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 The agreement back then rescinded the Section 232 tariffs and replaced them with a “tariff-rate quota” that allowed a measure of tariff-free trade.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 […]
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.
With the latest announcement between India and the US easing Section 232 duties, it is clear the duties, initiated in 2018, are under review. Now that five years have passed, a good amount of data has been gathered to analyze the effects of the policy. Judging from each scheduled review of the economic effects of […]
Fort Wayne, Ind.-based steelmaker Steel Dynamics Inc. is taking advantage of opportunities in the Mexican steel market and plans to continue doing so moving forward. Executives discussed some of those opportunities on the company’s second-quarter earnings conference call on Thursday, July 20. The location and capabilities of SDI’s newest flat-rolled steel mill in Sinton, Texas, […]
With the latest announcement between India and the US easing Section 232 duties, it is clear the duties, initiated in 2018, are under review. Now that five years have passed, a good amount of data has been gathered to analyze the effects of the policy. Judging from each scheduled review of the economic effects of the policy resulting in its continuation, it is clear that it has had a positive impact on parts of the industry. However, there are also a handful of knock-on effects that have become apparent.
US Trade Representative (USTR) Katherine Tai and a lead European Commission official met on Thursday in Brussels to discuss the Global Arrangement on Sustainable Steel and Aluminum, according to a press release from the USTR. In her meeting with EC EVP Valdis Dombrovskis, “Ambassador Tai stressed the importance of both sides generating ambitious proposals in […]
Fort Wayne, Ind.-based steelmaker Steel Dynamics Inc. is taking advantage of opportunities in the Mexican steel market and plans to continue doing so moving forward.
US Trade Representative (USTR) Katherine Tai and a lead European Commission official met on Thursday in Brussels to discuss the Global Arrangement on Sustainable Steel and Aluminum, according to a press release from the USTR.
We’re just a month out from Steel Summit, so I decided to go back and check on how things look now compared to ~30 days ahead of the event last year. For starters, approximately ~1,100 people are registered to attend the event on Aug. 21-23 in Atlanta. That puts us on track to meet or […]
Steel Dynamics Inc. (SDI) posted lower year-over-year second quarter profits but said demand “remains solid” across the automotive, construction, industrial, and energy sectors. The Fort Wayne, Ind.-based steelmaker also predicted that steel prices might find support thanks to what it described as low customer inventories. “We remain confident that market conditions are in place for […]
With demand trending lower throughout out the first half of 2023, the aluminum industry is searching for something to be optimistic about. Recent economic news is leaning positive, with inflation slowing across multiple measures including the Producer Price Index (PPI) and manufacturing final goods’ pricing. Personal consumption expenditure has slowed from its peak but sustained […]
AZZ Inc. reported an 18% increase in net income in its fiscal first quarter of 2024, driven by a strong performance in its Metal Coatings business and by a full quarter with its Precoat Metals acquisition. The Fort Worth, Texas-based galvanizer and coil coater posted net income of $28.5 million in its fiscal Q1 ended […]
US Trade Representative Katherine Tai will travel to Brussels next week to continue discussions on establishing a “Global Arrangement on Sustainable Steel and Aluminum” with the European Union. Ambassador Tai will be in Belgium on July 20-21 to speak with European Commission EVP Valdis Dombrovskis. This is their second meeting in July, the USTR press […]
Steel prices continued to erode in June, a trend that began halfway through April. Hot-rolled coil (HRC) prices ended June at $875 per ton (43.75 per cwt) on average, falling by $115 per ton throughout the month. The SMU Price Momentum Indicator for sheet products remained shifted to Neutral halfway through June, after turning Lower […]
Commercial Metals Co. (CMC) said on Monday that Barbara R. Smith, the company’s CEO and chairman, will retire as CEO effective Sept. 1, and will be replaced by Peter Matt, who will serve as CEO and president. The Irving, Texas-based longs producer and metal recycler said that Smith has been appointed as executive chairman, also effective […]
US Trade Representative Katherine Tai met on Thursday in Cancun, Mexico, with Mexico’s Secretary of Economy, Raquel Buenrostro, where the two discussed confronting steel imports, among other issues. In a press release, the USTR said she spoke with Secretary Buenrostro regarding “the importance of addressing the recent surge of imports of steel and aluminum products, and […]
The LME aluminum 3-month price is moving down again after the 4th of July holiday and was last trading near $2,130 per metric ton (as of the writing of this article on July 7). The fact that the price resumed sharp declines and is not challenging the next resistance at $2,200 per metric ton shows […]
The ITC announced today it is taking up the fact-finding investigation requested by the US Trade Representative into greenhouse-gas emissions intensity in the US steel and aluminum industries. In steel, more than 50 products will be examined for their GHG emissions-intensity as of 2022. The study is set to be completed by Jan. 28, 2025. […]
The US International Trade Commission (ITC) said Wednesday it is conducting a fact-finding investigation to assess the greenhouse gas (GHG) intensity of steel and aluminum made in the US. This is in response to a letter sent by US Trade Representative Katherine Tai on June 5 requesting a Section 332 investigation in the midst of ongoing […]
The United States and Indian governments have agreed to terminate six disputes at the World Trade Organization (WTO). Benefits from the settlement include opening the US to more shipments of steel and aluminum made in India, according to New Delhi. “As a part of the agreement, the US has agreed to grant market access to […]
Wabash, Ind.-based Metal Source has completed its acquisition of Bedford Recycling, which has locations in Bedford and Mitchell, Ind. “We’re excited to integrate the Bedford recycling facility and Mitchell recycling facility into our current Metal Source business model,” Colin Denihan, Metal Source president and chief commercial officer of parent company Gebhart Holdings, told SMU in […]
With the US aluminum industry at a critical juncture, a new report is highlighting ways the Biden administration can use the Global Arrangement for Sustainable Steel and Aluminum (GASSA) to help the struggling domestic industry. Recall CRU’s aluminum analysts have previously shared with SMU the nightmare US aluminum smelters have been facing when it comes […]
Primetals Technologies and LanzaTech announced the signing of a renewed 10-year cooperation agreement around the steel industry’s “green transition,” the companies said on Tuesday, June 27. Headquartered in London, Primetals seeks new solutions in metals production, and sustainable ways to produce steel, aluminum, and other metals, according to its website. Meanwhile, LanzaTech, with headquarters in […]
The pressure that comes with being a CEO is not for the faint of heart. With every decision they make, CEOs have to keep in mind what’s best for the company. Karla Lewis, president and CEO of Reliance Steel & Aluminum, and Leon Topalian, president and CEO of Nucor Corp., sat down with Metal Service […]