The United Steelworkers union is calling for the United States to negotiate stronger NAFTA rules of origin. The union charges that the rules negotiated more than 25 years ago do not reflect current economic reality and sourcing patterns. Increased imported content from China and other nations has been detrimental to U.S. production in North America, […]
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 […]
The Producer Price Index of commodities increased by 3.8 percent in the 12 months through August 2017, according to data released Tuesday by the Bureau of Labor Statistics. The BLS released its series of producer price indexes (PPIs) for more than 10,000 goods and materials this week. The latest release reported results through August. For […]
The Producer Price Index of commodities increased by 3.1 percent for the 12 months ended in November, according to data released Thursday by the Bureau of Labor Statistics—the largest advance since the 12 months ending January 2012. On Thursday, the BLS released its series of producer price indexes (PPIs) for more than 10,000 goods and […]
The following article on the hot rolled coil (HRC) futures markets was written by David Feldstein. As the Flack Global Metals Director of Risk Management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
Reliance Steel & Aluminum Co., Los Angeles, reports that its operations in the Houston area suffered no material damage to facilities, equipment or inventories because of Hurricane Harvey. Many facilities were closed and unable to ship for most of last week due to the catastrophic flooding, but are now reopened and operational. Reliance operates 13 […]
Reliance Steel & Aluminum Co., Los Angeles, reports that its operations in the Houston area suffered no material damage to facilities, equipment or inventories because of Hurricane Harvey. Many facilities were closed and unable to ship for most of last week due to the catastrophic flooding, but are now reopened and operational. Reliance operates 13 […]
In this report, we examine the latest prices for iron ore, scrap, coking coal and zinc. To put the raw materials analysis into perspective, we begin with Figure 1, which shows the spread between Chicago #1 busheling and hot rolled coil ex works Indiana through Aug. 18, both in dollars/net ton. On this date, Aug. […]
Tomorrow, Monday, Aug. 28, the steel event of the year will kick off in Atlanta. With over 650 steel and manufacturing executives registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the Steel Market Update Steel Summit Conference. This is what the fuss […]
Researchers in Asia claim they have developed a new way to make steel that offers a high degree of strength without sacrificing ductility, creating a strong but formable material that could prove useful in the production of lighter, more fuel-efficient vehicles, among many other applications. Typically, making steel stronger decreases its formability. The Hong Kong-Beijing-Taiwan […]
Over the last few weeks, the price of zinc has risen to over $1.41 per pound on the London Metal Exchange, and I thought it was time for an update on a series of articles I’ve written on the actual metallic cost of coating steel with zinc. To do the calculation, I use a spreadsheet […]
The United States and Canadian leaders of the United Steelworkers released a joint statement on Wednesday advocating NAFTA rules-of-origin, strong labor and environmental rights. United Steelworkers International President Leo W. Gerard and Canadian National Director Ken Neumann urge strengthening regional rules-of-origin for autos, auto parts and manufactured products, including requirements for melting and pouring steel […]
The “woodie” automobile, popular in the 1940s and ’50s, may be on its way back, but in a seriously different mode. Japanese researchers are developing the latest challenge to automotive steel, a super-strength, lightweight product that uses wood as a raw material. Cellulose nanofiber, made from wood pulp, is mixed into plastics forming a product […]
The “woodie” automobile, popular in the 1940s and ’50s, may be on its way back, but in a seriously different mode. Japanese researchers are developing the latest challenge to automotive steel, a super-strength, lightweight product that uses wood as a raw material. Cellulose nanofiber, made from wood pulp, is mixed into plastics forming a product […]
The following article on the hot rolled coil (HRC) futures markets was written by David Feldstein. As the Flack Global Metals Director of Risk Management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
Ryerson Holding Corp. turned in a strong performance in Q2 despite conflicting business and industry conditions, said President and CEO Eddie Lehner. Margins took a hit as steel import levels rose and nickel and carbon hot rolled prices moved lower. “Ryerson saw some mix-shift impact to margins,” said Lehner, “as sheet and stainless related demand […]
Olympic Steel celebrated a particularly strong second quarter. Net sales jumped 30 percent year-over-year to $356.2 million on higher shipping volume and selling prices. Net income grew 35 percent for the quarter to $4.8 million. Carbon flat product sales increased 37 percent to $237 million from Q2 2016 sales of $173 million. Shipments increased 13 […]
In this report, updated July 28, we examine the latest prices for iron ore, scrap, coking coal and zinc. To put the raw materials analysis into perspective, we begin with Figure 1, which shows the spread between Chicago #1 busheling and hot rolled coil ex works Indiana through July 21, both in $/net ton. On […]
Bringing a different perspective to SMU’s Steel Summit Conference later this month will be Lisa Reisman, who will touch on the related topics of copper, zinc and aluminum. Reisman, co-founder and executive editor of MetalMiner, will make her third appearance as a speaker at SMU’s conference at 10:35 a.m. on Tuesday, Aug. 29, as part […]
On Monday, August 28, the steel event of the year will kick off in Atlanta. With less than four weeks to go and 575 steel and manufacturing executives already registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the Steel Market Update Steel […]
On Monday, Aug. 28, the steel event of the year will kick off in Atlanta. With four weeks to go and 560 steel and manufacturing executives already registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the 7th Steel Market Update (SMU) Steel […]
At a Section 232 briefing to the Ways & Means Committee on Thursday, Commerce Secretary Wilbur Ross acknowledged the complexity of initiating broad trade action against imports of steel and aluminum. A “voluntary” agreement to address steel overcapacity was suggested that would allow countries to negotiate a solution to overcapacity and the resulting import surges. […]
At a Section 232 briefing to the Ways & Means Committee on Thursday, Commerce Secretary Wilbur Ross acknowledged the complexity of initiating broad trade action against imports of steel and aluminum. A “voluntary” agreement to address steel overcapacity was suggested that would allow countries to negotiate a solution to overcapacity and the resulting import surges. […]
Kloeckner Metals Corp., Roswell, Ga., reported a solid second quarter due largely to more favorable steel pricing in the U.S. Asked about the status of the Section 232 investigation during the second-quarter earnings call, Kloeckner CEO Bill Partalis said it’s unclear if or when President Trump will act on possible new tariffs on steel imports. […]
Reliance Steel & Aluminum Co. is expecting flat up to a 3 percent increase in pricing in third quarter after experiencing pricing pressure in second quarter. Recent price increases in June and July have held, and Reliance expects demand to carry prices higher, whether or not Section 232 action is taken. “The absence of meaningful […]
It is much like a broken record playing 232, 232 over and over again. I read an article on World Trade Online this morning that quoted White House trade advisor Peter Navarro who said, “…the Trump administration’s trade moves over its first six months will pale in comparison to the ‘amazing’ steps it will take […]
Members of the House Ways & Means Committee will be briefed on the Section 232 steel investigation Thursday, July 27, according to Inside U.S. Trade. Commerce Secretary Wilbur Ross is expected to provide data on steel imports and the U.S. steel industry to the committee, similar to a briefing of the Senate Finance panel last […]
Kloeckner Metals is investing $11.3 million to expand its Greenville, S.C., operations. The expansion will add 50,000 square feet to the facility to house a new high-speed slitting line capable of processing aluminum and advanced high-strength steel. The company plans to begin operating the new line by Sept. 1. “We wanted a slitting line that […]
The agriculture industry challenged the use of national security as a reason to limit steel and aluminum imports, in a missive to Secretary of Commerce Wilbur Ross on Monday. A letter from 18 agricultural associations urged the administration to consider the consequences trade barriers may have on the food industry. “Many countries that export steel […]
Editor’s note: The opinions expressed here are those of trade attorney Lewis Leibowitz and do not necessarily reflect those of Steel Market Update. There will be more discussion about trade, trade suits and Section 232 in our upcoming SMU Steel Summit Conference, which will include presentations by Leibowitz and others on both sides of the […]