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 […]
The average utilization rate for U.S. steel mills reached 84.6% in the week ending July 24, while domestic raw steel production totaled 1,868,000 net tons, keeping the upward momentum going for the fourth straight week, according to the American Iron and Steel Institute (AISI). Weekly output was up 0.5% compared to the week prior when […]
The average utlization rate for U.S. steel mills reached 84.1% in the week ending July 17, while domestic raw steel production totaled 1,859,000 net tons, up for the third consecutive week, according to the American Iron and Steel Institute (AISI). Weekly output was up 0.4% when compared with the week prior when production was 1,852,000 […]
U.S. steel mills shipped 7,987,038 net tons in May, a 46.2% increase compared with the 5,461,851 net tons shipped in May 2020 when the economy was struggling with the worst of the pandemic. May shipments also were up 1.8% from the 7,845,008 net tons shipped in the previous month, reported the American Iron and Steel Institute. […]
May apparent steel supply rose 340,000 tons over April to 9.11 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. This is now the highest suppy level seen since January 2020, surpassing the March 2021 recent high of 8.96 million tons. May supply is up by 2.51 million […]
Mill shipments of steel products rose in May by 1.9%, rebounding from the 2.0% decline seen the month prior, while apparent supply was up 1.7% compared to April. Although mill shipments and apparent supply gains have decelerated from the nearly 20.0% rally seen in March, May’s gains were the third increase in as many months […]
Former President Donald Trump acted within the law when he doubled Section 232 tariffs on Turkey from 25% to 50% in August 2018, a federal appeals court said. The decision by the U.S. Court of Appeals for the Federal Circuit upends a prior decision by a lower court – namely, by the U.S. Court of […]
U.S. mills produced steel at an average utilization rate of 83.6% last week, the highest rate in more than a decade as they scramble to keep up with the strong demand in today’s economy. Raw steel production by U.S. mills totaled 1,852,000 net tons in the week ending July 10, up 0.5% compared with the week […]
Raw steel production by U.S. mills totaled 1,842,000 net tons in the week ended July 3, up 0.4% compared with the week prior when production was 1,835,000 net tons. The average mill utilization rate was 83.0%, up 0.3% week on week, based on the available data compiled and reported by the American Iron and Steel […]
U.S. steel product shipments rebounded in May, up 3.1% following a 7.1% decrease the month prior. Steel product shipments have been irregular from month to month since bottoming out in May 2020. The seesaw pattern over the past year is attributable to several factors including mill outages, factory curtailments and seasonal disruptions as the marketplace […]
Raw steel production by U.S. mills totaled 1,835,000 net tons in the week ended June 26, down 0.2% compared with the week prior when production was 1,839,000 net tons. The average mill utilization rate was 82.7%, also down 0.2% week on week, based on the available data compiled and reported by the American Iron and […]
U.S. steel imports through the first five months of 2021 totaled 11,780,000 net tons, a 7.1% increase from the same period last year, based on preliminary Census data reported by the American Iron and Steel Institute (AISI). Of that, finished steel imports amounted to 7,966,000 tons, an 8.8% increase, as buyers in the U.S. were […]
Raw steel production by U.S. mills totaled 1,839,000 net tons in the week ended June 19, up 0.3% compared with the week prior when production was 1,834,000 net tons. The average mill utilization rate was 82.9%, also up 0.3% week on week, reported the American Iron and Steel Institute (AISI). Last week’s output represents a […]
2021 SMU Steel Summit Conference Revised Agenda as of June 20, 2021 There are 55 days before the start to the 2021 SMU Steel Summit Conference. We should have close to 300 companies and 800+ executives attending this year based on where we are today. The conference agenda is close to its final shape. There […]
2021 SMU Steel Summit Conference Revised Agenda as of June 20, 2021 There are 55 days before the start to the 2021 SMU Steel Summit Conference. We should have close to 300 companies and 800+ executives attending this year based on where we are today. The conference agenda is close to its final shape. There […]