Latin America’s steel industry grapples with declining demand, rising imports
With climbing imports and falling consumption, the Latin American steel industry has had a challenging 2024, according to an Alacero report.
Steel News
Domestic HR, offshore prices decline
US hot-rolled (HR) coil prices slipped this week, while tags in offshore markets were also largely down. Thus, the price premium between stateside hot band and imports on a landed basis was relatively unchanged.
Hickey Metal Fabrication buys Ohio Laser
Hickey Metal Fabrication has acquired laser-based metal fabricator Ohio Laser.
Architecture billings flat in October after months of contraction
Architecture firms reported stable billings in October, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek. This follows 20 months of contracting business conditions.
Miami Valley Steel Service announces personnel changes
The Piqua, Ohio-based service center announced the retirement of its CFO and other personnel changes.
CRU: Trump tariffs could stimulate steel demand
Now that the dust has settled from the US election, as have the immediate reactions in the equity, bond, and commodity markets, this is a prime opportunity to look at how a second Trump presidency might affect the US steel market.
Steel sector waits on demand from infrastructure bill
So far, nearly $570 billion in funding has been announced for over 66,000 projects and awards.
Final Thoughts
One of the perhaps unintentional perks of being a trade journalist is the opportunity to travel and cover an array of industry conferences and events.
Some I’ve attended have been at fun locations, like Palm Springs and Tampa, Fla. Others have been in more practical locations, like SMU’s Steel Summit in Atlanta and American Iron and Steel Institute (AISI) and Steel Manufacturers Association (SMA) meetings in Washington, D.C.
SMU price ranges: Sheet slide over amid mill price increase rumors?
SMU’s flat-rolled steel prices were mixed this week with slight declines across most products and a modest increase in prices for cold-rolled coil.
Trump taps Lutnick to be Commerce Secretary
President-elect Donald Trump has named Wall Street veteran Howard Lutnick as the new US Secretary of Commerce.
Nippon won’t import slabs to US if U.S. Steel deal goes through
Nippon Steel has affirmed that if its $14.9-billion bid for U.S. Steel proves successful, the Japanese steelmaker will not import overseas-produced slabs to the US.
Housing starts moved lower again in October
US housing starts moved lower through October, declining for a second straight month after peaking in August, according to the latest data release from the US Census Bureau. Total housing starts stood at a seasonally adjusted annual rate (SAAR) of 1.31 million units in October, a 3.1% dip from September’s 1.35 million units. At the […]
AISI: Raw steel production falls to 5-week low
Domestic raw steel mill production slipped to a five-week low last week, according to the latest figures released by the American Iron and Steel Institute (AISI). Weekly production is now at the third-lowest level recorded this year.
Vale, Cyclone Metals enter MoU for iron ore project in Canada
Brazilian miner Vale SA has entered into a Memorandum of Understanding (MoU) with Australia-based Cyclone Metals Ltd. to develop the Iron Bear iron ore project in Eastern Canada.
Rebar import duties to continue for 5 more years
Import duties on rebar from a handful of countries will continue to be collected for at least another five years.
Nucor maintains HR price at $750/ton
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil was unchanged week on week (w/w) at $750 per short ton (st) on Monday, Nov. 18.
Final Thoughts
t this point in the game I think what we can say about Nippon Steel’s proposed buy of Pittsburgh-based U.S. Steel is that it will go through, it won’t go through, or the outcome will be something new and completely unexpected. Then again, I’m probably still missing a few options.
Leibowitz: Trump 2.0 signals Cold War 2.0 trade and China policies
China is one of the elephants in the room as the transition to Trump 2.0 continues. While the people and policies are still being formulated, it’s possible to detect a strategy for the new Trump administration. I think there are two imperative issues that the new administration needs to balance. The Trump strategy will, I believe, follow the following points.
First, trade is one of the issues that got President Trump elected in 2016 and 2024—it nearly got him elected in 2020, save for the pandemic. If President Trump had won in 2020, I might be writing chronicles about the end of his eight years in the White House now instead of projecting what the next Trump administration would accomplish or break. Oh, well—that’s life. Trade will necessarily be a key feature of relations with China for the next four years.
Commerce says Nippon dumped steel in US in 2022-23
Commerce determined a significant dumping margin for hot-rolled steel imports from Japan’s Nippon Steel.
US CR, import prices edge back down
The price spread between US-produced cold-rolled (CR) coil and offshore products slipped in the week ended Nov. 15, on a landed basis.
HRC vs. prime scrap spread flat in November
The price spread between hot-rolled coil (HRC) and prime scrap remained the same in November as both tags were at the levels seen a month earlier, according to SMU’s most recent pricing data.
North American auto assemblies reach 14-month high in October
North American auto assemblies rallied in October, rising 11.3% above September, reaching the best output year to date. Assemblies were also up 7% year on-year (y/y), according to LMC Automotive data.
US and Canadian rig counts slip: Baker Hughes
The number of active oil and gas rigs ticked lower in both the US and Canada last week, according to the latest data released from Baker Hughes.
November energy market update
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels. Trends in energy prices and rig counts are an advance indicator of demand for oil country tubular goods (OCTG), line pipe and other steel products.
CRU: Sheet prices hit bottom in Europe, pressure in other markets
This CRU analysis from discusses steel sheet prices, demand, and inventory levels around the globe this past week.
CRU: Aluminum news roundup
A look at this week’s aluminum news
New York state manufacturing activity ramps up to multi-year high
New York state’s manufacturing sector saw substantial recovery in November, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.
GM laying off ~1,000 workers globally, most in US: Report
General Motors is laying off ~1,000 workers globally, with most located in the US, according to a report Friday in Reuters.
US light-vehicle sales accelerate in October
According to data from the US Bureau of Economic Analysis, US light-vehicle (LV) sales accelerated to an unadjusted 1.33 million units in October, a rise of 1.7% from September and 10.6% from a year ago.
October service center shipments and inventories report
Flat rolled = 63.4 shipping days of supply Plate = 52.4 shipping days of supply Flat rolled shipments and inventories Flat-rolled steel supply at US service centers remains seasonally high. October inventories increased after edging lower in September – a dynamic driven largely by disappointing demand. October’s report reflects lower demand and stable lead times […]