Return-Path: Delivered-To: info@sterlingcal.com Received: from reseller401.webserversystems.com by reseller401.webserversystems.com with LMTP id qG0/Ck83U2dwDQYAchKAPA (envelope-from ) for ; Fri, 06 Dec 2024 11:41:35 -0600 Return-path: Envelope-to: info@sterlingcal.com Delivery-date: Fri, 06 Dec 2024 11:41:35 -0600 Received: from sender-233.fsu3.zcsend.net ([135.84.81.233]:59035) by reseller401.webserversystems.com with esmtps (TLS1.2) tls TLS_ECDHE_RSA_WITH_AES_256_GCM_SHA384 (Exim 4.96.2) (envelope-from ) id 1tJcKb-001jR0-2E for info@sterlingcal.com; Fri, 06 Dec 2024 11:41:35 -0600 Received: from 10.75.159.170 by sender-233.fsu3.zcsend.net with SMTP id 173350688191384961; Fri, 06 Dec 2024 09:41:21 -0800 DKIM-Signature: a=rsa-sha256; b=SeA11z828P2/FWJDQrkxn0Z7fFirMPpmqCKn6FO+y1uBtu4xAuiDr9dzbo+JmcTp/69OzG2F4WjcyDhn69dQMeUXRFyEMlU+AYl91o+2NNyyau+ZnS6phcPbDCfhvIVVqUsm5EGsOq81Yw/CWSrjpm3V1vrIBY5xJ6RLwE49seA=; c=simple/simple; s=81024; d=staalx.com; v=1; bh=rvYUsTDzwYXYTcWJHLccHzQRIhR7Quo3stBYP0KGdos=; h=date:from:to:message-id:subject:mime-version:content-type:list-unsubscribe:list-unsubscribe-post:x-csa-complaints; DKIM-Signature: a=rsa-sha256; b=dLiefUzvSoIYX855XY71LdlG3orHG7UK+XJEwsherJmEFyz4d8Rc4/mV7cS9FdWKDQy/Nz8kby/3blJjsyCudYUzGQdeA27P4xCszqFZ+qRRGbgDaxU0OOpBo2Obm3qpn0CiVzv3CRocDi4Fsz7Jo6DC1I+FfhNLbB1JZiXjeYM=; c=simple/simple; s=k1; d=mail3.zgph.zcmail.net; v=1; bh=rvYUsTDzwYXYTcWJHLccHzQRIhR7Quo3stBYP0KGdos=; h=date:from:to:message-id:subject:mime-version:content-type:list-unsubscribe:list-unsubscribe-post:x-csa-complaints; Date: Fri, 6 Dec 2024 09:41:21 -0800 (PST) From: "StaalX Team" To: Andrew Sterling Message-ID: Subject: Domestic mills are itching to raise their prices MIME-Version: 1.0 Content-Type: multipart/alternative; boundary="----=_Part_2334346_1299262999.1733506881901" List-Unsubscribe: , List-Unsubscribe-Post: List-Unsubscribe=One-Click X-CSA-Complaints: csa-complaints@eco.de Reply-To: campaign_769017310+zcreply.1c08f772a3e587c2@zcsend.net X-JID: 3zbbfd3107516e2747240afb213f83dea99f3114ab6bc11315f109b5f5525d0f45.1c08f772a3e56633 X-campaignid: zohocampaigns.3zbbfd3107516e2747240afb213f83dea99f3114ab6bc11315f109b5f5525d0f45.zcb.1c08f772a3e587c2.11699e4c243d856 X-Zoho-RID: zohocampaigns.3zbbfd3107516e2747240afb213f83dea99f3114ab6bc11315f109b5f5525d0f45.zcb.1c08f772a3e587c2.11699e4c243d856 X-Mailer: Zoho Campaigns X-Report-Abuse: , X-Spam-Status: No, score=-2.1 X-Spam-Score: -20 X-Spam-Bar: -- X-Spam-Flag: NO ------=_Part_2334346_1299262999.1733506881901 Content-Type: text/plain;charset="UTF-8" Content-Transfer-Encoding: quoted-printable https://staalx.com StaalX Newsletter, December 6, 2024 (Scroll down for Steelorbis news) Updates From This Week http://staalx.com Domestic mills are itching to raise their prices Is the demand strong enough to enable a price hike in December? There is a lot of enthusiasmfor 2025 in the construction sector.Donald Trum= p has won the US elections, and a lot of regulations and red tapeshould be = eliminated to clear the way for a robust commercial and residential constru= ction.The US economy is doing well and is expected to switch to a higher ge= ar under the new president's administration.But the long awaitedrobust stee= l consumption remains to be elusive. New trade barriers against foreign steel are also inevitable.Already,steel = makers are asking for more protection from the upcoming Trump administratio= n on top of countless antidumping, countervailing, anti-circumvention, Sect= ion 232 and Section 301 duties and tariffs.Despite all these protections th= at are already in place, some US steel mills are still struggling to makemo= ney. For example, Liberty Steel in Peoria has now temporarily shut down both the= ir steel making and wire production despite all the protections they have f= rom foreign competition.They are saying they will be back sometime in Q1 20= 25, but most low carbon rod buyers are questioning if that's really going t= o happen and now have to switch to their Plan B of running their wire plant= s with some Q1 imports from Egypt, Vietnam and Malaysia. Steelmakers say that only 20% of the imports are taxed with tariffs but in = case of low carbon wire rod and rebar, this percentage is almost 90%.Only s= ome selective imports of long products made with Ukrainian billets are tari= ff free with a presidential proclamation.With Trump coming, the favorable s= tatus of long products made with Ukrainian steel will also fall by the ways= ide.Trump has already threatened to put 25% tariffs on all Mexican and Cana= dian imports, which is coincidentally the exact rate of the Section 232 tar= iffs since 2018. For now, better demand and reduced foreign competition are supporting domes= tic prices, which are trending slightly upward but remain relatively stable= overall. Unlike the rod mills that were able to push some price increases,= rebar mills were divided on a price increase. Nucor didn't follow last mon= th's price increase announcements by other mills, effectively throwing cold= water on the market.This month, they might find a stronger outlook to go f= or it.Right now it's a no-brainer to buy what one needs as there is almost = zero chance that the market will go down in Q1. Steel Sourcing, Made Simple http://staalx.com StaalX takes the stress out of steel procurement. Competi= tive pricing, reliable logistics, and nationwide reach=E2=80=94all in one p= lace. Reach out to us today at mailto:support@staalx.com?subject=3D trading@staal= x.com to see how we can help you. Below is a recent shipment of specialty l= ead grade steel products that we dispatched to our clients. http://staalx.com StaalX exhibits at the World of Concrete 2025 https://www.worldofconcrete.com/en/home.html We look forward to meeting you at our N2844 booth to learn about your needs= and how http://staalx.com StaalX can help you source competitively priced = products when you need them.=20 Moreover, StaalX proudly sponsors SteelOrbis' Rebar & Wire Rod conference o= n Monday, January 20, 2025. This is the only steel-focused event scheduled = alongside the World of Concrete =E2=80=94 a can=E2=80=99t-miss networking o= pportunity for concrete reinforcing professionals. We=E2=80=99re thrilled to announce that our CEO, Murat Askin, will be moder= ating and speaking at the event, sharing valuable insights with attendees. Click the image below to learn more about the event and register! https://event.steelorbis.com/en/rwr2025/ From our content partner, SteelOrbis http://steelorbis.com US import rebar and wire rod pricing mixed even as domestic supply tightens= | Thursday, 05 December 2024 02:02:03 (GMT+3), San Diego US import rebar and wire rod pricing was mixed this week as demand continue= s to falter, even as domestic supply is expected to remain constrained with= a key wire, wire rod and rebar production plant now confirmed to remain of= fline for the next several months. Insiders say the Liberty Steel outage ha= s allowed US suppliers more liberty to raise their prices, even as few mill= s have yet to implement those price increases because of continued competit= ion from their competitors. Recent reports indicate that Liberty Steel will shut its wire and wire rod = mill at its Peoria, Illinois plant on December 6, furloughing more than 260= employees at the wire rod mill, as well as another 280 workers at the wire= mill, "Due to financial troubles the company is facing," said Penny Wright= , president of the Independent Steel Workers' Alliance, the union that repr= esents the furloughed workers, in a report published in a December 2 local = newspaper report. "After evaluating the current steel market challenges, including the influx= of lower-priced imports, we have made the difficult decision to idle the P= eoria Mill temporarily from December 6," Wright said. "The wire mill staff = will be retained on furlough during this period, and the organization plans= to restart as the market improves, with a projected restart date of early = February." While this week's report from the union president confirms many details pre= viously reported by SteelOrbis through market contact channels, uncertainty= remains high whether the unit will restart anytime soon. "A lot of people are speculating that the Liberty plant will never come bac= k online because of the parent company's continued financial troubles," a l= ong steel market insider remarked to SteelOrbis. "This situation with Liber= ty is causing a local shortage of wire rod and rebar which is causing impor= t prices to begin to climb. Who knows, maybe President Trump (next year) ca= n throw them a lifeline." This week's market assessment differs from that reported during the week of= November 23, when prices on the week were mostly lower overall following a= n earlier weekly price bump as insiders purchased supply ahead of the Novem= ber 28 Thanksgiving Day holiday. And, while domestic and import rebar and w= ire rod pricing thus far in the fourth quarter remains in a fairly narrow a= nd limited range, competition from US domestic mills for market share versu= s imports is expected to remain spirited, market insiders said. "Overall, people are starting to get more interested in purchasing imports = going into the first quarter," the long steel insider said. "Prices are tre= nding up, and while current demand still remains kind of soft, domestic mil= ls are expected to begin raising prices later in December." In the weekly import markets, US East Coast rebar on a loaded truck basis i= s discussed at $36.50-37.50/cwt. ($730-750/nt or $805-827/mt), up from $36.= 00-36.50/cwt. ($720-730/nt or $795-805/mt) seven days earlier. US Gulf Coas= t rebar on a loaded truck basis was steady on the week at $35.75-36.75 cwt.= ($715-735/nt or $788-810/mt), insiders said. Imported wire rod mesh on a DDP loaded truck basis US Gulf is discussed sta= ble following earlier weekly declines at $37.00/cwt. ($740/nt or $827/mt), = while import wire rod last traded at $36.50-37.50 cwt. ($730-750/nt or $805= -827/mt), off slightly from $37.00-$38.00/cwt. ($740-760/nt or $816-838/mt)= reported one week ago. Competition from aggressive domestic suppliers cont= inues to limit new spot import transactions, insiders said. Despite a continued domestic wire rod shortfall, some importers say domesti= c long steel supply still remains a more attractive option versus imports d= ue to a continuation of aggressive domestic mill discounting programs, shor= ter lead times for local delivery, and reduced geopolitical risk. They add = that, owing to low domestic finished steel demand, recent price increase an= nouncements from steel producers CMC and Nucor as well as more recent price= increases from several Canadian mills, have could continue to have a limit= ed impact on rebar and wire rod values in weekly spot markets. Import rebar pricing offers from Egypt were reported less again on the week= following earlier slight increases, with most new offers noted on a delive= red to customer basis at $35.75/cwt. ($715/nt or $788/mt) off from $36.50/c= wt. ($730/nt or $805/mt) one week ago. Delivered rebar from Mexico vicinity Houston, Texas, on a loaded truck basi= s is discussed slightly lower again on the week at $35.75-37.75 cwt. ($715-= 755/nt or $788-832/mt), off from $36.00-$38.00/cwt. ($720-760/nt or $794-83= 8/mt) a week earlier. Import insiders remain hopeful that pricing from Mexi= co could move slightly higher in the near term as a result of improved mark= et sentiment following the US presidential election and the addition of mor= e tariffs on imported steel. "Overseas supply remains limited, while competition among domestic supplier= s has made pricing challenging for imports," reports one Mexican long steel= insider. "Things could be changing soon, as scrap for December is trending= sideways, while the outlook for January is sideways to higher." US import long steel markets trade mostly lower ahead of US Thanksgiving ho= liday | Thursday, 28 November 2024 01:10:33 (GMT+3), San Diego US import rebar and wire rod pricing was reported mostly lower in limited n= ew trade, ahead of this week's shortened Thanksgiving holiday work week, lo= ng steel market insiders told SteelOrbis. This week's assessment differs from that reported during the week of Novemb= er 18, when import long steel prices were reported mostly stable to up slig= htly as many market participants scrambled to secure most of their supply r= equirements well ahead of the US Thanksgiving holiday on November 28. And while prices on the week were mostly lower overall, rebar and wire rod = pricing thus far in the fourth quarter remains in a fairly narrow and limit= ed range, as competition from US domestic mills for market share versus imp= orts remains spirited, market insiders said. "This week, we're seeing order entries have improved with the US election r= esults helping to boost market confidence," said one US Gulf Coast long ste= el market insider to SteelOrbis. "Bringing in imports remains a challenge r= ight now, because overseas supply remains limited, and US mills remain quit= e competitive on their offers." In the weekly import rebar markets, US Gulf Coast rebar on a loaded truck b= asis is discussed slightly less at $35.75-36.75 cwt. ($715-735/nt or $788-8= 10/mt), versus $36.50-37.50/cwt. ($730-750/nt or $805-827/mt) reported on a= delivered to customer basis one week ago. On the US East Coast, imported r= ebar traded at $36.00-36.50/nt ($720-730/nt or $795-805/mt), off from $36.5= 0-37.50/cwt. ($730-750/nt or $805-827/mt) reported on a delivered to custom= er basis seven days earlier. Owing to continued low domestic demand for finished steel, generally stable= to slightly lower pricing was also noted in the import wire rod and mesh m= arkets, insiders said, even as US domestic wire rod supply will likely rema= in reduced through March 2025, as a result of the ongoing Liberty Steel wir= e and wire rod plant outage. At last report, the unit is expected to remain= shut through March 3, 2025. Insiders said the outage has allowed US suppli= ers more liberty to raise their prices, though import values have yet to ch= ange very much because of competition from domestic suppliers. Imported wire rod mesh on a DDP loaded truck basis US Gulf is discussed sli= ghtly less at $37.00/cwt. ($740/nt or $827/mt), versus earlier week-ago tra= des that averaged $37.50/nt ($827/mt). Import wire rod last traded $37.00-$= 38.00/cwt. ($740-760/nt or $816-838/mt), unchanged on the week with competi= tion from domestic suppliers limiting new spot transactions, insiders said. Despite the anticipated wire rod shortfall, many importers say domestic lon= g steel supply still remains a more attractive option versus imports due to= a continuation of aggressive domestic mill discounting programs, shorter l= ead times for local delivery, and reduced geopolitical risk. They add that,= owing to low domestic finished steel demand, recent price increase announc= ements from steel producers CMC and Nucor as well as more recent price incr= eases from several Canadian mills, have had little impact on rebar and wire= rod values in weekly spot markets. "Recent price increases from the mills just have not taken hold in the week= ly markets," one US Gulf Coast steel importer told SteelOrbis. "Some people= are still looking for another price increase from Nucor, but others think = it's unlikely to happen because of continued low demand for finished steel.= " Nucor's most recent price increase of $20/nt ($22/mt) on wire rod transac= tions was announced on November 12, with existing price orders prior to the= price increase price protected if shipped by November 30, Nucor said in a = letter to its customers. Import rebar pricing offers from Egypt were reported less on the week follo= wing slight increases this past week, with most new trades noted on a deliv= ered to customer basis at $36.50/cwt. ($730/nt or $805/mt). Insiders noted = a continued lack of offers from Algeria, owing to competitive domestic pric= ing, while import offers from Turkey remain noncompetitive at $38/cwt. ($76= 0/nt or $838/mt), market insiders said. Delivered rebar from Mexico vicinity Houston, Texas, on a loaded truck basi= s is discussed slightly down on the week at $36.00-$38.00/cwt. ($720-760/nt= or $794-838/mt), versus previous assessments one week earlier at $37.00-38= .00/nt ($740-760/nt or $816-838/mt). Insiders remain hopeful that pricing c= ould move slightly higher in the near term as a result of improved market s= entiment following the US presidential election and the addition of more ta= riffs on imported steel. December US scrap markets now seen sideways to soft sideways as domestic de= mand lags | Wednesday, 27 November 2024 20:56:49 (GMT+3), San Diego =20 US scrap markets for December are now seen sideways to soft sideways to Nov= ember settled pricing, a bit weaker than was heard seven days ago, as domes= tic mill demand for scrap is reported low, despite continued reports of tig= ht inventory levels at local collection yards, market insiders told SteelOr= bis this week. "Industrial inflows are still way off," said one Midwest scrap insider. "I = am looking at soft-sideways with slow inflows offsetting slower mill demand= for next month." Last week, the consensus among market insiders called for December scrap to= settle sideways to November, based on reports of improved market sentiment= following the November 5 US presidential election, still low reported inve= ntories at scrap yards, and forecasts for the first blast of cold weather a= nd snow forecast to impact scrap markets the US Midwest and Northeast regio= ns. "Any hope of sideways right now would be great," said another Midwest scrap= insider, commenting on the weekly change from previous the December scrap = outlook. "The markets have been wishy-washy since the week before last. Cas= h is king right now, and order books (at mills) remain soft, and the only r= edeeming thing is scrap (in-flows) may be less than demand." Scrap insiders caution that fast approaching winter storms spreading across= the US Northeast and upper Midwest could cause price spikes in the US Ohio= Valley and potentially the US Northeast, given low inventory, even as dema= nd for finished steel from the US auto and manufacturing sectors remains un= remarkable thus far in the fourth quarter, and overseas scrap prices remain= depressed. Snowfall and colder weather usually reduce inflows of scrap int= o collection yards, they said. "Bad weather is supposed to be coming (again) this way, so old man winter m= ight have the last right of say on the market," the Midwest scrap insider s= aid. "It has happened before where scrap prices spike as a result of cold w= eather and snow." Other scrap insiders already have written off December as a potentially hig= her scrap month, hoping higher pricing for January and February scrap will = improve cash flows for still struggling scrap businesses. "If mills take scrap down (for December), it will cut off a lot of (inflow)= , but yes, I am hearing sideways to soft sideways," he said. "Many supplier= s do believe we will see prices go up in January (and) February so hopefull= y, mills keep prices steady to close out the year. Taking it down now doesn= 't do the market any justice in my opinion on all fronts except make things= much harder on everyone at this point." In the Ohio Valley, based on this week's sideways to soft sideways December= forecast settle, shredded scrap is seen at or below the November settle of= $385-390/gt ($391- 396/mt), while busheling grades are expected at or belo= w $390-415/gt ($396-422/mt). P&S grades are now seen at or lower than the $= 376-386/gt ($382-392/mt) November settle, while HMS I/II 80:20 grades are s= een at or below the $340/gt ($345/mt) on limited Midwest demand requirement= s for heavy melt steel, market insiders told SteelOrbis this week. All Ohio= Valley pricing is on a delivered to mill basis. On the US East Coast, December shredded grades are seen at or below the $37= 0-380/gt ($376-386/mt) November settle, while busheling grades are expected= at or below the $400-$410/gt ($406-$417/mt) November settle. On the P&S fr= ont, December is expected at or below the $340-350/gt ($345-356/mt) Novembe= r settle, while December HMS 80:20 scrap is expected at or below the $341-3= 51/gt ($346- 357/mt) November settle, market insiders said. All US Northeas= t price references are on a delivered to mill basis. Do you have any questions? Check out our FAQ! Check out the most frequently asked questions about the service and product= s of StaalX. We are always here to chat with you in the chat boxes from the= site or on the support telephone number below. https://www.staalx.com/faqs FAQs Contact us support@staalx.com or +1 (708) 697-3227 Follow StaalX on https://www.linkedin.com/company/rebar-revolution https://www.linkedin.com/company/rebar-revolution LinkedIn https://www.facebook.com/Staal.X/ https://www.facebook.com/Staal.X/ Facebook https://www.instagram.com/staal.x/ https://www.instagram.com/staal.x/ Instagram https://www.twitter.com/rebarrevolution https://www.twitter.com/rebarrevolution X Want to change how you receive these emails? You can https://qprdy-zgpvh.maillist-manage.net/ua/optout?od=3D3zbbfd310751= 6e2747240afb213f83dea99f3114ab6bc11315f109b5f5525d0f45&rd=3D1c08f772a3e587c= 2&sd=3D1c08f772a3e58589&n=3D11699e4c243d856 Unsubscribe or https://qprdy-zg= pvh.maillist-manage.net/ua/commpref?od=3D3zbbfd3107516e2747240afb213f83dea9= 9f3114ab6bc11315f109b5f5525d0f45&rd=3D1c08f772a3e587c2&sd=3D1c08f772a3e5858= 9&n=3D11699e4c243d856 Update your preferences ------=_Part_2334346_1299262999.1733506881901 Content-Type: text/html;charset="UTF-8" Content-Transfer-Encoding: quoted-printable Domestic mills are itching to raise their prices Is the demand strong enough to enable a price hike in De= cember?
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StaalX Newsletter, December 6, 2024  (Scroll down for Steelorbis news)=

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Updates = From This Week 

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= There is a lot of enthusiasm for 2025 in the construct= ion sector. Donald Trump has won the US elections, and a lot of regula= tions and red tape should be eliminated to clear the way for a robust = commercial and residential construction. The US economy is doing well = and is expected to switch to a higher gear under the new president's admini= stration. But the long awaited robust steel consumption remains t= o be elusive.  


New tr= ade barriers against foreign steel are also inevitable. Already, = steel makers are asking for more protection from the upcoming Trump adminis= tration on top of countless antidumping, countervailing, anti-circumvention= , Section 232 and Section 301 duties and tariffs. Despite all these pr= otections that are already in place, some US steel mills are still struggli= ng to make money.  


For ex= ample, Liberty Steel in Peoria has now temporarily shut down both their ste= el making and wire production despite all the protections they have from fo= reign competition. They are saying they will be back sometime in Q1 20= 25, but most low carbon rod buyers are questioning if that's really going t= o happen and now have to switch to their Plan B of running their wire plant= s with some Q1 imports from Egypt, Vietnam and Malaysia.  =


Steelm= akers say that only 20% of the imports are taxed with tariffs but in case o= f low carbon wire rod and rebar, this percentage is almost 90%. Only s= ome selective imports of long products made with Ukrainian billets are tari= ff free with a presidential proclamation. With Trump coming, the favor= able status of long products made with Ukrainian steel will also fall by th= e wayside. Trump has already threatened to put 25% tariffs on all Mexi= can and Canadian imports, which is coincidentally the exact rate of the Sec= tion 232 tariffs since 2018.  


For no= w, better demand and reduced foreign competition are supporting domestic pr= ices, which are trending slightly upward but remain relatively stable overa= ll. Unlike the rod mills that were able to push some price increases, rebar= mills were divided on a price increase. Nucor didn't follow last month's p= rice increase announcements by other mills, effectively throwing cold water= on the market. This month, they might find a stronger outlook to go f= or it. Right now it's a no-brainer to buy what one needs as there is a= lmost zero chance that the market will go down in Q1. 

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Steel Sourcing,= Made Simple


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StaalX takes the st= ress out of steel procurement. Competitive pricing, reliable logistics, and= nationwide reach—all in one place. 

Reach out to us today at trading@staalx.com to see how we can help you. Below i= s a recent shipment of specialty lead grade steel products that we dispatch= ed to our clients.

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StaalX exhibits at the World of Concrete 2025

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We look forward to meeting= you at our N2844 booth to = learn about your needs and how StaalX can help you= source competitively priced products when you need them. 

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Moreover, StaalX proudly sponsors SteelOrbis' Rebar & Wire Rod confere= nce on Monday, January 20, 2025. This is the only steel-focused event= scheduled alongside the World of Concrete — a can’t-miss netwo= rking opportunity for concrete reinforcing professionals. 

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We’re thrilled to announce that= our CEO, Murat Askin, will be moderating and speaking at the event, sharin= g valuable insights with attendees. 


Click the image below to learn more about the eve= nt and register!

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From our con= tent partner, SteelOrbis

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<= font style><= font style>US import rebar and wire rod pricing mixed even = as domestic supply tightens | Thursday, 05 December 2024 02= :02:03 (GMT+3), San Diego

US import rebar and wire rod pricing was mixed this week as de= mand continues to falter, even as domestic supply is expected to remain con= strained with a key wire, wire rod and rebar production plant now confirmed= to remain offline for the next several months. Insiders say the Liberty St= eel outage has allowed US suppliers more liberty to raise their prices, eve= n as few mills have yet to implement those price increases because of conti= nued competition from their competitors. 

Recent reports indica= te that Liberty Steel will shut its wire and wire rod mill at its Peoria, I= llinois plant on December 6, furloughing more than 260 employees at the wir= e rod mill, as well as another 280 workers at the wire mill, "Due to f= inancial troubles the company is facing," said Penny Wright, president= of the Independent Steel Workers' Alliance, the union that represents the = furloughed workers, in a report published in a December 2 local newspaper r= eport. 

"After evaluating the current steel market challen= ges, including the influx of lower-priced imports, we have made the difficu= lt decision to idle the Peoria Mill temporarily from December 6," Wrig= ht said. "The wire mill staff will be retained on furlough during this= period, and the organization plans to restart as the market improves, with= a projected restart date of early February." 

While this = week's report from the union president confirms many details previously rep= orted by SteelOrbis through market contact channels, uncertainty remains hi= gh whether the unit will restart anytime soon. 

"A lot of = people are speculating that the Liberty plant will never come back online b= ecause of the parent company's continued financial troubles," a long s= teel market insider remarked to SteelOrbis. "This situation with Liber= ty is causing a local shortage of wire rod and rebar which is causing impor= t prices to begin to climb. Who knows, maybe President Trump (next year) ca= n throw them a lifeline." 
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<= span>This week's market assessment d= iffers from that reported during the week of November 23, when prices on th= e week were mostly lower overall following an earlier weekly price bump as = insiders purchased supply ahead of the November 28 Thanksgiving Day holiday= . And, while domestic and import rebar and wire rod pricing thus far in the= fourth quarter remains in a fairly narrow and limited range, competition f= rom US domestic mills for market share versus imports is expected to remain= spirited, market insiders said. 

"Overall, people are sta= rting to get more interested in purchasing imports going into the first qua= rter," the long steel insider said. "Prices are trending up, and = while current demand still remains kind of soft, domestic mills are expecte= d to begin raising prices later in December."

In the week= ly import markets, US East Coast rebar on a loaded truck basis is discussed= at $36.50-37.50/cwt. ($730-750/nt or $805-827/mt), up from $36.00-36.50/cw= t. ($720-730/nt or $795-805/mt) seven days earlier. US Gulf Coast rebar on = a loaded truck basis was steady on the week at $35.75-36.75 cwt. ($715-735/= nt or $788-810/mt), insiders said. 
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I= mported wire rod mesh on a DDP loaded truck basis US Gulf is discussed stab= le following earlier weekly declines at $37.00/cwt. ($740/nt or $827/mt), w= hile import wire rod last traded at $36.50-37.50 cwt. ($730-750/nt or $805-= 827/mt), off slightly from $37.00-$38.00/cwt. ($740-760/nt or $816-838/mt) = reported one week ago. Competition from aggressive domestic suppliers conti= nues to limit new spot import transactions, insiders said. 

Despite a continued domestic wire rod shortfall, som= e importers say domestic long steel supply still remains a more attractive = option versus imports due to a continuation of aggressive domestic mill dis= counting programs, shorter lead times for local delivery, and reduced geopo= litical risk. They add that, owing to low domestic finished steel demand, r= ecent price increase announcements from steel producers CMC and Nucor as we= ll as more recent price increases from several Canadian mills, have could c= ontinue to have a limited impact on rebar and wire rod values in weekly spo= t markets. 

<= span>Import rebar pricing offe= rs from Egypt were reported less again on the week following earlier slight= increases, with most new offers noted on a delivered to customer basis at = $35.75/cwt. ($715/nt or $788/mt) off from $36.50/cwt. ($730/nt or $805/mt) = one week ago. 

Delivered rebar from M= exico vicinity Houston, Texas, on a loaded truck basis is discussed slightl= y lower again on the week at $35.75-37.75 cwt. ($715-755/nt or $788-832/mt)= , off from $36.00-$38.00/cwt. ($720-760/nt or $794-838/mt) a week earlier. = Import insiders remain hopeful that pricing from Mexico could move slightly= higher in the near term as a result of improved market sentiment following= the US presidential election and the addition of more tariffs on imported = steel. 

"Overseas supply remains= limited, while competition among domestic suppliers has made pricing chall= enging for imports," reports one Mexican long steel insider. "Thi= ngs could be changing soon, as scrap for December is trending sideways, whi= le the outlook for January is sideways to higher."

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US import long steel markets trade most= ly lower ahead of US Thanksgiving holiday | Thursday, 28 November 2024 01:10:33 (GMT+3), San = Diego

U= S import rebar and wire rod pricing was reported mostly lower in limited ne= w trade, ahead of this week's shortened Thanksgiving holiday work week, lon= g steel market insiders told SteelOrbis. 
<= br>
<= font face=3D"Arial, Helvetica">This week's assessment differs from that rep= orted during the week of November 18, when import long steel prices were re= ported mostly stable to up slightly as many market participants scrambled t= o secure most of their supply requirements well ahead of the US Thanksgivin= g holiday on November 28. 

And while prices on the week were mostly lower overall, reb= ar and wire rod pricing thus far in the fourth quarter remains in a fairly = narrow and limited range, as competition from US domestic mills for market = share versus imports remains spirited, market insiders said. 

"This week, we're s= eeing order entries have improved with the US election results helping to b= oost market confidence," said one US Gulf Coast long steel market insi= der to SteelOrbis. "Bringing in imports remains a challenge right now,= because overseas supply remains limited, and US mills remain quite competi= tive on their offers." 

In the weekly import rebar markets, US Gulf Coast rebar o= n a loaded truck basis is discussed slightly less at $35.75-36.75 cwt. ($71= 5-735/nt or $788-810/mt), versus $36.50-37.50/cwt. ($730-750/nt or $805-827= /mt) reported on a delivered to customer basis one week ago. On the US East= Coast, imported rebar traded at $36.00-36.50/nt ($720-730/nt or $795-805/m= t), off from $36.50-37.50/cwt. ($730-750/nt or $805-827/mt) reported on a d= elivered to customer basis seven days earlier. 

Owing to continued low domestic demand= for finished steel, generally stable to slightly lower pricing was also no= ted in the import wire rod and mesh markets, insiders said, even as US dome= stic wire rod supply will likely remain reduced through March 2025, as a re= sult of the ongoing Liberty Steel wire and wire rod plant outage. At last r= eport, the unit is expected to remain shut through March 3, 2025. Insiders = said the outage has allowed US suppliers more liberty to raise their prices= , though import values have yet to change very much because of competition = from domestic suppliers.

<= span>Imported wire rod mesh on a DDP loaded truck basis US Gulf is discusse= d slightly less at $37.00/cwt. ($740/nt or $827/mt), versus earlier week-ag= o trades that averaged $37.50/nt ($827/mt). Import wire rod last traded $37= .00-$38.00/cwt. ($740-760/nt or $816-838/mt), unchanged on the week with co= mpetition from domestic suppliers limiting new spot transactions, insiders = said. 
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Despite= the anticipated wire rod shortfall, many importers say domestic long steel= supply still remains a more attractive option versus imports due to a cont= inuation of aggressive domestic mill discounting programs, shorter lead tim= es for local delivery, and reduced geopolitical risk. They add that, owing = to low domestic finished steel demand, recent price increase announcements = from steel producers CMC and Nucor as well as more recent price increases f= rom several Canadian mills, have had little impact on rebar and wire rod va= lues in weekly spot markets. 

"Recent price increases from the mills just have not t= aken hold in the weekly markets," one US Gulf Coast steel importer tol= d SteelOrbis. "Some people are still looking for another price increas= e from Nucor, but others think it's unlikely to happen because of continued= low demand for finished steel." Nucor's most recent price increase of= $20/nt ($22/mt) on wire rod transactions was announced on November 12, wit= h existing price orders prior to the price increase price protected if ship= ped by November 30, Nucor said in a letter to its customers. 

Import rebar pricing offers= from Egypt were reported less on the week following slight increases this = past week, with most new trades noted on a delivered to customer basis at $= 36.50/cwt. ($730/nt or $805/mt). Insiders noted a continued lack of offers = from Algeria, owing to competitive domestic pricing, while import offers fr= om Turkey remain noncompetitive at $38/cwt. ($760/nt or $838/mt), market in= siders said. 

= Delivered rebar from Mexico vicinity Houston, Texas, on a loaded truck basi= s is discussed slightly down on the week at $36.00-$38.00/cwt. ($720-760/nt= or $794-838/mt), versus previous assessments one week earlier at $37.00-38= .00/nt ($740-760/nt or $816-838/mt). Insiders remain hopeful that pricing c= ould move slightly higher in the near term as a result of improved market s= entiment following the US presidential election and the addition of more ta= riffs on imported steel.

December US scrap markets now seen sideways to soft side= ways as domestic demand lags | Wednesday, 27 November 2024 20:56:49= (GMT+3), San Diego

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US scrap markets for December are = now seen sideways to soft sideways to November settled pricing, a bit weake= r than was heard seven days ago, as domestic mill demand for scrap is repor= ted low, despite continued reports of tight inventory levels at local colle= ction yards, market insiders told SteelOrbis this week. =

<= div>"Industrial inflows are sti= ll way off," said one Midwest scrap insider. "I am looking at sof= t-sideways with slow inflows offsetting slower mill demand for next month.&= quot;

Last week, th= e consensus among market insiders called for December scrap to settle sidew= ays to November, based on reports of improved market sentiment following th= e November 5 US presidential election, still low reported inventories at sc= rap yards, and forecasts for the first blast of cold weather and snow forec= ast to impact scrap markets the US Midwest and Northeast regions. 

"Any hope of side= ways right now would be great," said another Midwest scrap insider, co= mmenting on the weekly change from previous the December scrap outlook. &qu= ot;The markets have been wishy-washy since the week before last. Cash is ki= ng right now, and order books (at mills) remain soft, and the only redeemin= g thing is scrap (in-flows) may be less than demand." 

Scrap insiders caution that f= ast approaching winter storms spreading across the US Northeast and upper M= idwest could cause price spikes in the US Ohio Valley and potentially the U= S Northeast, given low inventory, even as demand for finished steel from th= e US auto and manufacturing sectors remains unremarkable thus far in the fo= urth quarter, and overseas scrap prices remain depressed. Snowfall and cold= er weather usually reduce inflows of scrap into collection yards, they said= . 

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"Bad w= eather is supposed to be coming (again) this way, so old man winter might h= ave the last right of say on the market," the Midwest scrap insider sa= id. "It has happened before where scrap prices spike as a result of co= ld weather and snow."

Other= scrap insiders already have written off December as a potentially higher s= crap month, hoping higher pricing for January and February scrap will impro= ve cash flows for still struggling scrap businesses. 

"If mills take scrap down (for= December), it will cut off a lot of (inflow), but yes, I am hearing sidewa= ys to soft sideways," he said. "Many suppliers do believe we will= see prices go up in January (and) February so hopefully, mills keep prices= steady to close out the year. Taking it down now doesn't do the market any= justice in my opinion on all fronts except make things much harder on ever= yone at this point." 

In the Ohio Valley, based on this week's sideways to soft side= ways December forecast settle, shredded scrap is seen at or below the Novem= ber settle of $385-390/gt ($391- 396/mt), while busheling grades are expect= ed at or below $390-415/gt ($396-422/mt). P&S grades are now seen at or low= er than the $376-386/gt ($382-392/mt) November settle, while HMS I/II 80:20= grades are seen at or below the $340/gt ($345/mt) on limited Midwest deman= d requirements for heavy melt steel, market insiders told SteelOrbis this w= eek. All Ohio Valley pricing is on a delivered to mill basis. <= /span>

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On the US East Coast, Dece= mber shredded grades are seen at or below the $370-380/gt ($376-386/mt) Nov= ember settle, while busheling grades are expected at or below the $400-$410= /gt ($406-$417/mt) November settle. On the P&S front, December is expected = at or below the $340-350/gt ($345-356/mt) November settle, while December H= MS 80:20 scrap is expected at or below the $341-351/gt ($346- 357/mt) Novem= ber settle, market insiders said. All US Northeast price references are on = a delivered to mill basis.

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Check out the most frequently asked questions about the ser= vice and products of StaalX. We are always here to chat with you in the cha= t boxes from the site or on the support telephone number below.
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