Zinc prices were trading at $1.18 per pound this afternoon. Earlier this week, the metal traded as low as $1.13 per pound, but has since rallied off those one-year lows. Even so, the $1.18 per pound level is lower than at any point over the past 12 months (see graphic below). Does SMU expect galvanized […]
Sales by NLMK’s U.S. mills grew 15 percent to 638,000 metric tons in the second quarter of 2018 compared to the first, triggered by trade restrictions, said the company in a trade update on Friday. NLMK USA sales included 369,000 metric tons of hot-rolled steel, 129,000 tons of cold-rolled, and 139,000 ton of galvanized steel. […]
NLMK USA has requested tariff exclusion on the import of slabs under Section 232, but has received blowback from several U.S. steel mills. Nucor, U.S. Steel and AK Steel have filed objections to the request, arguing that there is sufficient slab supply in the United States to supply NLMK yet the company continues to buy […]
Russian steelmaker NLMK says it may have to close its U.S. division if it does not receive an exemption from the 25 percent steel tariff. NLMK USA depends on slab shipments from Russia and cannot source enough slabs in the U.S. to maintain its operations. “Without exclusion for semi-finished steel slabs, the tariffs will have […]
One quick note to those who may be thinking about attending our Steel 101 workshop in Memphis. We only have a few spots left and I expect the workshop will be sold out within the next week or so. If you have an interest in attending and you have questions about the workshop, please send […]
NLMK Group reported a 1 percent increase in first-quarter revenue, to $2.79 billion, as a 5.0 percent seasonal drop in sales was offset by stronger pricing. Net income grew by 17 percent from Q4 to $502 million, driven by higher operating profit. NLMK USA sales increased 1.0 percent from the fourth quarter on higher demand for […]
NLMK announced operating results for first-quarter 2018. NLMK Group steel output totaled 4.33 million metric tons, a 3 percent increase year-over-year. Group sales totaled 4.15 million metric tons, up 13 percent from Q1 2017. Capacity utilization grew 3 percentage points to 99 percent for the quarter. Steel slab sales to NLMK USA and NLMK Dansteel […]
I am happy to announce CNBC analyst and commentator Ron Insana will be doing our closing keynote speech this year. Mr. Insana is well know for his analysis, business forecasts and work following politics, regulations and trade issues and how they will impact business in the United States. I believe our attendees will have a […]
I don’t know how to keep up with the changing winds associated with President Trump when it comes to trade, trade negotiations and the Section 232 tariffs (or threats of tariffs). According to Bloomberg, Trump said that he may delay the revamped trade agreement reached with South Korea that includes a quota and permanent exclusion […]
I will be traveling beginning on Tuesday afternoon as I head to Chicago to conduct one of our Steel 101 workshops. I want to take a moment to thank NLMK USA for their hospitality as we will be touring their Portage minimill on Wednesday of this week. I will not return to my office until […]
The Section 232 tariffs go into effect tomorrow and already they are being watered down with country exclusions. U.S. Trade Representative Robert Lighthizer is now adding all of Europe, South Korea (one of the biggest importers of Chinese steel), Brazil, Argentina and Australia to the list of countries whose steel exports to the U.S. will […]
WOW! What a day. I don’t know if anyone has the ability to accurately calculate the value of a piece of steel based on what has been happening since President Trump all of a sudden announced Section 232 tariffs while answering a reporter’s question. With the announcement of more countries being excluded from the tariffs, […]
Flat rolled steel prices continue to March higher and are expected to continue to do so for weeks, if not months, due to the Section 232 tariffs on foreign steel and the tightening of supply. Most domestic steel mills are operating on an inquire or controlled order entry basis. Mills like California Steel and NLMK […]
Steel supply and pricing were the main topics discussed during the March 20 Heating, Air-conditioning, and Refrigeration Distributors International (HARDI) conference call. The Section 232 tariff on steel will go into effect on Friday, March 23, but HARDI members are already seeing an impact in the market. Steel prices are up $6/cwt since the last […]
NLMK USA told Steel Market Update this afternoon that if the 25 percent tariff on steel, and specifically on steel slabs, goes into effect, the future of their company and the people who work for it is in jeopardy long term. Steel Market Update spoke with Bob Miller, President of NLMK USA and Executive Vice […]
NLMK USA told Steel Market Update this afternoon that if the 25 percent tariff on steel, and specifically on steel slabs, goes into effect, the future of their company and the people who work for it is in jeopardy long term. Steel Market Update spoke with Bob Miller, President of NLMK USA and Executive Vice […]
Last week, President Trump let it slip of his intention to place a 25 percent tariff on steel and a 10 percent tariff on aluminum coming from foreign sources, including our NAFTA partners. Over the weekend, countries around the world have pledged to respond to any tariffs on steel and aluminum with tariffs of their […]
NLMK USA’s fourth-quarter sales and shipments dropped 3 percent from the third quarter due to expected seasonality. Sales totaled $410 million on shipments of 550,000 metric tons. Prices in the fourth quarter were flat due to uncertainty surrounding the pending Section 232 investigation. For full-year 2017, NLMK USA sales increased 21 percent from 2016 to […]
Last week ended with a bang. Steel Market Update received an invitation to participate in a press conference as Department of Commerce Secretary Wilbur Ross told the world that the DOC had found that imports of foreign steel negatively impact the steel and aluminum industries, which are necessary in the United States for national security […]
First, tomorrow (Wednesday) is Valentine’s Day. The heat is turning up on Section 232 discussions as trade groups, individual businesses and congressmen lean in and provide their opinions to President Trump. He still sounds like he is going to do something “disruptive,” but we just don’t know for sure. As you can see from tonight’s […]
It’s Super Bowl Sunday so my remarks will be very short this evening. Good luck to both teams and their fans. We have a busy week coming up, which will begin at 8 AM tomorrow (Monday) morning with the invitations to our early February flat rolled steel market trends survey. If you receive an invitation, […]
Responding to strong demand in the New Year and the market’s apparent acceptance of higher price tags, the major mills have announced another round of price increases on plate and flat rolled products. For most mills, this is the fourth increase they’ve announced in the past three months. On Monday, Nucor’s Plate Mill Group announced […]
NLMK USA notified customers today, Jan. 29, that it was increasing base prices on all products by $30 per ton, effective immediately, due to continued strong order placement. NLMK produces hot rolled, hot rolled pickled and oiled, cold rolled and galvanized products. This is the fourth price increase announced by NLMK in the last three […]
On Wednesday and Thursday of this past week a sold-out group of attendees and six Steel Market Update instructors, one event coordinator and a potential future instructor traveled to Mobile, Alabama to participate in the first Steel 101 workshop of 2018. The workshop was a success aided by the generosity of the SSAB plate mill […]
On Wednesday and Thursday of this past week, a sold-out group of attendees and six Steel Market Update instructors, one event coordinator and a potential future instructor traveled to Mobile, Ala., to participate in the first Steel 101 workshop of 2018. The workshop was a success, aided by the generosity of the SSAB plate mill […]
The wheels are moving and things are happening that are going to affect the momentum behind this market. First, there are new price increase announcements being made, first out of California and now by ArcelorMittal USA, which has put new base prices into the market. Second, Big River Steel put their customers on allocation for […]
If you received an email welcoming you to a free trial of Steel Market Update, please disregard. Somehow, that email was sent in error (I received one as well) and we believe it to be a glitch associated with the updated software we have on our website. Sorry for the confusion. I have been told […]
On March 28 and 29, 2018, Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop in Merrillville, Ind. This workshop will include a tour of the NLMK USA Portage, Ind., steel mill. Why do companies send employees to our Steel 101 workshops? Because they receive a broader […]
On March 28 & 29, 2018 Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop in Merriville, Indiana. This workshop will include a tour of the NLMK USA Portage, Indiana steel mill. Why do companies send employees to our Steel 101 workshop? Because they receive a broader […]
NLMK USA’s 2017 sales hit an all-time high of 2.25 million metric tons (2.48 million net tons), a surge of 21 percent, supported by demand from pipe manufacturers, construction companies and machine builders. Pricing for steel products in the U.S. grew by 15-19 percent compared to 2016. Growth was also positively impacted by the re-start […]