Tag: Aluminum

Last week, former Treasury Secretary Larry Summers gave a major speech challenging the views of anti-trade leaders, such as (but not limited to) Bob Lighthizer.

The LME aluminum 3-month price was up 0.8% on the morning of Friday Sept. 22. It was last seen trading at $2,238/metric tons, remaining above the $2,200/t mark for most of the past week.

Deputy United States Trade Representative (USTR) Jayme White met on Wednesday with Mexico’s Under Secretary of Economy for Foreign Trade Alejandro Encinas, and discussed issues regarding the “surge” into the US of Mexican steel and aluminum imports.

The LME aluminum 3-month price was broadly stable on the morning of Sept. 15 and was last seen trading near $2,208 per tonne.

Steel prices kept falling throughout last month. Hot-rolled coil (HRC) prices ended August at $725 per ton ($36.25 per cwt) on average, having fallen by $105 per ton during the month.

The LME aluminum three-month price was broadly stable again on the morning of Sept. 8 and was last seen trading at $2,180 per tonne.

Some of you may remember when the year “2000” seemed like the distant future.

In a Steel Summit fireside chat, Karla Lewis, president and CEO of service center group Reliance Steel & Aluminum, sat down with SMU managing editor Michael Cowden to talk about current demand trends and where she’s leading her company.

The Mexican government has placed temporary levies of 25% on inward-bound shipments of steel products from countries with which it does not have a free trade agreement.

The LME aluminum 3-month price moved higher this week wrapping up the week at $2,170 per ton on Aug. 25.

Reshoring or nearshoring in manufacturing is real and happening now. And that trend is driving steel consumption, executives from steelmaker Ternium and service center group Reliance Steel & Aluminum said at SMU’s Steel Summit this week in Atlanta.

The LME aluminum 3-month price is unchanged on the morning of August 18 and was last seen trading at $2,144 /t. A rally to an intraday high of $2,186 /t on the 17th proved again to be short-lived as almost all gains were erased by the close. This shows how strong the downward trend that […]

Mexico has decided to implement import tariffs on a number of products, among them, steel.

The office of the US Trade Representative (USTR) endorsed the World Trade Organization’s (WTO) panel report regarding the Section 232 duties against China on steel and aluminum. The report recognized the duties as “security measures,” rejecting China’s arguments against them.

CRU research manager Stephen Williamson shares his views of this week's aluminum market.

SMU senior analyst David Schollert provides an overview of steel market indicators for the month of July.

US Midwest premium has continued to trend lower. Slack end-use demand is the main driver as the CME backwardation holds for dates further out in 2023. Lower freight and weak LME prices lower the replacement costs of aluminum and thus lower the floor for the premium.

Ryerson said it expected demand to weaken in the near term after it reported a slump in second-quarter earnings. The Chicago-based service center group reported net income of $38 million in Q2’23, down 81% from $196 million a year earlier on revenue that fell 23% to $1.34 billion. “Shifting consumer spending patterns, higher interest rates, […]

Ryerson said it expected demand to weaken in the near term after it reported a slump in second-quarter earnings.

Mexican steelmaker Ternium could benefit if the US places new steel tariffs on Mexico, according to New York-based investment firm Morgan Stanley. “First, if the US were to levy tariffs on steel imports from Mexico, we believe the government of Mexico would likely respond with a similar measure. Second, due to its product mix, Ternium would likely benefit […]

There is a lot going on at SMU right now. We’re going to be rolling out a new website over the next few days. We’ve also got more than 1,200 people registered to attend Steel Summit this year, putting us on pace to potentially break last year’s attendance record of nearly 1,300. The event is […]

China recently became the world’s largest exporter of cars. Experience from the steel industry suggests this is not a trend that will reverse.

China recently became the world’s largest exporter of cars. Experience from the steel industry suggests this is not a trend that will reverse, though it might reduce. Changes in auto supply chains and metals demand outside China are likely. China Is Now the World’s Largest Car Exporter China recently became the world’s largest exporter of […]

The LME aluminum three-month price is moving higher again, closing the week on the morning of July 28 at $2,215 per tonne. The previous day, the price dropped sharply at the close and briefly moved below $2,200/t. The next day the price was seen increasing again, suggesting support at $2,200/t has once again been regained. 

The LME aluminum three-month price is moving higher again, closing the week on the morning of July 28 at $2,215 per tonne. The previous day, the price dropped sharply at the close and briefly moved below $2,200/t. The next day the price was seen increasing again, suggesting support at $2,200/t has once again been regained.  […]

Mexican steelmaker Ternium could benefit if the US places new steel tariffs on Mexico, according to New York-based investment firm Morgan Stanley. “First, if the US were to levy tariffs on steel imports from Mexico, we believe the government of Mexico would likely respond with a similar measure. Second, due to its product mix, Ternium would likely benefit […]

For starters, thanks to Barry Zekelman, chairman and CEO of Zekelman Industries, for taking time for a Community Chat on Wednesday. Zekelman was, as always, sharp on steel. He also caught my attention and some of yours when he said he was interested in buying a steel mill. “I’ve dreamed of owning a steel mill […]

Reliance Steel & Aluminum Co. posted second quarter results consistent with the previous quarter’s, even as shipments slipped. The Scottsdale, Ariz.-based service center behemoth shipped 1.484 million tons in Q2, 1.2 million of which were carbon steel products. Overall shipments were down 2.4% sequentially, with carbon shipments declining 2.1%. Compared to the same quarter last […]

Reliance Steel & Aluminum Co. posted second quarter results consistent with the previous quarter’s, even as shipments slipped.

In 2021, the US and EU called a timeout on their disputes about the US “national security” steel and aluminum tariffs and the resulting retaliatory measures by the EU. The agreement back then rescinded the Section 232 tariffs and replaced them with a “tariff-rate quota” that allowed a measure of tariff-free trade. In exchange, the […]