Tag: Rebar

Specialty steel producer Grupo Simec has permanently closed down its Republic Steel mills in Canton, Ohio, and Lackawanna, in New York state, it has emerged.

With solid demand and attractive margins, the North American market has been helping to prop up CMC’s results as its European operations struggle with weaker demand amid challenging market conditions.

Turkish scrap import prices have remained relatively stable over the past two weeks due to slow trade activity. This was partly due to the holiday on August 30. CRU’s latest price assessment for HMS1/2 80:20 is $368 /metric ton CFR, up $1 /metric ton week-over-week (WoW) and up $21 /metric ton month-over-month (MoM). The holiday […]

Nucor broke ground on its newest micro mill in Lexington, N.C., on Friday.

Three prominent steel analysts proposed their outlooks for next year in the Steel Price Forecast: Boom or Bust in 2024? panel at Steel Summit 2023 in Atlanta.

Nucor executive Daniel Needham detailed at this year's Steel Summit what’s on the horizon for the steelmaker as the company continues to diversify.

Longs producer and metal recycler Gerdau reported lower second-quarter production and shipments due to several mill outages.

David Stickler is eager to demonstrate how advancements in technology can contribute to making the rebar market more sustainable.

The newly formed Hybar company has secured financing for its planned 630,000-tons-per-year rebar mini mill being built in northeast Arkansas.

A preliminary count of imports during the month of June shows little changes from SMU’s previously reported import license analysis. Total imports were 2,792,674 net tons in June’s preliminary count by the US Department of Commerce. As SMU reported earlier this month, that’s the highest level imports have been over the past year. Flat-rolled imports […]

A preliminary count of imports during the month of June shows little changes from SMU’s previously reported import license analysis, so here we take a look at where all that steel is coming from

Nucor has completed slightly more than 50% of a $10-billion capital expenditures plan to grow its core steelmaking operations, Leon Topalian, company chair, president, and CEO, said in a second-quarter earnings conference call with investors.

Nucor has completed slightly more than 50% of a $10-billion capital expenditures plan to grow its core steelmaking operations, Leon Topalian, company chair, president, and CEO, said in a second-quarter earnings conference call with investors. Here is an update regarding several of the Charlotte, N.C.-based steelmaker’s projects. Nucor Steel Gallatin (Sheet and Tube) Topalian said the […]

On Steel Market Update’s most recent Community Chat, we caught up with Timna Tanners, managing director of Wolfe Research, to hear her latest take on the steel market.

On Steel Market Update’s most recent Community Chat, we caught up with Timna Tanners, managing director of Wolfe Research, to hear her latest take on the steel market. Tanners chatted with SMU managing editor Michael Cowden about the myth of mill discipline within the sheet market. The market isn’t much more disciplined than a few […]

Commercial Metals Co. (CMC) has secured a permit giving it the go-ahead to begin construction of its new micro mill in West Virginia. The Irving, Texas-based longs and scrap producer said on July18 the West Virginia Department of Environmental Protection granted it the permit, allowing for the commencement of construction of its “fourth technologically advanced micro […]

Commercial Metals Co. (CMC) has secured a permit giving it the go-ahead to begin construction of its new micro mill in West Virginia.

Join us for SMU’s next Community Chat webinar with Wolfe Research managing director Timna Tanners. The webinar will be held on Wednesday, July 12, at 11 a.m. ET. It’s free for all to attend. A recording will be available to SMU members. You can register here. We’ll talk about what Tanners describes as “the myth […]

It’s the time of year when I’m going to be banging the drum about Steel Summit – even in the lede to Final Thoughts 🙂 We’ll get to the latest steel market trends in a moment. But first I want to highlight that hotels are still available near the Georgia International Convention Center (GICC) in Atlanta, where […]

US steel imports climbed in June to the highest monthly level over the past 12 months, based on June import license data compiled by the US Department of Commerce. Import license applications reached 2,803,597 net tons in June, according to Commerce’s license count as of July 5. This was a 20.7% spike from the month […]

Join us for SMU’s next Community Chat webinar with Wolfe Research managing director Timna Tanners. The webinar will be held on Wednesday, July 12, at 11 am ET. It’s free for all to attend. A recording will be available to SMU members. You can register here. We’ll talk about what Tanners describes as “the myth […]

European sheet prices have declined sharply by €112-146 per metric ton ($110-144 per net ton) month-on-month (MoM), around 12-18% across all sheet products. In CRU’s latest assessment, German hot-rolled coil decreased by €125 MoM to €689 per metric ton ($680 per net ton), while Italian HR coil saw a drop of €146 to €657 per […]

Positive structural trends in the North American market are supporting strong earnings results for Commercial Metals Co. The Irving, Texas-based longs producer and metals recycler reported lower fiscal third-quarter sales and earnings compared to levels seen in the year-ago quarter during the 2022 earnings boom, but its results remain strong, said CEO Barbara Smith. “CMC […]

The Congressional Steel Caucus held a hearing on The State of the Steel Industry in Washington on Wednesday, June 7, where prominent steel executives and the United Steelworkers (USW) union gave testimony on issues such as international trade and sustainability. In his opening remarks, US Rep. Frank Mrvan (D.-Ind.), vice-chairman of the Caucus, stressed his […]

Sabel Steel Service Inc. has acquired Beaumont, Texas-based metals service center Sampson Steel Corp., effective Thursday, June 1. “Sampson Steel joins the Sabel Steel family with 107 years of history in the metals industry,” Keith Sabel, president and CEO of Sabel Steel, said in a statement via Linkedin. Stephen Eisen, previously president of Sampson Steel, […]

New York-based steel producer 72 Steel Group LLC has announced plans to build a $218-million steel manufacturing plant in Aliquippa, Pa., near Pittsburgh, according to media reports. The plant on a nearly 44-acre site will produce rebar and products widely used in construction, according to an article in the Pittsburgh Post-Gazette. The current owner of the […]

The Congressional Steel Caucus (CSC) has urged the US Department of Commerce and the US Trade Representative to take action to address what it calls a “surge of Mexican steel imports” into the US. The CSC claims the imports are in violation of the US and Mexican 2019 Joint Statement on Section 232 Duties on Steel and Aluminum, […]

The prime scrap and metallic shortage in the US will continue over the next few years, according to Cleveland-Cliffs’ top executive.  “Our conviction that this country’s prime scrap and metallic shortage will continue to tighten over the coming years is at the core of our strategy,” Cliffs’ chairman, president, and CEO Lourenco Goncalves said during […]

April scrap prices have fallen from March levels on weaker market conditions, market participants told SMU. “The four-month streak of price increases from December-March finally came to an end this month with some disparate price declines across the various grades traded and geographically where the trading happened,” one scrap source told SMU. He noted that, seasonally, […]

Some people like to talk scrap, but not many talk as much scrap as CRU’s Senior Analyst, Alexandra (Alex) Anderson.  We sat down with Alex ahead of the ISRI conference to discuss the role scrap plays in the steel industry. A lightly edited version of the interview is below. Steel Market Update: How long have […]