A new Danieli spooler line is in operation at the Nucor Steel Sedalia minimill in Missouri. The spool will deliver twist-free compact and regularly shaped coils at up to 30 m/s. The high-efficiency and low-cost line is for the production of rebars and rounds in coils weighing up to five tons. The spooler line consists of […]
Last week we conducted one of our flat rolled and plate steel market trends analyses. Some of the information gathered was shared in Thursday’s and again in tonight’s issue (see above). However, we share in our newsletter only a small fraction of the information that is being collected. Our data providers and Premium members can […]
There are now 14 Days to go before the start of this year’s steel conference. Unlike past years we will not be in Atlanta but instead holding the conference as a virtual event. You can learn more about what that means by reviewing a recording we did a couple of weeks ago when we unveiled […]
A challenge by JSW Steel USA to the U.S. Court of International Trade regarding the denial by Commerce of its slab exclusion requests has prompted CIT to order Commerce to provide further explanation of the steps taken in the denial process. “Remand of all twelve exclusion requests is warranted because Commerce’s denials are devoid of […]
In the SMU Community Chat webinar last week, Paul Terry of CRU and John Packard of Steel Market Update gave a live demo of the virtual event platform that will be the SMU Steel Summit 2020 Virtual Conference. If you missed the webinar, you can watch the live demo here. We explain networking, agenda, exhibition and […]
In the SMU Community Chat webinar last week, Paul Terry of CRU and John Packard of Steel Market Update gave a live demo of the virtual event platform that will be the SMU Steel Summit 2020 Virtual Conference. If you missed the webinar, you can watch the live demo here. We explain networking, agenda, exhibition and […]
Cleveland-Cliffs is getting back to normal after idling 15 facilities in three months due to the impacts of COVID-19. As of today, all facilities, including the AK Steel Dearborn furnace, are back to operation with the exception of North Shore and Tilden, which will resume next week. Idling costs of around $50 million will be […]
Nucor President and CEO Leon Topalian has had quite the year, taking the reins of Nucor in January and then steering the company through the COVID-19 pandemic. Unlike Nucor’s blast furnace competitors, the EAF-based steelmaker was able to continue operations relatively unabated during the past two quarters. “Our ability to continue operating, along with proactive […]
Nucor President and CEO Leon Topalian has had quite the year, taking the reins of Nucor in January and then steering the company through the COVID-19 pandemic. Unlike Nucor’s blast furnace competitors, the EAF-based steelmaker was able to continue operations relatively unabated during the past two quarters. “Our ability to continue operating, along with proactive […]
Watch the market closely. I am hearing rumors that at least one EAF mill is trying to get flat rolled numbers up. Right now, most (not all) data providers were not supportive of higher numbers. I am hearing integrated mills are not booking a lot of spot business, and thus are able to get slightly […]
SMU Virtual Steel Summit Conference now has less than a month to go… (25 days). The SMU platform from which the conference will be hosted will be unveiled in a free webinar at 11 AM ET this morning. We added a couple new speakers to the 2020 SMU Virtual Steel Summit Conference. I added Big […]
Here is a listing of the companies registered for the SMU Steel Summit 2020 Virtual Conference as of last week. Note that those companies with an * after their name means more than one person is attending. If your company is missing, or if you have questions about your registration, please contact Events@SteelMarketUpdate.com. You can […]
Here is a listing of the companies registered for the SMU Steel Summit 2020 Virtual Conference as of last week. Note that those companies with an * after their name means more than one person is attending. If your company is missing, or if you have questions about your registration, please contact Events@SteelMarketUpdate.com. You can […]
Lead times for spot orders of flat rolled and plate steel have seen relatively little change over the past month, but remain about a half week shorter than this time last year as the market tries to come to grips with doing business in a pandemic. Lead times are an indicator of steel demand—shorter lead […]
Below is the agenda for the 2020 SMU Steel Summit Conference. For more information and to register, visit: www.SteelMarketUpdate.com/Events/Steel-Summit. Rising from the Ashes All timings are in EST and all Agenda items will be available on-demand as well as live Monday, August 24, 2020 08:00 AM How to Get the Most from the Virtual Conference: […]
Below is the agenda for the 2020 SMU Steel Summit Conference. For more information and to register, visit: www.SteelMarketUpdate.com/Events/Steel-Summit. Rising from the Ashes All timings are in EST and all Agenda items will be available on-demand as well as live Monday, August 24, 2020 08:00 AM How to Get the Most from the Virtual Conference: […]
Nucor surprised analysts with earnings significantly higher than expected for the second quarter of 2020. Earnings for Q2 totaled $108.9 million or $0.36 per diluted share despite Nucor’s own guidance for $0.10-0.15 per share and analyst forecasts of $0.12 to $0.14. The company admits poor forecasting ability resulted in the welcome discrepancy, along with strategic […]
NOTE: Steel Market Update will be moving to a new Azure server tomorrow. Most of the day our website will be down as we make the transition. The website should be back up on Saturday and we intend to publish on Sunday as usual, barring any technical difficulties. We are in an interesting time for […]
We are in an interesting time for the steel industry. The pandemic is just one factor behind the stress in the market. The price increase announcements by the integrated steel mills, U.S. Steel, AK Steel and ArcelorMittal, have created another issue for steel buyers. An executive with U.S. Steel saw the slides associated with yesterday’s […]
Chicago-based Feralloy Corp. plans to locate a $17.5 million processing facility on Nucor Steel’s Gallatin campus in Kentucky. The company will lease a 60,000-square-foot facility and purchase steel coils directly from Nucor for further processing. The Gallatin site will service customers in the Ohio Valley and eastern U.S. and create 30 jobs. According to the […]
The 2020 SMU Virtual Steel Summit Conference promises to be much like every Steel Summit Conference: large audience, exceptional networking opportunities, strong exhibition area topped off by the strongest slate of speakers we have ever put forward. If you spend the few dollars needed to attend ($350 all in if your company is an SMU […]
The 2020 SMU Virtual Steel Summit Conference promises to be much like every Steel Summit Conference: large audience, exceptional networking opportunities, strong exhibition area topped off by the strongest slate of speakers we have ever put forward. If you spend the few dollars needed to attend ($450 is full price but $350 all in if […]
Quite a bit has happened over the past two days as we have added new speakers and have had quite a few new registrations for the 2020 SMU Virtual Steel Summit Conference. First the speakers: SMU is pleased to announce the addition of Mark Millett, President & CEO of Steel Dynamics, and Maximo Vedoya, CEO […]
Quite a bit has happened over the past two days as we have added new speakers and have had quite a few new registrations for the 2020 SMU Virtual Steel Summit Conference. First the speakers: SMU is pleased to announce the addition of Mark Millett, President & CEO of Steel Dynamics, and Maximo Vedoya, CEO […]
“Blunt force demand trauma.” That is how Ryerson President & CEO Eddie Lehner described the market environment as a result of the COVID-19 crisis. One really can’t use the word “unprecedented” too much when discussing the effects of the pandemic on the economy and industry, said Lehner. Losing 30 percent of demand in 30 days […]
The 2020 SMU Virtual Steel Summit Conference is coming together very nicely. Steel Market Update and our parent company the CRU Group have been working diligently on the agenda for the 2020 SMU Virtual Steel Summit Conference. We have been adding new speakers to the group we already had committed for the live event, and […]
Steel Market Update’s next Community Chat webinar on Wednesday, July 8, will host CRU Senior Analyst Ryan McKinley, who will offer an update on the global ferrous scrap market and answer metallics-related questions from listeners. Ferrous scrap prices began to trade this afternoon with obsolete grades dropping by $20 per gross ton, and prime grades […]
California Steel Industries notified customers on Monday that it will be lowering the extra charge for galvanized coatings due to declines in the market price of zinc. CSI advised customers: “Due to changing zinc costs, our Galvanized Coating Extras have been revised. These changes will be effective beginning with orders placed for August shipment and […]
Contractors Steel, a division of UPG Enterprises, has hired Jim Gould as West Region Sales Manager. In his new role, Gould is responsible for the business development of Contractors Steel’s newest service center location in Phoenix, scheduled to open in the fourth quarter. Gould joins Contractors Steel with more than 30 years of experience in […]
For the second year in a row, Nucor Corp. was recognized as a General Motors Supplier of the Year during a virtual ceremony on June 24. Less than 1 percent of GM’s suppliers receive this award. Nucor remains the only electric arc furnace steelmaker to get this recognition. Supplier of the Year award winners were […]