AK Steel announced that three of its employees were recognized by the Manufacturing Institute as 2018 STEP Ahead Award winners who exemplify leadership in Science, Technology, Engineering and Production. Lisa A. Vensel, AK Steel General Manager, Manufacturing Planning, and Joyce C. Niedringhaus, AK Steel Principal Research Engineer, were named 2018 STEP Ahead Honorees. Ayesha Satija, […]
Construction costs climbed in March on a wide range of building materials, according to an analysis of Labor Department data by the Associated General Contractors of America. The producer price index for input goods to the construction industry rose at its steepest year-over-year rate since 2011. The goods index climbed 0.8 percent in March alone […]
Bay State Wind, a 50-50 partnership between offshore wind company Orsted and transmission builder Eversource, will partner with international steel pipe producer EEW to manufacture components for offshore wind projects at a new facility to be built in Massachusetts. EEW will collaborate with U.S.-based Gulf Island Fabrication, a fabricator of offshore and onshore steel structures […]
Cleveland Cliffs says it will exit its Australian iron ore operations by June 30, 2018. The company said in an April 6 SEC filing that increasingly discounted prices for lower-iron-content ore, the quality of the remaining iron ore reserves at APIO, and the lack of a legitimate offer from a qualified buyer, were factors in […]
President Xi Jinping announced today that China will significantly open access to its economy including lowering import tariffs on automobiles and recognizing and enforcing intellectual property rights. In a speech at the Boao Forum for Asia Annual Conference, Xi promoted his country as a leader in the global free market as the Trump administration threatened […]
Cleveland Cliffs says it will exit its Australian iron ore operations by June 30, 2018. The company said in an April 6 SEC filing that increasingly discounted prices for lower-iron-content ore, the quality of the remaining iron ore reserves at APIO, and the lack of a legitimate offer from a qualified buyer, were factors in […]
Commerce announced an affirmative final decision in the antidumping investigation concerning imports of cold-drawn mechanical tubing from China, Germany, India, Italy, Korea, and Switzerland. In addition, Commerce found that “critical circumstances” exist with respect to Dalmine S.p.A. and Metalfer S.p.A., but not with respect to all other producers/exporters in Italy; Sang Shin Ind. Co., Ltd., […]
Cleveland Cliffs broke ground on its new $700 million hot-briquetted iron facility in Toledo, Ohio, on Thursday. “Today we are launching a new era for the iron and steel industry in the United States,” said CEO Lourenco Goncalves. “For several decades, Cleveland-Cliffs has been supplying the American steelmakers in the Great Lakes with customized pellets […]
Construction employment increased by 228,000 jobs, or 3.3 percent over the past 12 months, according to an analysis of new government data by the Associated General Contractors of America. Construction employment totaled 7,150,000 in March, a dip of 15,000 for the month attributed to weather-related conditions. The unemployment rate for the industry fell to 7.4 […]
The Dodge Momentum Index, which forecasts nonresidential construction, climbed 6.1 percent in March, registering 155.0. The commercial component led March’s gain with a 9.6 percent increase—erasing February’s 5.1 percent decline. Activity in the institutional sector was milder, gaining 1.6 percent, following an 8.1 percent increase in February. Wrote Dodge Data & Analytics: “During the first […]
A lot is going on in shipping markets as uncertainty regarding the U.S. trade situation takes hold. Tariffs are expected to affect import volumes at coastal and inland ports. Truck availability continues to be an issue with the flatbed load-to-truck ratio soaring past 100 last week and prices on the increase. Barges are frustrated by […]
Orders for heavy-duty trucks are at their highest level since 2000, according to industry research firm FTR Transportation. Orders for the heavy-weight Class 8 trucks increased 98.4 percent year over year to 133,900 vehicles during the first quarter of 2018. Increased demand caused FTR to increase its forecast for 2018 North American Class 8 truck […]
Ryerson Holding Corp. announced the acquisition of Fanello Industries, a privately owned metal service company located in Lavonia, Ga. Fanello Industries provides blanking, stamping, laser cutting, bending, and machining metal solutions to a diverse group of industries in the southeastern U.S. The company employs 150 and has annual revenue of approximately $20 million. “Fanello Industries […]
Ryerson Holding Corp. announced the acquisition of Fanello Industries, a privately owned metal service company located in Lavonia, Ga. Fanello Industries provides blanking, stamping, laser cutting, bending, and machining metal solutions to a diverse group of industries in the southeastern U.S. The company employs 150 and has annual revenue of approximately $20 million. {loadposition reserved_message} […]
The antidumping investigation by Commerce into the imports of tool chests and cabinets from China and Vietnam moved closer to a conclusion on Wednesday. Commerce announced its affirmative final determination, calculating a dumping rate of 97.11 percent for the mandatory respondent Tongrun Single Entity. All other producers/exporters in China that are eligible for a separate […]
Construction employment increased in 257 out of 358 metro areas between February 2017 and February 2018, declined in 50 and stagnated in 51, according to a new analysis of federal employment data released by the Associated General Contractors of America. “Growing private-sector demand for construction services is prompting construction firms to hire more people to […]
Ryerson Holding Co., a processor and distributor of industrial metals, said in earnings guidance on Wednesday that tons sold and average selling prices are expected to be higher in the first quarter. Sales revenue is anticipated in the range of $930-$950 million compared to $811 million in the fourth quarter and $815 million in Q1 […]
A de facto round eight of NAFTA negotiations is about to begin in Washington, D.C., despite the U.S. Trade Representative deciding not to host an official eighth round. Instead, a “ministerial meeting” between Trade Representative Robert Lighthizer, Canadian Foreign Affairs Minister Chrystia Freeland and Mexican Economy Secretary Ildefonso Guajardo will be held along with discussions […]
Automakers reported strong sales in March after a weak performance in February. Industry sales rose to 1.647 million units from 1.548 million last year, according to WardsAuto. The seasonally adjusted annual rate was 17.4 million, surging over last year’s rate of 16.7 million. “Consumers are keeping the U.S. economy growing and auto sales very healthy,” […]
Global manufacturing growth in March slowed to its lowest level since October 2017. The J.P. Morgan Global Manufacturing PMI posted 53.4, down from 54.1 in February. Rates of expansion fell in the consumer and intermediate goods sectors, while the investment goods PMI rose to its highest level so far this year. Manufacturing growth eased in […]
Brazil is one of seven countries granted a temporary retrieve from Section 232 tariffs on steel and aluminum. If the 25 percent tariff is imposed on the Brazilian steel industry, it would impact 13 percent of the nation’s steel exports and lead to losses estimated at $350 million annually, according to a new study by […]
Manufacturing activity expanded in March, though at a slower rate than February, reports the Institute for Supply Management. ISM’s March PMI registered 59.3 percent, down from 60.8 percent in the February survey of corporate purchasing managers. Any reading above 50 indicates growth. New orders continued to expand in March, although slowing 2.3 percentage points from […]
JSW Steel made another move to expand its U.S. operations by buying the Acero Junction sheet mill in Mingo Junction, Ohio. The $80.85 million purchase was finalized on Wednesday with JSM International, Acero Junction Holding Inc. and Acero Junction Inc. and is expected to close within 60 days. JSW, the India-based steelmaker, will have 100 […]
The Chicago Business Barometer dropped to a one-year low in March. The indicator of U.S. economic activity slid 4.5 points to register 57.4. While a reading above 50 still indicates growth, three of the five components of the barometer declined. The production index was at its lowest level since October, and the new orders index […]
The Georgia Ports Authority broke ground on the $126.7 million Mason Mega Rail Terminal on Monday. The new terminal will increase the Port of Savannah’s rail lift capacity to 1 million containers per year. “Today is a great day for Georgia and the nation,” said Georgia Gov. Nathan Deal. “Not only will this new intermodal […]
Recognizing the current sensitivity of trade relations with the Trump administration, Canada is taking extra precautions to ensure there is no circumvention of U.S. tariffs through the Canadian borders. The Canada Border Services Agency will be empowered to identify businesses that are attempting to dodge duties by shipping cheap steel to Canada. Agents will have […]
The U.S. and South Korea have reached an agreement on amendments to the KORUS agreement. In return for exemption from Section 232 tariffs, Korea will reduce its steel exports to the U.S. by 30 percent to 2.68 million tons annually. In addition, Korea agreed to increase automotive imports from the U.S. to 50,000 vehicles per […]
Monthly steel imports plummeted more than 18 percent to 2.36 million net tons in February, according to the American Institute for International Steel, which represents foreign steel producers. The decline continued a downward trend, with February’s imports more than 13 percent below February 2017 shipments. Imports from Canada totaled 499,000 net tons, 10.5 percent less than […]
JSW Steel announced it will invest $500 million in its U.S. plate and pipe operations. The Baytown, Texas, facility will receive $150 million in upgrades and the rest will fund a new hot-end facility to make steel. Texas Governor Gregg Abbott signed an agreement with the company to provide a grant of $3.4 million. The […]
U.S. Trade Representative Robert Lighthizer wants to wind the NAFTA negotiations up by May 1, the day the temporary tariff exclusions expire for Canada and Mexico. Sources told Inside U.S. Trade that Lighthizer informed his NAFTA counterparts he wants to announce an agreement by March 31 and have the legal review completed by the beginning […]