Editor’s note: Richard Chriss, president of the American Institute for International Steel, which represents foreign steelmakers, offered this rebuttal to a recent letter to the editor in the New York Times by Scott Paul, president of the Alliance for American Manufacturing: There is no single word for the economic fallacy of assuming that those who […]
U.S. raw steel production for the week ending Feb. 3 totaled 1,747,000 net tons, a 0.2 percent decrease from the same period last year, but up 1.6 percent from the prior week. The mill capability utilization rate for the week averaged 75.0 percent, down from 73.8 percent the prior week, reports the American Iron and […]
U.S. steelmakers sent a letter to President Trump on Feb. 1 urging the administration to take action against steel imports under Section 232. The letter from the American Iron and Steel Institute stressed that immediate action is needed to prevent imports from recapturing nearly a third of the U.S. market as they did last June. […]
Economic indicators are strong overall and portend well for the first half of 2018. This report summarizes seven data sources that describe the state of manufacturing, construction, steel activity and the overall market in the United States. We have reported on most of these separately in our Steel Market Update publications, and therefore will […]
U.S. raw steel production for the week ending Jan. 27 totaled 1,719,000 net tons, a 1.0 percent decrease from the same period last year, but up 1.5 percent from the prior week. The mill capability utilization rate for the week averaged 73.8 percent, down from 72.6 percent the prior week, reports the American Iron and […]
U.S. raw steel production for the week ending Jan. 20 totaled 1,693,000 net tons, a 2.5 percent decrease from the same period last year, and down 0.8 percent from the prior week. The mill capability utilization rate for the week averaged 72.6 percent, down from 73.2 percent the prior week, reports the American Iron and […]
U.S. raw steel production for the week ending Jan. 13 totaled 1,707,000 net tons, a 1.7 percent decrease from the same period last year, but up 3.5 percent from the prior week. The mill capability utilization rate for the week averaged 73.2 percent, up from 70.7 percent the prior week but down from 74.5 percent […]
The Section 232 report on the effect of steel mill product imports on U.S. national security was submitted to President Trump by Secretary of Commerce Wilbur Ross late on Thursday, Jan. 11. The president now has 90 days to take action. Details of the report have not been released. In its announcement, the Commerce Department […]
Apparent steel supply for the month of November totaled 8,723,547 net tons, according to the latest data from the U.S. Department of Commerce and the American Iron and Steel Institute. Apparent steel supply is calculated by adding domestic steel shipments and finished U.S. steel imports, then subtracting total U.S. steel exports. November apparent steel supply […]
The Section 232 report on the effect of steel mill product imports on U.S. national security was submitted to President Trump by Secretary of Commerce Wilbur Ross late on Thursday, Jan. 11. The president now has 90 days to take action. Details of the report have not been released. In its announcement, the Commerce Department […]
U.S. demand for steel sheet products continued to expand through November, according to Steel Market Update’s analysis of data from the American Iron and Steel Institute (AISI) and the U.S. Department of Commerce. Apparent supply is a proxy for market demand. Demand momentum for sheet products in total was negative in the three months through […]
Anticipation is building over the Commerce Department’s Section 232 report, which is finally due to the White House in the next few days. Will its recommendations to the president on trade action to protect the national security prove to be a bombshell or a bust? Proponents of new tariffs or quotas on steel imports have […]
U.S. raw steel production for the week ending Jan. 6 totaled 1,649,000 net tons, a 5.0 percent decrease from the same period last year, but up 0.7 percent from the prior week. The mill capability utilization rate for the week averaged 70.7 percent, up from 70.2 percent the prior week but down from 74.5 percent […]
U.S. raw steel production for the week ending Dec. 30 totaled 1,637,000 net tons, a 1.9 percent increase from the same period last year, but down 4.7 percent from the prior week. The mill capability utilization rate for the week averaged 70.2 percent, down from 73.7 percent the prior week but up from 67.8 percent […]
The American Iron and Steel Institute welcomed Canada’s integrated steel company Stelco to its membership at AISI’s recent board meeting in Washington, D.C. “With its significant presence in North America, Stelco will be a great partner in our continued advocacy to fight unfairly traded foreign imports and level the playing field for the North American […]
U.S. raw steel production for the week ending Dec. 16 totaled 1,698,000 net tons, a 5.7 percent increase from the same period last year, but up 1.6 percent from the prior week. The mill capability utilization rate for the week averaged 72.8 percent, up from 71.7 percent the prior week and 67.8 percent the prior […]
Steel Market Update recently adjusted our Price Momentum Indicator to “Higher” as, in our opinion, steel buyers should anticipate flat rolled steel prices to move up over the next 30 to 60 days. During last week’s analysis of the flat rolled steel market, 78 percent of the respondents agreed with SMU, sensing that pricing momentum […]
Apparent steel supply for the month of October totaled 9,355,621 net tons, according to the latest data from the U.S. Department of Commerce and the American Iron and Steel Institute. Apparent steel supply is calculated by adding domestic steel shipments and finished U.S. steel imports, then subtracting total U.S. steel exports. October apparent steel supply […]
U.S. raw steel production for the week ending Dec. 9 totaled 1,672,000 net tons, a 4.0 percent increase from the same period last year, but down 2.8 percent from the prior week. The mill capability utilization rate for the week averaged 71.7 percent, down from 73.8 percent the prior week and 67.8 percent the prior […]
Demand for sheet products improved in the three months through October by 3.2 percent year over year, led by hot rolled and other metallic coated. Demand for Galvalume is surging at the expense of galvanized sheet, according to Steel Market Update’s latest analysis of American Iron and Steel Institute (AISI) and U.S. Department of Commerce […]
The Commerce Department’s Vietnam circumvention ruling on Tuesday represents a departure in the U.S. government’s interpretation of what constitutes adding “minor or insignificant” value to a product. This is a key issue in determining whether importation of a product from a country not directly subject to a trade remedy amounts to a “circumvention” of existing […]
U.S. raw steel production for the week ending Dec. 2 totaled 1,720,000 net tons, a 7.8 percent increase from the same period last year, and up 1.0 percent from the prior week. The mill capability utilization rate for the week averaged 73.8 percent, up from 73.0 percent the prior week and 67.3 percent the prior […]
The Global Forum on Steel Excess Capacity agreed on a framework Thursday for collectively solving the world’s steel overcapacity problem. The 33 members worked together to develop specific policy recommendations using six agreed-upon principles to formulate solutions for bringing steel capacity in line with demand and reducing trade distortions. Notable is a new sharing of […]
Imports of foreign steel will be much lower in November than at any time since April 2016. Based on the most recent license data released on Tuesday, Nov. 28, imports will be approximately 2.6 million tons. This is down from 3.1 million tons in October and is also less than the 2.8 million tons imported […]
U.S. raw steel production for the week ending Nov. 25 totaled 1,703,000 net tons, a 7.0 percent increase from the same period last year, but down 2.4 percent from the prior week. The mill capability utilization rate for the week averaged 73.0 percent, down from 74.9 percent the prior week but up from 67.1 percent […]
U.S. demand for steel sheet products continued to expand through September, according to Steel Market Update’s analysis of data from the American Iron and Steel Institute (AISI) and the U.S. Department of Commerce. Apparent supply is a proxy for market demand. Demand momentum for sheet products in total was negative in the three months through […]
U.S. raw steel production for the week ending Nov. 18 totaled 1,745,000 net tons, a 9.7 percent increase from the same period last year, and up 0.3 percent from the prior week. The mill capability utilization rate for the week averaged 74.9 percent, up from 74.6 percent the prior week and 67.1 percent the prior […]
U.S. raw steel production for the week ending Nov. 11 totaled 1,739,000 net tons, a 9.3 percent increase from the same period last year, and up 1.4 percent from the prior week. The mill capability utilization rate for the week averaged 74.6 percent, up from 73.6 percent the prior week and 67.1 percent the prior […]
Apparent steel supply for the month of September totaled 9,144,648 net tons, according to the latest data from the U.S. Department of Commerce and the American Iron and Steel Institute. Apparent steel supply is calculated by adding domestic steel shipments and finished U.S. steel imports, then subtracting total U.S. steel exports. September apparent steel supply […]
U.S. raw steel production for the week ending Nov. 4 totaled 1,715,000 net tons, a 9.0 percent increase from the same period last year, but down 1.4 percent from the prior week. The mill capability utilization rate for the week averaged 73.6 percent, down from 74.6 percent the prior week and 68.7 percent the prior […]