By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Long Products Monitor, Dec. 1 Long product prices again moved higher in the USA m/m following a larger-than-expected scrap price increase and unseasonably strong demand. Mill-announced price increases for wire rod were the largest at $80 /s.ton m/m, while merchant bar and beam prices were also […]
Preliminary Census data shows that total foreign steel imports declined 17% in October to 2.71 million net tons, easing from September’s 28-month high of 3.26 million tons. November import licenses are currently at 2.55 million tons, a 6% decline from October and down 22% compared to September. Total finished imports are preliminarily at 2.33 million tons in […]
Coming off a year of strong growth, Reibus is looking to 2022 with guarded optimism. John Armstrong, president and CEO of the Atlanta-based online marketplace, anticipates more volatility ahead for the metals market. “We have budgeted for a 25% decrease in steel prices next year. That is our forecast, and we have built our business […]
Sheet and plate prices are nearing parity for the first time in about a year, the latest sign of a market in flux. Below is a good way to visualize that trend. The chart below maps out the spread between sheet and plate going back to 2017. If we rewind to mid-November of last […]
Sheet and plate prices are nearing parity for the first time in about a year, the latest sign of a market in flux. Below is a good way to visualize that trend. The chart below maps out the spread between sheet and plate going back to 2017. If we rewind to mid-November of last […]
Steel industry legend Peter Marcus died unexpectedly overnight following a brief illness. As word of his death spread across the steel industry, people reached out to SMU not only with memories of the man but also of the forecasts that made him famous (some would say infamous). “Peter Marcus was the ultimate scholar of the […]
Steel industry legend Peter Marcus died unexpectedly overnight following a brief illness. As word of his death spread across the steel industry, people reached out to SMU not only with memories of the man but also of the forecasts that made him famous (some would say infamous). “Peter Marcus was the ultimate scholar of the […]
Total mill shipments of steel products fell 12.2% in September to 8.502 million tons, after seeing an 11.1% increase the month prior. Apparent supply also slipped in September, down 6.9%, following a 7.9% increase in August. September’s contractions mark the first decrease in steel supply in seven months. This analysis is based on steel mill shipment […]
Monthly Key Market Indicators, as analyzed by Steel Market Update, edged down over the past month as positive indicators have decreased successively since June. A typical summer slowdown started the momentum shift, however, a surge in COVID variant cases, compounded by a slow-moving job market and supply-chain bottlenecks have continued to push the market indicators […]
The House has finally passed a bipartisan infrastructure bill after months of wrangling not only among Republicans and Democrats but also among factions within the Democratic party. “American steel built this country, and the industry is now ready to get to work on rebuilding this country. Repairing and modernizing our national transportation system is essential […]
Final Census data shows that September foreign steel imports increased 17% from August to 3.26 million net tons and a 28-month high. October import licenses are currently at 2.47 million tons as of Nov. 4, down 24% from September and down 11% compared to August. The last time total monthly import levels were this high was April […]
United Auto Workers (UAW) members at John Deere have again rejected a tentative labor pact agreed to by union and company negotiators. Approximately 55% of UAW members voted to reject the proposed six-year labor agreement. Only 45% voted in favor of it. That’s a better reception than the one received by an initial tentative contract […]
Evraz steel sales dropped in the third quarter as a strong showing from its North American operations only partially offset weaker demand as well as logistics and maintenance issues in Russia. The sales drop in Russia resulted in part from a slowdown in the local construction market. It also stemmed from bad weather and difficulty […]
The 2022 Tampa Steel Conference agenda and speakers are coming together nicely. Steel Market Update enjoys working with our friends at Port Tampa Bay as we prepare for a unique, fun, quality steel experience in Tampa, Fla., in mid-February. The conference dates are Feb. 14-16, but if you are concerned about conflicts with Valentine’s Day, […]
The 2022 Tampa Steel Conference agenda and speakers are coming together nicely. Steel Market Update enjoys working with our friends at Port Tampa Bay as we prepare for a unique, fun, quality steel experience in Tampa, Fla., in mid-February. The conference dates are Feb. 14-16, but if you are concerned about conflicts with Valentine’s Day, […]
Monthly Key Market Indicators, as analysed by Steel Market Update, softened again in the past month. A typical summer slowdown followed by a surge in COVID variant cases, compounded by a lackluster job market, reflects an uneasy economic landscape. Consumer confidence has dwindled, highlighted by decreases in key indicators across the marketplace. SMU’s Key Market Indicators […]
United Auto Workers (UAW) members at John Deere have set up pickets after a midnight strike deadline lapsed. The strike at the Moline, Ill.-based heavy equipment manufacturer impacts more than 10,000 workers at 14 facilities – most of them in the Midwest but some as far afield as Colorado and Georgia. “Our members at John Deere […]
Heavy equipment maker Deere & Co. faces a midnight strike deadline after United Auto Workers (UAW) union members overwhelmingly rejected a tentative contract agreement. The deadline has been set for Wednesday, Oct. 13, at 11:59 pm after approximately 90% of UAW members rejected the tentative pact, the union said. Both sides continue to bargain in […]
Mill shipments of steel products jumped 11.2% in August to 9.69 million tons, following an increase of 2.0% the month prior. Apparent supply was up 7.8% in August after a 3.6% increase in July. August’s expansion is the sixth straight month of growth in the steel supply since February’s double-digit contraction. This analysis is based on […]
Cleveland-Cliffs Inc. isn’t feeling the heat of soaring metallurgical coal prices, at least not yet. And the Cleveland-based miner and steelmaker plans to turn to its own mines if the market overheats. “We are benefiting from our existing multi-year contracts with suppliers and also the supply from our own coal production operations,” a company spokeswoman […]
By CRU Senior Analyst Ryan McKinley and Analyst Dave Thewlis, from CRU’s Steel Long Products Monitor Long product prices in the U.S. remained elevated and moved higher again m/m in some cases for October. Wire rod mills pushed through another round of price increases in mid-September and there was little to no resistance from buyers […]
Final Census data shows that August foreign steel imports declined 10% from July’s 18-month high to 2.78 million tons. September import licenses are currently at 2.86 million tons as of Oct. 4, up 3% from August but down 7% compared to July. Total finished imports for August were finalized at 2.18 million tons, the highest […]
Preliminary Census data shows that total foreign steel imports declined 10% in August, easing from July’s 18-month high down to 2.77 million tons. September import licenses are currently at 2.50 million tons as of Sept. 27, a 10% decline from August and down 19% compared to July. Total finished imports are preliminarily at 2.18 million […]
Join Steel Market Update next week for the final Steel 101 Workshop of 2021, running virtually on Tuesday and Wednesday, Oct. 5-6. Unsure what to expect from the virtual training experience? SMU and CRU have been successfully running virtual events on our customized virtual platform since 2020, including the previous SMU Steel Summit and Tampa Steel Virtual Conference. […]
Monthly Key Market Indicators, as analysed by Steel Market Update, slipped again in the past month, albeit slightly. The typical summer slowdown may have been compounded by the ongoing drag of COVID-19 as well as an uneasy economic and political landscape. Markers for the Present Situation have contracted for a third straight month and Trends […]
There’s still time to sign up for the few spots remaining in the next Steel 101: Introduction to Steel Making & Market Fundamentals workshop, a virtual event to be held Oct. 5-6. This workshop was conducted in person for many years and has trained more than 1,000 individuals within the steel industry. We took the workshop […]
Mill shipments of steel products rose 2.0% in July to 8.7 million tons, following an increase of 1.7% the month prior. Apparent supply jumped 3.6% in July after a 6.0% increase the prior month. July marks the fifth consecutive month of gains after February’s double-digit contraction. This analysis is based on steel mill shipment data from […]
Join Steel Market Update for the final Steel 101 Workshop to be held this year, running virtually on Tuesday and Wednesday, Oct. 5-6, 2021. Unsure what to expect from the virtual training experience? SMU and CRU have been successfully running virtual events on our customized virtual platform since 2020, including the last SMU Steel Summit […]
Final Census data shows that total foreign steel imports increased 5% from June to July, reaching 3.08 million tons. As stated in our preliminary import analysis, this is now the highest monthly import level of 2021, surpassing the previous month. The last time monthly import levels exceeded this rate was January 2020 when 3.16 million tons […]
Preliminary Census data shows that total foreign steel imports increased 3% from June to July, reaching 3.01 million tons. This is now the highest monthly import level of 2021, surpassing the previous month. The last time monthly import levels exceeded this rate was January 2020 when 3.16 million tons of steel entered the country. August import licenses are currently […]