All flat rolled steel prices, with the exception of cold rolled (and plate which we do not currently measure), were reported as being more negotiable at the domestic mills this past week. This result is based on the Steel Market Update proprietary flat rolled steel market survey which was concluded last Thursday (February 20th). Eighty-eight […]
A stronger performance is expected in all end-markets for 2014 said Reliance Steel & Aluminum in the company’s recent conference call. The following are some comments by Chief Executive Officer and Chairman of the Board David Hannah and Gregg Mollins, President and Chief Operating Officer on the steel market and industry. Regarding pricing Gregg Mollins […]
Total service center carbon steel shipments jumped by 662,100 tons in January which was a smaller start-of-year bounce than either 2012 or 2013. January tons per day shipments increased by 24,000 to 158,500 tons. In January 2012 and 2013, tons per day shipments increased by 35,000 and 38,000 tons, respectively. Intake was 167,100 tons, leading […]
Flat rolled steel prices were mixed compared to this time last week. The combination of our survey coupled with direct channel checks found hot rolled and galvanized prices slightly weaker while cold rolled and Galvalume prices remained the same as last week. The SMU Price Momentum Indicator continues to reference prices as moving lower over […]
The move by the domestic mills to reach $700+ per ton hot rolled is nothing but a blur in the rear view mirror according to the various steel indexes followed by Steel Market Update. Flat rolled steel prices fell across the board on hot rolled, cold rolled, galvanized and Galvalume steels this past week. The […]
Essar Steel Algoma posted a net loss of 38.6 million for the third quarter FY 2014, ending December 31, 2013, compared to a net loss of $25.1 million for third quarter FY 2013. Severe winter weather slowed incoming raw material shipments affecting production for the quarter. Steel shipments were 590,837 tons, down from 642,000 tons […]
Scrap prices for February deliveries to the domestic mills have settled in most areas of the country. In Chicago and the Upper Midwest we are seeing prices down from the previous month as #1 HMS (heavy melt scrap) is at $390 per gross ton, shredded scrap ranges from $400-$410 per gross ton (average $405) and […]
The various indexes we follow on a regular basis all had prices on benchmark hot rolled moving lower this past week. Platts took the biggest leap moving from $675 to $660 in one week. SMU dropped $5 per ton to $660. Plate prices rose at Platts but dropped with CRU. The result is we are […]
Leeco Steel, a supplier of carbon, HSLA, heat-treated and alloy steel plate, will open its first Florida sales and distribution center in Tampa. This will be the eleventh location for the Illinois-based company. The 98,000 square foot facility will have drive-through bays and rail service and is scheduled to be operational by April. Processing equipment […]
I want to take a moment to thank Mark Bush, General Manager Mobile Operations for SSAB Americas as well as Brent Major of SSAB Americas for their hospitality during our tour of the SSAB Mobile steel facilities as part of our most recent Steel 101 workshop. Our group was impressed with the steelmaking as well […]
According to scrap experts, most of the domestic mills canceled their January orders at the close of business this past Friday when shipment of the past due scrap had not already been made. Cancellations are standard operating procedure by the domestic mills when they believe scrap prices will drop once the new month’s negotiations are […]
The two strongest products during the month of January were cold rolled (fully annealed) and plate. Both of these products saw spot price appreciation during the month. Hot rolled was a mixed bag with SMU now holding the lowest average at $665 per ton as of last week. At one point during the month every […]
According to scrap experts, most of the domestic mills canceled their January orders at the close of business this past Friday when shipment of the past due scrap had not already been made. Cancellations are standard operating procedure by the domestic mills when they believe scrap prices will drop once the new month’s negotiations are […]
Steel Market Update follows a number of indexes and their average price points on hot rolled, cold rolled, galvanized, Galvalume as well as plate. Steel Market Update (SMU) found prices slipping on three of the four products we currently index – hot rolled, galvanized and Galvalume. CRU also picked up some modestly weaker numbers as […]
For the first time in what seems like forever, the four indexes followed by Steel Market Update, as well as our own, have benchmark hot rolled coil at the same average during the same week. Hot rolled coil was reported by all indexes this past week at $675 per ton ($33.75/cwt). The similarities stopped there, […]
Steel Market Update (SMU) released ourr latest Steel Buyers Sentiment Index which measures how buyers and sellers of flat rolled steel feel about their company’s ability to be successful in the current business environment. The mid-January Sentiment Index was measured over the period January 20 through February 23, 2014 and is being reported at +44. […]
SSAB plans to acquire Finnish steel company rival Rautaruukki for 10.1 billion kroner ($1.8 billion) in a deal that the two companies hope will bring a cost savings of 1.4 billion kroner ($254 million) in three years. The major stockholders at both companies, Solidium Oy (39.7 shares) at Rautaruukki and Industrivaerden AB (18.2 shares), are […]
Two of the indexes followed by Steel Market Update (three including our own indices) saw prices as beginning to drop for the first time in many weeks. The average hot rolled number dropped $3 per ton to $678. The cold rolled results were mixed with SMU and SteelBenchmarker (which is only published twice per month) […]
Canadian service center shipments for all steel products were reported at 348,700 net tons (NT) in December, down 26.3 percent over November figures but up 3.0 percent from December 2012 shipments. With 20 shipping days in December, daily shipments are calculated to have been 17,400 tons per day, down from 23,700 tons per day the […]
The Metal Service Center Institute (MSCI) released steel shipment and inventory data for the month of December and for the full year 2013. Total steel inventories rose and ended the month of December at 8,367,700 tons which is an increase of 387,800 tons from the previous month. The daily shipment rate dropped from 153,400 tons […]
Altos Hornos de México (AHMSA) is pulling nearer to its goal of producing 5 million tons of steel per year. Production in 2013 reached 4.16 million tons, up 7 percent from 2012. Shipments of steel products totaled 3.55 million tons. AHMSA’s new Steckel mill produced 80,000 tons of steel plate in the final months of […]
Earlier today (January 14, 2014) SSAB announced to its customers an increase for all new orders for non-contract As Rolled Carbon and High Strength Low Alloy, Normalized Plate, Alloy Plate including Quenched and Tempered, Cut to Length and Plate > 72” wide and Hot Rolled Coil > 72” wide, by a minimum of $30 per […]
In the 12 months through November the US imported 29,129,427 tons of all steel products including semi finished, exported 11,594,574 tons for a net steel trade deficit of 17,534,853 tons. The major net importer was Brazil with 3,591,401 tons. Canada and Mexico both imported more from the US than they exported to the US resulting […]
Evraz NA said it may need to lay off more than 400 steel workers at the Evraz Regina mill in Saskatchewan due to transportation problems at the Canadian Pacific and Canadian National railways. Warning notices were sent last week to approximately 420 of its 510 employees in the company’s tubular steel division. Evraz says pipe […]
Cargill will build its eighth U.S. steel processing center in response to increased demand for carbon steel sheet & coil products used in the manufacturing and shale oil and gas industry in Northern Colorado. The hot-rolled steel processing facility, located 60 miles north of Denver in Windsor, will begin construction in early 2014 and provide […]
In the United States approximately 60 percent of the steel produced is through electric arc furnaces (EAF) used by so-called “mini-mills.” Electric arc furnaces use primarily scrap along with pig iron or DRI (direct reduced iron) to charge the furnaces. All of the long products (rebar, bar, angles, beams) are produced through EAF technology and […]
The U.S. Department of Commerce recently released revised import statistics for the month of November and December. Total preliminary imports for November are 2,584,176 net tons (NT), down 16.7 percent compared to October import figures. November imports are below both the 3 month-moving-average (3MMA) and 12 month-moving-average (12MMA) calculated through October. December imports, based on […]
We are finally back to a full “normal” week and we should be able to gather much better market intelligence as we begin our next flat rolled market analysis with our survey invitations going out at 8 AM ET on Monday morning. Most buyers should be back in their offices on Monday so we anticipate […]
In the first half of 2013 the profit on one ton of steel sold in China was only 0.43 Yuan. At that rate, it took the sale of two tons to earn just enough money to buy an ice cream bar or Popsicle. A far cry from peak profits of 1000 Yuan per ton. The […]
Steel Market Update (SMU) spoke with Ryan Letz, CEO/President of Willbanks Metals a hot rolled and plate distribution and value-add services company located in Fort Worth, Texas. The Letz brothers had just announced the purchase of the assets and the book of business of First Process Steel, Inc. out of Tulsa, Oklahoma with the following […]