The United Steel Workers will be negotiating new contracts with U.S. Steel and ArcelorMittal later this year. The current three-year contracts expire August 31, 2015. Discussions start a few months before and serious bargaining begins about a month before contract expiration, said USW Communications Director Wayne Ranick. Contract negotiations are frequently contentious battles as evidenced […]
January steel exports totaled 925,428 net tons (839,535 metric tons), down 0.4 percent over December and down 3.9 percent from January 2014. Total January figures are below both the thee month moving average (3MMA) and the twelve month moving average (12MMA). Here is a breakdown of flat rolled and plate exports: Cut plate exports declined […]
The pace of the drop in flat rolled steel prices slowed this past week. From our perspective, we saw hot rolled prices as down $5 per ton, cold rolled and galvanized as flat and Galvalume up $5 per ton compared to the previous week. All of the reporting steel indexes (SMU, CRU & Platts) followed […]
According to Baker Hughes data from March 6th, 2015, the U.S rig count for the week was 1,192 rigs exploring for or developing oil or natural gas. The rig count is down 75 rigs when compared to last week, with oil rigs down 64 to 922 rigs, gas rigs down 12 to 268 rigs, and […]
Licensed data for February was updated on March 3rd through the Steel Import Monitoring System of the US Commerce Department. Steel Market Update publishes several import reports ranging from this very early look using licensed data to the very detailed analysis of final volumes by district of entry and source nation which is published in […]
Someone asked me recently what value is there in a publication like ours? Perhaps the best real life example I have to reference is about the two decisions made here in Dawson County, Georgia to build first, a new jail and then second, a new courthouse. The county ignored my warnings when they built the […]
The Russians are coming! The Russians are coming! Well, at least that is what the rest of the world is seeing when it comes to steel. The Russian steel mills have become the benefactors of the drop in the value of the Russian currency (the ruble). Steel Market Update has learned the Russian ruble lost […]
Steel Market Update (SMU) concluded our 5th flat rolled steel market survey earlier today. After evaluating the responses we found buyers and sellers of flat rolled steel continue to be optimistic about their company’s ability to be successful both in the current as well as the future steel markets (3-6 months out). The SMU Steel […]
Every week the US Department of Commerce (US DOC) releases steel import license data for those months that have not had Preliminary Census or Final Census data announced. The latest license data was released this afternoon covering the month of February through today. Since we are so early into the month of March SIMA did […]
According to Baker Hughes data from February 27th, 2015, the U.S rig count for this week is 1,267 rigs exploring for or developing oil or natural gas. The count is down 43 rigs when compared to last week, with oil rigs down 33 to 986 rigs, gas rigs down 9 to 280 rigs, and miscellaneous […]
For the first time in many weeks, Steel Market Update, Platts and CRU hot rolled price indices are almost the same. SMU and Platts see HRC prices as averaging $515 per ton while CRU is two dollars higher at $517 per ton. Cold rolled prices did not meet the same fate as Platts sees CRC […]
Have I mentioned lately that our next Steel 101 workshop will be held in the Chicago area and will include a tour of the NLMK Indiana mini-mill? Details are on our website or you are welcome to contact our offices at: 800-432-3475 or info@SteelMarketUpdate.com. We believe this will be another excellent program as we bring […]
Total service center carbon steel shipments in January increased by 372,400 tons to 3.368 million tons. There was a decrease of one shipping day to 21 in January. On a tons per day basis (t/d) shipments increased from 126,200 in December to 160,400 in January. In the eleven years since 2004 January shipments on average […]
Steel Market Update (SMU) Steel Buyers Sentiment Index was measured at +53 earlier today based on the results of our most recent flat rolled steel analysis conducted this week. The +53 is 7 points higher than what we reported at the beginning of the month. Our Steel Buyers Sentiment Index measures how buyers and sellers […]
According to data just released by the Metal Service Center Institute (MSCI), U.S. service centers shipped 3,523,600 tons of all steel products during the month of January 2015. The daily shipment rate was 167,800 tons per day which was a slight improvement over January 2014 when the daily shipment rate was 165,800 tons. However, last […]
The U.S. Department of Commerce released the latest import licensing data for the license requests received through the 18th of February. Steel Market Update (SMU) then compares the daily tonnage rate against the previous four months and the daily license rate being reported during the 3rd week of that particular month. Based on that analysis, […]
Reliance Steel & Aluminum fourth quarter consolidated sales rose 11.7 percent year over year to $2.58 billion. Tons sold increased 4.4 percent year over year to 1,469,300 tons. Carbon steel sales of $1.4 billion fell 5.9 percent sequentially with tons sold down 4.7 percent to 1,999,300 tons. The average selling price per ton of steel […]
Steel Market Update recently attended the Port of Tampa Steel Conference in Tampa, Florida. When speaking with the service centers and traders it was apparent that we are in a period of time when buyers do not trust that the price today will be any good tomorrow. Our Comparison Price Indices report accentuates the issues […]
USW Local 2251 reports that Essar Steel Algoma is terminating 55 positions due to a decline in plate steel orders. According to a report by Soo Today, most of the employees have not completed their probationary period. The job cuts follow an announcement Jan. 23 confirming a contract for 1500 tonnes of plate for construction […]
Flat rolled steel buyers are resigned to a steel price spot market which takes benchmark hot rolled prices below the $500 per ton ($25.00/cwt) level. One of the large hot rolled service centers this morning told Steel Market Update that they were having a difficult time keeping up with the pace of the falling numbers. […]
SSAB Americas posted sales of SEK 3.5 billion ($421.8 million) in Q4, a 17 percent increase from third quarter. For the full year 2014, the Americas segment had sales of SEK 13.2 billion ($159 million) up from SEK 11.1 billion ($133 million) in 2013. Fourth quarter external steel shipments were down 13 percent year over […]
The range between indexes shrank this past week as benchmark hot rolled coil price averages dropped to $541 per ton, with SMU and Platts now even at $540 per ton and CRU slightly higher at $543 per ton. We did not include SteelBenchmarker pricing as they only produce pricing twice per month and we have […]
The U.S. Department of Commerce released final foreign steel import license data late last week, showing final December tonnage at 3.64 million net tons (3.30 metric tons). This is a 1.5 percent decrease over November imports but 45.1 percent higher than December 2013 levels. Below is a table comparing November, December, and January steel imports […]
Licensed data for January was updated on February 3rd through the Steel Import Monitoring System of the US Commerce Department. The SMU publishes several import reports ranging from this very early look using licensed data to the very detailed analysis of final volumes by district of entry and source nation which is published in our […]
SMU Price Momentum Indicator has been stuck pointing lower for a number of months, ended the month of January as it did at the end of November and December. We saw SMU Steel Buyers Sentiment Index improve by +1 point in January over the month of December. However, when looking at Sentiment based on a […]
Mark Millett, CEO of Steel Dynamics pointed out the inconsistencies in the steel prices being referenced by two of the steel indexes followed by Steel Market Update. Millett spoke about the erosion of pricing and referenced the indexes in this comment, “…But I think our optimism is that American pricing has eroded and it has […]
According to the flat rolled steel price indexes followed by Steel Market Update, many of the flat rolled steel products are seeing their mill pricing erode by $10 per ton or more this past week. The spread between the indexes is relatively modest on hot rolled coil, but is much more pronounced in cold rolled, […]
The Chinese steel industry exported 70,823,201 metric tons (780,691,000 net tons) of steel products during calendar year 2014 according to the Chinese Customs Service. The largest exporting segment was sheet and plate where the Chinese steel mills shipped 32,791,085 metric tons (36,146,000 net tons) to countries outside of China. According to Chuck Bradford, of Bradford […]
First, a correction or clarification from an article done last week about US Steel idling one of their tin plate mills. We understand that USS has tin mill operations in Gary as part of the Gary Works, they also have a plant in Portage, IN which is part of the old National Steel facility and […]
Buyers and sellers of flat rolled steel continue to be optimistic about their company’s chances of being successful in both the current market conditions as well as three to six months into the future. However, there have been some clouds building as our 3MMA has been trending lower over the past four months. We have […]