Last week, we mistakenly published new extras for Nucor that have not yet been announced. We have revised our galvanized coating extras comparison table (see below), which is also available on our website. The table below is available on our website in the menu system under Resources > Steel Mills > Galvanized > Coating Extras […]
Nucor is checking out five states in the Midwest and Southeast as potential sites for a new steel bar micro mill project. Locations in Nebraska, Kansas, Missouri, South Carolina and Florida are under consideration. The board of directors also approved an expansion of Nucor’s existing merchant bar operations in either Illinois or Ohio. The new […]
We will begin our mid-September flat rolled steel market trends analysis first thing on Monday morning. Invitations to participate will go out at 8 AM ET tomorrow morning. We currently send out approximately 650 invitations. Note: We are correcting the galvanized comparison of coating extras as Nucor has not yet made a change to the […]
U.S. Army General Lloyd J. Austin III has been elected to the Nucor board of directors, effective Sept. 18. General Austin, 64, retired as a four-star general in 2016 after nearly 41 years with the U.S. Army. From March 2013 through March 2016, he served as the commander of U.S. Central Command responsible for military […]
Zinc prices have been rising and we are starting to see updated galvanized price extras from the mills. Steel Market Update has received updated galvanized coating extras from Nucor, USS Posco (UPI), NLMK, California Steel Industries (CSI), and AK Steel. We updated the comparison tables on our website and have included a copy of the […]
Editor’s note: Following is a response from Zekelman Industries CEO Barry Zekelman to remarks by Daniel Pearson of the Cato Institute published in Steel Market Update’s Sept. 5 newsletter. Zekelman comments on his position on imports and the current state of steel-related trade into the U.S. During our exchange at the recent SMU Steel Summit […]
Scrap prices are likely to jump by $20 to $30 per ton in the short term as a result of the hurricane and flooding in Houston, predicts John Harris of Aaristic Services, Inc., who was a panelist at Steel Market Update’s Steel Summit Conference last week in Atlanta. Harris did not have time to respond […]
The Commerce Department has extended the deadline for determinations in the anti-circumvention investigation of corrosion-resistant steel from China to Feb. 15, 2018. On Nov. 14, 2016, the anti-circumvention case was initiated on CORE steel products from the People’s Republic of China in response to a request from steel companies ArcelorMittal USA, Nucor, U.S. Steel, AK […]
Tomorrow, Monday, Aug. 28, the steel event of the year will kick off in Atlanta. With over 650 steel and manufacturing executives registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the Steel Market Update Steel Summit Conference. This is what the fuss […]
One of the reasons why the SMU Steel Summit Conference is successful and growing at a time when most conferences are not is due to the options we are given through the support of our sponsors and exhibitors. The cost to put on a three-day conference is truly staggering. Nonetheless, one of our goals has […]
Michael Wagner, who took over as president of the North American Steel Alliance on May 1, hopes to build on the buying group’s 20 years of success. “It’s not broken; it doesn’t need to be fixed. I look at the next 20 years and how we can make it even more successful,” he said. Wagner […]
During the week of Aug. 14, 2017, the U.S. steel mills advised their flat rolled and steel plate customers of their intention to increase spot prices on hot rolled, cold rolled, galvanized and Galvalume steels, as well as plate. The flat rolled mills announced $30 per ton base price increases on new spot business. For […]
No one was surprised when major U.S. steel mills announced a $30 per ton price hike on flat rolled and plate this week. The price hikes were widely expected. But a majority (58 percent) of respondents to SMU’s latest flat roll market trends questionnaire will be surprised if the higher prices stick. Some predict the […]
SSAB Americas announced a $40 per ton price increase on non-contract plate orders, effective Oct. 1. The increase will apply to as-rolled mill plate, cut-to-length plate >72”, hot rolled >72”, as well as normalized and quenched & tempered plate. “SSAB continues to monitor market conditions in order to better realize the value our products bring […]
The number of U.S.-based flat rolled steel mills announcing price increases on hot rolled, cold rolled, galvanized and Galvalume has reached six. On Tuesday of this week, Nucor Sheet Mill Group became the first flat rolled steel mill to raise transaction pricing on spot flat rolled steel. The Nucor increase was for a “minimum” of […]
Four flat rolled steel mills, Nucor, NLMK USA, California Steel Industries (CSI) and ArcelorMittal USA, announced spot price increases today on all flat rolled steels produced at each mill. The Nucor Sheet Mill Group, which handles flat rolled steel products, announced a minimum of $30 per ton ($1.50/cwt) price increase on hot rolled, cold rolled […]
Nucor’s Plate Group announced a $30 price increase on Aug. 14, citing escalating raw material and input costs. Nucor will increase transaction prices on all new orders for carbon, alloy and heat-treated plate by $30 per ton, effective immediately. Plate distributors responding to SMU’s request for comment are generally supportive of Nucor’s move. “The plate […]
The Nucor Sheet Mill Group, which handles flat rolled products, announced a minimum of $30 per ton ($1.50/cwt) price increase on hot rolled, cold rolled and galvanized steel products. The increases are to go in effect immediately, according to the letter emailed to the Nucor customer base this afternoon.
Nucor’s Plate Group announced a $30 price increase today due to escalating raw material and input costs. Nucor will increase transaction prices on all new orders for carbon, alloy and heat-treated plate by $30 per ton, effective immediately, the steelmaker said.
The following steel mills are registered to attend this year’s SMU Steel Summit Conference at the end of this month: ArcelorMittal Mexico, ArcelorMittal Dofasco, ArcelorMittal/Nippon Sumitomo Calvert, Ternium USA, Ternium Mexico, NLMK USA, Nucor, Nucor Mexico, Nucor Canada, Kandil Steel (Egypt), California Steel Industries, AK Steel, CSN USA, North Star BlueScope, Steel Dynamics Inc., The […]
As was mentioned earlier in tonight’s newsletter, our 2017 SMU Steel Summit Conference will be a sell-out this year and the question really is what day this week will we close registrations? I am both surprised and humbled by the response we have gotten to this year’s event. Our team works very hard to put […]
I was advised late on Friday afternoon that we should expect a Nucor price increase early next week. With scrap prices firming $10 to $30 per ton our expectation is for the increase to be $25-$30 per ton. Then the question will be will the industry support another increase after tepid (at best) support for […]
One of the reasons Steel Market Update has constant contact with steel buyers and steel mills is because we are aware that pricing momentum can change on a rumor or a belief that supply or demand is shifting. We are seeing market sentiment being impacted by Section 232. At the same time, scrap prices are […]
Nucor Corporation announced today that it will acquire St. Louis Cold Drawn, Inc., a manufacturer of cold finished steel bar. The company’s cold drawn rounds, hexagons, squares, and special sections serve the U.S. and Mexican automotive and industrial markets and will add to Nucor’s value-added product portfolio. “This acquisition fits with our planned growth strategy […]
SMU scrap sources advised us early this morning of an export sale of an 80/20 mix of ferrous scrap bound for Turkey. Our sources reported the sale price at $350 per metric ton delivered Turkey. The sale price is up approximately $50 per metric ton since early July and $20 per metric ton from last […]
Rumor vs. Fact – I was speaking with Tim Triplett (our Executive Editor who recently joined SMU after a 19 year stint at Metal Center News) and we were talking about the “rumor” of a potential price hike by Nucor. Tim raised the question, as members of the media, is it appropriate for us to […]
Flat rolled steel prices remained range-bound on most items for yet another week. We picked up a couple of points of weakness in coated products, but they seem to be isolated in nature. Many of the steel buyers are reporting the mills (especially Nucor) are talking up the idea of a price increase on flat […]
Ferrous scrap prices are up about $20 per ton across the board on strong domestic demand and scrap export markets “that are on fire,” say SMU’s scrap sources. One scrap metal processor with locations across the country reports HMS at $300, shred at $315 and busheling at $390 per gross ton for August delivery. Export […]
Flat rolled and plate steel prices were essentially flat this past week as both Steel Market Update and Platts saw hot rolled, cold rolled, galvanized and Galvalume steel prices remaining the same as the previous week. With Section 232 being put on the back burner, the flood of foreign steel imports (prompted by the original […]
I adjusted our Price Momentum Indicator from Higher to Neutral. I did this after spending time analyzing the results from last week’s flat rolled steel market trends survey, looking at what was being recorded by some of the other indexes, noting that Congress and the president are on holiday for a few weeks and there […]