The European Commission will begin a new antidumping investigation of Chinese steel imports after finding that a complaint by steel association Eurofer merits inquiry. Eurofer alleged in a complaint on Oct. 24, 2016 that imports of certain corrosion resistant steels from China are being dumped and causing material injury to the EU steel industry. The […]
As you think about your business and where you think benchmark hot rolled prices will be in 2017 and 2018 one of the areas you need to consider are the energy markets. The energy markets have been in the doldrums for the past few years due to low oil and natural gas prices. The net […]
On Wednesday SSAB, Nucor and ArcelorMittal USA all announced a $40 per ton price increase on plate products. In a letter emailed to their customers Nucor advised of their intention to increase plate prices with: Effective immediately, the Nucor Plate Mill Group will increase transaction prices on all new orders for carbon, alloy and heat-treated […]
Wilbur Ross Jr. has been tapped by President-elect Donald Trump to serve as Commerce Secretary. Ross is a billionaire investor known as the “bankruptcy king.” Forbes estimates the Ross fortune at $2.9 billion made by buying and restructuring troubled companies. One of those companies was Donald Trump’s bankrupt casino in the 1990s. Ross was a […]
Flat rolled steel prices continued to increase this past week with both Steel Market Update and Platts reporting steady to upward movements for all products. The average hot rolled price between SMU and Platts is $560 per ton (up $10 over last week), and the average cold rolled price is $775 per ton (up $18 […]
The Department of Commerce has announced its affirmative final determinations in the antidumping investigations of imports of steel cut-to-length plate from Brazil, South Africa and Turkey. Brazil mandatory respondents were assigned dumping margins of 74.52 percent based on adverse facts for failure to cooperate in the investigation. All other producers and exporters in Brazil will […]
Steel Market Update went out to a couple of hundred steel buyers and executives today as we probe for information about flat rolled steel prices. At the same time we asked questions about price direction and demand. Tonight we will cover price direction (prior to AM increase announcement) and on Thursday we will cover their […]
Twice per month Steel Market Update (SMU) conducts a survey of the flat rolled steel markets. We invite close to 600 people representing approximately 550 companies spread out around the United States and Canada. We concentrate on two main steel buying groups: manufacturing companies and service centers/wholesalers. Our most recent market trends analysis was completed […]
Flat rolled steel prices continued their march higher this past week with both SMU and Platts reporting movement in the average prices of hot rolled, cold rolled, galvanized, Galvalume and plate products. Platts moved their prices by large double digits this past week. Platts took hot rolled up $35 per ton, cold rolled up $45 […]
Flat rolled steel prices increased on two of the three steel indexes with benchmark hot rolled up $45 per ton according to Steel Market Update with Platts reporting HRC prices as being up $10 per ton. SteelBenchmarker, on the other hand, saw HRC prices as being down $4 per ton. So, we have quite a […]
Earlier this week the Metals Service Center Institute (MSCI) released end of October shipment and inventories data for the U.S. steel service centers. Total steel shipments (all products) were 3,073,400 net tons which was 8.6 percent lower than October 2015 levels. The distributors shipped 146,400 tons per day which was an improvement over the 145,000 […]
October service center daily shipments improved 1.0 percent from September which is better than it seems because since 2009 on average, October has declined by 2.3 percent. Carbon steel shipments increased by 29,700 tons, the number of shipping days was unchanged at 21 and tons/day shipments increased by 1,400 tons. Intake and shipments In October […]
Licensed data for October was reported by the Steel Import Monitoring System of the US Commerce Department on November 8th. An explanation of the methodology that we at SMU use to analyze the trade data is given at the end of this piece. All volumes in this analysis are reported in short tons. Total rolled […]
Canadian shipments for all steel products in the month of October were 356,600 net tons, a decrease of 3.8 percent from the month before and a decrease of 6.1 percent from October 2015. Inventories at the end of the month stood at 1,080,600 tons, down 3.2 percent from last month and down 11.2 percent from […]
Is everyone strapped in? The rollercoaster is clearly on the way back up and the question today is will benchmark hot rolled exceed the previous cycle highs of $635 per ton ($31.75/cwt) set in mid-June 2016? Flat rolled steel indexes followed by Steel Market Update recorded higher average pricing on hot rolled, cold rolled, galvanized, […]
Buyers and sellers of flat rolled steel responding to our early November flat rolled steel market trends survey were found to be of the same mind as what we measured in the middle of October. Current Sentiment* was recorded as being +53.00 the same as what we reported in mid-October. The +53 is the best […]
As we discussed earlier this week, higher international prices for iron ore, coking coal, pig iron and steel are helping take ferrous scrap export prices higher. SMU had lunch with one of our scrap/pig iron experts who advised that 80/20 scrap export prices may have reached $280 per metric ton delivered. At the same time, […]
Nucor Plate Mill Group was the first of the plate mills to reach out to their customers and advise them of their intention to take plate prices up by $50 per ton. On Tuesday of this week, Nucor sent a letter via email to their customers stating, “Due to current market dynamics, plate pricing has […]
The Department of Commerce announced on Monday its affirmative preliminary determinations in the antidumping investigations of imports of certain carbon and alloy steel cut-to-length plate (CTL plate) from Austria, Belgium, China, France, Germany, Italy, Japan, Korea, and Taiwan. CTL plate is a flat-rolled carbon and alloy steel product that is 4.75 mm or more in […]
The U.S. Department of Commerce (DOC) released Final Census Data on imports of foreign steel for the month of September 2016. Imports totaled 2,775,565 net tons which is 9.5 percent below the August import numbers. The U.S. continues to see strong imports of semi-finished steels (slabs/billets) which are used by the domestic steel mills. Hot […]
Flat rolled steel prices have begun their ascent as the $30 per ton price increase begins to be collected by the domestic steel mills. Both Platts and Steel Market Update have hot rolled prices moving up by $10 per ton this past week with SMU at $480 and Platts at $485 per ton by week’s […]
Steel Market Update has been discussing the subject of steel prices with service centers from around the country and there seems to be an almost unanimous belief that new price increase announcements will be made between now and Thanksgiving (November 24th). Here is a sample of what the service centers have told SMU over the […]
On Thursday (October 27, 2016) Cliffs Natural Resources conducted their 3rd Quarter 2016 earnings conference call with analysts. During the call Cliffs CEO Lourenco Goncalves made statements regarding steel service centers which he reported as importing “illegal steel,” thus hurting the domestic steel industry. He also pointed out that service center inventories were “dangerously low” […]
The NLMK Group reports combines results for its Foreign Rolled Products Segment which includes NLMK USA and six strip and plate production sites in Europe, including NLMK Dansteel in Denmark. NLMK USA is comprised of NLMK Pennsylvania, NLMK Indiana and Sharon Coating. The segment saw Q3 sales decline to 541,000 tonnes, down 18 percent from […]
Flat rolled steel prices are bottoming out and we are already seeing the potential for hot rolled being the first product to move higher. In the table below are the three steel indexes followed by Steel Market Update. Platts was the first index to report hot rolled prices as moving higher this past week. At […]
SSAB Americas, recorded a third quarter operating loss of SEK 73 million ($8.1 million) compared to a profit of SEK 162 million ($18 million) in Q2 2016. The loss was due mainly to the maintenance outage at Montpelier in the third quarter, higher variable costs, lower volumes and lower capacity utilization which was somewhat offset […]
On Friday morning US Steel became the first domestic steel producer to announce a flat rolled steel price increase. Later in the day Nucor and California Steel Industries (CSI) followed with similar announcements. SMU expects other steel mills to follow with announcements of their own as this new week gets underway. On October 21, 2016 […]
Steel Market Update (SMU) made two market adjustments on Friday afternoon (Friday, October 21st). We have adjusted the range on our hot rolled index to $440 per ton on the low end up to $500 per ton on the high side. Our average is now $470 per ton ($23.50.cwt). This is $10 per ton lower […]
Flat rolled steel prices have broken through some key barriers over the past couple of weeks as benchmark hot rolled crashed through $500 per ton and cold rolled has now broken through $700 per ton. It was not just the Steel Market Update steel index average moving lower, we saw Platts take their steel index […]
Nucor Corporation reported net earnings of $270 million for third quarter, up from 233.8 million in Q2 and 227.1 in Q3 2015. Consolidated net sales in third quarter increased 1 percent to $4.29 billion from the previous quarter and 2 percent from a year ago. Average sales price per ton increased 11 percent QoQ. Tons […]