Nucor Corp. aims to increase base prices for steel plate by at least $50 per ton ($2.50 per cwt) with the opening of its May order book. The plate increase is the first of its kind for the steelmaker since March 31, 2021, according to SMU’s steel mill price increase calendar. Nucor had repeatedly maintained […]
US plate prices have steadily increased over the past two weeks, largely in response to repeated mill price hikes. The most recent increase came from Cleveland-Cliffs when the steelmaker aimed to increase base prices for steel plate by at least $60 per ton ($3 per cwt). It was Cliffs’ first official plate price notice in […]
SMU polled steel buyers on a variety of subjects on Monday and Tuesday of this week, including current and future steel prices, inventory strategies, supply, demand, and new mill capacity. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your thoughts, too! […]
February license data indicate that steel imports will have totaled 2.19 million net tons last month, down 16.2% from January. February levels are also down 13.8% when compared to the previous 12-month average. Recall that monthly import levels declined nearly 17% month on month (MoM) in November, before rebounding in December and January. February figures […]
JSW Steel USA said it is the first steel company in the US to adopt Environmental Product Declarations (EPDs). The steelmaker said that with new technology, called “Smart EPD,” it can directly generate and publish verified digital EPDs on demand. Developed by sustainability consultancy TrueNorth Collective, JSW USA said the Smart EPD platform is based on […]
Leeco Steel has added processing equipment at its Portage, Ind., distribution center. The Lisle, Ill.-based plate supplier said it has put in a Messer MPC2000 MC combination cutting and drilling machine. It is capable of plasma cutting, oxy fuel cutting, beveling, drilling, tapping, counter sinking, and etching. Leeco noted that this expands its processing capabilities […]
Aggressive mill price increases are pushing flat-rolled tags up at a sharp clip, rivaling the spike seen in response to the war in Ukraine last March. On Friday, Nucor came out with yet another notice – up an extra $150 per ton ($7.50 per cwt) and setting a new base price for hot band of […]
Ryerson has acquired metals processor and distributor BLP Holdings LLC (BLP). BLP consists of three Houston-based companies: Absolute Metal Products, Metal Cutting Specialists, and Houston Water Jet. Terms of the deal were not disclosed. “BLP and its divisions offer advanced processing solutions aligned with our commitment to growing our high-margin, value-added business,” said Alan Singleton, president […]
The US International Trade Commission (ITC) made a preliminary determination that the domestic steel industry has been “materially injured” by imported tin mill products. The US Commerce Department will therefore continue its investigation into the matter. The proceeding started in January when Cleveland-Cliffs and the United Steelworkers (USW) filed a trade case alleging the following […]
Mexico has historically relied on steel sheet product imports to meet its demand as domestic suppliers, such as Ternium and AHMSA, had insufficient production capacity. But, in recent years, both Ternium and ArcelorMittal have built new capacities for hot-rolled (HR) coil in Mexico. Ternium is also in the process of building more downstream capacity and […]
Steel mill lead times are following prices as they continue to trend upward, according to SMU’s latest market survey. SMU’s hot-rolled lead time is approximately six weeks, up from 5.4 weeks in our last market check two weeks ago. The result is notable because it marks a second consecutive and significant gain. Recall that lead times had been steady just below […]
Steel buyers are finding mills much less willing to negotiate lower prices this week, according to SMU data. Respondents to our latest survey reported that most mills were unwilling to negotiate lower sheet prices. Some said plate mills were still willing to cut deals. Every two weeks, SMU asks steel buyers whether domestic mills willing to negotiate lower […]
A majority of shares in Mexican steelmaker Altos Hornos de México (AHMSA) has been sold to a group of foreign investors, according to reports in the Mexican press. Shareholders of Grupo Acerero del Norte signed an agreement to transfer the majority of AHMSA shares to the group of foreign investors, an article in Milenio said on […]
Cleveland-Cliffs Inc. aims to increase base prices for steel plate by at least $60 per ton ($3 per cwt). The Cleveland-based steelmaker said the move was effective immediately on all new, non-contract orders. It applies equally to as-rolled, normalized, and quenched-and-tempered material, Cliffs said in a press release on Thursday, March 2. “Cliffs also reserves […]
February came in with a bang and went out with one too. We saw two rounds of $50-per-ton sheet price increases early in the month. Then one of $100 per ton. And finally Cleveland-Cliffs came in near the buzzer on Monday with another $100-per-ton price hike. We think that was the last shot of the […]
Last week’s mill price increases continue to make their way into the market. Cliffs’ latest this week – up another $100 per ton ($5 per cwt) and setting a new base price for hot band of $1,100 per ton – has yet to be reflected in today’s pricing. But that hasn’t stopped it from garnering […]
Cleveland-Cliffs aims to push its hot-rolled coil price up by at least another $100 per ton ($5 per cwt) in its fourth sheet price hike this month. Cliffs made the announcement in a press release on Monday, Feb. 27, just six days after announcing another $100-per-ton increase. Cliffs said its new target base price for hot […]
US plate prices have remained mostly flat this week, a trend we’ve seen since Nucor announced a plate price cut in late November. Recall that in late November, Nucor said it would be lowering plate prices by $140 per ton ($7 per cwt) with the opening of its January order book. Plate tags have varied […]
SSAB Americas has announced plans to increase plate prices by at least $60 per ton ($3 per cwt). The price hike applies equally to as-rolled, normalized, quenched-and-tempered, and wide cut-to-length plate products. It is effective immediately on all new, non-contract orders, the company said in a letter to customers on Friday, Feb. 24. SSAB said […]
Imported sheet and plate products’ arrival at US ports declined in December, leading their share of the US markets to edge lower, while domestic shipments gained ground during the month. That’s according to a Steel Market Update analysis of import data from the US Commerce Department and domestic shipment figures from the American Iron and […]
Total US mill shipments of steel products declined in December, easing for the second straight month after fluctuating up and down for much of the year. December was the lowest mill shipment total for 2022, falling to the lowest total since February 2021. Shipments totaled 7.27 million tons in December, a 1% decrease from November’s 7.34 […]
Sheet prices increased this week as another blitz of price hikes – this time $100 per ton ($5/cwt) – spurred the market higher. The latest announcements from the likes of Nucor, Cliffs, US Steel, and ArcelorMittal, all setting a new base price for hot band of $1,000 per ton, are yet to be reflected in […]
Sheet prices continue to push higher even as buyers contacted by Steel Market Update remain divided about the state of demand. Hot-rolled coil lead times now stand at 5.41 weeks, up from 4.94 weeks in our prior survey and marking the first time this year that HRC lead times have broken out significantly above five […]
Algoma Steel has installed the first structural steel columns this week at its electric-arc furnace (EAF) steelmaking facility in Sault Ste. Marie, Ontario. The Canadian steelmaker said that on-site assembly of the structure is targeted for completion within the year. The company partnered with Hamilton, Ontario-based Walters Group Inc. in fabricating and erecting the main EAF […]
Nucor Corp. will again keep plate prices unchanged with the opening of its April order book. The steelmaker has now repeatedly maintained its plate tags since its sharp price cut in late November when it lowered plate prices by $140 per ton ($7 per cwt). The Charlotte, N.C.-based steelmaker said the move was effective on […]
The percentage of steel buyers polled finding mills willing to negotiate prices has sunk back below 50% this week, according to SMU data. No product surveyed exceeded 50%, with Galvalume the only product to hit the 50% mark. Every two weeks, SMU asks hundreds of steel buyers: Are you finding domestic mills willing to negotiate spot pricing […]
Steel mill lead times, following recent pricing moves, have pushed upwards, according to SMU’s latest market survey. SMU’s hot-rolled lead time is approximately 5.4 weeks, up from 4.9 weeks at our last check of the market two weeks ago. The result is notable because lead times have been just below five weeks since the beginning of […]
Reliance Steel & Aluminum Co. saw its best financial performance in 2022 on record-breaking sales of $17.03 billion, nearly 21% above 2021. The results were achieved “across nearly every metric during a period of continued metal price volatility and broader economic uncertainty,” Reliance president and CEO Karla Lewis said in earnings commentary released on Thursday, Feb. 16. […]
Editor’s note: Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact Lindsey Fox at lindsey@steelmarketupdate.com Flat Rolled = 52.9 Shipping Days of Supply Plate = 45.8 Shipping Days of Supply Flat Rolled US service center flat-rolled steel supply in January reflected typical […]
Sheet prices rose again this week as a blitz of $50-per-ton ($2.50/cwt) price hikes spurred the market higher. Steel Market Update’s hot-rolled coil price now stands at $825 per ton, up $15 per ton from last week and nearing the highest levels we’ve seen since late July. The difference: HRC prices were on their way […]