ArcelorMittal plans to build a new electrical steel manufacturing facility near its AM/NS Calvert joint-venture mill in Alabama. The steelmaker plans to produce 150,000 metric tons (165,350 short tons) of non-grain-oriented electrical steel (NOES) annually there through its wholly owned subsidiary, ArcelorMittal Calvert LLC. ArcelorMittal revealed its plans for the new mill on Monday, following the Department […]
Ford Motor is getting white-collar workers ready to do blue-collar jobs at parts depots in the event of a strike, according to an article in The Detroit Free Press on Thursday.
I am happy to announce that there are officially now more than 1,400 people attending SMU Steel Summit next week in Atlanta. That’s a new record for us, and I thank all of you for making it possible. I am also happy to say that Barry Zekelman, executive chairman and CEO of Zekelman Industries, will be joining us for the first fireside chat of Steel Summit on Monday, Aug. 21, at 3:40 pm ET.
Despite reporting the third highest quarterly revenues in its history, Greenwave Technology Solutions still posted a loss for the quarter ended June 30.
If you haven’t already registered, there’s still time to join the more than 1,300 attendees from over 500 companies that will be in Atlanta for Summit.
CRU research manager Stephen Williamson shares his views of this week's aluminum market.
First, I want to say a big “thank you” to everyone who is attending Steel Summit this year. Earlier this week, we officially broke the attendance record we set last year. Numbers continue to rise. More than 1,300 will be there when the event kicks off on Monday, Aug. 21, at the Georgia International Convention Center in Atlanta.
A former leader of Ford Motor Co. recently spoke out on the potential for a United Auto Workers (UAW) strike at the Big Three Detroit automakers.
Canadian union Unifor kicked off negotiations with the Detroit 3 automakers today, with its president saying the “talks will be the most consequential and closely watched in decades.”
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, sheet prices abroad, inventory, and what people are talking about in the market.
SMU’s hot-rolled coil price slipped a little below $800 per ton ($40 per cwt) this week for the first time in more than six months. You’d think that might have caused more of a fuss than it appears to have. Instead, many of the conversations I’ve had with folks in the market today have been […]
A strike at the Big Three Detroit automakers continues to loom on the horizon, and that potential is increasing as the United Autoworkers (UAW) union is pushing for big changes to labor contracts in the wake of soaring profits from the automakers.
This is a tough time to be in the forecasting business, especially when it comes to steel. You might have a battle-tested model based on the latest macroeconomic data, prices, inventories, and lead times. The catch: Whatever a forecast might showing now could be overshadowed by events next month. Namely, labor negotiations between the United Auto Workers (UAW) union and automakers General Motors, Ford, and Stellantis.
US Midwest premium has continued to trend lower. Slack end-use demand is the main driver as the CME backwardation holds for dates further out in 2023. Lower freight and weak LME prices lower the replacement costs of aluminum and thus lower the floor for the premium.
SMU's Current and Future Steel Buyers Sentiment Indices have both fallen this week from the last market check, according to our most recent survey data.
It feels like the market is in a bit of a holding pattern. Lead times are roughly sideways, according to our latest check of the market. Will they begin to extend now that most mills are into September not only for cold-rolled and coated products but also for hot band?
Latin American steelmaker Ternium remains optimistic that positive trends in the Mexican market will help it to continue increasing its market share.
While Ternium is expecting an increase in shipments in the current quarter, a decrease in earnings is also anticipated due to lower international steel prices and higher unit costs.
Kloeckner Metals Corp. has completed the acquisition of National Material of Mexico.
Nucor has received its final federal permit to begin construction on its sheet mill in Mason County, W.Va.
Nucor has received its final federal permit to begin construction on its sheet mill in Mason County, W.Va. The Charlotte, N.C.-based steelmaker said it received the permit on Friday from the US Army Corps of Engineers to start work on the ~$3.1-billion project. Construction is set to begin immediately and expected to last approximately two years, Nucor […]
There is a lot going on at SMU right now. We’re going to be rolling out a new website over the next few days. We’ve also got more than 1,200 people registered to attend Steel Summit this year, putting us on pace to potentially break last year’s attendance record of nearly 1,300. The event is […]
China recently became the world’s largest exporter of cars. Experience from the steel industry suggests this is not a trend that will reverse.
Steel prices and shipment volumes will probably be lower in the third quarter than they were in the second, U.S. Steel executives said. But the Pittsburgh-based steelmaker expects to benefit over the longer term from three big trends: decarbonization, de-globalization, and digitization – all of which should encourage the reshoring of manufacturing to the US, […]
Steel prices and shipment volumes will probably be lower in the third quarter than they were in the second, U.S. Steel executives said.
There is a lot going on at SMU right now. We’re going to be rolling out a new website over the next few days. We’ve also got more than 1,200 people registered to attend Steel Summit this year, putting us on pace to potentially break last year’s attendance record of nearly 1,300.
For starters, thanks to Barry Zekelman, chairman and CEO of Zekelman Industries, for taking time for a Community Chat on Wednesday. Zekelman was, as always, sharp on steel. He also caught my attention and some of yours when he said he was interested in buying a steel mill.
For starters, thanks to Barry Zekelman, chairman and CEO of Zekelman Industries, for taking time for a Community Chat on Wednesday. Zekelman was, as always, sharp on steel. He also caught my attention and some of yours when he said he was interested in buying a steel mill. “I’ve dreamed of owning a steel mill […]
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, import offers, and inventory. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your thoughts, too! Contact david@steelmarketupdate.com to be included in […]
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, import offers, and inventory. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your thoughts, too! Contact david@steelmarketupdate.com to be included in […]