In response to the Trump administration tariffs, South Korea was the first country to agree to a quota and to restrict the amount of steel they can export out of their country to the United States. Steel Market Update’s analysis below shows the potential for the quotas to have a big impact on specific market […]
Flat rolled and plate steel prices moved higher over the past seven days. Steel buyers reported the domestic and Canadian steel mills as being “firm” with their price offers. Even so, steel buyers advised Steel Market Update that even with many mills allocating tonnage or, working on a controlled order entry basis, that they were […]
JSW Steel announced it will invest $500 million in its U.S. plate and pipe operations. The Baytown, Texas, facility will receive $150 million in upgrades and the rest will fund a new hot-end facility to make steel. Texas Governor Gregg Abbott signed an agreement with the company to provide a grant of $3.4 million. The […]
Twice per month, once at the beginning of the month and then again in the middle of the month, Steel Market Update conducts an analysis of the trends impacting the flat rolled and plate steel markets. We invite 640 individuals associated with flat rolled and plate steels in purchasing, sales or executive positions at manufacturing, […]
Flat rolled and plate steel prices continued their march higher, albeit at a more subdued pace compared to the past few weeks. Today, we are going to compare the end of the week flat rolled steel indices provided by Steel Market Update and Platts. SteelBenchmarker did not produce steel prices this week as they only […]
Service center shipments in February were stronger than the seasonal norm, according to Steel Market Update’s latest analysis of Metals Service Center Institute data. Daily shipments in February were 3.8 percent higher than in January. On average since 2009, February shipments have decreased by 0.4 percent; therefore, these latest numbers were seasonally better than the […]
The value of the U.S. dollar has strengthened in the last six weeks, though it remains down for the year. So far in 2018, the dollar has weakened by 8.1 percent, after a turnaround of 2.9 percent from Feb. 2 to March 16. Please see the end of this report for an explanation of data […]
Flat rolled steel prices continue to March higher and are expected to continue to do so for weeks, if not months, due to the Section 232 tariffs on foreign steel and the tightening of supply. Most domestic steel mills are operating on an inquire or controlled order entry basis. Mills like California Steel and NLMK […]
February service center shipments of carbon flat roll, plate, and pipe and tube were all up compared with the same month last year, but down compared with the prior month, according to the Metals Service Center Institute’s February Metals Activity Report. It’s a common seasonal pattern for shipments to start the year strong in January […]
Steel shipments by Canadian service centers in February totaled 383,300 net tons, down 6.5 percent from January’s high, but up 4.8 percent from February 2017, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 19,200 tons per day in February (a 20-day month), up from 18,600 tons per day in […]
We saw another surge in flat rolled and plate steel prices last week as steel buyers deal with closed order books, allocation and uncertainty. With the Section 232 tariffs set to go into effect on Friday of this week (March 23) buyers are scrambling to make sure they are covered. This has allowed the steel […]
Steel Market Update’s 8th Steel Summit Conference will be held at the Georgia International Convention Center on Monday, Aug. 27, through Wednesday, Aug. 29, 2018. We’ve been watching the markets very carefully as we put together our final agenda and have worked hard to select the best speakers possible. On Friday, we added AK Steel […]
Steel Market Update’s 8th Steel Summit Conference will be held at the Georgia International Convention Center on Monday, Aug. 27, through Wednesday, Aug. 29, 2018. We’ve been watching the markets very carefully as we put together our final agenda and have worked hard to select the best speakers possible. On Friday, we added AK Steel […]
SMU will begin our next flat rolled and plate steel market trends analysis beginning at 8 AM ET tomorrow morning (Monday). Please check your inbox (or SPAM filter) for our invitation to participate in the mid-March process. If you would like to be included in this or future surveys, please send an email to info@SteelMarketUpdate.com. […]
The following analysis of the number of months of supply being held by flat rolled steel distributors is intended for SMU Premium level members. We are sharing this report with all of our readers during the first year of the index, after which it will be available for Premium members only. Shortly after the month […]
SSAB Americas announced yesterday, March 14, that it is increasing steel transaction prices by a minimum of $50 per ton for customers in the United States, and $60 per ton for customers in Canada, effective immediately on all new non-contract orders, and for all existing noncontract orders acknowledged for shipment the week of April 29 […]
Last week, Steel Market Update conducted an analysis of the flat rolled steel market trends. We reached out to 640 individuals representing more than 600 manufacturers, steel service centers and wholesalers, steel mills and toll processors and asked dozens of questions related to flat rolled and plate steel usage. One of the key areas of […]
Anticipating the U.S. Commerce Department will soon begin considering applications for exemptions from the Trump administration tariffs on steel and aluminum, South Korea’s Dongkuk Steel has reportedly suspended its April exports to the United States. Reuters quoted a company spokesman who said the steelmaker has put its exports to the U.S. temporarily on hold while […]
SSAB Americas announced yesterday, March 14, that it is increasing steel transaction prices by a minimum of $50 per ton for customers in the United States, and $60 per ton for customers in Canada, effective immediately on all new non-contract orders, and for all existing noncontract orders acknowledged for shipment the week of April 29 […]
Flat rolled sheet prices, as well as plate prices, surged this week as steel mills moved to allocation or totally withdraw from the market pending further examination of the Section 232 ruling and how it will impact each mill’s ability to produce sheet and plate products. SMU is hearing of offers on hot rolled as […]
It is still early, but Steel Market Update is already collecting comments and opinions on how the Section 232 tariffs are going to affect existing business in the United States. We heard everything from allocation stories to a few companies that reported higher prices but no customers for that higher priced steel. “This is a […]
It is still early, but Steel Market Update is already collecting comments and opinions on how the Section 232 steel tariffs are going to affect existing business in the United States. We heard everything from allocation stories to a few companies that reported higher prices but no customers for that higher priced steel. “This is […]
Olympic Steel, a national metals service center, announced the promotion of Thomas Sacco to Regional Vice President. Sacco joined Olympic Steel in operations in 1994. After transitioning to the commercial group, he took on roles of increasing responsibility before being promoted to Regional Sales Manager in 2013. In 2016, he was promoted to his most […]
Imports’ shares of the major steel product markets are all on the decline, reveals a new report on imports from Steel Market Update. The report examines the import share of sheet, plate, long and tubular products and 18 subcategories of these product groups. We think the introduction of this analysis is timely as a way […]
Stronger domestic demand for steel products, combined with feedstock and transportation problems, sent ferrous scrap prices on divergent paths in various parts of the country this month, reports scrap guru Mike Marley of World Steel Exchange Marketing. Tight supplies of key obsolete grades produced pricing moves ranging from unchanged for industrial steel grades in several […]
With the final announcement of Section 232 steel tariffs, we saw steel prices spike (again) with double-digit gains on most products followed by Steel Market Update. The prices referenced in the table below are through the week ending March 10, 2018. Hot rolled prices surged with Platts recording their average as $850 per ton by […]
A small fire occurred at SSAB Mobile on Wednesday evening. The incident was confined to the building of plate processing partner Bastech, said a spokesperson for SSAB. The SSAB steel mill was not impacted and there was no disruption to production. No injuries were reported and an investigation is underway. SSAB’s Alabama steel mill is […]
Total rolled steel imports declined by 14.8 percent, and sheet products by 13.6 percent, in the three months through February compared to the prior three-month period, according to Steel Market Update’s analysis of federal Steel Import Monitoring and Analysis (SIMA) data. This is the second edition of our new and expanded import report that now […]
Ferrous scrap prices have risen at a greater rate than expected by sources quoted in Steel Market Update last month. Scrap guru Mike Marley of World Steel Exchange Marketing reports that recent price increases have varied by region to region, and even within a few regions. In the North, shredded and cut grades are up […]
January foreign steel imports were finalized yesterday at 2,879,076 net tons (2,611,857 metric tons), according to the U.S. Department of Commerce. This is up 17.5 percent from December, and up 4.2 percent from November. It is also slightly greater than import levels seen in January 2017 (2,814,233 tons). Current February license data has imports down […]