Nucor is demonstrating its environmental commitment with the signing of a 15-year Virtual Power Purchase Agreement (VPPA) for 250 megawatts of new solar energy in Texas. The agreement with EDF Renewables North America is Nucor’s first VPPA and the largest of its kind in the steel industry. EDFR plans to begin construction on the solar […]
The Italian joint venture Duferdofin-Nucor is coming to an end after a 12-year partnership. Duferco will repurchase Nucor’s 50 percent share of the company, becoming exclusive owner of the steel beam operations. Duferco also announced it will invest EU 180 million ($213 million) for a new rolling mill at the plant in San Zeno Naviglio, […]
Big River Steel is expected to roll the first coil from its new electric arc furnace sometime next week, according to U.S. Steel’s Q3 comments and other sources. The project ran ahead of the scheduled January start-up by more than two months. Although the first coil will be produced next week, full capacity won’t be […]
On Wednesday, Steel Market Update reached out to Cleveland-Cliffs Chairman, President & CEO Lourenco Goncalves to get his thoughts on the market as the U.S. is about to change leadership and Cliffs is about to complete their acquisition of ArcelorMittal USA operations (except for Calvert and Dofasco in Canada). SMU: Have you congratulated President-elect Biden? […]
For those of us who live in the United States, today should be one where we recognize we have expressed our opinions about politics and politicians with our vote. We recognize the strength of our democracy is rooted in the belief that we are all Americans no matter our political ilk. To believe otherwise only […]
Nucor has agreed to acquire Precoat Metals’ paint line facility in Armorel, Ark., accelerating Nucor’s entry into the painted products market, said Troy Brooks, vice president and general manager of Nucor Steel Arkansas. Precoat’s paint line is located near the Nucor Steel Arkansas sheet mill campus and has a capacity of approximately 250,000 tons per […]
Friday, Saturday, Sunday, Monday, Election Day – Tuesday, Nov. 3, 2020. If you have a mail-in ballot, it is now too late to put in the mail. You will need to personally drop the ballot off at a collection box. If you can vote early, I would highly recommend it (I voted last week in […]
Nine days to go… I don’t know about you but my cell phone is being lit up with political calls/texts from both parties – including states I don’t live in. November 4th can’t get here fast enough… Steel Dynamics reported that their mills (all products) operated at 85 percent and their sheet mills achieved a […]
Nucor reported better than expected results for the third quarter of 2020. The company’s bar and structural mills led earnings, benefiting from a good nonresidential construction market. Joist and deck orders, quotes and backlogs are up year-over year with strong demand from nonresidential, including data and distribution center construction, company executives told investors and analysts […]
SSAB Americas has announced another price increase on steel plate, informing customers Friday, Oct. 16, that it has increased transaction prices by a minimum of $50 per ton effective on all new non-contract orders. SSAB said the increase applies to As-Rolled Mill Plate, Cut-To-Length Plate >72”, Hot Rolled Coils >72”, Normalized Plate and Quenched & […]
ArcelorMittal USA has notified customers of a $50 per ton increase in the minimum base price for its plate products, following a similar announcement by SSAB Americas last week. This is the second $50 plate price increase for ArcelorMittal USA since Sept. 29, when SSAB and Nucor also announced increases. Plate prices had struggled to […]
By CRU Analyst Estelle Tran, from CRU’s Global Steel Trade Service The spike in sheet purchasing activity pushed prices up $200 /s.ton over the last two months and mill lead times for HR coil over six weeks. Steel Market Update, which is owned by CRU, also reported CR and HDG coil lead times in the […]
Leading pipe and tube producers have announced another price increase of $50 per ton, as the cost of the flat rolled used to make tubular products continues to increase and market conditions continue to tighten. Nucor Tubular Products informed customers Tuesday, Oct. 13, that prices will increase on new orders of HSS, pipe, mechanical and […]
Nucor Tubular Products notified customers on Friday, Oct. 23, that it is increasing the pricing on all new orders for HSS, pipe, mechanical and piling products by $50 per ton. The steelmaker attributed the increase to rising raw material costs, strong demand and volatility of transportation costs. All orders booked prior to this announcement will […]
The 2020 pandemic has caused more disruption to the global energy sector than any other event in recent history, says the International Energy Agency in its newest World Energy Outlook. “Whether this upheaval ultimately helps or hinders efforts to accelerate clean energy transitions and reach international energy and climate goals will depend on how governments […]
Nucor Tubular Products led the pipe and tube manufacturers announcing a $50 per ton price increase this morning on HSS, pipe, mechanical and piling products. EXLTUBE advised they were following the Nucor lead and announced their fourth price increase on HSS and A53B products matching the Nucor $50 per ton. New orders for foreign steel […]
On Thursday, Steel Market Update produced an article on lead times with the headline, “Steel Mill Lead Times: Mixed Messages.” The lead times being discussed in the article come from our proprietary survey, which is produced every other week. The lead times are based on the average from the manufacturing companies and steel service centers […]
On Thursday, Steel Market Update produced an article on lead times with the headline, “Steel Mill Lead Times: Mixed Messages.” The lead times being discussed in the article come from our proprietary survey, which is produced every other week. The lead times are based on the average from the manufacturing companies and steel service centers […]
With a presidential election on the horizon, the AIST Town Hall Forum asked steel executives how a new administration may affect the steel industry and trade. “I continue to expect bipartisan support in Washington for American workers, American steelmaking, regardless of who is in the White House,” said U.S. Steel CEO Dave Burritt. “But I […]
Following on the heels of plate price increases earlier this week, the mills have announced another $50 increase on flat rolled. On Wednesday, Nucor’s Sheet Mill Group notified customers that it is increasing base prices on new orders of hot rolled, cold rolled and galvanized products by a minimum of $50 per ton, effective immediately. […]
Recovery, fundamental, opportunity, strategic, exciting. These are the five words steel executives used during AIST’s Virtual Town Hall Forum Wednesday to describe the current state of steel. In the aftermath of an unprecedented upheaval for the economy and the industry caused by the COVID-19 crisis, executives from Big River Steel, Cleveland-Cliffs, Nucor, Steel Dynamics and […]
Cleveland-Cliffs’ purchase of ArcelorMittal USA took many steel buyers by surprise this week. Initial reactions from some Steel Market Update readers ranged from “a major development” to “business as usual.” Here are some of their comments: “Quite surprised by this development. Initial reaction is this gives them an incredibly strong position with automotive. Not sure […]
All the integrated steel mills in the United States will soon be controlled by U.S. companies. Cleveland-Cliffs is buying ArcelorMittal USA assets…well, most of the U.S. assets. They did not acquire the ArcelorMittal/Nippon Steel Calvert steel mill located just outside of Mobile, Ala., and they did not purchase the Dofasco plant located in Hamilton, Ontario, […]
For those of you who are new to our newsletter my final thoughts is an area where I get to muse about items I find important, or to provide my opinion, or just random thoughts that I may be having. We are now in the last few days of September with Thursday of this week […]
From one of our SMU readers to John Packard, President & CEO of Steel Market Update, “Welcome back… Regarding steel, wow. What a difference a month (or, a month and half) makes!” A second reader told us, “Market pricing and lead-times have moved aggressively…and rapidly. Many are finding themselves too late to the party.” It […]
By CRU Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service A combination of increased seasonal demand, low service center inventories, unplanned outages, spike in scrap prices and government restrictions on Brazilian slab imports have added fuel to the usual seasonal uptick and turned it into a surge. After reaching a bottom in mid-August, […]
Flat Rolled = 48.6 Shipping Days of Supply Plate = 56.9 Shipping Days of Supply Flat Rolled Service centers’ flat rolled steel supply reached its lowest point of the year in August, as shipments increased and intake remained nearly flat month on month. In August, service centers carried 48.6 shipping days of supply of flat […]
Demand and pricing improved late in the third quarter, said Nucor in earnings guidance issued Thursday. Continued resiliency of the nonresidential construction market has resulted in a strong performance for Nucor’s downstream products. Steel segment earnings are expected to be similar to second quarter. Nonresidential construction is also benefiting Nucor’s bar and structural mills, but market conditions […]
Mills are hoping to boost flat rolled prices by an additional $50-60 per net ton as the economy and steel demand continue to improve, iron ore and scrap prices rise and mill outages tighten supplies. On Monday, U.S. Steel and sister company USS-POSCO Industries (UPI) informed customers they have raised spot prices for hot rolled, cold […]
Some leading pipe and tube producers are increasing prices by $50 per ton due to increased demand from construction and automotive-related industries, as well as higher raw material costs. On Monday, Nucor Tubular Products announced an immediate $50 increase on all new orders for HSS, pipe, mechanical and piling products. Atlas Tube followed suit on […]