ArcelorMittal’s three plate facilities in the United States—Burns Harbor in Burns Harbor, Ind., and Coatesville and Conshohocken in Pennsylvania—have each achieved DNV-GL certification, which will allow the company to expand business opportunities domestically and internationally for its plate products. DNV-GL (Germanischer Lloyd) is a classification society that sets rules and standards for industries, especially maritime-related […]
Senior steel executives representing most of the nation’s flat rolled and long product manufacturers appealed directly to Donald Trump on Wednesday urging action on the Section 232 steel imports case. The letter from 25 steel and steel-related companies asked the president to take “broad and decisive action to ensure the ability of the domestic steel […]
The first round of talks to upgrade the North American Free Trade Agreement concluded on Sunday, with officials from the U.S., Canada and Mexico pledging to continue negotiations at a rapid pace, possibly concluding by year’s end. President Trump inserted some added drama into the situation with comments at a campaign-style rally in Arizona on […]
Many Americans see the North American Free Trade Agreement (NAFTA) as a contributing factor to the growth of the U.S. economy over the past 20 years and believe the focus of the NAFTA negotiations should be on modernizing the agreement, not withdrawing from it, according to a survey of 2,000 U.S. adults commissioned by Livingston […]
How can domestic mills expect to increase prices when their lead times are so short and foreign steel is still so plentiful? In the monthly steel conference call hosted today by the Heating, Air-conditioning, and Refrigeration Distributors International, HARDI members commented on the contradictions in mill behavior that have left them confused and concerned about […]
Domestic raw steel production totaled 1,763,000 net tons in the week ending Aug. 19, a 6.5 percent increase from the same period last year, but a 1 percent decline from the prior week, reports the American Iron and Steel Institute in Washington. The mill capability utilization rate for the week averaged 75.6 percent, up significantly […]
No one was surprised when major U.S. steel mills announced a $30 per ton price hike on flat rolled and plate this week. The price hikes were widely expected. But a majority (58 percent) of respondents to SMU’s latest flat roll market trends questionnaire will be surprised if the higher prices stick. Some predict the […]
Despite the ongoing delay in Washington, six of 10 respondents to SMU’s latest flat roll market trends questionnaire believe the Trump administration will eventually put new restrictions on foreign steel imports based on Section 232 national security concerns. Even more, 74 percent, believe the slowdown in the Section 232 decision is opening the door to […]
SSAB Americas announced a $40 per ton price increase on non-contract plate orders, effective Oct. 1. The increase will apply to as-rolled mill plate, cut-to-length plate >72”, hot rolled >72”, as well as normalized and quenched & tempered plate. “SSAB continues to monitor market conditions in order to better realize the value our products bring […]
Thirty-six states and the District of Columbia added construction jobs in the year between July 2016 and July 2017, yet only half the states added construction jobs in the month between June and July of this year amid declining public-sector investments in infrastructure and other construction projects, reports the Associated General Contractors of America in […]
Steel Market Update (SMU) is releasing our SMU Steel Buyers Sentiment Index for mid-August. 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 as three to six months into the future. Overall, our Indexes remains optimistic. However, […]
Steel buyers and sellers reported mills slightly more open to steel price discussions, based on responses this week from Steel Market Update’s flat rolled market trends questionnaire, possibly reflecting the seasonal slowdown in sales activity. What makes the results collected on mills willingness to negotiate pricing especially interesting is the domestic steel mills began announcing […]
U.S. Trade Representative Robert Lighthizer offered a stern assessment of the United States’ goals for an updated trade agreement with Canada and Mexico as talks began Wednesday to renegotiate NAFTA. Canadian Foreign Affairs Minister Chrystia Freeland and Mexican Economy Minister Ildefonso Guajardo Villarreal joined Lighthizer in Washington for negotiations on the North American Free Trade […]
Nucor’s Plate Group announced a $30 price increase on Aug. 14, citing escalating raw material and input costs. Nucor will increase transaction prices on all new orders for carbon, alloy and heat-treated plate by $30 per ton, effective immediately. Plate distributors responding to SMU’s request for comment are generally supportive of Nucor’s move. “The plate […]
Trucks needed to haul steel and other materials are in short supply and availability is likely to get tighter later this year when drivers will be required to use electronic logging devices (ELDs) rather than hand-written logs to record their hours behind the wheel. The American Trucking Associations estimate that the new ELD requirement, which […]
Domestic raw steel production totaled 1,780,000 net tons in the week ending Aug. 12, up 1.0 percent from the previous week and a 7.6 percent increase from the same period in 2016. The mill capability utilization rate was 76.4 percent for the week, up from 70.8 percent the same time last year, reports the American […]
Sherwin Williams, a major supplier of paint and coatings to coil coaters and other industries, announced a price hike on Monday, citing the need to recoup the escalating costs of raw materials. The company notified its customers to expect a 5 percent increase on all shipments of PVDF and FEVE topcoats, a 7 percent increase […]
Trucking industry revenues hit $676.2 billion in 2016, nearly 80 percent of the nation’s total freight bill, reports the American Trucking Associations in the trade group’s just released “ATA American Trucking Trends 2017” report. Among the findings in this year’s edition: · Trucks moved 10.42 billion tons of freight last year, 70.6 percent of all […]
Nucor’s Plate Group announced a $30 price increase today due to escalating raw material and input costs. Nucor will increase transaction prices on all new orders for carbon, alloy and heat-treated plate by $30 per ton, effective immediately, the steelmaker said.
Like in the United States, steelmakers in the European Union are using their trade laws to fight back against steel imports that are unfairly subsidized by the governments in China and other countries. On Aug. 9, the European Union imposed provisional import duties of up to 28.5 percent on certain Chinese corrosion-resistant steels. The eight-month […]
Like in the United States, steelmakers in the European Union are using their trade laws to fight back against steel imports that are unfairly subsidized by the governments in China and other countries. On Aug. 9, the European Union imposed provisional import duties of up to 28.5 percent on certain Chinese corrosion-resistant steels. The eight-month […]
The Trump administration’s effort to renegotiate the North American Free Trade Agreement and secure “a better deal for America” begins this week with talks between Canada, Mexico and the United States. The opening round will be in Washington on Aug. 16-20. The second round will take place in Mexico City around Sept. 10. Canada will […]
Even though the Trump administration has postponed a decision on Section 232, the possibility of trade action that will further restrict steel imports is still influencing the market, according to comments from service centers, manufacturers and trading companies gathered in last week’s Steel Market Update Flat Roll Market Trends questionnaire. Two-thirds of all steel buyers […]
Houston-based Triple-S Steel Holdings has completed its acquisition of Arbor Metals, a Dallas service center specializing in slitting of narrow carbon, stainless and nickel alloy materials. The company, which will operate as part of the Triple-S specialty metals group, employs about 40 people under the leadership of Jack Matheson. “We are excited to welcome a […]
Steel Market Update received the following letter to the editor which was in response to comments made in a recent article by an un-named steel mill executive: I read your report “U.S. Steelmakers: We’re Not Protectionist” with interest, but also with a little bit of a smile. Since the mid-1960s, the U.S. steel industry has […]
Ferrous scrap prices are up about $20 per ton across the board on strong domestic demand and scrap export markets “that are on fire,” say SMU’s scrap sources. One scrap metal processor with locations across the country reports HMS at $300, shred at $315 and busheling at $390 per gross ton for August delivery. Export […]
Flat rolled steel buyers are fairly optimistic about their chances for success in the current market, though the various metrics Steel Market Update uses to gauge future demand are sending mixed signals. One likely cause is the uncertainty injected into the market by the Trump administration’s now-delayed Section 232 investigation. According to the latest SMU […]
Domestic raw steel production totaled 1,762,000 net tons for the week ending Aug. 5, down 0.4 percent from the previous week, but up 6.3 percent from the same week last year, reports the American Iron and Steel Institute in Washington. Mill capability utilization for the Aug. 5 week averaged 75.6 percent, a significant improvement from the […]
In their pursuit of free and fair trade, U.S. steelmakers are often called protectionist—a label they increasingly resent. Steel industry trade groups, including the American Iron and Steel Institute and the Steel Manufacturers Association, have urged the Trump administration to take a harder stance on steel imports. Trade action, including new tariffs or quotas under […]
In their pursuit of free and fair trade, U.S. steelmakers are often called protectionist—a label they increasingly resent. Steel industry trade groups, including the American Iron and Steel Institute and the Steel Manufacturers Association, have urged the Trump administration to take a harder stance on steel imports. Trade action, including new tariffs or quotas under […]