The capacity for EAF steelmaking is growing both in the US and abroad. Ferrous scrap supply has never been more important. A lot of people have viewed the scrap industry as old-fashioned and resistant to change. However, the same forces affecting the steel and other industries are also at play in recycling.
Domestic production of raw steel edged lower for a second straight week, according to the most recent data from the American Iron and Steel Institute (AISI).
We’re just a week away from the 35th annual Tampa Steel Conference! It’s one of the premier domestic steel conferences and the first can’t-miss event of 2024. If you haven’t already registered, there is still time but make sure to book now!
America is increasing a society run by regulations. Businesses and individuals deal with a host of agencies that control transportation, the environment, labor regulation, securities, competition and, of course, international trade; the list goes on and on. We are also a litigious society, dependent on neutral tribunals to resolve disputes. Who decides who is right […]
While oil and gas drilling in the US and Canada rose in the week ended Jan. 19, less drilling is happening than at this time last year, Baker Hughes’ latest data shows.
The LME three-month price was broadly stable on the morning of Jan. 19 and was last seen trading at $2,170 per metric ton (mt). The $2,200/mt level is now acting as a resistance it seems, but the break of the previous support level has not inspired a sell-off, at least not for now.
When I started in the scrap business many years ago as a rookie trader in Luria’s Cleveland office, I saw an industry composed of family-owned businesses stretching across a great industrial nation.
SMU’s Current Steel Buyers Sentiment Index jumped this week, while the Future Sentiment Index remained flat, according to our most recent survey data.
This time of year my thoughts often turn to the weather. Specifically yesterday, heat cranked up, as I sped to a café because of an Internet service outage. I
New York state saw manufacturing shrink in January, reaching its lowest reading since the depths of the pandemic in early 2020, according to the latest Empire State Manufacturing Survey.
US hot-rolled coil (HRC) prices edged down this week while import prices moved higher on average. Domestic hot bands’ premium over cheaper imports declined as a result. But overall, US product remains substantially more expensive than overseas material. All told, US HRC prices are 21.4% more expensive than imports, a premium that is down three […]
What are people in the steel marketplace talking about this week?
Domestic buyers of steel sheet said mills were much more willing to negotiate spot pricing this week, according to our most recent survey data.
US steel exports were flat from October to November, but November took the prize for the fewest monthly exports year to date in 2023.
Both the United Steel Workers (USW) union and a number of politicians oppose the deal. The USW supports Cleveland-Cliffs’ offer. That offer is almost half of what Nippon Steel has proposed and what has been accepted by U.S Steel. I don’t understand the USW opposition to Nippon Steel buying U.S. Steel and the union favoring Cleveland-Cliffs. If Cleveland-Cliffs were to acquire U.S. Steel, it would likely mean the end of a headquarters in Pittsburgh.
US hot-rolled (HR) coil prices fell noticeably this week for the first time since late September. SMU’s hot-rolled coil price now stands at $1,025 per ton on average, down $25 per ton from last week. Cold-rolled (CR) coil was unchanged at $1,325 per ton.
Domestic scrap prices ended up down slightly after a roller coaster of trading in January, scrap sources told SMU.
Raw steel production in the US decreased marginally in the second week of 2024, according to the most recent data from the American Iron and Steel Institute (AISI). Domestic steel output totaled an estimated 1,699,000 net tons in the week ended Jan. 13. That’s down 0.5% from the previous week, and comparable to the same […]
US service center flat-rolled steel inventories surged in December with the seasonal slowdown in shipments. At the end of December, service centers carried 64.8 shipping days of supply, according to adjusted SMU data, up from 54 days in November.
November’s shipments for domestic heating and cooling equipment shipments declined for a third consecutive month, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).
After three months of provocations, the US and Britain retaliated against Houthi rebels in Yemen, bombing several sites in North Yemen that assisted in Houthi attacks on international shipping in the Gulf of Aden and the Red Sea. The Houthi rebels are widely seen as Iranian proxies, launching attacks to provoke the West into attacking Yemen, leading to more attacks on shipping.
Active rigs in the US dipped slightly this week, while Canada's count increased for the second consecutive week, according to Baker Hughes.
The Global Steel Climate Council (GSCC) was formed to advance the steel industry's climate strategy. And its intentions are clear: establish standards and advocate for carbon emission reductions by industry members.
The United Steelworkers (USW) union is accusing U.S. Steel of labor contract violations as the steelmaker pursues its potential sale to Nippon Steel.
With a new leadership team and a more streamlined workforce, digital metals marketplace Reibus is entering a new phase of its evolution as an innovator in the metals industry.
Pig iron prices rose month over month (MoM) in all major regions aside from Europe on improved buying. Demand in the US remains robust while market participants report that availability of Brazilian material increased after tightening a month prior. Meanwhile, Ukrainian export capacity increased due to greater access to temporary sea corridors.
US hot-rolled coil (HRC) prices were unchanged this week but remain significantly more expensive than offshore product. While imported hot band tags increased vs. last week, gains were marginal, keeping domestic HRC substantially more expensive than imports. All told, US HRC prices are 24.3% more expensive than imports, a premium that is down only slightly […]
TimkenSteel said on Wednesday it is changing its company name to “Metallus Inc.”
I expected that we’d start off January with prime scrap prices modestly up if for no other reason than industrial activity typically slows down over the holidays. And mills’ appetite for scrap typically increases in anticipation of stronger Q1 order activity.
Hot-rolled (HR) coil prices remain in the holding pattern they've been in since mid-December, according to SMU pricing archives.