Steelmaking raw material prices remain mostly higher vs. October
Prices of steelmaking raw materials are largely up over the over the last 30 days, as they were the month prior, according to Steel Market Update’s latest analysis.
Tag: steelmaking
Register now for Nov. 29 Community Chat with Algoma CEO Michael Garcia!
Algoma is an important Canadian flat-rolled steel producer. It is also a significant supplier to the US market. We’ll discuss current dynamics in the North American sheet and plate markets – as well as some of the particulars of the Canadian market.
SMU Community Chat: Algoma CEO Michael Garcia on Nov. 29 at 11 am ET
Algoma Steel CEO Michael Garcia will be the featured speaker on SMU’s Community Chat webinar on Wednesday, Nov. 29, at 11 am ET. You can register here.
Glencore Set To Buy Majority Stake in Teck's Met Coal Business
Canadian miner Teck Resources has announced the sale of its metallurgical coal business, Elk Valley Resources, with Swiss miner Glencore becoming the majority stakeholder.
JSW’s Mingo Junction COO Talks Mill, Market Expansion
Steel Market Update spoke with Jonathan Shank, the new COO of JSW's Mingo Junction mill, on its $145-million investment project.
JSW Receives Grant to Upgrade Mingo Junction’s Rail Infrastructure
JSW Steel USA is expanding the rail infrastructure at its Mingo Junction mill, thanks in part to a grant from the state of Ohio.
SMU Community Chat: US-EU Are ‘Nowhere Close’ to a Global Arrangement on Steel
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.
Algoma's Earnings Hit by Lower Steel Prices, But Recovery Expected
Algoma Steel said its quarterly earnings were impacted by falling steel prices and lower buying associated with the United Auto Workers (UAW) strikes in the US. But with the strikes wrapping up, it expects a recovery in both pricing and demand moving forward.
AISI: The Environment Is a Trade Issue - Why Carbon Tariffs Are Needed
The American steel industry is the backbone of the US economy and produces the cleanest steel in the world.
Ternium Bullish on Mexico and Increased Stake in Usiminas
Latin American flat-rolled steelmaker Ternium is seeing strong demand in Mexico, its main market. With its new mill in Pesquería, Mexico, up and running, more lines there set to come online, and the company now holding an increased stake in Brazilian mining and steel company Usiminas, Luxembourg-based Ternium is optimistic about the future direction of the company.
Auto Alliance Opposes a Potential USS-Cliffs Merger
The Alliance for Automotive Innovation (AAI), the association representing auto manufacturers making most vehicles sold in the US, has voiced its opposition to the potential acquisition of U.S. Steel by Cleveland-Cliffs.
SMU Market Survey Results Now Available
The latest SMU Market Survey results are now available on our website to all Premium members.
Final Thoughts
I wrote on Sunday that it could be a busy week for steel. It has been.
ArcelorMittal Warns St. Lawrence Strike Could Hit Dofasco Raw Material Supplies
Canadian steelmaker ArcelorMittal Dofasco could be impacted by a strike on the St. Lawrence Seaway, a company spokeswoman said.
Unifor Strike Shuts Down St. Lawrence Seaway
The St. Lawrence Seaway is shut down after members of Canada’s Unifor union went on strike against the St. Lawrence Seaway Management Corp. (SLSMC) this past weekend.
Nucor Mulls New Rebar Micro Mill for Pacific Northwest
Nucor Corp. announced it is considering installing a new rebar micro mill in the Pacific Northwest.
SMU Explains: A Brief History of the US Pig Iron Market
The pig iron trade is an important element to the US steel and foundry industry.
U.S. Steel Opens New NGO Electrical Steel Line at BRS
U.S. Steel Corp. celebrated the opening of its $450-million non-grain oriented (NGO) electrical steel line at its Big River Steel Works in Osceola, Ark.
SDI Slates Four-Day Outage at Indiana Sheet Mill
Steel Dynamics Inc. (SDI) plans to take a four-day outage at its sheet mill in Butler, Ind., according to sources familiar with the matter.
Final Thoughts
The US steel market appears to have gone from despairing over the possibility of spot HRC prices slipping into the $500s per ton to worrying about spot availability – and in just a matter of 2-3 weeks.
Algoma Extends Iron Ore Purchase Agreement with U.S. Steel
Algoma Steel Group has extended its iron ore purchase agreement with U.S. Steel for another two years.
USS Slates Layoffs at Granite City Works
U.S. Steel is laying off ~300 workers at its Granite City Works in Illinois, a company spokeswoman told SMU on Tuesday.
Leibowitz: The Debate about the Goodness of Trade
Last week, former Treasury Secretary Larry Summers gave a major speech challenging the views of anti-trade leaders, such as (but not limited to) Bob Lighthizer.
Algoma’s CEO Highlights the Switch to Greener Steelmaking
As the world works to decarbonize and limit greenhouse-gas emissions to reach the goals outlined in the Paris Agreement, many steel companies have joined others in setting their own targets to reach net zero emissions by 2050.
U.S. Steel’s Fruehauf Touts Steel as Key to Clean Energy Transition
Richard Fruehauf, U.S. Steel's chief of strategy and sustainability officer, spoke at Reuter's Industry Transition 2023 conference on Tuesday, Sept. 12.
H2 Green Steel Raises ~$1.6B to Fund Plant in Sweden
H2 Green Steel said it has raised ~€1.5 billion (USD$1.6 billion) in equity to finance the company’s large-scale green steel plant in Boden, Sweden, and Europe’s first “giga-scale electrolyzer.”
Boston Metal Raises $262M in Latest Fundraising Round
Boston Metal has closed on another round of financing, allowing it to move forward with bringing its breakthrough steelmaking technology to market.