Nucor Corporation announced today that it has agreed to acquire Independence Tube Corporation (ITC), a leading independent manufacturer of hollow structural section (HSS) steel tubing, for $435 million, or approximately 6x average EBITDA over the 2013-2015 period. “Independence Tube is a natural fit with Nucor. Their business model is similar to ours with extremely efficient […]
Tenaris is recalling workers to its Tenaris Algoma Tubes factory in Sault Ste. Marie. The facility which make seamless pipe for the oil and gas industry has been idle since February 8 due to continued adverse market conditions in the energy sector. Tenaris Algoma Tubes said it will recall 120-150 employees and restart production in […]
Wheatland Tube, a division of Zekelman Industries, has filed one of the first allegations of duty evasion under the new ENFORCE Act. The allegation was filed Wednesday with the U.S. Customs and Border Protection (CBP) charging duty evasion by Chinese imports of circular welded steel pipe. The pipe in question is used in solar projects […]
The uncertainty in the market (called the “blahs” by a number of our steel sources) is affecting both buyers and sellers of steel. Steel mills have been doing all that they can in an attempt to keep flat rolled steel prices from slipping too far. One of our mill sources had a sense of humor […]
The price of oil and natural gas have much to do with sales of oil country tubular goods (OCTG) and related steel products. The energy markets represent a large portion of the hot rolled coil used to make pipe and tube, storage facilities as well as equipment used to drill and pump oil and natural […]
The G20 group of nations released their thoughts regarding excess steel capacity and what they are doing to rectify the situation (essentially they are kicking the can to 2017 when they will meet again and hear from an OECD committee on the subject). China has promised to cut steel production by 45 million metric tons […]
Last week the Metal Service Center Institute (MSCI) reported shipments and inventories for the month of July. We produced an article that normally goes to our Premium level members only last week but, one of our clients requested that we produce the report in the format we normally use for our Executive level members. Here […]
Canadian shipments for all steel products in the month of July were 318,700 net tons, a decrease of 14.8 percent from the month before and a decrease of 14.9 percent from July 2015. Inventories at the end of the month stood at 1,100,800 tons, down 1.8 percent from last month and down 25.6 percent from […]
The USITC issued a final determination today that the U.S. industry is materially injured by the import of heavy walled rectangular welded carbon steel pipes and tubes from Korea, Mexico and Turkey and that the products from Turkey are sold in the U.S. at less than fair value and subsidized by the Turkish government. Antidumping […]
Olympic Steel announced net income of $3.6 million in the second quarter 2016, up substantially from the $22.3 million loss in Q2 2015. Consolidated net sales for the quarter were $273.6 million. Second quarter shipments of carbon flat products totaled 272,000 tons, up 2 percent from first quarter, and 2 percent below Q2 2015. Net […]
CHARLOTTE, N.C., July 20, 2016 — Nucor Corporation announced today that it has agreed to acquire Joy Global’s steel plate mill in Longview, Texas, for approximately $29 million. The mill produces carbon and alloy plate products with heat-treating capabilities and has an annual capacity of 180,000 tons. “This acquisition builds on our strategy to capture […]
U.S. steel service centers shipped a total of 3,385,100 net tons of all steel products during the month of June 2016 according to recently released data from the Metal Service Center Institute. This is 5.1 percent lower than one year ago. The daily shipment rate was 153,900 tons up slightly from the 152,600 tons shipped […]
Canadian shipments for all steel products in the month of June were 374,100 net tons, a decrease of 3.7 percent from the month before and a decrease of 14.4 percent from June 2015. Inventories at the end of the month stood at 1,120,500 tons, down 2.6 percent from last month and down 26.0 percent from […]
The price of oil and natural gas have much to do with sales of oil country tubular goods (OCTG) and related steel products. The energy markets represent a large portion of the hot rolled coil used to make pipe and tube, storage facilities as well as equipment used to drill and pump oil and natural […]
Leaders in the steel industry reacted favorably to Friday’s affirmative decision by the International Trade Commission (ITC)’s regarding injury to the industry resulting from the import of corrosion-resistant steel from China, India, Italy, Korea, and Taiwan. Mario Longhi, President and CEO, US Steel Corp.: “United States Steel Corporation is pleased with the International Trade Commission’s […]
The price of oil and natural gas have much to do with sales of oil country tubular goods (OCTG) and related steel products. The energy markets represent a large portion of the hot rolled coil used to make pipe and tube, storage facilities as well as equipment used to drill and pump oil and natural […]
Steel service centers based in the United States shipped and received fewer tons of steel products during the month of May, according to data just released by the Metal Service Center Institute (MSCI). Shipments of all steel products totaled 3,204,800 net tons at a daily shipment rate of 152,600 tons. Last month the daily rate […]
Canadian shipments for all steel products in the month of May were 388,600 net tons, an increase of 4.2 percent from the month before but a decrease of 2.1 percent from May 2015. Inventories at the end of the month stood at 1,150,300 tons, down 9.4 percent from last month and down 26.1 percent from […]
On June 1, 2016, the Department of Commerce announced its affirmative preliminary determinations in the antidumping (AD) investigations of imports of circular welded carbon-quality steel pipe from Pakistan, Oman, United Arab Emirates, and Vietnam. The investigations cover welded carbon-quality steel pipe and tube, of circular cross-section, with an outside diameter not more than 16 inches, […]
The following analysis was done by Peter Wright who writes a number of analytical articles for Steel Market Update. The energy markets are key markets for steel so it is important for our readers to understand oil and gas prices as well as the tubular products associated with drilling and transportation of oil and gas. […]
We will have two articles in tonight’s newsletter regarding the U.S. steel service centers shipment and inventories data just released by the Metals Service Center Institute (MSCI). Shipments of all steel products totaled 3,246,000 tons during the month of April. This is 6.3 percent lower than April 2015 and was slightly lower than March. However, […]
The article below was published to our Premium members yesterday afternoon, but we felt it would be nice to share with our Executive members too. If you would like more information about a Premium membership or would like to upgrade, contact us at info@SteelMarketUpdate.com. Based on Steel Market Update (SMU) analysis of the recently released […]
Canadian shipments for all steel products in the month of April were 372,800 net tons, a decrease of 4.9 percent from the month before and a decrease of 12.9 percent from April 2015. Inventories at the end of the month stood at 1,270,300 tons, up 6.9 percent from last month but down 20.7 percent from […]
Based on Steel Market Update (SMU) analysis of the recently released MSCI service center inventory and shipment data, total service center carbon steel shipments decreased by 84,700 tons in April to 3.091 million tons. This decrease was driven by the number of shipping days, down by 2 to 21. On a t/d basis shipments increased […]
Licensed data for April was reported by the Steel Import Monitoring System of the US Commerce Department on May 3rd. An explanation of the methodology that we at SMU use to analyze the trade data is given at the end of this piece. Total rolled product licensed imports in the single month of April were […]
There is still no light at the end of this tunnel except for coated products which have had three months of shipment growth on a tons / day, (t / d) basis. Total service center carbon steel shipments increased by 142,100 tons in March to 3.176 million tons. This increase was driven by the number […]
The Metal Service Center Institute (MSCI) reported Canadian steel service centers inventories dropped 1.9 percent by the end of March compared to the end of February. Shipments of steel (all products) were 392,200 tons and averaged 17,800 tons per day during the month of March. Total steel shipments were 11.3 percent lower than year ago […]
Total steel and flat rolled inventories declined during the month of March according to just released data provided by the Metal Service Center Institute (MSCI). U.S. steel service centers shipped a total of 3,333,300 tons of steel products during the month of March. Based on a 23 shipping days this equates to a 144,900 tons […]
The following analysis was done by Peter Wright who writes a number of analytical articles for Steel Market Update. The energy markets are key markets for steel so it is important for our readers to understand oil and gas prices as well as the tubular products associated with drilling and transportation of oil and gas. […]
Licensed data for March was reported by the Steel Import Monitoring System of the US Commerce Department on April 5th. An explanation of the methodology that we at SMU use to analyze the trade data is given at the end of this piece. Total rolled product licensed imports in the single month of March were […]