Some government and industry leaders praised the new U.S.-Mexico-Canada Agreement that was signed by the three nations on Friday, while others remained critical of the trade pact, suggesting it was a missed opportunity to remove the Section 232 tariffs on Canada and Mexico. Incoming Speaker of the House Nancy Pelosi called the agreement a “work […]
This is the first time we have done this analysis since our April publication and we were surprised that the results for sheet and strip products weren’t as good as we expected. Our analysis is based on data from the American Iron and Steel Institute (AISI) and the U.S. Department of Commerce (DoC). The analysis […]
U.S. steelmakers have produced 5.6 percent more raw steel so far this year. Adjusted year-to-date production through Nov. 24 totaled 85,639,000 net tons. The increase is the result of a nearly 4 percent improvement in capacity utilization, to an average annual rate of 78.1 percent from 74.2 percent in 2017, reports the American Iron and […]
The North American auto industry is urging the White House to drop the Section 232 tariffs before the official signing of the U.S.-Mexico-Canada Agreement (USMCA). During testimony last week before the International Trade Commission, the Motor and Equipment Manufacturers Association, Alliance of Automobile Manufacturers and the American Automotive Policy Council asked the administration to exempt […]
The Census Bureau provides monthly data on total U.S. manufacturing inventories, shipments and new orders, as well as data for individual industries, including steel products. The Census Bureau data provides a useful reality check on data from steel industry trade groups such as the American Iron and Steel Institute and the Metals Service Center Institute. […]
Steel Market Update is sharing the following Premium-level article with its Executive-level members this issue. For more information on upgrading to a Premium subscription, email info@SteelMarketUpdate.com. Economic indicators of manufacturing activity remain strong. This report summarizes 11 data streams that describe the state of U.S. manufacturing in general and the steel industry in particular. We […]
Domestic steel mills achieved a production rate last week not seen in more than six years. U.S. raw steel production for the week ending Oct. 27 totaled 1,898,000 net tons with the mills averaging 81.0 percent of their capability, up from 80.0 percent reported the prior week, according to the American Iron and Steel Institute. […]
The American Iron and Steel Institute continues to support the Trump administration’s plan to ease vehicle fuel economy and emissions standards. In a submission to the EPA during the public comment period that ended Oct. 26, AISI expressed its support of the general direction of the proposal, which would establish a standard that balances the […]
U.S. mills have operated at 80 percent of capacity or better for two weeks in a row. U.S. raw steel production for the week ending Oct. 20 totaled 1,875,000 net tons with the mills averaging 80.0 percent of their capability, down slightly from 80.2 percent reported the prior week, according to the American Iron and […]
U.S. raw steel production for the week ending Oct. 13 totaled 1,881,000 net tons with the mills operating at 80.2 percent of capacity, reported the American Iron and Steel Institute. The current week’s production is a 1.6 percent improvement from the prior week, and a 10.3 percent jump from the same period last year, when […]
Economic indicators of manufacturing activity remain strong. This report summarizes 10 data sources that describe the state of manufacturing in the United States. We have reported on most of these separately and therefore will be brief in this summary. We don’t expect these data sources to all point in the same direction. Our intent in […]
U.S. mills have cranked out steel at a capability utilization rate of 79.0 percent or better for nine weeks in a row, but only briefly have breached the 80 percent mark. U.S. raw steel production for the week ending Oct. 6 totaled 1,851,000 net tons with the mills operating at 79.0 percent capacity, reported the American […]
The renegotiated NAFTA, now called USMCA (the U.S.-Mexico-Canada Agreement), still needs to be ratified in Mexico, the United States and Canada, but it is generating a plethora of commentary, both supportive and cautious. The new deal reached late Sunday “provides certainty to financial markets and supports investment and job creation in our country,” said incoming […]
U.S. raw steel production for the week ending Sept. 29 totaled 1,856,000 net tons, up 8.5 percent from the same period last year but down 0.4 percent from the prior week, reports the American Iron and Steel Institute. The mill capability utilization rate of 79.2 percent, up from 73.4 percent this time last year, remained […]
U.S. tariffs on steel imports appear to be having the expected effect. Two-thirds of the way through a year when the economy and steel demand are booming, imports are down by double digits. Citing preliminary Census Bureau data, the American Iron and Steel Institute reports that the United States imported 23,839,000 net tons of steel […]
U.S. raw steel production for the week ending Sept. 22 totaled 1,863,000 net tons, up 8.9 percent from the same period last year and 0.1 percent from the prior week, reports the American Iron and Steel Institute. The mill capability utilization rate of 79.5 percent, up from 73.4 percent this time last year, once again […]
Lewis Leibowitz, trade attorney and contributor to Steel Market Update, offers the following commentary on the latest developments in Washington: A rather eventful few days on the tariff and legal fronts: Final list of $200 billion in trade value of imports from China: The USTR announced the final list (“list 3”) of $200 billion in […]
U.S. raw steel production slipped by a slight 0.9 percent last week, nudging the mill capability utilization rate back below 80 percent once again. The American Iron and Steel Institute reported an average utilization rate for the week ending Sept. 15 of 79.4 percent, down from the 80.2 percent level in the prior week. But steel […]
U.S. raw steel production finally topped the 80 percent capaciity utilization level the industry considers necessary for sustainable profitability. The American Iron and Steel Institute reported a utilization rate for the week ending Sept. 8 of 80.2 percent, up from 79.8 percent in the prior week, and up from 73.4 percent the same week one […]
U.S. steel mills shipped 7,911,228 net tons in July, a 5.8 percent increase from the 7,480,241 net tons shipped in July 2017, but a 1.0 percent decrease from shipments in the previous month, reports the American Iron and Steel Institute in Washington. Shipments year-to-date in 2018 totaled 55,215,285 net tons, a 4.3 percent increase vs. […]
Economic indicators of manufacturing activity continue to look favorable for the rest of 2018. This report summarizes nine data sources that describe the state of manufacturing in the United States. We have reported on most of these separately in our Steel Market Update publications, and therefore will be brief in this summary. We don’t expect […]
U.S. raw steel production continues to surpass previous highs, just a hair away from the 80 percent capability utilization level sought by the industry. The American Iron and Steel Institute reported a utilization rate for the week ending Sept. 1 of 79.8 percent, up from 79.3 percent in the prior week, and up from 75.4 […]
The American Iron and Steel Institute reported a mill capability utilization rate for the week ending Aug. 25 of 79.3 percent, down slightly from 79.5 percent in the prior week, but up from 75.8 percent in the same week last year. Raw steel production for the week ending Aug. 25 totaled 1,858,000 net tons, the sixth week in a […]
U.S. mill capability utilization hit another new high for the year last week, moving closer to the 80 percent level sought by the industry. The American Iron and Steel Institute reported a utilization rate for the week ending Aug. 18 of 79.5 percent, up from 79.1 percent in the prior week, and up from 75.8 […]
U.S. mill capability utilization hit a new high for the year last week, inching closer to the industry’s desired 80 percent mark. The American Iron and Steel Institute reported a utilization rate for the week ending Aug. 11 of 79.1 percent, up from 78.0 percent in the prior week, and up from 75.8 percent in […]
What would ultimately be best for the environment: strict fuel efficiency standards that will dramatically reduce the tailpipe emissions from new vehicles or more achievable standards that will add less cost to each vehicle and allow more drivers to upgrade and get older gas guzzlers off the road? Over the strong objections of environmental groups […]
U.S. raw steel production remained above the 1.8 million ton mark for the third week in a row, reports the American Iron and Steel Institute in Washington. Raw steel output for the week ending Aug. 4 totaled 1,828,000 net tons, a 4.3 percent increase from the same period last year, but down 0.4 percent from […]
There are no clouds on manufacturing’s horizon. Economic indicators of manufacturing activity are virtually all positive for the remainder of 2018, according to Steel Market Update’s analysis of nine data sources that describe the state of manufacturing in the United States. We have reported on most of these separately in our Steel Market Update publications, […]
U.S. raw steel production topped the 1.8 million ton mark for the second week in a row and mill utilization, at 78.3 percent, almost equaled this year’s peak of 78.7 percent achieved in March, reports the American Iron and Steel Institute in Washington. Raw steel output for the week ending July 28 totaled 1,836,000 net […]
The American Iron and Steel Institute (AISI) believes the Trump administration’s Section 232 tariffs will survive the legal challenge filed by the American Institute of International Steel (AIIS) last month. “We believe this case is without merit and we are confident the court will reject this challenge to the constitutionality of the Section 232 statute,” […]