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 […]
Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop, a virtual event, on Tuesday and Wednesday, Oct. 5-6, 2021. 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 into our virtual platform […]
By CRU Principal Analyst James Campbell, from CRU’s Steel Long Products Monitor Long product prices have fallen in most regions this month as demand was lower than expected. Part of the weakness was seasonal, but parts of Asia were also affected by further outbreaks of Covid-19. Except for the USA, the tight supply seen in […]
Roughly half of the steel executives responding to Steel Market Update’s market trends questionnaire this week believe the infrastructure legislation now working its way through Congress will have a significant impact on steel demand in the next year or two. The other half are unsure if the two parties in Washington can reach agreement even […]
Mill shipments of steel products rose in June by 1.7%, following an increase of 1.9% the month prior. Apparent supply jumped 6.0% in June after a 1.3% increase in May. June’s gains were the fourth in as many months after February’s double-digit contraction. This analysis is based on steel mill shipment data from the American […]
Mild weakening of monthly Key Market Indicators, as analyzed by Steel Market Update, may reflect the usual summer slowdown or perhaps growing concern over the latest COVID variant and its possible effects on the economy. Markers for the Present Situation have contracted for the second straight month and Trends have now followed after a small but positive […]
By CRU Principal Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor The iron ore price decline continues as demand for spot cargoes in China is exceptionally weak, while we have started seeing signs of improving supply from Australia. On Tuesday, Aug. 10, CRU assessed the 62% Fe fines price at $160.0 /dmt, a $25.0 […]
The U.S. Senate passed the $1 trillion infrastructure bill. The bill includes $550 billion in new spending. The bill calls for $110 billion for roads, bridges and major infrastructure projects. It also includes $40 billion for bridge repair and replacement, $39 billion to modernize public transit, $66 billion for passenger and freight rail, $65 billion to […]
Steel prices can’t go up forever and could correct downward from their historic highs later this year, steelmaker Evraz said. “Steel prices look unsustainable at current levels and there is a possibility of a gradual price decline in the coming months,” the company said in outlook commentary released with earnings data on Thursday, Aug. 5. […]
Final Census data shows that total foreign steel imports increased 16% from May to June, reaching 2.93 million tons. As stated in our preliminary import analysis, this is now the highest monthly import level of 2021, surpassing the April high. 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 are up 15% from May to June, reaching 2.90 million tons. This is now the highest monthly import level of 2021, surpassing the April high of 2.64 million tons. The last time imports were this high was January 2020 when imports totaled 3.16 million tons. July import licenses through […]
2021 SMU Steel Summit Conference – Revised Agenda as of July 27, 2021 The 2021 SMU Steel Summit Conference will be held at the Georgia International Convention Center on Aug. 23-25. The convention center is conveniently located next to the Atlanta International Airport (ATL). The center and the hotels surrounding the convention center are on […]
Steel Dynamics Inc. (SDI) doesn’t see a big steel price correction in the cards because of broader – and largely unrecognized – structural shifts underway in the U.S. steel market, company executives said. Industry experts have been focused on potential negatives such as new capacity, increased imports and the removal of trade barriers. They are missing […]
Steel Dynamics Inc. (SDI) kicked off steel earnings season by posting record second-quarter sales and record profits on ballooning metal spreads. And the Fort Wayne, Ind.-based electric arc furnace (EAF) steelmaker anticipates another record performance in the third quarter as well as strong demand into 2022. “We remain confident that macroeconomic and market conditions are […]
Peruvian steelmaker Corporación Aceros Arequipa S.A. (CAASA) has purchased two scrap yards in Florida to ensure it has enough raw materials for a new steel mill. The assets purchased include a shredder as well as a magnetic metal separation system, according to a notice filed with Peruvian securities regulators. Terms of the deal were not disclosed. […]
Steel Market Update’s latest analysis of monthly Key Market Indicators highlights that the road to recovery from the COVID-19 doldrums is far from over. Markers for the Present Situation have contracted a bit while Trends show small but positive moves from a month ago. The markers are not necessarily an evaluation of the economy’s journey from affliction to […]
Mill shipments of steel products rose in May by 1.9%, rebounding from the 2.0% decline seen the month prior, while apparent supply was up 1.7% compared to April. Although mill shipments and apparent supply gains have decelerated from the nearly 20.0% rally seen in March, May’s gains were the third increase in as many months […]
This report examines the import share of tubular and long products shipments. Imports’ share of total tubular products rose to 47.9% in May, up from 46.6% in April. Total tubular imports rose by 6.4% month on month, while domestic shipments ticked up only slightly by 0.4% during the same period. Overall supply was up as […]
Final Census data shows that May foreign steel imports totaled 2.53 million tons, down 116,000 tons compared to the month prior, a 4% decline. Although May was down from the month prior, levels remain strong compared to recent months; April imports had reached the highest level seen since July 2020. Current June import licenses through this week […]
Preliminary Census data shows that total foreign steel imports declined 5% from April to May to 2.51 million tons. Although down from the month prior, recall that April saw the highest total monthly import level since July 2020, when imports were 2.71 million tons. June import licenses through the 28th are at 2.76 million tons, already up 10% […]
By Michael Marley The mini sheet mills face a maxi problem, namely no additional supplies of prompt industrial scrap to feed their growing appetites for that raw material. As they move ahead with planned expansions of existing facilities and the construction of greenfield plants, electric arc furnace (EAF) steelmakers may be forced to rely on additional […]
2021 SMU Steel Summit Conference Revised Agenda as of June 20, 2021 There are 55 days before the start to the 2021 SMU Steel Summit Conference. We should have close to 300 companies and 800+ executives attending this year based on where we are today. The conference agenda is close to its final shape. There […]
2021 SMU Steel Summit Conference Revised Agenda as of June 20, 2021 There are 55 days before the start to the 2021 SMU Steel Summit Conference. We should have close to 300 companies and 800+ executives attending this year based on where we are today. The conference agenda is close to its final shape. There […]
Steel Market Update’s latest analysis of monthly Key Market Indicators underscores that the recovery is still under way. Markers for both the Present Situation and Trends show small but positive moves from a month ago and now exceed pre-pandemic levels. SMU’s Key Market Indicators include a host of data on the economy, raw materials, manufacturing, construction, and […]
Mill shipments of steel products declined by 2.0% in April compared with the month prior, while apparent supply increased by 2.8% during the same period. April’s totals were a letdown from the strong performance in March, which saw shipments of steel products leap by 18.3% and apparent supply accelerate by 18.1%. This analysis is based […]
By CRU Senior Analyst Richard Lu, from CRU’s Steel Sheet Products Monitor In September 2020, President Xi Jinping formally announced that China will aim to achieve a peak in carbon emissions before 2030, followed by carbon neutrality before 2060. As part of the decarbonization efforts, the Chinese government at the start of the year announced […]
This report examines the import share of tubular and long products shipments. Imports’ share of total tubular products rose to 46.6% in April, up from 46.2% in March. Both domestic shipments (-7.0%) and imports of tubular products (-5.8%) fell month on month, yet domestic shipments edged down at a stronger clip when compared to March. […]
Nucor President and CEO Leon Topalian will join SMU President and CEO John Packard for a one-on-one fireside chat at the upcoming SMU Steel Summit Conference on August 23-25 in Atlanta, Ga. Nucor is the largest steel mill in North America and produces long products, plate and sheet. Nucor has been actively expanding existing mills and […]
Infrastructure, Energy, Wind Farms, Tanners, Summit Conference, Imports. If you are watching the news, you are aware of the Biden administration’s push for a large (at least $1 trillion) infrastructure bill. There is a lot of discussion about what infrastructure entails in light of the current economy. It’s not your father’s economy. There is need […]
Final Census data shows that total foreign steel imports indeed rose 14% from March to April to 2.64 million tons, rising just 5,000 tons from the preliminary levels SMU reported last week. This is the highest total monthly import level seen since July 2020 when imports were 2.71 million tons. Import licenses currently for May have risen […]