Nucor will purchase Cornerstone Building Brand’s insulated metal panels (IMP) business for a cash price of $1 billion dollars. The purchase is expected to close later this year, pending regulatory approval. The transaction includes seven manufacturing facilities located throughout North America that will complement Nucor Buildings Group and the company’s existing IMP business, TrueCore, the […]
The 2021 SMU Steel Summit Conference will be the first major steel conference to be held in person since the pandemic shut down all events across the world. Our conference will begin at 9 a.m. ET with our Pre-Summit Programs on Monday, Aug. 23. The official opening of the conference will be at 1 p.m. ET […]
ArcelorMittal Mexico plans to start up its new hot strip mill in Lázaro Cárdenas in Mexico’s Michoacán state in the fourth quarter of this year, a company spokeswoman said. The hot strip mill cost $1 billion and is expected to have annual capacity of 2.75 million tons per year (tpy), according to an ArcelorMittal press […]
Steel Market Update spot prices on flat rolled moved higher today and our Price Momentum Indicator continues to point toward higher prices on hot rolled, cold rolled, galvanized, Galvalume and plate steel over the next 30 days. However, having said that, we spent a good portion of today in conversation with steel buyers around the […]
Nucor CEO and President Leon Topalian will serve as the next chairman of the American Iron and Steel Institute, announced the AISI Board of Directors on Tuesday. Topalian will serve a two-year term at the head of the industry trade group, taking over the role from John Brett, CEO of ArcelorMittal North America. “Leon Topalian […]
Nucor Steel Berkeley notified customers yesterday, May 24, that it is raising published prices on most of its structural steel products by $100 per ton ($5.00/cwt), effective immediately, in the latest of a series of price hikes dating back for a year. “As always, we will monitor the marketplace and respond accordingly to changes so […]
Much attention has been paid to how much new electric-arc furnace (EAF) flat-rolled steel capacity is being added to the North American market. Less has been written about how many tons of integrated steelmaking capacity have been taken out. An analysis by Steel Market Update indicates that the latter figure is perhaps equally significant. It […]
Much attention has been paid to how much new electric-arc furnace (EAF) flat-rolled steel capacity is being added to the North American market. Less has been written about how many tons of integrated steelmaking capacity have been taken out. An analysis by Steel Market Update indicates that the latter figure is perhaps equally significant. It […]
SSAB Americas and Evraz North America have followed Nucor in increasing plate prices by at least $100-150 per ton ($5-7.50/cwt). Both steelmakers said their price hikes were effective immediately in letters to customers dated Thursday, May 20. SSAB said the $100-per-ton increase applied to as-rolled mill plate and coil as well as to cut-to-length plate more […]
SSAB Americas and Evraz North America have followed Nucor in increasing plate prices by at least $100-150 per ton ($5-7.50/cwt). Both steelmakers said their price hikes were effective immediately in letters to customers dated Thursday, May 20. SSAB said the $100-per-ton increase applied to as-rolled mill plate and coil as well as to cut-to-length plate more […]
Nucor has in a leading move increased plate prices by $100-150 per ton ($5-7.5/cwt) along with the opening of its July order book. Nucor’s new ex-works base price for cut-to-length A36 plate is $1,320 per ton ($66/cwt), up from $1,120 per ton last month, according to letters to customers. The steelmaker’s new base prices for […]
A coalition of U.S. steel industry lobbying groups and the United Steelworkers (USW) union want the Biden administration to keep Trump-era Section 232 tariffs and quotas on imported steel in place. The groups say the tariffs – rolled out in March 2018 on national security grounds – are necessary for the survival of the domestic […]
Nucor has signed a supply agreement with Array Technologies to produce components for Array’s solar tracking system. Nucor will supply Array with torque tubes and rolled steel for the production of clamps, foundations and brackets, and other components. The steel manufacturer will also partner with Array on the co-development of company’s next generation of solar […]
“It’s a miserable boat, but at least we are all in this together.” Large manufacturing company A new hole in the boat today…NLMK USA lost their Farrell, Pa., hot strip mill for one to two weeks. Price becomes irrelevant when your customers need product and there is nowhere else to go. That is what one […]
“It’s a miserable boat, but at least we are all in this together.” Large manufacturing company A new hole in the boat today…NLMK USA lost their Farrell, Pa., hot strip mill for one to two weeks. Price becomes irrelevant when your customers need product and there is nowhere else to go. That is what one […]
2021 SMU Steel Summit Conference Revised Agenda as of May 9, 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 it are at the first stop […]
2021 SMU Steel Summit Conference Revised Agenda as of May 9, 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 it are at the first stop […]
Nucor plans to spend $58 million to upgrade its engineered bar mill in Norfolk, Neb., with the aim of increasing sales to the automotive industry. The modernization project is expected to be completed in the fourth quarter of 2022, the electric-arc furnace steelmaker said. The scope of work will include adding a new reheat furnace, […]
Atlas Tube, in a leading move, aims to increase prices for mechanical tubing, hollow structural sections (HSS) and piling products by at least $100 per ton ($5/cwt). The increase, effective immediately, applies to all new orders as well as to unconfirmed quotes and contracts, the division of Zekelman Industries said in a letter to customers […]
Hot rolled steel offers ranged as high as $1,500 per ton this week as steel tags just keep rising to levels never seen before. Steel Market Update’s check of the market this week puts the average HR price at a record $1,440 per ton, up another $30 per ton over last week and 35% higher […]
When I started Steel Market Update in August 2008 and I began to look at steel prices, I did so from a different viewpoint than the indexes that already existed. Having just completed a 31-year career in selling flat rolled steel, I believed what was most important for steel buyers to understand was the range […]
Nucor has increased plate prices by $80-100 per ton ($4-5/cwt) along with the opening of its June order book. Nucor’s new ex-works base price for cut-to-length A36 plate is $1,220 per ton ($61/cwt), up from $1,140 per ton a month ago, according to letters to customers. The steelmaker’s new base prices for quenched-and-tempered Grade A514 […]
Nucor, SDI and Cliffs all announced earnings last week. All of the CEOs are quite bullish as all of their flat rolled mills are running at full capacity. And with pricing now in excess of $1,400 per ton for benchmark hot rolled, the mills are reporting record or near record quarterly profits for first-quarter 2021. […]
Ternium remains on track to start up its new hot strip mill in Pesquería, outside of Monterrey, Mexico, on time, according to industry sources. The Latin American steelmaker has indicated that it expects to start up by early June and has already filled its June and July order books, market participants said. Ternium did not […]
Everything You Want to Know About This Year’s Conference There is much to talk about at this year’s SMU Steel Summit Conference as the industry deals with record high prices, strong demand, challenges to supply, questions about trade, new steel mills about to come onstream and more recently announced, automotive moving to electric vehicles, questions […]
Everything You Want to Know About This Year’s Conference There is much to talk about at this year’s SMU Steel Summit Conference as the industry deals with record high prices, strong demand, challenges to supply, questions about trade, new steel mills about to come onstream and more recently announced, automotive moving to electric vehicles, questions […]
Nucor posted its best quarter ever with net earnings of $942.4 million in first-quarter 2021. Net sales soared 33% to $7.02 billion in the quarter on higher steel prices and shipments. “The first quarter of 2021 was the most profitable quarter in our company’s history. We are clearly reaping the rewards from our prior investments […]
Nucor Tubular Products has announced a $100 per ton increase on all new orders for HSS, pipe, mechanical and piling products. Orders booked prior to the announcement will be price protected for shipment through May 7, 2021. New orders, quotes, and contracts will subject to the increase. Nucor said the increase is the result of […]
Ray Napolitan, Jr., Executive Vice President of Engineered Bar Products and Digital at Nucor, plans to retire on June 5, 2021, after 25 years of service with the company. Napolitan joined Nucor in 1996 as Engineering Manager of Nucor Building Systems-Indiana. He became Operations Manager of Nucor Building Systems-Texas in 1999 and was promoted to […]
Zekelman Industries has completed the exterior construction of its new rolling mill in Blytheville, Ark. The 515,000-square-foot facility, located next to Zekelman’s Atlas Tube, will be the largest continuous electric resistance welding (ERW) mill in the world and is expected to be operational by September 2021. The mill will be able to roll HSS from […]