Algoma Steel is currently navigating a challenge as it deals with an unplanned outage at its blast furnace, but the company’s CEO is still bullish on its future as an EAF steelmaker. The post Tampa Steel: Garcia lays out Algoma Steel’s path forward appeared first on Steel Market Update.
Scrap prices rose m/m in South Korea and China due to mills' restocking purchase while these stayed unchanged in Southeast Asia and Japan because of slow market activity. Chinese scrap prices rose to RMB3,060 /t in early January, recording a 150 /t m/m growth. This was mainly due to mills' winter restocking purchase for scrap […]
SMU doesn’t do forecasts. We leave that to our colleagues at CRU. But we’re pretty good at surveys, and we’ve got a great group of readers. That’s why we decided to ask you what’s in store for 2024. The results are below, along with some insightful comments in italics. The post Final thoughts appeared first on Steel Market Update.
Scrap prices majorly increased m/m in December with supply holding at low levels, as is seasonally expected, while demand strengthened, most noticeably in the USA. The sudden price rise was also seen in Europe, while Asian prices rose by a much lesser extent. Other metallics prices also increased. Scrap prices rise on western markets’ demand […]
Scrap prices rose m/m in all major Asian markets. Besides more restocking demand from Southeast Asia, the sharp increase in US scrap prices has pushed up import prices in the Asian markets and enabled Asian exporters to raise offer prices. Chinese domestic scrap prices rose to RMB2,910 /t in mid-November and stabilised at this level […]
Algoma Steel’s CEO Michael Garcia joined SMU Managing Editor Michael Cowden for a Community Chat on Wednesday, Nov. 29. A great discussion was had on topics ranging from plate pricing to decarbonization efforts, raw materials strategies, and more. The post SMU Community Chat: Algoma’s CEO talks prices, decarb, raw materials appeared first on Steel Market Update.
The pig iron trade is an important element to the US steel and foundry industry. The post SMU Explains: A Brief History of the US Pig Iron Market appeared first on Steel Market Update.
Metals and electronics recycler Sims Ltd. reported lower earnings in its North America Metal division for its fiscal-year 2023 that ended June 30 due to “falling sales prices and strong domestic competition.” The post Sims’ FY’23 N. America Earnings Dip, But Touts Recent US Buys appeared first on Steel Market Update.
The prime scrap and metallic shortage in the US will continue over the next few years, according to Cleveland-Cliffs’ top executive. “Our conviction that this country’s prime scrap and metallic shortage will continue to tighten over the coming years is at the core of our strategy,” Cliffs’ chairman, president, and CEO Lourenco Goncalves said during […] The post Metallic, Prime Scrap Shortage to Persist: Goncalves appeared first on Steel Market Update.
The steel industry in the US, and across much of the developed world, finds itself between two greens. On the one hand is the constant innovation towards sustainable, decarbonized “green” steel. And, on the other, is a more traditional green, the bottom line: money. The hope is to keep the two aligned, increasing profits while […] The post Final Thoughts appeared first on Steel Market Update.