In response to the recent hike in the cost of graphite electrodes, AK Steel Holding Corp. will implement an electrode surcharge for all stainless product shipments effective Oct 29. The surcharge for November will be $13.20 per ton. The amount will be same for all stainless grades produced by the company. The monthly electrode surcharge […]
No one who has ever toured a steel mill will ever forget it. The sight of the molten metal, and the heat that hits you in the face even from a safe distance away, is both frightening and fascinating. Forty mostly young executives experienced steelmaking firsthand as students in Steel Market Update’s latest Steel 101 […]
ArcelorMittal reports that a portion of its mill in Calvert, Ala., suffered minor damage over the weekend due to a small, localized tornado related to Hurricane Nate. The company halted production on Friday night for safety reasons, but resumed operations Sunday afternoon. No injuries were reported, and there was no damage to production lines or […]
ArcelorMittal reports that a portion of its mill in Calvert, Ala., suffered minor damage over the weekend due to a small, localized tornado related to Hurricane Nate. The company halted production on Friday night for safety reasons, but resumed operations Sunday afternoon. No injuries were reported, and there was no damage to production lines or […]
Steel buyers and sellers appear evenly split on whether the renegotiation of NAFTA will benefit their companies. Responses to Steel Market Update’s market trends questionnaire, emailed to several hundred steel executives earlier this week, suggests that most companies don’t really know if the new NAFTA being pursued by the Trump administration will be good for […]
Negotiations in the steel business can often become contentious as both parties seek to win the best price and terms. Some experts say ethical negotiating is not only the right thing to do, it’s also more likely to achieve the desired outcome. As academics Reitz, Wall & Love wrote, unethical bargaining can reap one-time benefits, […]
Buyers and sellers of flat rolled steel continue to be optimistic about their company’s ability to be successful in the current market environment as well as three to six months into the future. We are seeing signs of what has become a normal mild tapering of enthusiasm as we enter the fourth quarter of the […]
Flat rolled steel lead times have shortened up slightly since mid-September, according to the service centers and manufacturers who responded to Steel Market Update’s market trends questionnaire this week. Lead time, which is the amount of time it takes for the domestic steel mills to produce a new order from the time the order was […]
Steel mills are even more open to price discussions than they were a couple weeks ago, which may be a reflection of weakening prices, say steel buyers who replied to Steel Market Update’s latest flat rolled market trends questionnaire. More than 100 executives responded to this week’s questionnaire. Steel buyers’ perceptions of their suppliers’ attitudes […]
U.S. raw steel production totaled 1,706,000 net tons in the week ended Sept. 30, a 7.2 percent increase from the same period last year, but down 0.8 percent from the prior week. The mill capability utilization rate for the Sept. 30 week averaged 73.2 percent, up substantially from the 68.0 percent at the same time […]
In its comments on President Trump’s “Buy America” executive order, California Steel Industries (CSI) makes a convincing case for steel companies that process slabs not “melted and poured” in the United States. In April, President Trump instructed all federal agencies to assess their compliance with Buy America/Buy American policies (which have an important distinction, as […]
The ferrous scrap market is softening and SMU’s sources expect prices to drop by $10 to $20 per gross ton in October. Domestic mills are beginning to cancel September orders that have not been completed (delivered) by the end of the month. This is a sure sign the mills believe ferrous scrap negotiations for October […]
Hurricanes Harvey and Irma were devastating for the many Americans still struggling to recover from the damage. But for the scrap metal market, contrary to common belief, the storms will be a mere blip. “Everyone’s immediate reaction to Harvey is, ‘Oh, there will be so much scrap coming out of Houston, prices will drop.’ The […]
Consumer confidence took a hit in the storm-affected regions of the South, but overall remains at high levels, which is positive news for the U.S. economy. “Consumer confidence decreased slightly in September after a marginal improvement in August,” said Lynn Franco, director of economic indicators at The Conference Board, an independent business research association based […]
Consumer confidence took a hit in the storm-affected regions of the South, but overall remains at high levels, which is positive news for the U.S. economy. “Consumer confidence decreased slightly in September after a marginal improvement in August,” said Lynn Franco, director of economic indicators at The Conference Board, an independent business research association based […]
U.S. raw steel production totaled 1,720,000 net tons in the week ending Sept. 23, an 8.1 percent increase from the same period last year, but down 1.4 percent from the prior week. The mill capability utilization rate for the week averaged 73.8 percent, down slightly from 74.9 percent the prior week, but up substantially from the 68.0 […]
Pictures of countless cars and trucks submerged in Houston floodwaters and homes shattered by high winds in the Southeast have the worth of a thousand words in describing the destruction from Hurricanes Harvey and Irma. What they say about post-storm conditions in the ferrous scrap market is less clear. For those who assume thousands of […]
Last Friday, the U.S. International Trade Commission ruled that the domestic solar industry has been seriously injured by imports of cheap, foreign-made solar cells. The case was brought by solar panel makers Suniva and SolarWorld under Section 201 of the Trade Act of 1974. The ITC now has until Nov. 13 to make recommendations to […]
Congress and the Trump administration are likely to act on both tax reform and infrastructure spending before the end of 2018, predict the majority of forecasters polled by the National Association of Business Economics. NABE conducted its September survey of 47 professional forecasters from Aug. 24 to Sept. 7 (during Hurricane Harvey and before Hurricane […]
Nucor Corp. executives urged the U.S. Trade Representative and Department of Commerce to vigorously oppose any efforts to weaken existing Buy America/n requirements, in their comments on President Trump’s April executive order. The steel company also urged the U.S. government to take additional action to stimulate demand for domestic steel in U.S. and foreign government […]
Steel buyers are evenly split on how their businesses will be affected by the cleanup from Hurricanes Harvey and Irma. About half (48 percent) of respondents to Steel Market Update’s latest steel market trends questionnaire expect the hurricanes and flooding in Texas and Florida to have a significant impact on their businesses and steel demand […]
Both Current and Future Sentiment showed a slight decline as a single data point in the latest SMU Steel Buyers Sentiment Index, based on data gathered in mid-September. The index measures how buyers and sellers of flat rolled steel feel about their company’s ability to be successful both in the current market environment, as well […]
Flat rolled steel lead times have been relatively flat going back to early May 2017, according to the service centers and manufacturing companies who participated in the Steel Market Update (SMU) flat rolled market trends survey this week. Lead time, which is the amount of time it takes for the domestic steel mills to produce […]
Mills are even more open to price discussions than they were a couple weeks ago, report steel buyers and sellers who replied to Steel Market Update’s latest flat rolled market trends questionnaire. More than 100 executives responded to this week’s questionnaire. Steel buyers’ perceptions of their suppliers’ attitudes offer a snapshot of how steel mills […]
Are “Buy American” policies good for the U.S. economy and the U.S. steel industry? President Trump issued an executive order in April instructing all federal agencies to conduct comprehensive assessments aimed at cracking down on weak enforcement of Buy American policies, and targeting the abusive use of waivers and exceptions that undermine Buy American laws. […]
The latest data on automotive production offers potential ammo to U.S. trade officials as they work to renegotiate the North American Free Trade Agreement. Assembly of both cars and light trucks is shifting from the U.S. to Mexico, with Canada largely on the sidelines. Total light vehicle production in the U.S. and Canada has declined […]
Despite recent price increase announcements from major domestic mills and imports that are trending lower, wholesalers and distributors who sell galvanized steel products to the HVAC market don’t expect much change in lead times or pricing until there’s some resolution to the Section 232 and Vietnam circumvention trade actions pending in Washington. In the monthly […]
U.S. raw steel production totaled 1,745,000 net tons in the week ending Sept. 16, up 0.7 percent from the prior week and an increase of 9.7 percent from the same period last year. The mill capability utilization rate for the Sept. 16 week was 74.9 percent, up significantly from 68.0 percent at the same time […]
Weakening federal vehicle fuel economy standards would not relieve the auto industry of burdensome regulation, but rather would hurt job growth, as well as the environment, maintains the BlueGreen Alliance (BGA), a coalition of American labor unions and environmental organizations whose mission is to “work together to solve today’s environmental challenges in ways that create […]
Editor’s note: Mario Briccetti of Briccetti & Associates, a supply chain consulting firm, offers the following commentary: I had the opportunity to interview the CEO of Big River Steel, David Stickler, at Steel Market Update’s Steel Summit Conference in August. Much of the conference was focused on trade issues, but Mr. Stickler’s remarks struck me […]