First thing I want to say is everyone needs to be aware that the market is plum full of rumors and half-truths. There are rumors about dumping suits, Severstal sale, pricing (going both ways) and more. When you hear something question the source, see if there is anything in writing or if the information can […]
Big River Steel will break ground on the new 1.6 million ton flat rolled mill some time later this month, according to their Chief Commercial Officer, Mark Bula. Construction of the new flat rolled electric arc furnace mini-mill was delayed for about a year as Big River Steel (BRS) had to wait until all air […]
U.S. light vehicle sales increased in May to nearly 16.8 million units at a seasonally adjusted annual rate, (SAAR) up from an average of 15.8 million units in the first five months of 2014 and the strongest rate since February 2007. Light vehicles are autos and light trucks (GVW Classes 1-3, under 14,001 lbs.). Automotive […]
The Institute of Supply Management released their June report on July 1st. The June PMI registered 55.3 percent, down slightly from 55.4 percent in May. Any number > 50 indicates expansion and this was the thirteenth straight month for which this was the case. The three month moving average (3MMA) advanced for the third consecutive […]
The Institute of Supply Management released their June report on July 1st. The June PMI registered 55.3 percent, down slightly from 55.4 percent in May. Any number > 50 indicates expansion and this was the thirteenth straight month for which this was the case. The three month moving average (3MMA) advanced for the third consecutive […]
Final financing has been approved for Big River Steel in Mississippi County, Arkansas. Construction is expected to begin in July with a formal groundbreaking ceremony in September according to a spokesperson for the Arkansas Economic Development Commission (AEDC). “It’s truly been a team effort between our investors, local and state leadership, our management team, and […]
The JP Morgan Global Manufacturing PMI rose moderately to 52.7 in June from 52.1 in May, an expansion of the manufacturing sector for the 19th month. Production increased at the fastest rate since February due to a flow of new orders. International trade volumes were subdued in June reported JP Morgan and Markit. The June […]
Worthington Industries announced it had “a great fiscal 2014” in its earnings report on Thursday. The company reported net earnings of $151.3 million for FY 2014. Net sales were up 20 percent year over year to $3,126.4 million due to the consolidation of joint venture Tailor Welded Blanks, higher steel processing volumes and the acquisitions […]
Hello from Chicago, home of our first Managing Price Risk II: Strategies & Execution workshop. We have an excellent group in attendance and the program is going well. Tomorrow (Wednesday) is day 2 when we provide an opportunity to our attendees to do simulated trading based on profiles and directives that they have to meet […]
U.S. light vehicle sales increased in May to nearly 16.8 million units at a seasonally adjusted annual rate, (SAAR) up from an average of 15.8 million units in the first five months of 2014 and the strongest rate since February 2007. Light vehicles are autos and light trucks (GVW Classes 1-3, under 14,001 lbs.). Automotive […]
Steel Dynamics Inc. (SDI) expects higher profits in second quarter compared to first quarter 2014. In its Second Quarter Earnings Guidance, SDI said steel shipments and metal spreads are improving despite increased import activity. SDI anticipates demand from automotive, manufacturing and construction will continue to trend upward. Residential construction has rebounded with the return of […]
“No-one should doubt that steel remains the material of choice for the automotive industry,” asserted ArcelorMittal Chairman and CEO Lakshmi Mittal at the annual Steel Success Strategies conference in New York. “I want to stress that steel can provide all the weight reduction that auto producers require to satisfy the new fuel efficiency standards; for […]
We included this article in tonight’s issue because we saw evidence of confusion between the defunct Warren Steel of RG Steel fame and that of Warren Steel Holdings which is a long products mill also located in Ohio. Long products producer Warren Steel Holdings, LLC (not to be confused with the former Warren flat rolled […]
A short note to let our Premium Level members know that our Steel Market Update survey results are online and can be accessed on the website. If you need assistance accessing any of the Premium products on our website please let me or Brett@SteelMarketUpdate.com know and we will help you. We are also sharing this […]
Steel Market Update sources confirmed that the two Severstal North America (NA) steel mills are for sale. At 7.0 million tons of steelmaking capacity, Severstal NA is the fourth largest flat rolled steel producing mill in the United States. Rumors of the possible sale of the Dearborn and Columbus facilities had been circulating around the […]
The steel storage facilities located at ports around the United States are brimming with foreign steel. We have been advised that companies like Kinder Morgan and Fleetwood Port Services are at maximum capacity in their Houston facilities and struggling with Savannah, Camden and other port facilities. However, that is not the major problem facing the […]
The auto sale roundup for May started out with gusto. Early reporter Chrysler posted US automotive sales at 194,421 units, a 17 percent increase year over year. Chrysler’s Jeep brand set a sales record in May with 64 percent jump in sales. On CNBC this morning, they were reporting Chrysler as saying their forecast was […]
Manufacturing expanded for the 12th consecutive month in May according to the Manufacturing ISM Report on Business released by the Institute of Supply Management. The PMI registered 55.4 percent, an increase of 0.5 percent. The new orders index grew 1.8 points to 56.9. The production index gained 5.3 points to a reading of 61.0 percent. Employment continued […]
For those of you who are paying attention to our website you might have noticed we added a new sub-menu under the Resources tab. The new menu is called “The Truth About Selling Steel” and we have attempted to split out those articles associated with sales from our Steel Buyers Basics series of articles many […]
Light vehicle sales in the US declined to an annual rate of 16 million units in April following March’s torrid pace of 16.4 million. Even so, April was third only to November 2013 and March 2014 in the last eight months. Light vehicles are cars and light trucks (GVW Classes 1-3, under 14,001 lbs.). The […]
Steel Market Update attended SMDI’s “Great Designs in Steel” conference on May 14. This was the 12th year of the popular GDIS conference, and it was well attended with over 1200 auto steel players. The focus of the conference was on auto light weighting through the use of advanced high strength steels (AHSS). There were […]
The key highlight of first quarter was the Calvert acquisition, said ArcelorMittal CEO Lakshmi Mittal in the company’s first quarter earnings call. ArcelorMittal’s 50 percent ownership of AM/NS Calvert gives AM the capacity needed to supply AHSS solutions for the auto industry in the US and Mexico. ArcelorMittal has been focusing on light weight steels […]
Steel Market Update sources confirmed that the two Severstal North America (NA) steel mills are for sale. At 7.0 million tons of steelmaking capacity, Severstal NA is the fourth largest flat rolled steel producing mill in the United States. Rumors of the possible sale of the Dearborn and Columbus facilities had been circulating around the […]
In case you missed the special issue we put out on Saturday we have reproduced the article below: Steel Market Update sources confirmed that the two Severstal North America (NA) steel mills are for sale. At 7.0 million tons of steelmaking capacity, Severstal NA is the fourth largest flat rolled steel producing mill in the […]
Allied Tube & Conduit and members of USW Local 9777 reached an agreement on a new contract on Sunday, ending a week-long strike. The contract for USW Local 9777 expired in April 2013 and the company and union officials have been in negotiations for the past year. A compromise over the weekend led to contract […]
Automotive sales were encouraging in April, with most auto manufacturers posting positive gains year over year. WardsAuto reports sales totaled 1.37 million units compared to 1.18 million in April 2013. Sales reached a seasonally adjusted annual rate (SAAR) of 16.0 million for the second consecutive month. Consumers demand is supported by low interest rates and […]
“We weathered not only the economic storm with five years of losses but also the first quarter’s extreme weather,” was one of the opening remarks by Executive Vice President & CFO David Burritt in the US Steel Conference Call on Thursday. Weather played a huge part in operations at US Steel in the first quarter. […]
US Steel reported a net income of $52 million for the first quarter of 2014 on net sales of $4.4 billion, compared to net income of $270 million (adjusted net income of $38 million) in fourth quarter 2013. Shipments for the quarter totaled 4.1 million tons. Flat rolled steel sales operating income in first quarter […]
Mill Steel Co, a flat rolled steel service center company in Grand Rapids, Michigan, is investing $16.2 million in the purchase, opening and expansion of operations in Jeffersonville, Indiana, at the Port of Indiana-Jeffersonville. The existing 105,000 square foot facility will be expanded to 225,000 square feet and will house two state-of-the-art slitting lines in […]
SSAB Americas felt the effects of the winter freeze in the first quarter of 2014. Sales for the Americas segment were SEK 3,685 million ($559 million), down 2 percent from fourth quarter 2013 but 7 percent higher than Q1 2013. Higher prices and a favorable product mix were offset by lower volumes. External steel shipments […]