Spot prices for steel sheet shot upward again this week on the heels of steep price increases announced by domestic mills last week. SMU’s hot-rolled coil price rose to $940 per ton ($47 per cwt) on average, up $75 per ton from last week and up nearly $300 per ton from a 2023 low of […]
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.
Canadian miner Teck Resources has announced the sale of its metallurgical coal business, Elk Valley Resources, with Swiss miner Glencore becoming the majority stakeholder.
Steel Market Update spoke with Jonathan Shank, the new COO of JSW's Mingo Junction mill, on its $145-million investment project.
We’re just 12 weeks from Tampa Steel Conference 2024, one of the premier North American steel community events.
Domestic scrap prices rose in November month over month for all grades that SMU covers, market sources said.
Tata Steel has announced plans to cut 800 roles at its sheet works in Ijmuiden, the Netherlands, to remain competitive and profitable in the future. “Despite all efforts by Tata Steel to improve its market position and reduce costs, more is needed and the company needs to bring down personnel costs further,” the company stated. […]
Raw steel production in the US decreased in the week ended Nov. 11, according to data released by the American Iron and Steel Institute (AISI) on Monday, Nov. 13.
Cleveland-Cliffs announced it would seek a minimum base price of $1,000 per ton ($50 per cwt) for hot-rolled coil (HRC) on Nov. 7. Nucor said a day later that it was aiming for $950 per ton. Why didn’t Nucor follow Cliffs up to $1,000 ton? I think there might be some possible answers in our […]
SSAB Americas will supply its low-carbon SSAB Zero steel to GE Vernova Onshore Wind for wind towers in North America.
Certain welded steel pipe and tube products being exported from Vietnam to the US have, in fact, been illegally evading the payment of import duties, a US government agency announced this week.
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.”
JSW Steel USA is expanding the rail infrastructure at its Mingo Junction mill, thanks in part to a grant from the state of Ohio.
There seems to be a consensus that US sheet prices have nowhere to go but up in the short term, in part because offshore material ordered now won’t arrive until late March or even April.
US steel imports continue to arrive at a steady pace, as total import licenses in October were about even with September’s import levels.
Worthington Industries said on Thursday its board of directors has approved the previously announced separation of its Steel Processing business, Worthington Steel Inc.
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.
ArcelorMittal’s earnings declined in the third quarter of 2023 both sequentially and on-year.
Center for Automotive Research (CAR) president and CEO Alan Amici will be the featured speaker on Steel Market Update’s next Community Chat webinar on Wednesday, Nov. 15, at 12 p.m. ET. You can register here.
The leader of the International Longshoremen’s Association (ILA) warned that members on the East and Gulf Coasts could go on strike in October of next year when the union’s contract expires.
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.
Several past columns in SMU have included comments about the futures forward curve, using terms like contango and backwardation
U.S. Steel’s Mon Valley Works in western Pennsylvania has not resumed full production of cold-rolled coil (CRC) following an outage last month, a company spokeswoman confirmed.
Hot-rolled coil (HRC) tags continue to rally in the US, broadening the price disparity between domestic and imported offshore product.
Canadian flat-rolled steelmaker Stelco recorded a drop in third quarter profits on lower steel prices and sales volumes. The Hamilton, Ontario-based company predicted that volumes would be lower still in the fourth quarter. But it also said that financial results would improve next year on higher prices and longer lead times.
Alan Price discussed the deep complexity of issues in the Global Arrangement on Sustainable Steel and Aluminum negotiations between the US and EU on Wednesday’s Community Chat.
Nucor Corp. announced this morning that it is joining Cleveland-Cliffs, aiming to increase prices for hot-rolled steel (HRC) and heavy gauge hot-rolled products, effective immediately.
Spot prices for steel sheet continued to shoot upward this week, which brought yet another round of price hikes.
On Nov. 6, the US General Services Administration (GSA) announced $2 billion in funding for 150 construction projects that use cleaner construction materials, including steel.
Declining demand and a challenging economic environment impacted Gerdau’s shipments in North America during the third quarter.