Earlier this week I received a note from one of our readers regarding the plate price index and the changes we recently made to the index (FOB Mill vs. Delivered pricing). We were asked how we are accomplishing this, and how do our members reconcile the historical data that was based on delivered pricing versus […]
“If you’ve tried to buy steel in the last six months, it’s a very frustrating climate,” said one member of the Heating, Air Conditioning & Refrigeration Distributors International during their monthly conference call this morning. HARDI is a trade group representing wholesalers who supply galvanized and other products to the construction/HVAC market. Demand is strong […]
“If you’ve tried to buy steel in the last six months, it’s a very frustrating climate,” said one member of the Heating, Air Conditioning & Refrigeration Distributors International during their monthly conference call this morning. HARDI is a trade group representing wholesalers who supply galvanized and other products to the construction/HVAC market. Demand is strong […]
“It’s not how much it cost, it’s do I have steel to make my parts…?” That was one of the comments discussed this morning during our HARDI galvanized steel conference call. Some of the mechanical contractors have jobs to complete, and they need steel to finish. However, others are trying to hold back on buying […]
On Tuesday, Jan. 14, USS POSCO notified customers of an upward revision to their galvanized steel coating extras, to apply on all new orders effective immediately. UPI is the fourth mill to revise their galvanized coating extras recently, following NLMK, CSI, and Nucor. SMU has done an analysis on the old and new extras, provided […]
By Greg Wittbecker, Advisor, CRU Analysis Like the steel industry, the aluminum industry has long recognized the economic value of scrap. Every time virgin aluminum prices have risen, buyers have accelerated substitution of scrap for virgin metal. Now, economic sensibility has been married to the new focus on sustainability. Consumer-facing market segments are leading the […]
Nucor Corporation announced that Craig Feldman, Executive Vice President of Raw Materials, will retire in June after a 35-year career with Nucor and the David J. Joseph Company. Feldman began his career in 1986 as a brokerage representative at DDJ progressing within the company to District Manager of the Salt Lake City brokerage office, Commercial […]
The U.S. steel industry has enough capacity to meet demand even if the Biden administration passes a big infrastructure bill, said the top executive of the nation’s biggest steelmaker. The United States “desperately needs” an infrastructure package worth “more than $1 trillion,” and Nucor hopes such a bill will be passed in the early days […]
Update on Tampa Steel Conference registrations: We are moving past 250 registered attendees for the Feb. 2 virtual conference. We fully anticipate the 32nd annual Tampa Steel Conference will attract 350-400+ attendees from manufacturing, distribution, steel mills, trading companies, logistics companies, ship lines, port facilities, toll processors and suppliers to those industries. You can learn more about the […]
Most new U.S. flat-rolled electric-arc furnace steelmaking capacity won’t start up until the second half of this year, which could have big implications for spot hot-rolled coil prices. The back-ended nature of the capacity add means the market might sustain hot-rolled coil prices of $1,000 per ton or more longer than many buyers believe, industry sources […]
Big River Steel is running the new, second line at its steel mill in Osceola, Ark., at close to 90% of its rated capacity. “Big River Steel expected and has had another record startup in terms of its second furnace and caster,” said a company spokesperson in an email to Steel Market Update. The company […]
The U.S. electric-arc furnace steelmaking industry is eager to work with the administration of President-elect Joe Biden to craft better trade, infrastructure and manufacturing policies, the head of the Steel Manufacturers Association said. And those efforts could be fruitful given Biden’s moderate positions on those issues and the moderation that will be necessary to effectively […]
Nucor Tubular Products notified customers Wednesday that it will increase pricing on all new orders for HSS, pipe, mechanical and piling products by $100 per ton as a result of the strong demand and rising costs of raw materials and transportation. All orders booked prior to this announcement will be price protected for shipments through […]
Nucor Tubular Products notified customers on Wednesday, Jan. 20, that it will increase pricing on all new orders for HSS, pipe, mechanical and piling products by another $150 per ton as a result of the strong demand and rising costs of raw materials and transportation. All orders booked prior to this announcement will be price […]
Evraz North America (NA) has followed Nucor in increasing plate prices by at least $140 per ton ($7/cwt). The steelmaker said that the increase was effective immediately and that it applied equally to all carbon, high-strength low-alloy, hot-rolled coil, normalized, and quenched-and-tempered products, according to a letter to customers Jan. 6. “We reserve the right […]
Nucor and SSAB Americas have raised plate prices sharply higher to ring in the New Year. Effective immediately, Nucor’s new ex-works base price for cut-to-length grade A36 plate is $940 per ton ($47/cwt), up $140 per ton from $800 per ton on Dec. 14, according to letters to customers dated Tuesday, Jan. 5. The new […]
As we enter the New Year registrations are starting to accelerate for the 32nd annual Tampa Steel Conference which will be held virtually on February 2nd of this year. We currently have 150 registrations, and we expect 300-500 attendees once the conference opens. Here are the companies registered. Those with an asterisk (*) next to […]
As we enter the New Year, registrations are starting to accelerate for the 32nd annual Tampa Steel Conference to be held virtually on Feb. 2. We currently have close to 200 registrations, and we expect 400-500 attendees once the conference opens. Here are the companies registered. Those with an asterisk (*) next to their name means they […]
The Tampa Steel Conference will be conducted virtually for the first time in its 32-year history. The 2021 conference will be held on Feb. 2 and will be an all-day event. We encourage everyone to register for what promises to be both an entertaining and timely event. Steel Market Update and Port Tampa Bay are pleased […]
The Tampa Steel Conference will be conducted virtually for the first time in its 32-year history. The 2021 conference will be held on Feb. 2 and will be an all-day event. We encourage everyone to register for what promises to be both an entertaining and timely event. Steel Market Update and Port Tampa Bay are pleased […]
Steel Market Update wants to make you aware of some of the events we have planned for early 2021 as well as the 2021 SMU Steel Summit Conference, which will be (fingers crossed) a live event at the end of August. Steel Hedging 101: Introduction to Managing Price Risk Dates: Jan. 26-27 (half day workshop […]
On Monday, Dec. 21, Nucor notified customers of an upward revision to their galvanized steel coating extras, effective Feb. 6, 2021. Nucor is the third mill to revise their galvanized coating extras recently, following NLMK and CSI two weeks ago. SMU has done an analysis on the old and new extras, provided below. Nucor extras […]
Flat rolled processor Steel Technologies announces the succession of Thad Solomon to President and Chief Executive Officer following the retirement of Michael J. Carroll. Carroll is retiring after 41 years with the company, serving as President and CEO since 2010 and President and Chief Operations Officer since 1999. Solomon was appointed Chief Operations Officer in […]
The Nucor and Duferco joint venture has officially ended. The financial closing papers were signed on Dec. 21 marking the end of a 12-year partnership between the Italian firm and Nucor. Said Antonio Gozzi, Duferco Italia Holding president, “These have been 12 remarkable years of productive collaboration with the first U.S. steel producer, years in […]
U.S. Steel is optimistic about its financial outlook for 2021. The addition of a strong performer to their portfolio with the acquisition of Big River Steel and improved demand and higher prices in the fourth quarter bode well for the new year. Positive EBITDA is expected in the flat rolled segment for the fourth quarter, […]
Nucor will have a new Chief Operating Officer, David A. Sumoski, effective Jan. 1, 2021. Sumoski, currently Executive Vice President of Bar, Rebar Fabrication and Construction Services, joined Nucor in 1995 as an electrical supervisor at the Berkley facility and later as Maintenance Manager. He served as Vice President and General Manager of Nucor Steel […]
ArcelorMittal USA notified customers on Wednesday that it is increasing its base pricing for plate to a minimum of $900 per ton “in order to capture escalating costs and to restore the market value for steel plate products.” Now owned by Cleveland-Cliffs, ArcelorMittal USA no longer quotes delivered prices but rather the price ex works […]
Nucor expects improved fourth-quarter earnings due to higher pricing of sheet and plate as well as strong results at its bar and structural mills. Profitability for the steel products segment is expected to decrease modestly, consistent with typical seasonality. The raw materials segment will benefit from higher prices for raw materials and improved financial performance […]
Scrap recycling and brokerage firm David J. Joseph Company, a Nucor subsidiary, has promoted Mark Schaefer to president, effective Jan. 1, 2021. Schaefer succeeds Craig Feldman who will remain an executive vice president based in Charlotte, N.C. Schaefer joined DJJ in 1985, serving in number of positions including executive vice president of both the recycling […]
Flat Rolled = 40.0 Shipping Days of Supply Plate = 45.7 Shipping Days of Supply Flat Rolled Service center flat rolled steel inventories continue to reach new lows. At the end of November, service centers carried 40 shipping days of supply, down from 43.1 days in October. November had 19 shipping days, compared to October’s […]