To everyone who was in New York City for the Steel Success Strategies conference or other meetings surrounding the conference, welcome home. I was quite pleased to hear that our Steel Summit Conference was being discussed in the halls and streets of New York. If everyone who told me they (or their company) were coming […]
Nucor Corp. and JFE Holdings of Japan will enter a joint venture to build and operate a steel processing plant in central Mexico to supply the country’s automotive market. The 50-50 venture will cost $270 million to construct and have a capacity of 400,000 tons per year of galvanized sheet steel. The substrate for processing […]
The U.S. Court of Appeals has upheld a lower court’s dismissal of a lawsuit brought by Nucor Corp against Big River Steel. The suit charged that the Big River Steel permit air permit was invalid and the continued construction of the mill violated the Clean Air Act. The district court dismissed the lawsuit for “lack […]
Steel Technologies LLC plans to invest $18 million in a new processing facility in Smyrna, Tennessee. The 83,000 square foot facility will create 50 new jobs and handle both steel and aluminum sheet. “This new greenfield operation expands our exposed and unexposed automotive slitting and blanking capabilities,” Steel Technologies Vice President of Operations Randall Patterson […]
For many years, SMU publisher John Packard sold ultra light gauge galvanized steels (.019”-.010”) into the furnace pipe manufacturers across the United States and Canada. This product is one that is not championed by the domestic steel industry as the domestic steel mills would rather run thicker steels (more tonnage per hour through their mills) […]
The following article was written by Lisa Reisman, Managing Director and CEO Of Azul Partners, Inc., on May 24, 2016 and is reprinted with permission of MetalMiner: Jennifer Diggins is the director of Government Affairs at Charlotte, N.C.-based Nucor Corp., the largest steelmaker in the U.S. and North America’s largest recycler of any material (Nucor […]
Steel Market Update received a note from trade attorney Lewis E. Leibowitz regarding an “ex parte” memorandum from former Michigan Governor and current President of the Business Rountable, John Engler, about the AD investigation of imports of cold rolled steel from Japan. Mr. Engler was intervening on behalf of Steelcase and their subsidiary PolyVision which […]
We tend to see the various steel indexes become more “in tune” with one another once the steel mills decide to take a wait and see attitude about the market. Over the past few weeks, U.S. steel mills have (once again) managed to expand the spread between U.S. steel prices and those of foreign steel […]
Today, the Department of Commerce announced its affirmative final determinations in the AD investigations of imports of certain cold-rolled steel flat products (cold-rolled steel) from China and Japan, and CVD investigation of imports of cold-rolled steel from China. Commerce determined imports of cold-rolled steel from China and Japan have been sold in the U.S. at […]
The Nucor Plate Group and SSAB have both raised plate prices by a minimum of $40 per ton. The SSAB increase applies to all non-contract business on rolled mill plate, cut-to-length plate as well as hot rolled coils greater than 72″ in width. The SSAB increase includes normalized as well as quench-and-temper plate. Nucor was […]
On May 17, 2016, the Department of Commerce is scheduled to announce its final determinations in the AD investigations of imports of certain cold-rolled steel flat products from China and Japan and CVD investigation of imports of certain cold-rolled steel flat products from China. The investigations cover certain cold-rolled, flat-rolled, steel products, neither clad, plated, […]
Auto/Steel Partnership – May 11, 2016 — In an effort to assist automakers in meeting stringent fuel economy requirements, the Auto/Steel Partnership (A/SP) announced today the Hemming of Thin Gauge Advanced High-Strength Steel (AHSS) project achieved a 30 percent weight savings using thinner gauge AHSS for automotive closure panels. “The Hemming team achieved positive results […]
Nucor Corp. announced today that it will expand its Vulcraft/Verco Group into Canada. The new production facility, Vulcraft Canada, Inc., will be located near Hamilton, Ontario and will serve the Central and Eastern markets. The facility will produce steel joists, joist girders, and decking. Product fabrication is expected to begin later this year. “We are […]
Scrap prices settled higher by $20 to $30 per gross ton delivered to the domestic steel mills, according to Steel Market Update (SMU) scrap sources. The rise in ferrous scrap prices has been one of the driving factors behind the flat rolled price increases announced by the domestic steel industry over the past few months. […]
AISI, Salt Lake City, Utah – The Board of Directors of the American Iron and Steel Institute (AISI) has elected John Ferriola, chairman, president and CEO of Nucor Corporation, to serve as chairman of the Institute until May 2017. “John is a dedicated and outspoken advocate for our industry, and has engaged his employees and […]
On April 29, 2016, the Department of Commerce initiated an antidumping duty (AD) investigation of imports of certain carbon and alloy steel cut-to-length plate (CTL plate) from Austria, Belgium, Brazil, China, France, Germany, Italy, Japan, Korea, South Africa, Taiwan, and Turkey, and countervailing duty (CVD) investigations of imports of CTL plate from Brazil, China, and […]
Last year in conjunction with Steel Success Strategies I had a lunch with a number of steel buyers, executives and two derivatives traders (one being Andre Marshall of Crunch Risk, LLC). We all gave our opinions as to where we thought benchmark hot rolled coil would be by early June 2016 when we will return […]
Steel buyers are beginning to brace themselves for what may well be another tumultuous month of allocations, closed order books and even higher steel prices. At this point it is a foregone conclusion with most buyers that there will be another increase. The question really is how much higher will prices go during the month […]
Joy Global Inc, a manufacturer of equipment for the mining industry, is looking for a buyer for its Longview, Texas steel plate mill. The Longview specialty mini-mill makes small batch, thick and extra thick steel plate for use in some of Joy Global’s premier mining equipment. Joy Global confirmed it is looking at a potential […]
Steel Market Update received the following email from a large service center in the United States. This executive, who wished to remain anonymous, enjoyed the article we produced in Sunday evening’s edition of our newsletter entitled, “2016 To be a Year of Volatility?” This executive discussed the issue of supply and the possible reversal of […]
Nucor announced first quarter 2016 consolidated net earnings within its projected range. Net income was $70.8 million and consolidated net sales were $3.72 billion, a 7 percent increase from Q4. Average sales price per ton decreased 11 percent from Q4, total shipments to outside customers was 5,148,000 tons. Nucor steel mills produced 5,390,000 tons of […]
On Wednesday afternoon the Nucor Plate Mill Group announced a new price increase on all new orders as well as all existing spot orders acknowledged for the week of June 4th production and beyond. Plate spot prices will increase by a minimum of $40 per ton. We have seen flat rolled steel price increase announcements […]
A worker was killed Saturday at Nucor-Yamato Steel in Blytheville, Ark., during an equipment malfunction. Jon Bishop, 34, was performing maintenance work on a roll mill stand when the malfunction occurred, said vice-president and general manager, Leon Topalian. Bishop was a two year employee of Nucor-Yamato and worked in the Rolling Mill Mechanical Area. The […]
On Friday, US Steel announced a $60 per ton flat rolled steel price increase. This was the first US Steel announcement done in public in some time. The increase came in the form of a letter emailed to their customers. U.S. Steel did not provide minimum base price guidelines in their announcement although minimum price […]
The global steel industry situation and its impact on U.S. steel industry is the topic of discussion this week at hearings held by the United States Trade Representative and Department of Commerce in Washington DC. Representatives from the steel industry, manufacturing, mining and Congress are giving their opinions and suggestions during three days of hearings, […]
I will be doing an article in Sunday evening’s newsletter about the AISI capacity utilization numbers. The AISI produces their “estimate” of steel production and the percentage of capacity utilization based on 50 percent (or fewer) of the mills reporting production data. I have considered not publishing the data at all because, in my opinion, […]
Is Now the Time to Panic as Steel Mills Control Their Order Books? The flat rolled steel markets continue to march to their own drummer. Lead times are extending, spot flat rolled steel prices are rising and many of the mills are not opening their order books for spot business. There are a number of […]
You will be hearing and seeing much more about whether China should be allowed to have “market economy” status. While I don’t pretend to be an expert on the subject, I am learning that as a market economy any trade suits against China would have to be conducted differently than what is currently being done […]
A week ago Steel Market Update reported that three domestic steel mills would file an antidumping suit against a number of foreign countries who have been exporting cut-to-length (CTL) plate to the United States. On Friday the three mills identified in our earlier reporting filed their petition. A trade petition against 12 countries was filed […]
Steel buyers were pulling out their hair earlier today due to the number of mills holding tons off the market as they try to determine what the new pricing should be on hot rolled, cold rolled, galvanized and Galvalume products. As of early this afternoon (Thursday) steel buyers were informing Steel Market Update of a […]