Thyssenkrupp AG is in negotiations to sell its Brazilian steel plant Companhia Siderúrgica do Atlântico (CSA) to Ternium SA. According to the Wall Street Journal, talks are at an advanced stage but may hit a stumbling block over price for the Brazilian operations. Thyssenkrupp spent $6.8 billion to build CSA but it is currently valued […]
Mexico announced it will enforce tariffs on imports of cold-rolled coil (CRC) from China with boron greater than or equal to 0.0008 percent. Antidumping duties will range between 65.99 percent and 103.41 percent. The Secretariat of Economy added the cold rolled steel with added boron to the existing antidumping duties on CRC after Altos Hornos […]
If things weren’t tight enough there have been a couple of accidents at steel mills, one in the United States (North Star BlueScope) and one in Brazil (CSN), which are impacting the domestic flat rolled steel order books. CSN (Brazil) Affecting Galvanized Markets About two weeks ago, CSN in Brazil had a breakout with their […]
If things weren’t tight enough there have been a couple of accidents at steel mills, one in the United States (North Star BlueScope) and one in Brazil (CSN), which are impacting the domestic flat rolled steel order books. CSN (Brazil) Affecting Galvanized Markets About two weeks ago, CSN in Brazil had a breakout with their […]
AISI, Salt Lake City, Utah – The Board of Directors of the American Iron and Steel Institute (AISI) has elected John Ferriola, chairman, president and CEO of Nucor Corporation, to serve as chairman of the Institute until May 2017. “John is a dedicated and outspoken advocate for our industry, and has engaged his employees and […]
Steel buyers were pulling out their hair earlier today due to the number of mills holding tons off the market as they try to determine what the new pricing should be on hot rolled, cold rolled, galvanized and Galvalume products. As of early this afternoon (Thursday) steel buyers were informing Steel Market Update of a […]
Recently, Steel Market Update produced an article regarding a discussion between Dan DiMicco, former CEO of Nucor and another one of our LinkedIn members who, in a past life, was responsible for buying foreign slabs for a domestic steel mill. Here is a small clip of that conversation: LinkedIn member: Of course I don’t imagine […]
Recently, Steel Market Update produced an article regarding a discussion between Dan DiMicco, former CEO of Nucor and another one of our LinkedIn members who, in a past life, was responsible for buying foreign slabs for a domestic steel mill. Here is a small clip of that conversation: LinkedIn member: Of course I don’t imagine […]
Mill lead times, especially on cold rolled and coated products, continue to be a concern as buyers navigate/negotiate pricing and deliveries on future orders. The longer the lead time the more steel that is needed in the pipeline at both manufacturing companies and distributors. The longer lead times provide ammunition to the domestic steel mills […]
Over the past few weeks Steel Market Update has been reviewing the lead times being published and/or provided to their customers in order to see if there are any significant changes. As a general statement we have found cold rolled and coated steels (galvanized, Galvalume, galvannealed) have extended lead times and are the tightest of […]
We are seeing a divergence in the normal spread between hot rolled lead times and those of cold rolled and coated products. Normally, we would see HRC lead times at just a couple of weeks less than that of the other “higher value” products. With the demise of the energy segment of the industry that […]
Spot lead times have begun to move out according to the lead time sheets shared with customers this week by their domestic mill suppliers. The most strength was seen in cold rolled and coated steels while hot rolled lead times remained stuck at 3-4 weeks in most cases. Steel buyers continue to prognosticate that there […]
Mexico will launch an antidumping probe on imports of Chinese cold-rolled flat coated steel. The investigation was prompted by a complaint by steelmakers Ternium Mexico and Tenigal which claimed the surge of imports between 2012 and April 2015 harmed domestic production. In October, Mexico instituted a 15 percent tariff on steel products from counties with […]
The Mexican government said it will impose import duties on cold-rolled steel from China following an antidumping investigation initiated by Altos Hornos de Mexico (AHMSA), Ternium and other Mexican steel companies. The Friday, June 19 decision will put tariffs of 65.99 percent imports on imports from Baoshan Iron & Steel Co Ltd and 82.08 percent […]
In a preliminary determination, the U.S. Department of Commerce found that Mexican steel pipe producer Productos Laminados de Monterrey sold pipe below normal value during the period of review, August 1, 2012 through July 31, 2013. Originally eight Mexican companies were reviewed by the DOC for possible dumping of circular welded non-alloy steel pipe into […]
The Mexico Economy Secretariat announced an extension of the investigation of cold rolled coil from China. “There are enough elements to preliminary support that in the investigated period the imports of the subjected product were done under price discrimination and generated a harm threat to the national production,” said the secretariat on Monday. The products […]
Ternium reported earnings for the 3rd quarter 2014 this week. Ternium is a large steel producer in Mexico, which accounts for 60 percent of the company’s shipments, as well as Argentina which accounts for 24 percent. Ternium also owns a conversion mill in the United States which produces galvanized and Galvalume products along with prepainted […]
Hot-rolled coil steel from Germany, China and France may soon be subjected to antidumping duties from Mexico. Mexico’s Ministry of economy has launched an investigation following a complaint by Ternium Mexico and Altos Hornos de Mexico (AHMSA) that imports of HRC from the three countries between 2011 and 2013 lowered prices and harmed Mexican producers. […]
On Monday, Nucor announced their intention to acquire Gallatin Steel and its approximately 1.8 million tons of hot rolling capacity. Today, AK Steel and Steel Dynamics (SDI) completed the purchase of the Severstal North America assets. The biggest pieces of the Severstal deal are the Dearborn steel mill, which went to AK Steel, and the Columbus […]
On Monday, Nucor announced their intention to acquire Gallatin Steel and its approximately 1.8 million tons of hot rolling capacity. On Tuesday, AK Steel and Steel Dynamics (SDI) completed the purchase of the Severstal North America assets. The biggest pieces of the Severstal deal are the Dearborn steel mill, which went to AK Steel, and the […]
Iron ore smuggling has become a concern of the Mexican government with the diversification of the Knights Templar drug cartel into mining operations in the western state of Michoacán. Mexican authorities have seized nearly 200,000 tons of illegally mined and shipped iron ore headed for China so far this year. Last week a ship was […]
Latin American steelmaker, Ternium, turned in a positive quarter with net sales up 2 percent to $2.149 from fourth quarter and 1 percent from Q1 2013. Net income was $188.2 million compared to $174.7 in the fourth quarter, and $164 million in Q1 2013. Ternium net steel sales increased 1% to $2,149.4 million. Operating income […]
Latin America steel producer Ternium reports net sales of $2.1 billion on 2.23 million tons of steel shipments and 994,000 tons of iron ore shipments in the fourth quarter 2013. Steel shipments were down 3 percent from third quarter but up 3.0 percent from fourth quarter 2012. Net income was $171.1 million, up from $136 […]
Majestic Steel USA, a flat-rolled steel service center located in Cleveland, Ohio, plans to expand its staff by 80 positions in 2014. The family-owned and operated company has entered into a period of what they are calling “hyper growth.” “We’re invested in the industry and looking to hire additional resources to help us take steel […]
Of the three main ways of procuring prepainted flat rolled steel described in my last article, buying from a service center is the simplest. Service Centers will quote a price that can be compared apples to apples against one other. In addition a good Service Center can consult on the correct specifications and will also […]
Latin American steel mill Ternium reported net sales of 2.14 billion on shipments of 2.3 million tons of steel and 930 thousand tons of iron ore. Steel shipments were up 4 percent from second quarter and 2 percent from third quarter 2012. Iron ore shipments were down 24 percent from second quarter but up 106 […]
It seems to be a foregone conclusion that there will be a flat rolled price increase announcement within the next few working days. Spot prices have remained firm with benchmark hot rolled averaging $665 per ton ($650-$680 range) based on our SMU index. Scrap is forecast to be up by $20 to $40 per gross […]
There has been great speculation and anticipation regarding the sale of the ThyssenKrupp Steel Americas steel mills since the parent company announced it was offering the plants for sale over one year ago. The Americas operations consist of the Calvert, Alabama facility as well as the CSA fully integrated slab mill with its two blast […]
Nippon Steel & Sumitomo Metal Corp. and Ternium SA announced the start-up of its joint venture steel operation, Tenigal, near Monterrey City, Mexico on Sept. 18. Tenigal is part of Ternium’s Pesqueria Project, a $1.1 billion steel complex that includes a cold-rolling plant with a 1.5 million ton annual capacity. Tenigal will produce automotive […]
Steel Market Update (SMU) has received many emails from our readers as well as interested parties regarding our SMU Price Momentum Indicator which we have had at Neutral since Friday, August 23, 2013. Since that time we have seen hot rolled pricing remain in the $630-$660 per ton level (see Comparison Price Indices article below) […]