The Keystone XL Pipeline was given approval by the new administration through executive order last Tuesday. Since that time there has been a flurry of speculation on what kind of benefit building the pipeline will provide to the U.S. steel Industry. “We are — and I am — very insistent that if we’re going to […]
President Donald Trump signed an executive order on Tuesday giving permission for the Keystone XL oil pipeline project to advance as quickly as possible. While the announcement prompted mixed reaction in the United States, TransCanada said it appreciates the president’s invitation to proceed and will re-submit its application to do so. “KXL creates thousands of […]
The Environmental Protection Agency announced fuel economy standards for 2025 on Friday, rejecting appeals to roll-back miles per gallon requirements for fleet-wide fuel efficiency. The 2025 target will remain unchanged at an average of 50.8 miles per gallon. “My decision today rests on the technical record created by over eight years of research, hundreds of […]
According to the latest data released from the U.S. Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of November 2016 was 8,144,758 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports. November apparent […]
According to the latest data released from the U.S. Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of October 2016 was 8,338,361 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports. October apparent […]
The fifteenth anniversary of China’s accession to the World Trade Organization has passed without China receiving its coveted market economy status. The United States, European Union and Japan said they will continue to treat China as a non-market economy. A change in status would protect Chinese exporters from tariffs that the U.S., EU and others […]
This report summarizes total steel supply from 2003 through October 2016 and year on year changes. It then compares domestic mill shipments and total supply to the market. It quantifies market direction by product and enables a side by side comparison of the degree to which imports have absorbed demand. Sources are the American Iron […]
There has been a great deal of discussion on how the Trump administration will affect manufacturing and the steel industry in the coming months. Steel Market Update asked AISI and domestic steel mills what regulations they would like to see repealed under the new administration and what kind of environment for steel and manufacturing they […]
According to the latest data released from the U.S. Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of September 2016 was 8,106,754 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports. September apparent […]
AISI, Washington, D.C. (Oct. 27, 2016) – The American Iron and Steel Institute (AISI) today submitted comments to the Trade Policy Staff Committee (TPSC) on USTR’s 2017 National Trade Estimate Report (NTE) on Foreign Trade Barriers. This submission marks the fifth year in a row that AISI has documented the foreign trade barriers that distort […]
The conversation has begun regarding when flat rolled steel prices will end their slide and reverse course. Flat rolled steel prices have been in a steep decline since mid-June 2016 when benchmark hot rolled prices peaked at $635 per ton ($31.75/cwt, SMU index average) FOB domestic mill. Since then steel prices have retreated $145 per […]
This report summarizes total steel supply from 2003 through August 2016 and year on year changes. It then compares domestic mill shipments and total supply to the market. It quantifies market direction by product and enables a side by side comparison of the degree to which imports have absorbed demand. Sources are the American Iron […]
According to the latest data released from the U.S. Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of August 2016 was 9,115,482 net tons and the percentage of imports was 26.2 percent of the market. Apparent steel supply is calculated by adding domestic steel shipments and finished […]
The week ending September 17, 2016 domestic raw steel production was 1,632,000 net tons while the capability utilization rate was 69.8 percent. Production was 1,687,000 net tons in the week ending September 17, 2015 while the capability utilization then was 70.5 percent. The current week production represents a 3.3 percent decrease from the same period […]
This report summarizes total steel supply from 2003 through July 2016 and year on year changes. It then compares domestic mill shipments and total supply to the market. It quantifies market direction by product and enables a side by side comparison of the degree to which imports have absorbed demand. Sources are the American Iron […]
The Congressional Steel Caucus introduced a House resolution last week that calls for the Administration to take action regarding non-market economy (NME) countries to protect U.S. manufacturing jobs and economic security. Chairman Tim Murphy (R-Pa) and Vice-chairman Peter J. Visclosky (D-IN) introduced the bill, along with 23 bipartisan cosponsors, that addresses market-distorting policies and subsidization […]
According to the latest data released from the U.S. Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of July 2016 was 9,095,385 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports. July apparent […]
The American Iron and Steel Institute (AISI) released their weekly assessment of the domestic steel mills raw steel production for the week ending September 3, 2016. The AISI reported production as being 1,656,000 net tons with a capacity utilization rate of 70.8 percent. The production rate (based on approximately 50 percent of the industry providing […]
The G20 group of nations released their thoughts regarding excess steel capacity and what they are doing to rectify the situation (essentially they are kicking the can to 2017 when they will meet again and hear from an OECD committee on the subject). China has promised to cut steel production by 45 million metric tons […]
This report summarizes total steel supply from 2003 through June 2016 and year on year changes. It then compares domestic mill shipments and total supply to the market. It quantifies market direction by product and enables a side by side comparison of the degree to which imports have absorbed demand. Sources are the American Iron […]
According to the latest data released from the U.S. Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of June 2016 was 9,098,316 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports. June apparent […]
AISI, WASHINGTON, D.C. – Thomas J. Gibson, president and CEO of the American Iron and Steel Institute (AISI), today testified before the Senate Banking Committee’s hearing on “Evaluating the Financial Risks of China.” Gibson highlighted global steel overcapacity, market distortions created by China’s state-controlled steel industry and China’s market economy status, among other issues. The […]
This report summarizes total steel supply from 2003 through May 2016 and year on year changes. It then compares domestic mill shipments and total supply to the market. It quantifies market direction by product and enables a side by side comparison of the degree to which imports have absorbed demand. Sources are the American Iron […]
According to the latest data released from the U.S. Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of May 2016 was 8,957,525 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports. May apparent […]
SMU received a couple of inquiries about sheet shipments and one of our Premium customers had a specific question about the data presented in one of our Premium supplemental issues last week. We thought that we should share the data and then present at the end the question and our response for all of our […]
According to the latest data released from the U.S. Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of April 2016 was 8,634,917 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports. April apparent […]
This report summarizes total steel supply from 2003 through April 2016 and year on year changes. It then compares domestic mill shipments and total supply to the market. It quantifies market direction by product and enables a side by side comparison of the degree to which imports have absorbed demand. Sources are the American Iron […]
The US Treasury Secretary told Chinese students at Tsinghua University that excess steel capacity is distorting the world market. The comments came ahead of talks in Beijing between the US and China on trade and security. “Excess capacity is not just a domestic issue in China,” said Treasury Secretary Jacob Lew. “The question of excess […]
This report summarizes total steel supply from 2003 through March 2016 and year on year changes. It then compares domestic mill shipments and total supply to the market. It quantifies market direction by product and enables a side by side comparison of the degree to which imports have absorbed demand. Sources are the American Iron […]
US Steel has spearheaded an attempt to exclude all Chinese steel products from the U.S. market. But as is usually the case with drastic actions, there are a number of opponents to the move. Companies that use foreign steel in their products have asked the U.S. International Trade Commission to throw the complaint out. Steel […]