January imports rally to a seven-month high
January’s import level was even higher than an earlier license count had suggested, making it the highest month for imports since June 2023.
January’s import level was even higher than an earlier license count had suggested, making it the highest month for imports since June 2023.
Falling US sheet prices have reduced the attractiveness of hot-rolled (HR) coil imports as domestic mills price competitively to secure limited business. However, tightness in the CR coil market has extended delivery to June or July in some cases, and buyers may consider to import given competitive prices and arrival times.
ArcelorMittal indicated that a sale of U.S. Steel to Nippon Steel could lead to it taking full control of AM/NS Calvert, its joint venture sheet mill in Alabama. "Typically, in such situations, when there is a selling partner, they sell it to the other partner in the joint venture, right. So I could imagine such a situation would develop,” Mittal said.
ArcelorMittal swung to a loss in the fourth quarter largely because of costs associated with a deadly coal mining disaster last year in Kazakhstan. The Luxembourg-based steelmaker sold its Kazakhstan operations in December and no longer owns and operates coal mines as a result of the move, according to comments released along with earnings data on Thursday.
December’s import level was slightly lower than an earlier license count had suggested, resulting in December marking the second-slowest month for imports in 2023.
JSW Steel USA has teamed up with Primetals Technologies to upgrade its slab casting capabilities at the company's Mingo Junction, Ohio, slab and hot-rolled sheet mill.
U.S. Steel has resumed normal production of cold-rolled coil (CRC) at its Irvin Plant, part of the steelmaker’s Mon Valley Works in western Pennsylvania.
U.S. Steel will continue to operate the hot strip mill and finishing lines at its Granite City Works in southern Illinois.
We have seen a wave of service center transactions announced since the beginning of the month.
There has been almost an assumption that US mills would get the $950-1,000 per ton ($47.50-50 per cwt) they were seeking on HR base and $1,150-2,000 per ton ($57.50-60 per cwt) for cold-rolled and coated base. Recall that Cliffs initially announced an increase and said it was seeking $1,000 per minimum for hot-rolled coil. Nucor […]
Steel Market Update spoke with Jonathan Shank, the new COO of JSW's Mingo Junction mill, on its $145-million investment project.