Commercial Metals was granted approval for an operating air permit that clears the way for construction of its micro mill in Mesa, Ariz. “Receiving the air permit is an important milestone in our latest micro mill project, which we have named Arizona 2,” said Tracy Porter, Executive Vice President and Chief Operating Officer. “With the […]
Final Census data shows that finished steel imports rose 24% from February to March, as more U.S. buyers sought relief from climbing domestic prices and limited supplies. March finished imports were just shy of 1.80 million tons, the highest level seen since August 2019. April finished steel import licenses are currently down 6% from March […]
By CRU Analyst George Pearson from CRU’s Steel Monitor Chinese prices have rebounded this week after three consecutive weeks of decline. However, trading in markets outside of China was lower last week as buyers waited for further developments in Chinese prices and this fed through to lower w/w gains in Europe and the U.S. U.S. […]
Final Census data shows that finished steel imports rose 23% in March to 1.78 million tons, as more U.S. buyers sought relief from climbing domestic prices and limited supplies. This is the highest finished-steel import level seen since August 2019 when finished imports were 1.80 million tons. Total steel imports were 2.29 million tons in […]
Nucor posted its best quarter ever with net earnings of $942.4 million in first-quarter 2021. Net sales soared 33% to $7.02 billion in the quarter on higher steel prices and shipments. “The first quarter of 2021 was the most profitable quarter in our company’s history. We are clearly reaping the rewards from our prior investments […]
Russian steelmaker NLMK said sales in its U.S. division increased 16% in Q1 2021 to 430 million metric tons. The increase was driven by hot-rolled and galvanized steel. Sales of hot rolled increased 17% from the fourth quarter of 2020 and galvanized steel sales soared 37%. Sales of cold rolled fell 13%. On a year-over-year […]
Final Census data shows that finished steel imports rose 15% in February to 1.45 million tons, as more U.S. buyers sought relief from climbing domestic prices and limited supply. This is the highest finished-steel import level seen since May 2020. Total steel imports were 1.90 million tons in February, down 22% month-over-month, due to January’s […]
Looking for a Top… Looking for Steel…. As we conduct our analysis of the flat rolled and plate steel prices this week, we cannot help but notice the pace of increases has slowed…or is the slowing due to many mill order books being closed and having nothing new to offer. The availability of spot tonnage […]
Looking for a Top… Looking for Steel…. As we conduct our analysis of the flat rolled and plate steel prices this week, we cannot help but notice the pace of increases has slowed…or is the slowing due to many mill order books being closed and having nothing new to offer. The availability of spot tonnage […]
Finished steel imports jumped by 14% from January to February, according to preliminary Census figures, as buyers placed more foreign orders in search of relief from short supplies and high prices in the U.S. February imports totaled an estimated 1.89 million tons, which is actually 22% lower than January overall. But January’s total was inflated […]
By CRU Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service The strength and longevity of the current uptrend in steel prices has surprised many market participants, and mill maintenance outages are expected to keep lead times extended. The latest lead time survey on March 15-17 from Steel Market Update, which is part of […]
Commercial Metals Co. achieved a strong second quarter in its 2021 fiscal year despite a challenging period beset by rising scrap costs and weather disruptions. Earnings from continuing operations totaled $66.2 million on net sales of $1.6 billion. Shipments of finished steel totaled 1.44 million tons, the steelmaker reported. CMC Chairman, President and CEO Barbara […]
U.S. raw steel production rose again, a trend that has continued for five weeks and counting. Weekly steel production by U.S. mills totaled 1,761,000 tons in the week ending March 16, pushing production up 0.3% compared with the week prior when production was 1,755,000 tons. The small increase may reflect some seasonality as construction and […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have been steady in the past week as stricter pollution controls in China have been lifted and seaborne supply has been strong. On Tuesday, March 16, CRU has assessed the 62% Fe fines price at $166.0 /dmt, up $1.0 /dmt […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have risen by $10 /dmt in the past week as Tangshan cuts have raised steel margins and steelmakers in other regions are seeing an uplift in production. On Tuesday, March 30, the 62% Fe fines price was assessed at $168 […]
By CRU Analyst Dave Thewlis, from CRU’s Steel Long Products Monitor Prices among all types of long products rose again in April, the most challenged of which remains wire rod. February’s winter storms, which were extreme enough to cause a 2.2% m/m decline in U.S. industrial production, made a difficult situation worse for wire rod […]
By CRU Principal Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have jumped by over $30 /dmt in the past week as Chinese markets reopened with exceptionally bullish sentiment among futures traders. Both iron ore and steel prices witnessed unprecedented price increases in the past week and on May 11, CRU […]
By CRU Analyst George Pearson, from CRU’s Steel Monitor Chinese prices continued to buck the global trend this week as further government meetings about preventing higher steel prices being passed on to consumers were taken seriously by the market and trading activity reduced. Prices in Europe and the U.S. are still rising, with U.S. plate […]
By CRU Principal Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have fallen back to $200 /dmt as Chinese demand continues to weaken and the country’s ports have registered the highest level of iron ore inflow since Q1. On Tuesday, July 27, CRU assessed the 62% Fe fines price at $200.0 /dmt, […]
By CRU Senior Analyst Ryan McKinley from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose by 14.4% m/m in March to 354.4, bouncing back above levels seen in January. China’s return to the steel market following New Year holiday celebrations there helped lift steel and scrap prices in Asia, while seasonally constrained […]
This report examines the import share of sheet, plate, long and tubular products. As of January, imports’ share of total sheet products was 12.8%, up marginally from 12.3% in December. Although minimal, imports of sheet products have posted increases for two consecutive months after declining for seven consecutive months following the most recent peak of 16.6% […]
January U.S. steel imports surpassed 2.42 million tons, according to final Census data released last week, up 62% from December due to the quarterly surge in semifinished product imports. Focusing on finished steel imports only, January figures are down from December by 7%. February import licenses are currently at 2.02 million tons through March 5 […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]
U.S. steel imports show mixed signs, according to January preliminary Census data. January steel imports are currently reported at 2.42 million net tons, up 62% from one month prior due to the quarterly surge in semi-finished product imports. Focusing on finished steel imports only, January figures are down from December by nearly 90,000 tons or […]
This report examines the import share of sheet, plate, long and tubular products. As of December 2020, imports’ share of total sheet products was 12.3%, up from 11.4% in November. The increase, albeit marginal, is notable as it’s the first increase for imports after declining for seven consecutive months following the most recent peak of 16.6% in […]
U.S. steel imports are on the upswing. December steel import figures were finalized at 1.50 million net tons, up 9% from one month prior and up 18% over September’s 11-year low of 1.26 million tons. January import licenses are up 47% from the month prior to 2.20 million tons, the highest monthly level seen since […]
Nucor is investing to grow in capability not capacity, said Nucor President and CEO Leon Topalian in remarks Tuesday during the virtual Tampa Steel Conference, co-hosted by Steel Market Update. “It’s not about tons and volume, but about servicing customers’ long-term needs,” he said. One growing customer segment for Nucor is the auto industry. Nucor […]
Nucor is investing to grow in capability not capacity, said Nucor President and CEO Leon Topalian in remarks Tuesday during the virtual Tampa Steel Conference, co-hosted by Steel Market Update. “It’s not about tons and volume, but about servicing customers’ long-term needs,” he said. One growing customer segment for Nucor is the auto industry. Nucor […]
Nucor, the industry’s largest steelmaker, is expecting a significant increase in earnings in the first quarter of 2021 following a strong fourth quarter with net earnings of $398.8 million. Fourth-quarter earnings outpaced the third quarter at $193.4 million and Q4 2019 at $107.8 million due primarily to higher pricing at Nucor’s sheet and plate mills. […]
The Biden administration’s cancellation of the Keystone XL pipeline has prompted the United Steelworkers union in Canada to prod Ottawa to implement “Buy Canadian” policies in a bid to stem job losses. “Layoffs and plant closures seem to be the only orders on the books for many Canadian steel plants,” said USW Western Canada Director Stephen […]