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 […]
Mill shipments of steel products declined by 2.0% in April compared with the month prior, while apparent supply increased by 2.8% during the same period. April’s totals were a letdown from the strong performance in March, which saw shipments of steel products leap by 18.3% and apparent supply accelerate by 18.1%. This analysis is based […]
The U.S. and the EU have agreed to “resolve tensions” stemming from Section 232 by year end–but that doesn’t mean the national security tariffs will be lifted anytime soon, the head of the American Iron and Steel Institute (AISI) said. “I don’t see anything happening before the end of this year. This is a complicated […]
Raw steel production by U.S. mills totaled 1,834,000 net tons in the week ended June 12, down a slight 0.3% compared to the week prior, but still at a healthy mill utilization rate of 82.6%. That compares to production of 1,272,000 net tons and mill utilization of just 56.8% in the same period last year […]
April apparent steel supply declined 189,000 tons from March’s high to 8.77 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. This is the second highest suppy level seen since January 2020, just behind the March 2021 high. April supply is up 2.24 million tons compared […]
The White House has confirmed that the United States and the European Union are in discussions to resolve “existing differences” on Section 232 tariffs on steel and aluminum from the EU before the end of the year. “We are determined to work together to resolve tensions arising from the U.S. application of tariffs on imports […]
U.S. steel product shipments fell by 2.4% in April following an increase of 15.6% in the month prior. The decline, although disappointing, is not surprising because steel product shipments have been irregular from month to month since bottoming out in May 2020. The lack of consistency has been attributed to seasonal factors at times but […]
Raw steel production by U.S. mills totaled 1,840,000 net tons in the week ended June 5, up 0.2% compared to the week prior when production totaled 1,836,000 net tons, according to the American Iron and Steel Institute (AISI). The mill utilization rate last week averaged 82.3%, up from 81.5% the week before and up 46.3% […]
Raw steel production by U.S. mills totaled 1,836,000 net tons in the week ended May 29, up 2.4% compared to the week prior when production totaled 1,793,000 net tons, according to the American Iron and Steel Institute (AISI). The mill utilization rate last week averaged 81.5%, up from 79.0% the week before and up 50.1% […]
The U.S. steel industry stands to benefit in a big way should the government put a price on carbon emissions, according to a study by CRU, Steel Market Update’s parent company. CRU examined the potential impact of a standard fee on carbon emissions and an equivalent border carbon adjustment (BCA) and found that such policies could […]
U.S. raw steel production in March increased nearly 870,000 tons or 12.5% from February, reaching 7.83 million net tons, according to recently released American Iron and Steel Institute data. March marks the highest production level seen since January 2020 when 8.44 million tons were produced by domestic mills. March production is up 120,000 tons or […]