There were a number of comments connected to the article we did on Thursday regarding Timna Tanners “Steelmageddon” opinion. Most of the comments in last week’s survey were against the Steelmageddon thought process which calls for the collapse of steel prices in a couple of years when the new capacity comes online. As you can […]
I am traveling this week. I have been in Monterrey, Mexico, where I visited the Roberto Rocca Industrial School in Pesqueria in the state of Nuevo Leon (just outside of Monterrey). I also visited the Ternium Industrial Center, which is already a major rolling facility and where Ternium is expanding capacities dramatically so the mill […]
On my way back to the USA following a good meeting with the folks at Ternium in Mexico. More to follow later. We think the information Steel Market Update provides is important and we want to make it readily available to more individuals within each subscribing company. We want to encourage employees in sales, purchasing, […]
Latin American steel mill Ternium reported the highest annual EBITDA in its history last year at $2.7 billion, a 40 percent increase from 2017. Net income was $1.5 billion, driven by an 18 percent increase in sales and higher steel product shipments. Ternium’s Mexico segment shipped 6.5 million metric tons of steel in 2018, representing […]
I will be traveling all week as I head to Monterrey, Mexico, to tour the Ternium training facilities and steel mill. I will also be meeting with Cesar Jimenez, the CEO for Ternium Mexico, to discuss the new capacity they have coming onstream over the next 12-24 months. We are also working with Ternium to […]
There are reports about a myriad of meetings between the USTR, Mexico and Canada as the sides try to come to some form of resolution regarding the Section 232 tariffs on steel and aluminum. I continue to hear that the move is to not reduce the traditional level of imports from these two countries. In […]
Some notes that I made to myself during the Fabricators and Manufacturers Association meeting in Nashville this week. There is no panic amongst the attendees. Uncertainty reigns supreme, and uncertainty is difficult to live with. No one with whom I spoke was predicting prices to go crazy. Most felt there would be a modest uptick, […]
I am chomping on the bit as today we managed to book a nationally known and widely recognized speaker who will (I hope) hold everyone in their seats until the end of our SMU Steel Summit Conference. When booking your travel to Atlanta for our conference, you will want to arrive as early Monday morning […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor The steel sheet market in North America is starting the second half of the year off with the same primary trends seen in the past few quarters: rising prices due to strong demand and supply that continues to be affected by unplanned disruptions. […]
Ternium USA Inc. will invest $14.7 million to expand and upgrade its facility at The Port of Caddo-Bossier in Shreveport, La. Ternium will overhaul its galvanizing line and complete other capital upgrades to optimize plant operations and logistics. Upgrading the galvanizing line will yield an additional 42,000 metric tons per year of coated products. “In […]
ArcelorMittal NAFTA posted sales of $5.4 billion for the second quarter of 2018, a jump of 12.7 percent from the first quarter. Steel shipments increased by 4.4 percent to 5.8 million metric tons. Improved results were driven by strong market demand and higher shipment volumes. NAFTA segment EBITDA rose 19.6 percent year-over-year. NAFTA segment crude […]
Steel producer Ternium reported shipments of 3.5 million tons in first-quarter 2018, a 3.0 percent increase from the fourth quarter and a 42 percent jump from Q1 2017. Higher steel prices pushed revenue up $45 per ton. Higher shipments were a result of a 160,000-ton increase in Mexico that was offset by a 48,000-ton decrease […]
Steel Market Update’s 8th Steel Summit Conference will be held at the Georgia International Convention Center on Monday, Aug. 27, through Wednesday, Aug. 29, 2018. We’ve been watching the markets very carefully as we put together our final agenda and have worked hard to select the best speakers possible. On Friday, we added AK Steel […]
Steel Market Update’s 8th Steel Summit Conference will be held at the Georgia International Convention Center on Monday, Aug. 27, through Wednesday, Aug. 29, 2018. We’ve been watching the markets very carefully as we put together our final agenda and have worked hard to select the best speakers possible. On Friday, we added AK Steel […]
NLMK USA told Steel Market Update this afternoon that if the 25 percent tariff on steel, and specifically on steel slabs, goes into effect, the future of their company and the people who work for it is in jeopardy long term. Steel Market Update spoke with Bob Miller, President of NLMK USA and Executive Vice […]
NLMK USA told Steel Market Update this afternoon that if the 25 percent tariff on steel, and specifically on steel slabs, goes into effect, the future of their company and the people who work for it is in jeopardy long term. Steel Market Update spoke with Bob Miller, President of NLMK USA and Executive Vice […]
The SMU Steel Summit Conference is THE fastest growing steel conference in North America and THE one conference manufacturing, distribution, suppliers to the industry and steel mills want to attend. Details about the agenda, speakers, location and costs, as well as how to register, can be found on our website: www.SteelMarketUpdate.com/Events/Steel-Summit or you can contact […]
Ternium has extended its agreement to supply steel slabs to AM/NS Calvert for an additional 12 months, until December 2020. During Ternium’s fourth-quarter earnings call, CEO Daniel Novegil said Ternium Brazil will deliver the remaining 3.5 million metric tons of slab in annual increments of 1.2 million tons per year instead of 2.0 million tons […]
The Italian-Argentine industrial consortium Techint Group and its Ternium subsidiary are planning to construct a $1 billion hot rolled steel mill in Monterrey, Mexico. The mill will be part of an expansion of Techint’s industrial center in Nuevo León, where the consortium first started operations in 2013. The rolling mill will have an annual capacity […]
We did a quick check of lead times at a number of domestic steel mills on Friday of this past week. This is what we learned: Steel Dynamics Industries (SDI) – Butler, Ind. HR – closed for November production Pickled – closed for November production CR – closed for November production HRG – 11/20 (4 […]
Two new hot strip mills are in the works for the Mexican steel industry. Both ArcelorMittal and Ternium announced plans this week to make investments in their facilities to meet growing demand. The announcements coincide with decrees by Mexican President Enrique Peña Nieto creating three special economic zones that offer tax breaks to companies investing […]
Zinc is once again trading above $1.40 per pound ($1.42 as of 3:30 PM ET) and the smaller steel mills and converters are wondering why U.S. Steel, ArcelorMittal USA and Nucor haven’t made the move to higher zinc coating extras on galvanized steel? We have seen four mills make changes on their “spot” new orders: […]
Thyssenkrupp finalized the sale of Brazilian steel mill CSA Cia Siderúrgica do Atlántico to Ternium this week. The sale takes effect retroactively from Sept. 30, 2016. The $1.3 billion deal was hammered out in February. Completion of the transaction ends a long process for Thyssenkrupp to divest all of its Steel America assets. In 2014, […]
The following steel mills are registered to attend this year’s SMU Steel Summit Conference at the end of this month: ArcelorMittal Mexico, ArcelorMittal Dofasco, ArcelorMittal/Nippon Sumitomo Calvert, Ternium USA, Ternium Mexico, NLMK USA, Nucor, Nucor Mexico, Nucor Canada, Kandil Steel (Egypt), California Steel Industries, AK Steel, CSN USA, North Star BlueScope, Steel Dynamics Inc., The […]
I was advised late on Friday afternoon that we should expect a Nucor price increase early next week. With scrap prices firming $10 to $30 per ton our expectation is for the increase to be $25-$30 per ton. Then the question will be will the industry support another increase after tepid (at best) support for […]
Mexico is imposing antidumping duties on imports of flat coated steel from China and Taiwan, including flat carbon steel or steel alloy, corrosion resistant steel, and products with a metallic or non-metallic coating, reports the Mexico Ministry of Economic Affairs. The petition was originally filed by Ternium and Tenigal in December 2015 and concluded on […]
I have received a number of comments on the LinkedIn posts that I have put out there over the weekend. I shared our “Black Swan” article on my personal LinkedIn account as well as our Steel Market Update LinkedIn group account. I also received a question about the “average margin for a service center” that […]
Ternium announced today the purchase of 100 percent of Thyssenkrupp AG’s Brazilian steel mill CSA, Cia Siderúrgica do Atlantico SA. The sale is based on a September 30, 2016 valuation of EUR 1.5 billion (US$1.86 billion) that is subject to agreed adjustments at closing. Ternium expects to disburse EUR 1.26 billion ($1.33 billion) for the […]
On Friday of this past week AK Steel announced a $40 per ton ($2.00/cwt) spot base price increase on all the flat rolled products they produce: hot rolled, cold rolled and galvanized steels. On Monday morning, NLMK USA followed with the same $40 per ton announcement. We learned NLMK lead times are in February on […]
With all of the domestic steel mills announcing $30 per ton price increases either late last week or early this week, the industry is waiting to see if there was a surge of orders and how those orders have impacted lead times. Everyone knows if lead times begin to extend then buyers will have no […]