Varsteel acquires Pacifica Steel division, broadens geographic reach
Varsteel Ltd said acquiring Pacifica Steel’s structural steel division supports its geographic expansion strategy.
Tag: US
Plate sources say uncertain market conditions persist
Factors like fluctuating demand, import availability, domestic product lead times, fuel surcharges, and end-user consumption left plate sources feeling unsettled.
Sheet sources are optimistic amid mixed conditions
Participants in the hot- and cold-rolled coils market are optimistic about the market's health.
Thyssenkrupp Materials Services acquires Mexico-based service center
Thyssenkrupp Materials Services announced its majority stake acquisition of Aceroteca Trading, S.A.P.I. de C.V. in Santa Catarina, Nuevo León, Mexico.
HARDI: Galv market finds mixed conditions, prices steadily rising
Participants in the galvanized steel market remain encouraged by strengthening product prices, even as increases unfold at a subdued pace.
Heating and cooling equipment shipments rebound in February
Heating and cooling equipment shipments recovered in February, surging 17% from January, according to the latest data released by AHRI.
Expect continued incremental sheet price gains, market sources say
Sheet market participants said they expect hot-rolled coil prices to continue to rise. A Midwest service center source said some mills are not taking spot orders. And even on the contract side, certain mills are “keeping customers at the ‘middle’ of their contract buys to help get lead-times back into shape,” he said. That’s a […]
Great Lakes’ iron ore shipments plummet in March
Iron ore shipments on the Great Lakes in March were down 23.5% from a year earlier, according to the latest report by Lake Carriers’ Association.
Ice (and an icebreaker shortage) delays Great Lakes iron ore shipments: LCA
A Lake Carriers’ Association (LCA) official said iron ore shipments would be delayed by a few weeks on the Great Lakes because of winter weather and a lack of icebreakers.
US weekly rig count increases, Canadian count dips
Baker Hughes’ latest report for the week ended April 2 showed the US added five rigs while Canada's count decreased by 11.
Market fears shortages of domestically produced plate products
Spot market participants worry that limited availability for certain grades of domestically produced plate will extend lead times even further.
Steady growth in manufacturing activity continued in March: ISM
US manufacturing activity grew for the third straight month in March, according to the latest report from the Institute for Supply Management (ISM). March marked the 17th month of overall economic expansion.
Primetals Technologies appoints Koji Sakatani as CEO and interim CFO
Beginning April 1, Koji Sakatani will lead Primetals Technologies as its CEO, simultaneously acting as its interim global CFO.
N. American auto assemblies rose in February
North American auto assemblies gained ground in February, up more than 8% vs. January, but still down more than 4% year on year (y/y), according to GlobalData.
Layoffs begin as Algoma Steel unwinds integrated operations
The layoffs at Algoma Steel’s integrated facility went into effect today. Going forward, it will use the electric arc furnace (EAF) for producing its steel.
Construction spending down marginally in January
Construction spending edged down slightly in January, slipping for the first time in three months.
Plate producers hold firm on pricing despite uneven demand
Plate market sources say the week has been quiet, but that overall, business remains consistent.
Sheet prices reflect tighter supply, sources flag mill utilization rates
As spot prices for hot- and cold-rolled coils edge higher, mill capacity utilization rates hover below 80%, raising concern among some market participants.
AIA sees signs of stabilization in architecture billings
The American Institute of Architects (AIA) said architecture billings showed signs of stabilizing in February, with the headline index reading coming in just below 50.
February service center shipments and inventories report
US service centers’ flat-rolled steel supply declined for a second consecutive month in February, with shipping days of supply slipping to 52.2 on an adjusted basis, according to SMU data.
US steel groups cheer as USTR launches sweeping probe into global overcapacity
The office of the US Trade Representative has opened a major Section 301 investigation into structural excess capacity across global manufacturing, with steel and aluminum at the center of the inquiry.
Business conditions indicate market's increasing strength: Plate sources
Domestic plate market participants expressed confidence in the overall improvement of market conditions this week.
Worthington decreases mandatory share threshold for Kloeckner buy
Worthington Steel reduced its minimum acceptance threshold to 57.5% for its purchase of Kloeckner & Co.
Serviacero USA secures site for first US manufacturing operation
Serviacero USA is set to establish its first US manufacturing operation after purchasing a rail-served site at the Gulf Inland Logistics Park in Houston.
Nucor ups HRC spot price by $5/st
Nucor’s consumer spot price (CSP) for hot-rolled coil increased to $1,010 per short ton (st), up $5/st from last week.
Sheet sources laud stable demand and solid prices
Participants in the US hot- and cold-rolled sheet market cautiously called the week a win as prices inched north and demand picked up.
Plate sources eye imports, cite domestic supply concerns
Plate sources say they’re welcoming imports as domestic mill delivery delays, extended lead times, and climbing prices make fully adopting US-produced plate products unrealistic.
Mexico suspends import activity for 350 steel companies, begins bilateral USMCA talks with US
Mexico’s Secretary of Economy is conducting ‘Operation Clean-Up,” inspecting suspicious steel companies to verify compliance with rules of origin.
Beige Book: Majority of districts see modest economic growth
Economic activity across the US increased at a light-to-modest pace in seven of the 12 Federal Reserve Districts, according to the US Federal Reserve’s latest Beige Book report.
AMSCI flags maritime trade implications as Middle East conflict unfolds
The American Metals Supply Chain Institute (AMSCI) said increasing insurance premiums, potential vessel diversions, and contractual risk evaluations began in the global freight market as geopolitical conflict escalates in the Persian Gulf region.