Steel used to be cited as a big sticking point in the energy transition, but this is no longer the case. Fossil-fuel-free steel is real and is being produced. However, immediate and enabling policy support is needed to scale up and roll out new technologies at scale. The production of steel represents some 7% to […]
Cleveland-Cliffs is now targeting base prices of $1,100 per ton ($55 per cwt) for hot-rolled coil (HRC).
It’s no surprise why spot prices are on the rise: Mills have been announcing higher flat-rolled tags for the better part of the past three months, according to our steel mill price increase calendar. A leading cause of the $305-per-ton rally since prices reached a recent bottom of $645 per ton in late September has […]
Oct. 26 was my previous Steel Market Update contribution. The night before, Ford and the United Auto Workers (UAW) announced they had reached a tentative agreement for a new labor contract.
Bids for U.S. Steel are due on Friday, according to sources familiar with the matter. Friday is also allegedly when a non-disclosure agreement (NDA) between Cleveland-Cliffs Inc. and the Pittsburgh-based steelmaker expires.
Galvanized steel buyers reported a seller's market with steady demand, long lead times, and strong pricing on this month’s call of the Sheet Metal/Air Handling Council of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association.
The importation of basic pig iron has allowed EAF steelmakers to implement thin-slab casting technology to make drawing-quality flat-rolled sheet over the last 30 years.
Steel Market Update’s Steel Demand Index has moved into growth territory after seeing steady improvement since mid-September, according to our latest survey data.
A group of California members of Congress is calling on U.S. Steel to keep its USS-UPI steel mill in Pittsburg, Calif., open by finding a buyer for the operations.
The historically significant Sparrows Points steel mill site in Baltimore is set to live another life as a wind turbine factory under the name “Sparrows Point Steel.”
The percentage of steel buyers saying mills were willing to negotiate spot pricing fell for hot rolled this week, while plate's negotiation rate shot up, according to SMU's most recent survey data.
Lead times for most sheet products were pushed out even further this week as domestic prices continue to rise. Plate lead times, meanwhile, contracted on falling prices and waning demand.
Mill lead times for flat-rolled products pushed out this week once again across the board.
Nucor reported a drop in third quarter profits on lower steel prices, with the biggest hit to earnings occurring at its sheet mills. And the Charlotte, N.C.-based electric-arc furnace (EAF) steelmaker doesn't see things improving in the fourth quarter.
This week could be a big one for steel, or at least for the steel rumor mill. For starters, there is renewed speculation that an announcement about the U.S. Steel sales process could be in the works. The rumor mill is also churning fast when it comes to the duration of the UAW strike and […]
As the ferrous scrap market in the US enters the home stretch for 2023, it faces an array of issues and uncertainties.
Subcontractors for U.S. Steel in Indiana stole ~20 million pounds of scrap valued at ~$2 million over a two-year period.
Steel Market Update’s Steel Demand Index remains in contraction territory despite repeated improvements since mid-September, according to our latest survey data.
The mill negotiation rate for all products SMU looks at fell this week, with hot rolled dropping 13 percentage points, according to our most recent survey data.
This week’s survey showed steel mill lead times extending across all product lines tracked by SMU.
H2 Green Steel is in talks with Canada to potentially build a new green steel project in Quebec.
David Stickler is eager to demonstrate how advancements in technology can contribute to making the rebar market more sustainable.
Arkansas has become a hub for steel production in the southern US, and it will soon be home to another steel mill. Hybar, a newly formed company led by steel industry veteran David Stickler, announced it will build a $500 million greenfield minimill to produce rebar in northeast Arkansas just outside of Osceola. The new […]