Keep pulling the thread on Sam.
US steel mills are currently holding contract customers to the minimum end of their agreed-upon tonnage ranges, preventing them from buying at maximum levels.
Steel for immediate purchase, known as spot tons, is almost completely unavailable in the US market at present.
After U.S. Steel restarted its Granite City furnace in late March, its production capacity was immediately sold out through the end of July.
US steel imports have declined by almost 25% year-to-date in the current year due to the effect of tariffs.
Diesel prices have increased by approximately 50% since the start of the Iran war.
US data center construction is expected to total approximately 80 million square feet this year.
Every 1 million square feet of data center construction requires approximately 14,000 tons of steel.
Based on construction forecasts, US data centers will require over 1 million tons of steel in 2026.
The United States is projected to produce approximately 90 million tons of steel this year.
Steel demand from data centers currently constitutes only about 1% to 1.5% of the total US steel market.
Recent weekly steel production in the US reached its highest tonnage level since March 2020.
Year-to-date steel production in the US has increased by almost 8%.