Tag: steel

Galvanized prices have tumbled from a month ago, and many market participants expect that trend to continue in July.

ArcelorMittal Mexico is suffering a significant production loss as the labor strike at its mill in Lazaro Cardenas is now in its fourth week.

Steel Dynamics Inc.’s (SDI’s) top executive Mark D. Millett has received the 2024 Willy Korf/Ken Iverson Steel Vision Award.

Domestic raw steel production fell to a seven-week low last week, according to the latest release by the American Iron and Steel Institute (AISI).

Flat Rolled = 60.6 Shipping days of supply Plate = 61.1 Shipping days of supply Flat Rolled US service center flat-rolled steel supply rose in May with a drop-off in shipments. At the end of May, service centers carried 60.6 shipping days of supply on an adjusted basis, up from 57.8 shipping days of supply […]

Steel Dynamics Inc. guided to significantly reduced second-quarter earnings as its steel operations have taken a hit from lower prices.

U.S. Steel has guided to lower second-quarter earnings both sequentially and on-year in "dynamic" spot price market.

Nucor priced its weekly hot-rolled (HR) coil consumer spot price (CSP) at $715 per short ton (st) this week, down $5/st from last week.

The conventional wisdom is that sheet prices will trend down for the next few weeks (maybe the next two months) before rising again in August – around when lead times stretch into the busier fall months. We see that reflected in our survey results and in market chatter. And there are plenty of data points to choose from if you want to support of that position.

Former President Trump’s visit to Capitol Hill last week made a lot of news. One proposal directly involves international trade and tariffs. While the specifics are hazy, President Trump allegedly talked about replacing the federal income tax on individuals with tariff increases. Let’s check that out.

Offshore cold-rolled (CR) coil prices have changed little, but they are still notably cheaper than domestic product. That remains the case even as US CR coil prices ticked lower this week.

US drill rig activity eased further last week, now down to a two-and-a-half-year low according to the latest update from Baker Hughes. In contrast, Canadian counts inched higher and are now at a three-month high.

We’re less than a week off from the official start of summer, and anticipation leading up to SMU’s Steel Summit 2024 is already heating up.

A roundup of recent aluminum news from CRU.

Canada’s Algoma is set to host the grand opening of its modernized plate mill in Sault Ste. Marie, Ontario, on June 18.

Nucor Corp. has guided to much lower second-quarter earnings, as profitability in its steel mills segment suffers due to lower prices and volumes.

The spread between hot-rolled coil (HRC) and prime scrap prices has narrowed for the second consecutive month, according to SMU’s most recent pricing data.

We’ve been writing a lot about sheet prices, and those for hot-rolled (HR) in particular, coming down. Here's one thing that hasn't dropped: The wide spread between HR and cold-rolled (CR) prices. That's what's in a chart below. And I'm using it as a rough proxy for galv and G'lume base prices as well

The amount of finished steel available to the US market rose 1% from March to April, according to SMU calculations on Department of Commerce and the American Iron and Steel Institute (AISI) data.

SMU’s monthly at-a-glance articles summarize important steel market metrics for the prior month. This May report contains data updated through June 7. Steel prices for sheet and plate products continued to edge lower throughout May. The SMU Price Momentum Indicator was adjusted from neutral to lower at the beginning of the month. We saw a […]

Crude oil prices are forecast to ease slightly through the remainder of the year, while natural gas prices are expected to move higher following recent lows

Domestic scrap prices have fallen in June for all grades tracked by SMU, with prime scrap sinking $30 per gross ton (gt) from May, according to scrap sources.

US hot-rolled (HR) coil prices fell further this past week, bringing them even with offshore hot band prices on a landed basis.

Friedman Industries reported lower earnings in its fiscal fourth quarter, and the company expects first-quarter margins to be lower than Q4 margins due to declining HRC prices.

Canacero has weighed in on the workers' protest at ArcelorMittal Mexico’s Lazaro Cardenas mill, urging a quick resolution to the dispute.

Steel Market Update’s Steel Demand Index moved up 2.5 points last week, though it remains in contraction territory and at one of the lowest readings in nearly a year, according to our latest survey data.

Olympic Steel is celebrating Executive Chairman Michael D. Siegal's 50th work anniversary and the company’s 70th year in business.

Canadian flat rolled producer Algoma Steel has appointed Erin Oliver to the newly created role of vice president – health and safety.

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 events.

Sometimes, words can lead you in interesting directions. Specifically, crosswords. For the last six weeks we have been making steel-themed crosswords in the lead-up to SMU's Steel 101 course in Fort Wayne, Ind., which is taking place today and tomorrow. I’ve learned snippets of steel history and educated myself on the finer points of sponge iron.