Ryerson Holding Corp. announced Dec. 4 that it acquired Hudson Tool Steel Corporation. The Cerritos, Calif.-based Hudson is a supplier of tool steels and high-speed, carbon, and alloy steels. The company has additional locations in Loves Park, Ill., and Dover, N.H. Terms of the deal were not disclosed. “Hudson’s offering of high-quality standard and specialty-grade […]
Steel prices continued to rally last month on the back of repeated mill price increases after tags reached a 2023 low of $645 per ton in late September. Hot-rolled coil (HRC) prices ended November at an average of $923 per ton ($46.15 per cwt), rising by $140 per ton during the month. The SMU Price […]
The 2024 Tampa Steel Conference is less than two months away. It is one of the premier domestic steel conferences and a great compliment to our record-breaking SMU Steel Summit this past August.
TimkenSteel has begun utilizing AI software from Worlds to gain insight into its steel manufacturing processes.
AM/NS Calvert will continue providing hot rolling tolling services for Outokumpu for the time being.
Raw steel production in the US rose in the week ended Dec. 2, according to the American Iron and Steel Institute’s (AISI’s) report on Monday, Dec. 4.
A coalition of manufacturers, retailers, and stakeholders stands opposed to the imposition of import duties on tin mill products.
The Global Steel Climate Council (GSCC) announced on Dec. 4 the appointment of an executive director.
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 […]
Bank of America SVP Ira Kreft will be the featured speaker on SMU’s Community Chat webinar on Wednesday, Dec. 13, at 11 am ET. We’ll discuss M&A in the steel and metals industries. Is there still room for consolidation in flat-rolled steel?
CRU analysts share an update on the aluminm markets.
Worthington Industries has completed its split into two separate companies: Worthington Steel Inc. and Worthington Enterprises Inc.
Steel dominated the industries seeking repeated relief from unfair trade between 1995 and 2020, according to a new report compiled for the International Trade Commission (ITC).
The Canadian government has given ArcelorMittal-linked Baffinland Iron Mines permission to dispatch up to 6 million metric tons per year from its Mary River mine in Nunavut territory, higher than the 4.2 million metric tons per year previously permitted. The approval from northern affairs minister Dan Vandal allows Baffinland to make the extra shipments if […]
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.
Algoma Steel’s CEO Michael Garcia joined SMU Managing Editor Michael Cowden for a Community Chat on Wednesday, Nov. 29. A great discussion was had on topics ranging from plate pricing to decarbonization efforts, raw materials strategies, and more.
US Hot-rolled coil (HRC) prices continue to move higher following repeated mill increases. The trend has caused domestic tags to become far more expensive than imported offshore hot band.
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.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, and what people were talking about in the market.
Six US manufacturers of oil country tubular goods (OCTG) have come together to establish a Washington, D.C.-based trade association to promote the domestic industry.
Sector fundamentals for US steel companies remain solid overall, according to ratings agency Fitch’s 2024 outlook report.
Nucor Corp. announced in a letter to customers on Tuesday afternoon that its plate mill group would increase as-rolled discrete plate, normalized, and quenched-and-tempered plate by $40 per ton ($2 per cwt).
I want to address a few things in this 'Final thoughts': the latest SMU survey results, the plate market, and the potential sale of U.S. Steel.
SSAB Americas has announced plans to increase plate prices by at least $60 per ton ($3 per cwt), with the opening of its January 2024 order book. The price hike applies equally to as-rolled, normalized, quenched-and-tempered, and wide cut-to-length plate products. It is effective immediately on all new, non-contract orders, the company said in a […]
SMU’s Current and Future Steel Buyers Sentiment Indices have both increased, based on our most recent survey data as of Wednesday, Nov. 22.
The increase in steel imports from September to October was higher than license applications had suggested earlier this month.
U.S. Steel said it has indefinitely idled steelmaking at its Granite City Works in southern Illinois near St. Louis.
Overall raw steel production in the US was down for the week ended Nov. 25, according to the American Iron and Steel Institute's report (AISI) on Monday, Nov. 27.
The latest SMU market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Historical survey results are also available under that selection. If you need help accessing the survey results, […]
The percentage of steel buyers saying mills were willing to negotiate spot pricing has fallen for all products SMU surveys, according to our most recent survey data.