We thought now would be a good time to revisit each of the antidumping and countervailing duty trade suits to report exactly where each one stands at this time. We are reaching the point where most will be through the entire process with the last step being the ITC (International Trade Commission) final determination. As […]
We thought now would be a good time to revisit each of the antidumping (AD) and countervailing duty trade suits associated with flat rolled steel or plate to report exactly where each one stands at this time. We are reaching the point where most will be through the entire process with the last step being […]
A.M. Castle & Co., a specialty metals distributor, announced that it will sell its 50 percent joint venture ownership in Kreher Steel Business to partner Duferco. Duferco will become the 100 percent owner of Kreher in exchange for a purchase price of approximately $31.6 million. The transaction is expected to close August 22, 2016. The […]
The Dodge Momentum Index, an indicator of nonresidential construction planning, edged ahead 0.5 percent in July to 134.7 after a revision in June to 134.1. The modest increase follows a surge of 10.9 percent the previous month and continues a fourth consecutive month of increases. Planning for institutional construction increased 0.7 percent in July and […]
The US International Trade Commission voted Friday to reverse the suspension of the Section 337 investigation into the imports of carbon and alloy steel products from China. The investigation was initiated on June 2, 2016 following a complaint filed by US Steel Corp alleging price fixing, theft of trade secrets and false designation of origin […]
The U.S. International Trade Commission (USITC) has voted to expedite its five-year (“sunset”) review concerning the antidumping duty order on hot-rolled flat-rolled carbon-quality steel products from Russia. As a result of the vote, the Commission will conduct an expedited review to determine whether revocation of the order would be likely to lead to continuation or […]
The Department of Commerce is initiating a new series of reports that detail steel trade flows around the world. The reports will provide a summary of steel activity in 20 countries that will enhance market intelligence for U.S. businesses. The reports will serve as the basis for a new Global Steel Trade Monitor to be fully implemented […]
NLMK USA flat steel product sales grew by 11 percent in second quarter 2016. Sales for the first half of 2016 were up 9 percent to 1 million tonnes (1.2 million net tons). One hundred percent of NLMK USA products are sold domestically to the processing, pipe, and automotive industries. North American sales for second […]
The European Commission issued on July 29, 2016 final duties on the import of cold rolled flat steel products originating from China and Russia. The investigation was initiated on May 14, 2015 following a complaint by the European Steel Association (Eurofer) that dumping of CRC from Russia and China resulted in injury to the EU […]
Auto sale volume for July was mixed, with the largest manufacturers slipping in volume year-over-year and most of the smaller ones gaining by single digit percent but still below analyst estimates. FCA US picked up just 0.3 percent over July 2015, while GM sales dipped 1.9 percent, Ford dropped 3 percent, and Toyota sales decreased […]
Olympic Steel announced net income of $3.6 million in the second quarter 2016, up substantially from the $22.3 million loss in Q2 2015. Consolidated net sales for the quarter were $273.6 million. Second quarter shipments of carbon flat products totaled 272,000 tons, up 2 percent from first quarter, and 2 percent below Q2 2015. Net […]
Vallourec, French-based global pipe manufacturer, is expecting challenging market conditions for the oil and gas industry for the remainder of 2016. CEO Phillipe Crouzet said in the company’s second quarter earnings report that the oil and gas market will continue to be “significantly impacted by low demand and intense pricing.” He offered some optimism for […]
Manufacturing activity expanded in July for the fifth consecutive month, while the overall economy grew for the 85th consecutive month, according to supply executives surveyed in the July ISM Report on Business. The PMI registered 52.6 in July, down 0.6 percentage points from June and 2.2 percent above the 12 month average of 50.4. New […]
Global manufacturing began the second half of 2016 on a positive note, according to the JPMorgan Global Manufacturing PMI, compiled by Markit. The rate of growth for manufacturing rose at a faster rate between June and July on all of the indices that make up the composite PMI. At 51.0 in July, the PMI was […]
Union Partners LLC, a hands-on full service investment company, has acquired Berg Steel Corp., effective Aug. 1, 2016. There will be no interruption to service for customers of the Royal Oak, MI steel service center. Union Partners portfolio includes Mapes & Sprowl Steel LLC, Chicago Steel Holdings LLC, JIT Steel Services LLC, JIT Steel Transport, […]
ArcelorMittal posted net income of $1.1 billion second quarter 2016 compared to a net loss of $400 million in first quarter. Second quarter EBITDA nearly doubled from first quarter due to higher steel selling prices and volumes. Crude steel production was 13.1 million tonnes with shipments of 22.1 million tonnes. Sales increased to $14.7 billion […]
The Chicago Business Barometer lost one point in July to register 55.8 after a year and a half high of 56.8 in June, according to MNI Indicators. New orders fell 3.9 points to 59.3 but kept most of June’s gains. Order backlogs, at a high last month, remained above the 50 neutral mark. Inventories grew […]
US Steel narrowed its losses in second quarter, reporting a net loss of $46 million compared to a loss of $340 million in first quarter, and $261 million in Q2 2016. Net sales for the company totaled $2.58 billion. Earnings for the flat rolled and US Steel Europe segments returned to positive numbers at $6 […]
California Steel Industries, Inc. (CSI) announced that Marcelo Botelho will be the new president and CEO of CSI, effective August 1, following the retirement of Toshiyuki Tamai. Botelho most recently served as Controller Global Director at Vale S.A. His background also includes positions in the utility, aerospace, and aluminum industries in Brazil. Tamai will retire […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located in the United […]
US Steel Kosice, located in Slovakia, is attracting attention from Chinese, Russian and South Korean investors according to a report by BNE Intellinews. The steelworks is Slovakia’s biggest employer in an area of high unemployment. Local media outlet SME said analysts are suggesting the mill may be taken over by South Korean steel mill POSCO […]
Durable goods orders fell sharply in June to $9.3 billion or a seasonally adjusted 4.0 percent. Orders were down for the second month with transportation equipment leading the decrease. May’s estimate was revised downward to 2.8 percent. Demand was weaker in June for civilian aircraft and defense, which fell 58.8 percent, and 20.7 percent, respectively. […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located in the United […]
China is fighting back on trade restrictions imposed on export of its steel products. On July 22, Baosteel requested the U.S. International Trade Commission to uphold the suspension of the 337 investigation brought by US Steel to block all Chinese carbon and allow steel products from the US market. Baosteel accused US Steel of trying […]
AK Steel reported net income of $17.3 million for second quarter 2016 compared to a net loss of $64.0 million a year ago. Net sales were 1.49 billion a decrease from $1.69 billion in in Q2 2015 as a result of lower automotive contract pricing as well as a decrease in shipments. Shipments totaled 1,555,500 […]
ArcelorMittal North America will be led by a new chief executive officer, Robrecht Himpe, effective July 1, 2016. Himpe will continue to serve as executive vice president of ArcelorMittal and CEO of AM/NS Calvert. He will be based in Calvert, Alabama and provide leadership for both organizations. “ArcelorMittal North American organization will continue to focus […]
Sales of new U.S. single-family homes jumped 3.5 percent to a seasonally adjusted annual rate of 592,000 from a revised May total of 572,000, said the Commerce Department on Tuesday. The increase exceeded analyst expectations for a rate of 560,000. Sales for the first half of 2016 were 10.1 percent higher than the same period […]
Home prices continued to rise in May but at a slower pace. The S&P CoreLogic Case-Shiller Home Price Indices for May shows the 20-city Composite posted a year-over-year gain of 5.2 percent in April, down from 5.4 percent in April. “Home prices continue to appreciate across the country,” says David M. Blitzer, Managing Director and […]
Each month Steel Market Update looks at shipping conditions on the seas, rivers, rails and highways. July freight volumes were down somewhat in the first half of July for cargo moved by rail and truck. Barges on America’s rivers are seeing an uptick in rates due to several lock closures. Seaborne shipping is seeing a […]
SSAB Americas results in improve in second quarter due to higher volumes and prices. Sales were SEK 2.8 billion ($323 million) compared to SEK 2.4 billion ($277 million) in first quarter. Shipments improved 11 percent to 526,000 tonnes from 475,000 tonnes in Q1. The company reports good demand from steel service centers and the wind […]