Raw steel production by U.S. mills totaled 1,793,000 net tons in the week ended May 22, down 0.3% compared to the week prior when production totaled 1,799,000 net tons, according to the American Iron and Steel Institute (AISI). The mill utilization rate last week averaged 79.0%, down from 79.2% the week before but up 46.6% […]
Nucor CEO and President Leon Topalian will serve as the next chairman of the American Iron and Steel Institute, announced the AISI Board of Directors on Tuesday. Topalian will serve a two-year term at the head of the industry trade group, taking over the role from John Brett, CEO of ArcelorMittal North America. “Leon Topalian […]
Don’t forget to tune into SMU’s next Community Chat webinar on Wednesday, May 26, at 11 a.m. ET with Steel Manufacturers Association (SMA) President Philip K. Bell. Bell will speak about the U.S. steel industry’s low carbon profile compared to steelmakers abroad – and its efforts to reduce carbon emissions even further. He will […]
Don’t forget to tune into SMU’s next Community Chat webinar on Wednesday, May 26, at 11 a.m. ET with Steel Manufacturers Association (SMA) President Philip K. Bell. Bell will speak about the U.S. steel industry’s low carbon profile compared to steelmakers abroad – and its efforts to reduce carbon emissions even further. He will […]
March apparent steel supply rose nearly 1.5 million tons from February’s dip, now at 8.96 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. This is the highest supply level seen since January 2020’s 9.52 million tons. March also marks the largest month-over-month increase in supply […]
A coalition of U.S. steel industry lobbying groups and the United Steelworkers (USW) union want the Biden administration to keep Trump-era Section 232 tariffs and quotas on imported steel in place. The groups say the tariffs – rolled out in March 2018 on national security grounds – are necessary for the survival of the domestic […]
Raw steel production by U.S. mills totaled 1,799,000 in the week ending May 15, up 1.4% compared to the week prior when production totaled 1,774,000 net tons, according to the American Iron and Steel Institute (AISI). The mill utilization rate last week averaged 79.2%, up from 78.1% the week before and up 47.1% from the […]
The United States and the European Union have begun negotiations that could lead to the removal of Section 232 tariffs on steel and aluminum imported from the continent, according to market participants and a joint statement from the two sides. The official trigger of the talks: U.S. Trade Representative Katherine Tai, Commerce Secretary Gina Raimondo […]
Mill shipments of steel products improved by 18.3% in March compared to the month prior, while apparent supply increased by 18.1% during the same period. The double-digit gains are even more impressive considering their low performance in February, the first decline in both apparent supply and shipments of steel since the market reached bottom back in […]
Lourenco Goncalves, chairman, president and CEO of Cleveland-Cliffs, will be honored as Steelmaker of the Year by the Association for Iron and Steel Technology at this year’s AISTech 2021 conference. The award recognizes Goncalves for his leadership in the iron and steel industry. Said AIST in a press release: “Goncalves is awarded Steelmaker of the […]
Could the U.S. steel industry be looking at 50 million tons of new demand in the next few years? That’s one way of calculating how much steel might be required if a $1-trillion infrastructure package passes Congress and is signed into law. Infrastructure spending of $1 billion equals 50,000 tons in steel demand, according to a […]
Could the U.S. steel industry be looking at 50 million tons of new demand in the next few years? That’s one way of calculating how much steel might be required if a $1-trillion infrastructure package passes Congress and is signed into law. Infrastructure spending of $1 billion equals 50,000 tons in steel demand, according to a […]
Raw steel production by U.S. mills edged down 0.8% in the week ending May 8 compared to the week prior, the first decrease in nearly a month, according to the American Iron and Steel Institute (AISI). Production totaled 1,774,000 net tons last week while mill utilization averaged 78.1%, down from 1,788,000 net tons and 78.7% […]
Join us for a free, 45-minute SMU Community Chat on Wednesday with an infrastructure policy expert from the American Iron and Steel Institute (AISI). Brett Smith, senior director of government relations at the AISI, will be the featured speaker during the webinar on May 12, at 11 a.m. ET. Smith serves as liaison between AISI member […]
Record-high steel prices result not from Section 232 tariffs or industry consolidation but instead from uniquely strong supply-demand fundamentals, Cleveland-Cliffs’ top executive said. And an ambitious infrastructure package would go a long way toward keeping those fundamentals, and the resulting investment in the domestic steel industry, stronger for longer, he suggested. “We in this country […]
Record-high steel prices result not from Section 232 tariffs or industry consolidation but instead from uniquely strong supply-demand fundamentals, Cleveland-Cliffs’ top executive said. And an ambitious infrastructure package would go a long way toward keeping those fundamentals, and the resulting investment in the domestic steel industry, stronger for longer, he suggested. “We in this country […]
U.S. steel product shipments rose by 1.9% in March after slipping by 1.7% the month prior. The rebound follows February’s decline—the first decrease since bottoming out in April 2020—which was attributed to seasonal factors. Shipments of manufactured durable goods saw a similar blip. March steel shipments posted a 9.9% increase when compared to March 2020, surpassing pre-pandemic levels, according […]
Price, Price, Price… I might as well begin where I left off in our last issue of Steel Market Update on Thursday. Everyone wants to know when this market will peak, then tip over, and how far it will then fall. There are a wide range of opinions within the steel community, from prices will […]
Brett Smith, senior director of government relations at the American Iron and Steel Institute (AISI), will be the featured speaker during the next SMU Community Chat on Wednesday, May 12, at 11 a.m. ET. Smith serves as liaison between AISI member companies from the American steel industry and the U.S. Congress and federal agencies. He […]
Brett Smith, senior director of government relations at the American Iron and Steel Institute (AISI), will be the featured speaker during the next SMU Community Chat on Wednesday, May 12, at 11 a.m. ET. Smith serves as liaison between AISI member companies from the American steel industry and the U.S. Congress and federal agencies. He […]
Everything You Want to Know About This Year’s Conference There is much to talk about at this year’s SMU Steel Summit Conference as the industry deals with record high prices, strong demand, challenges to supply, questions about trade, new steel mills about to come onstream and more recently announced, automotive moving to electric vehicles, questions […]
Everything You Want to Know About This Year’s Conference There is much to talk about at this year’s SMU Steel Summit Conference as the industry deals with record high prices, strong demand, challenges to supply, questions about trade, new steel mills about to come onstream and more recently announced, automotive moving to electric vehicles, questions […]
U.S. steel product shipments slipped in February by 1.7%, the first decrease since bottoming out in April 2020 when COVID nearly brought the economy to a standstill. Despite the decrease month on month, which may be due to seasonal factors, steel shipments have recovered to pre-pandemic volumes and posted an increase of 5.5% compared to February […]
February apparent steel supply slipped 500,000 tons or 6.3% from the 10-month high seen in January, now at 7.51 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. Although down from the month prior, February supply is at the third highest level seen in the last […]
Mill shipments of steel products fell 9.8% month on month in February, while apparent supply was down by 12.5% during the same period. This is the first noticeable decrease in both apparent supply and shipments of steel since the market reached bottom back in May 2020. Mill shipments were down by 13.1% year on year, […]
Given the heightened urgency to reduce carbon emissions and address climate change, nearly all the world’s automakers plan to replace at least some of the internal combustion cars and trucks in their lineups with fully electric vehicles (EVs). GM, notably, has pledged to introduce 30 new EVs by 2025 and to produce nothing but EVs […]
Given the heightened urgency to reduce carbon emissions and address climate change, nearly all the world’s automakers plan to replace at least some of the internal combustion cars and trucks in their lineups with fully electric vehicles (EVs). GM, notably, has pledged to introduce 30 new EVs by 2025 and to produce nothing but EVs […]
The Biden administration’s ambitious American Jobs Plan, which calls for an historic investment in the nation’s infrastructure, offers enormous promise for the U.S. economy and steel demand, but it faces pushback on several fronts. President Biden addressed the nation from Pittsburgh yesterday afternoon to pitch his vision for an eight-year, $2-trillion infrastructure spending plan that […]
It’s time to roll back the Section 232 tariffs on steel and aluminum imports, and the Section 301 tariffs on imports from China, which are inflicting significant harm on U.S. businesses and workers, argued the National Foreign Trade Council on Wednesday in an appeal to the Biden administration. The NFTC’s briefing paper, “Why Recent Tariff […]
U.S. steel producers, facing intensifying criticism from steel consumers over record-high steel prices, were quick to point to a new report this week from the Economic Policy Institute, which concludes that the Trump-era Section 232 tariffs have been an effective deterrent to unfair imports and should be continued by the Biden administration. The Steel Manufacturers […]