SSAB and its green steel partners LKAB and Vattenfall have launched HYBRIT’s pilot facility for fossil-free hydrogen gas storage. The first-of-its-kind rock cavern storage facility is in Luleå, northeast Sweden. The launch of the new storage concept marks the beginning of a two-year test period, which will run until 2024, the company said. The unique […]
SSAB AB has named Leena Craelius as chief financial officer. Craelius had held the position of acting CFO since Nov. 1, 2021, succeeding Håkan Folin, who joined mining and infrastructure equipment make Epiroc. Craelius will take up her new position immediately and will be based in Stockholm, the Swedish steelmaker said in a press release […]
SSAB and Alfa Laval have partnered to develop a heat exchanger engineered with fossil-free steel, the first of its kind. The goal is to roll out the first unit made with hydrogen-reduced steel by 2023, SSAB said. “We’re proud to welcome Alfa Laval as a partner and look forward to jointly exploring ways forward to […]
Prices are down across the board this week. That’s not new if you’ve been paying attention lately. Price increases are often announced. Decreases rarely are. What’s new is Nucor’s almost aggressively transparent pricing strategy – announcing not only price increases but also flat and decreasing prices. That is new on the sheet and plate side […]
Carbon border adjustments could be an effective tool for rewarding clean steel production, but any efforts need to be comprehensive and very closely monitored, US steel industry executives said this week during the Town Hall Forum at the Association of Iron & Steel Technology’s AISTech 2022. To truly be effective, carbon border adjustments need to […]
Mill executives said they are ready for the demand infrastructure spending would generate during AISTech 2022’s Town Hall Forum in Pittsburgh this week. “The infrastructure bill is positive for the entire industry and for downstream industries, but we need to cut red tape,” Cleveland-Cliffs chairman, president and CEO Lourenco Goncalves said. “The bill is great. […]
SSAB Americas aims to increase plate prices by at least $50 per ton ($2.50 per cwt) effective immediately on all non-contract orders confirmed to ship on or after July 3. The Mobile, Ala-based steelmaker said the price hike would be $65 per ton CAD for customers in Canada. The increase applies equally to as-rolled, normalized, […]
First, I want to commend Michael Cowden for the outstanding Final Thoughts he has been creating for our readers. I also want to thank the SMU team for doing an excellent job over the past few weeks since Tim Triplett retired. We have new people coming soon, but in the meantime Brett Linton and David […]
Swedish steelmaker SSAB posted a strong start to 2022 with better-than-expected first-quarter results. The solid performance across all divisions was thanks to high steel prices, offsetting disruptions in Raahe, Finland, and Americas’ operations, the company said. SSAB Americas’ revenue was $7.465 billion Swedish krona ($767 million USD) in the first quarter of 2022, more than […]
Today we are sharing the full proposed agenda for the 2022 SMU Steel Summit Conference. As you will note there are a few programs where we are in negotiations with speakers or working on making sure the program is fresh for those who have attended our conference in the past. There are several themes we […]
Today we are sharing the full proposed agenda for the 2022 SMU Steel Summit Conference. As you will note there are a few programs where we are in negotiations with speakers or working on making sure the program is fresh for those who have attended our conference in the past. There are several themes we […]
SSAB Americas plans to increase prices on as-rolled, normalized and wide cut-to-length plate by at least $60 per ton ($3 per cwt). The Mobile, Ala.-based steelmaker said the price hike would be $70 CAD per ton for customers in Canada. “SSAB Americas reserves the right to re-quote any open offers not confirmed by an SSAB […]
Steel Market Update has been working on the agenda for the 2022 SMU Steel Summit Conference, which will be held in Atlanta on August 22-24. This year’s conference will address many of the issues affecting the flat-rolled and plate steel markets. Over the next few issues, we will roll out our conference program, many of […]
Steel Market Update has been working on the agenda for the 2022 SMU Steel Summit Conference, which will be held in Atlanta on August 22-24. This year’s conference will address many of the issues affecting the flat-rolled and plate steel markets. Over the next few issues, we will roll out our conference program, many of […]
SSAB Americas aims to increase prices on all quenched-and-tempered (Q&T) products by at least $100 per ton ($5 per cwt). The price hike is $125 CAD per ton for customers in Canada, the company noted. The move is effectively immediately on all non-contract orders confirmed to ship on May 1 or later, SSAB said in […]
The US Department of Commerce has decided to continue countervailing duties of 4.35 percent on cut-to-length steel plate from South Korea. “Commerce determines that revocation of the (duty) Order would be likely to lead to continuation or recurrence of countervailable subsidies,” according to an entry in the Federal Register dated Friday, April 1, 2022. The decision stems […]
SSAB Americas has increased plate prices by $63 per ton ($3.15 per cwt) based on a raw materials surcharge mechanism unveiled last week. The Mobile, Ala.-based steelmaker said the higher prices would apply to all new spot orders as well as both new and existing contractual agreements effective April 3. The company reiterated that the […]
Flat Rolled = 54.4 Shipping Days of Supply Plate = 51.1 Shipping Days of Supply Flat Rolled U.S. service center flat rolled inventories continued to recede in February, indicating that inventories may be near balance. At the end of February, U.S. service centers carried 54.4 shipping days of supply on an adjusted basis, according to […]
Steel Market Update’s hot-rolled coil price was at $1,050 per ton ($52.50 per hundredweight) last week. Several mills are now offering hot band at $1,200 per ton ($60 per cwt). I don’t know where things will settle when we adjust prices on Tuesday. But I think it’s fair to say that prices will be significantly […]
In his remarks during Wednesday’s Community Chat, Johnny Sjöström, the top executive at SSAB Special Steels, suggested that the fighting in Ukraine will make nations more gun-shy about becoming too dependent on their foreign trading partners. Nations in Europe and many other parts of the world are scrambling to maintain production without the exports of […]
The global steel industry will see ripple effects from the war in Ukraine for years to come. Its direct and indirect effects will cut European steel capacity by 30-40% in the near term as the conflict disrupts the flow of natural gas and steelmaking raw materials – most notably steel slabs from Russia, said Johnny […]
SSAB Americas will put in place a raw material surcharge (RMS) in response to skyrocketing raw material costs. The Mobile, Ala.-based steelmaker said the move was necessary because of “extraordinary market pressures brought on by recent global events,” in a letter to customers dated Wednesday, March 9. The global events in question are almost certainly a reference to […]
Johnny Sjöström, head of Special Steels for SSAB, will be the featured speaker for the next SMU Community Chat on Wednesday, March 9, at 11 am ET. Sjöström will speak about SSAB’s Special Steels segment and its place in the broader global steel industry. {loadposition reserved_message} He will also talk about Russian forces invading Ukraine […]
Johnny Sjöström, head of Special Steels for SSAB, will be the featured speaker for the next SMU Community Chat on Wednesday, March 9, at 11 am ET. Sjöström will speak about SSAB’s Special Steels segment and its place in the broader global steel industry. He will also talk about Russian forces invading Ukraine and the […]
Johnny Sjöström, head of Special Steels for SSAB, will be the featured speaker for the next SMU Community Chat on Wednesday, March 9, at 11 am ET. Sjöström will speak about SSAB’s Special Steels segment and its place in the broader global steel industry. Sjöström was appointed head of Special Steels in 2018. He joined […]
Johnny Sjöström, head of Special Steels for SSAB, will be the featured speaker for the next SMU Community Chat on Wednesday, March 9, at 11 am ET. Sjöström will speak about SSAB’s Special Steels segment and its place in the broader global steel industry. Sjöström was appointed head of Special Steels in 2018. He joined […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor, Feb. 9 The global sheet market often exhibits price trends that vary by region. Occasionally, prices do move in the same direction, though on these occasions, prices typically reflect a unified trend of global costs or inventory change. In the current sheet […]
Steel prices may be nearing the end of the current correction, predicted Majestic Steel USA President and CEO Todd Leebow during Wednesday’s Steel Market Update Community Chat. In the great debate over where declining hot rolled prices will finally settle – back to historical averages in the $400-600 per ton range or closer to $1,000 […]
Swedish steelmaker SSAB saw its best full-year earnings in company history in 2021 with all divisions posting record results thanks to high steel prices, the company said. SSAB Americas’ revenue was $6.153 billion Swedish krona ($650 million USD) in the fourth quarter of 2021, up 78% compared to the same year-ago quarter thanks to higher steel […]
Temperatures today in a large portion of the Northern U.S. are at or below freezing. This is not expected to change once we move into February. As you watch football this weekend, the weather in Tampa is expected to be in the low to mid-70’s and sunny…. Registrations for the 2022 Tampa Steel Conference are […]