China should no longer get a “free ride” and be able to “back door” imports via the current language in free trade agreements the U.S. has with other countries, said a trio of senators last week in a letter to U.S. Trade Representative Katherine Tai. The Market Economy Sourcing Act, sponsored by Sens. Bob Casey […]
Domestic raw steel production edged down marginally in the week ending Sept. 18 after climbing to a new pandemic-era high the week prior. According to the American Iron and Steel Institute (AISI), production by U.S. mills was estimated at 1,874,000 net tons while the average utilization rate was 84.9%. Mill utilization has fluctuated in recent weeks […]
Mill shipments of steel products rose 2.0% in July to 8.7 million tons, following an increase of 1.7% the month prior. Apparent supply jumped 3.6% in July after a 6.0% increase the prior month. July marks the fifth consecutive month of gains after February’s double-digit contraction. This analysis is based on steel mill shipment data from […]
July apparent steel supply increased 312,000 tons over June to 9.70 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. This is now the highest supply level seen since January 2019, a 30-month record. July supply is up 2.73 million tons compared to the same month […]
Production by U.S. mills was 1,882,000 net tons while the average utilization rate was 85.3% in the week ending Sept. 11, according to the American Iron and Steel Institute (AISI). Weekly domestic raw steel production rebounded after slipping for two straight weeks, eclipsing the 85% mark for the first time since Sept.13, 2008. Weekly output […]
Lobbying groups for U.S. steel mills and the United Steelworkers (USW) union want trade restraints placed on the EU to prevent potential “import surges” from the region. The call – from the American Iron and Steel Institute (AISI), the Steel Manufacturers Association (SMA) and the United Steelworkers union (USW) – comes even as the U.S. and the […]
Weekly domestic raw steel production slipped for the second straight week. Production by U.S. mills was 1,866,000 net tons while the average utilization rate was 84.5% in the week ending Sept. 4, according to the American Iron and Steel Institute (AISI). Weekly output dipped by 0.4% compared to the week prior when production was 1,873,000 […]
Weekly domestic raw steel production slipped last week after climbing the week prior. Output varied slightly throughout the month of August. Production by U.S. mills was 1,873,000 net tons while the average utilization rate was 84.9% in the week ending Aug. 28, according to the American Iron and Steel Institute (AISI). Weekly output dipped by […]
I was pleased to see many of you this past week in Atlanta at the SMU Steel Summit. It is certainly one of the largest (and most significant) steel conferences in the United States. This year was a first – a hybrid conference, with about 800 in-person attendees and 300 virtual. I doubt it will […]
Electric vehicle (EV) sales have gotten a big boost from President Biden’s pledge to reduce harmful CO2 emissions. And the Biden administration’s infrastructure bill now under debate in Congress, which includes $7.5 billion in funding for a nationwide network of EV charging stations, could go a long way toward reducing the “range anxiety” that is […]
Total steel imports into the United States jumped by more than 20% in the first seven months of the year, versus the same period in 2020, reported the American Iron and Steel Institute, based on preliminary Census data. Foreign steel, including billet and slabs, totaled 17.7 million net tons for a 20.6% year-over-year increase. Finished […]
Here’s the Steel Summit program for Wednesday, Aug. 25, at the Georgia International Convention Center in Atlanta: 7 a.m. – Doors open at GICC. All day beverage sponsored by Felux and pastries sponsored by Ratner Steel 8:20-8:30 a.m. – Opening Remarks by SMU President and CEO John Packard 8:30-9:30 a.m. – Steel […]
Weekly raw steel production by U.S. mills edged back up after successive decreases the past two weeks. The average utilization rate was 85.0% while production was 1,877,000 net tons in the week ending Aug. 21, according to the American Iron and Steel Institute (AISI). The slight increase in domestic production edged utilization back up to […]
After 12 months of planning, countless hours of discussions about our agenda, whether we would be virtual, live or both, and agonizing over how to best conduct a safe live event not knowing what direction the pandemic would be taking – the bottom line is it’s showtime. The weather forecast is for no rain on […]
On Friday, Steel Market Update sent data providers the final analysis for July of service center inventories, shipments, steel on-order, and percentage of inventories tied up for contract sales. Premium members will receive the report on Monday. As expected, after reviewing our Flash Report which is provided to data providers five days into the new […]
One Week to Go… There is now but one week to go before the doors open at the Georgia International Convention Center (GICC) in Atlanta for the 2021 SMU Steel Summit Conference on August 23. This year the conference will be unique as it will be a “hybrid” event. By this I mean we will […]
Over the last week or so, statistics have emerged about the surge in capacity utilization of the steel industry in the United States. Since Jan. 1, the American Iron and Steel Industry reports, domestic steelmakers have operated at a capacity utilization rate of 80.1%. In the most recent week reported, ending Aug. 7, capacity utilization was 84.8%, […]
Mill shipments of steel products rose in June by 1.7%, following an increase of 1.9% the month prior. Apparent supply jumped 6.0% in June after a 1.3% increase in May. June’s gains were the fourth in as many months after February’s double-digit contraction. This analysis is based on steel mill shipment data from the American […]
June apparent steel supply rose 270,000 tons over May to 9.38 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. This is the highest suppy level seen since January 2020, surpassing the May 2021 recent-high of 9.11 million tons. June supply is up by 2.47 million […]
The Senate passed a sweeping infrastructure bill on Tuesday – the Infrastructure Investment and Jobs Act – that calls for a nearly $1 trillion federal investment in roads, bridges, rail, the electrical grid and broadband. Steel is chief among the industries that stand to benefit from this new spending over the next decade if the […]
U.S. steel mills shipped 8,031,516 net tons in June, a 33.3% increase from the 6,023,524 net tons shipped in June 2020, reported the American Iron and Steel Institute. Shipments rose a slight 0.6% from the 7,987,038 net tons shipped in the previous month. Shipments for the first half of 2021 totaled 45,969,876 net tons, an […]
Weekly raw steel production by U.S. mills dipped slightly, losing momentum last week. The average utilization rate was 84.8%, while production totaled 1,872,000 net tons in the week ending Aug. 7, according to the American Iron and Steel Institute (AISI). The slip, though negligible, was the first decrease in six weeks as U.S. mills continue […]
Weekly raw steel production by U.S. mills contracted slightly for the second straight week. The average utilization rate was 84.7%, while production totaled 1,869,000 net tons in the week ending Aug. 14, according to the American Iron and Steel Institute (AISI). The dip, though minor, was the second in as many weeks after domestic production pushed […]
U.S. raw steel production eased in June to 7.90 million net tons, according to recently released American Iron and Steel Institute data. Although down 2.7% from the month prior, June marks the second-highest production level seen since January 2020 when 8.44 million tons were produced by domestic mills (May 2021 was a 16-month high). June production is up 2.45 million […]
The Biden administration is calling for mass adoption of electric vehicles (EVs) by 2030, a target supported by major U.S. automakers such as General Motors, Ford and Stellantis. The goal, reinforced with an executive order from the president, bolsters the U.S. auto industry’s efforts to reach a 40-50% EV penetration within the next nine years. […]
The United States and the European Union aim to resolve their differences around Section 232 tariffs on the EU by Nov. 1, an EU official said. “On the U.S. Section 232, both sides confirmed readiness to find a solution by 1 November,” the EU official told Steel Market Update (SMU). “In terms of progress, both […]
U.S. mills are producing steel at nearly full capacity. The average utilization rate for U.S. mills reached 85.0% in the week ending July 31, while raw steel production totaled 1,876,000 net tons, according to the American Iron and Steel Institute (AISI). Weekly output rose for the fifth straight week, up 0.4% compared to the week […]
Toyota Motor North America in now a member of the Auto/Steel Partnership (A/SP), joining automakers Stellantis and General Motors in a consortium that includes the American Iron and Steel Institute’s (AISI) Automotive Applications Council. “We are excited to welcome Toyota to our team of automakers, steel companies and tier supplier representatives who are dedicated to […]
Steel lobbying groups cheered a procedural move advancing a bipartisan infrastructure bill through the Senate. The 67-32 vote does not mean the bill has passed. But it clears a key hurdle on the way toward turning a potentially $1 trillion bill, including $550 billion on steel-intensive infrastructure, into law. Congress – both the House and the Senate – have […]
2021 SMU Steel Summit Conference – Revised Agenda as of July 27, 2021 The 2021 SMU Steel Summit Conference will be held at the Georgia International Convention Center on Aug. 23-25. The convention center is conveniently located next to the Atlanta International Airport (ATL). The center and the hotels surrounding the convention center are on […]