Steel imports into the U.S. increased by nearly 20 percent in the first nine months of the year, giving imports an estimated 28 percent share of the U.S. steel market—much to the ire of domestic steelmakers. Citing preliminary Census Bureau data, the American Iron and Steel Institute on Wednesday reported that steel imports year to […]
Twice per month, Steel Market Update conducts an analysis on the flat rolled steel market. Our focus is on pricing and price direction, demand, inventory management, international steel, buyers’ sentiment, service center spot price direction, mill lead times and negotiations, and more. We have been conducting our market analysis going back to late 2008. The […]
Steel plate producer SSAB Americas saw higher prices and volumes in the third quarter. The segment reported good demand early in the quarter, which weakened as the period progressed. Sales jumped 31 percent from the prior year and 6 percent from Q2, for a total of SEK 3.34 billion ($407 million). Shipments increased 12 percent […]
Reliance Steel & Aluminum experienced an uptick in orders for energy and nonresidential construction during the third quarter. Demand, in general, was stronger than anticipated, however tons sold are expected to decline 4.0 to 6.0 percent in the fourth quarter due to seasonal slowdowns and fewer shipping days. Reliance anticipates the average selling price in […]
It has only been one week since ArcelorMittal USA increased flat rolled steel prices. As the week progressed, it became obvious that steel mills were reacting to the price announcements in different ways. We heard from steel buyers that some mills withdrew open quoted pricing and repriced at new levels at least $40 per ton […]
Many of the domestic steel mills raised prices on Tuesday and Wednesday of this past week. ArcelorMittal USA lead the way by announcing specific “minimum” base prices on hot rolled ($625 per ton), and cold rolled and galvanized steels ($825 per ton each). The other mills all announced $40 per ton price increases (which to […]
The delay by the Trump administration in making a decision on Section 232 is allowing further damage to the steel industry, said Nucor CEO, Chairman and President John Ferriola during the company’s third-quarter conference call. Ferriola said he is not surprised by the surge of imports that have come into the U.S. since spring. Countries […]
Service centers’ daily steel shipments in September were 0.9 percent higher than in August, matching the average since 2009. Therefore, the latest numbers were exactly on the historical track for this time of year, according to Steel Market Update’s analysis of Metals Service Center Institute data (MSCI). Carbon steel shipments were 144,400 tons per day […]
Flat rolled steel prices continued their slow slog south (prices are moving lower). The pace has not accelerated, but there are questions as to whether some of the mills are cutting “quiet” deals in order to fill their fourth-quarter order book without giving the steel away. One service center put it to us this way: […]
Prior to the ArcelorMittal USA price increase announcement, Steel Market Update analysis of steel prices found flat rolled steel prices continuing their slow slog south (prices are moving lower). The pace has not accelerated, but there are questions as to whether some of the steel mills are cutting “quiet” deals in order to fill their […]
September steel shipments by U.S. service centers were essentially unchanged from September 2016. U.S. steel inventories increased on a year-over-year basis for the first time since August 2015, stated the Metals Service Center Institute in its September Metals Activity Report. U.S. service center shipments of all steel products in September totaled 3.043 million tons, about […]
Steel shipments by Canadian service centers in September totaled 356,600 net tons, down 8.0 percent from the previous month, and down 3.8 percent from September 2016, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 17,800 tons per day in September (a 20-day month), up from 17,600 tons per day […]
The next Steel 101 steel training workshop will be held in Mobile, Ala., and will include a tour of the SSAB Mobile minimill. Registration is open, and the workshop currently is almost half full. “SMU Steel 101 is a great learning tool for anyone working in the steel industry in any position. I wish I […]
One of the questions we get regularly is what are steel buyers and sellers of steel saying about their business (demand) and inventory levels? Over this past week, Steel Market Update spoke with quite a few companies and asked them how they were seeing business and if their company was building flat rolled or steel […]
One of the questions we get regularly is what are steel buyers and sellers of steel saying about their business (demand) and inventory levels? Over this past week, Steel Market Update spoke with quite a few companies and asked them how they were seeing business and if their company was building flat rolled or steel […]
The pace of the slide affecting flat rolled and plate steel prices quickened this past week. Steel Market Update (SMU) analyzed the price movements reported by Platts, SteelBenchmarker and SMU and found that almost every product was lower by the end of the week than it was the previous week. Benchmark hot rolled broke through […]
JSW Steel USA’s first-quarter FY 2018 sales more than doubled from a year ago. Revenue from operations totaled $58.67 million compared to $25.26 million in Q1 FY 2017. EBITDA was positive at $5.1 million after a loss of $5.45 million in last year’s corresponding quarter. The plate mill at the Baytown, Texas, facility produced 65,491 […]
This Steel Market Update analysis of sheet and plate imports by district of entry and source through August 2017 includes both coiled and cut-to-length plate for the first time. We believe that misinformation (or a lack of) about regional import volumes is often used to influence purchase decisions. Our intent with this analysis of tonnage […]
Some key price levels have been left in the dust when it comes to flat rolled and plate prices. On Friday of this past week, Steel Market Update (SMU) reduced the lower end of the range on hot rolled and our average dropped below $600 per ton. This week our HRC took a hit on […]
Responses to several subjects in last week’s Steel Market Update flat rolled steel market trends questionnaire shared a common thread. Comments on demand, pricing, purchases of foreign steel and inventory levels all tended to reflect a bearish attitude among many flat rolled and steel plate service center executives. · On the subject of steel demand, […]
I have been working on two major projects today: flat rolled and plate pricing for our steel index and flat rolled steel service center inventories as of the end of September. I finished the first project on pricing, which showed mixed results with some price erosion on a couple of items and stable prices on […]
On Tuesday of this past week, Steel Market Update (SMU) advised our readers that our range on hot rolled pricing was $580-$630 per ton with an average of $605 per ton ($30.25/cwt). As the week progressed, we received more information that has caused us to drop the lower end of our range to $560 per […]
Steel Market Update (SMU) found steel prices mixed this past week on not only our own index, but also that of Platts. In the past, we have seen this when there is limited buying due to a slowdown in business or in relationship to an expansion of inventories. Benchmark hot rolled was lower this past […]
Total rolled steel imports declined by 5.8 percent in the three months through September, compared with the three months through June. Sheet product imports were down by 3.9 percent on the same basis. The final license data for September was reported by of the U.S. Commerce Department on Oct. 3. The data is reported within […]
It’s 10 PM and I am on a flight back to Florida having spent the last three days in Fort Wayne, Ind. We hosted one of the largest Steel 101 workshops in our history and the workshop went well. We spent Wednesday going over the classroom materials and then that evening our workshop was hosted […]
Flat rolled steel prices continue to “drift,” with some items drifting lower, some staying the same and cold rolled actually increasing by $5 per ton. One commercial officer at a steel mill told SMU that in his view the range has shrunk for the products they produce. Even so, “We are finding business, and it […]
Flat rolled steel prices slipped across the board this past week. All three steel indexes followed by Steel Market Update (SMU) saw prices as being down from as little as $1 per ton to as much as $20 per ton. Benchmark hot rolled continues to close in on $600 per ton with SMU down $5 […]
ArcelorMittal USA will idle its rolling mill in Conshohocken, Pa., within the next year and consolidate its plate operations. Production from the mill will be transferred to the Coatesville and Burns Harbor facilities. The heat treat and inspection operation will continue at Conshohocken using steel rolled by the sister facilities. The decision to idle the […]
When asked to comment on spot flat rolled steel prices this week, the president of a medium-sized service center told SMU, “Drifting. Demand seems down.” He went on to report that even with AK Steel and ArcelorMittal reporting extending lead times, the market “feels soft.” Other steel buyers reported that their perception of the market […]
A minor fire at the ArcelorMittal Burns Harbor plate mill caused a shutdown in operations on Friday. The fire began in the control room for one of the 160-inch shear lines. Firefighters responded to the incident from five area fire departments, said spokeswoman Mary Beth Holford. Paramedics evaluated two employees for smoke inhalation, but both […]