The amount of new steel available to the US market, dubbed apparent steel supply, rebounded 7% in March, according to SMU calculations on Department of Commerce and American Iron and Steel Institute (AISI) data.
As we approach “buy week,” a term industry veterans use to refer to steel mill scrap buying time and an excuse to remain in the office, we have seen a variety of slants on the May market.
US steel mill shipments dropped in March on-year but were up from February, according to the most recent figures from the American Iron and Steel Institute (AISI).
Hybar has big plans for entering the American steel market. Although it is the newest player in the US rebar market, the startup is led by an experienced, nimble, and ambitious team, and backed by investors with deep pockets. Industry titan and Hybar CEO David Stickler joined SMU Managing Editor Michael Cowden on Wednesday’s Community Chat to update the SMU community on the company’s first mill, and its grand plans for the future.
On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.
Hot-rolled coil and plate lead times contracted this week, with most other products remaining flat, according to SMU's most recent survey data. Cold-rolled products, however, saw lead times extend 0.1 weeks to an average of 7.5 weeks vs. two weeks earlier. Hot rolled and plate lead times both contracted 0.3 weeks from our last market check.
Sheet steel buyers said mills are more willing to talk price on spot orders, according to our most recent survey data.
Hybar CEO David Stickler will be the featured speaker on the next SMU Community Chat webinar on Wednesday, May 1, at 11 a.m. ET. The live webinar is free. A recording will be available to SMU members. You can register here.
Nucor’s earnings slipped in the first quarter of this year, but the company said it launched key growth initiatives during this time period.
I was in Las Vegas last week for ISRI’s annual convention. I like Vegas. I’ve had some fun there over the years. (I was married there nearly 20 years ago. We're still together.) And last week was no exception. So let’s start with the big news from Sin City. When the recycled materials industry meets for the big event next year, it will be under the banner of "ReMA" – not "ISRI".
Last week gave us a glimpse into the effect of the 2024 election campaign on trade policy. In a major announcement, the Biden administration pressed the US Trade Representative (USTR) to triple certain Section 301 tariffs on steel and aluminum. It’s a lot to unpack. You can find the full text of the announcement here. […]
Steel sheet prices in many regions of the world were steady week over week in the week ended April 17.
After receiving a hefty federal tax credit, ArcelorMittal plans to produce non-grain-oriented electrical steel (NOES) in Alabama. ArcelorMittal Calvert LLC received a tax credit of $280.5 million for the project, according to a Department of Energy (DOE) announcement on Friday. The Qualifying Advanced Energy Project Credit (48C) tax credit is meant to accelerate clean energy […]
Does the price of ferrous scrap depend on the price of finished steel product? And how much of an influence do billet and slab prices have on scrap prices?
The market appears to be taking a pause after the heavy buying that occurred in March.
Steel buyers said mills are more willing to talk price on spot orders on all the products SMU covers, according to our most recent survey data.
The apparent supply of steel in the US fell 6% from January to February, according to data compiled from the Department of Commerce and the American Iron and Steel Institute (AISI).
Evraz North America said there was no impact on production from a fire that broke out at its Pueblo., Colo., steel mill on Friday.
April scrap prices came in sideways in the US, sources told SMU.
Steel Dynamics Inc. (SDI) has announced new roles for current executives James Anderson and Chad Bickford. SDI said James Anderson will take over responsibility and oversight for the company's long products group, effective May 1.
There is growing hope that the US scrap market has bottomed, according to industry sources. The steep price declines in March may have ushered in a floor because dealers say their stocks are a bit depleted. Their concern: that the flow of obsoletes could be cut severely with any further drop in prices. Is this wishful thinking, or do the fundamentals support the prediction of a market bottom? Let’s take a look!
After stabilizing in our last check of the market, production times for flat-rolled steel have begun to push out further, according to steel buyers responding to SMU's market survey this week.
Steel buyers report that mills are less willing to talk price on new sheet orders than they were in weeks past, according to our most recent survey data. In contrast, mills’ willingness to negotiate on plate products remains relatively high, now at the second-highest rate of the year.
Cleveland-Cliffs aims to increase sheet prices by $60 per short ton (st) and is seeking a new target base for hot-rolled coil (HRC) of $900/st. That's according to a press release circulated on Wednesday morning, March 27.
SMU caught up with Barry Zekelman, executive chairman and CEO of Zekelman Industries, on Wednesday’s Community Chat. As one of the largest independent steel pipe and tube manufacturers in North America, his company is also one of the largest steel buyers in the region. This year alone, the Chicago-based company will buy roughly 2.8 million tons of steel. As such, Zekelman provides a great perspective on the steel industry and the markets it serves.
Steel Market Update’s Steel Demand Index recovered out of contraction territory on the heels of the pricing blitz from mills last week, according to our latest survey data.
Strength in its flat-rolled steel operations is pushing Steel Dynamics Inc. (SDI) to guide to higher sequential earnings in the current quarter.
Steel buyers found mills more willing to negotiate spot pricing on the products SMU tracks with the exception of hot rolled, according to our most recent survey data.
Steel mill lead times were flat to slightly up, according to our market survey this week.
The apparent supply of steel in the US increased in January, rising to a five-month high, according to data compiled from the US Department of Commerce and the American Iron and Steel Institute (AISI).