Raw steel production by US mills fell further last week, bringing output to its lowest weekly total all year. Last week’s result kept both utilization and production at their lowest levels since the week of Dec. 26, 2020, according to the latest data from the American Iron and Steel Institute (AISI). Domestic steel output was […]
Raw steel production by US mills edged back down last week. The marginal week-on-week (WoW) decline brought output to its lowest weekly total all year, keeping both utilization and output at their lowest levels in nearly two years, according to the latest data from the American Iron and Steel Institute (AISI). Domestic steel output was […]
As this year winds down, many have 2023 business on their minds. Reports of waning demand have contributed to pessimism among buyers. But the domestic steel industry has reason for optimism heading into the New Year, according to the top executives at steel’s two leading trade associations. Steel Market Update spoke with Phil Bell, president of […]
US raw steel production slipped 400,000 net tons to 7.22 million tons in September, down 5% from August, according to recently released American Iron and Steel Institute (AISI) data. September represents the third lowest monthly production rate seen since 2020, behind February 2021 and February 2022. Production continues to trend downward since peaking in mid-2021. […]
Raw steel production by US mills edged up last week, ending a three-week slide. The marginal week-on-week (WoW) increase did little for production, keeping utilization and output at their lowest levels in nearly two years, according to the latest data from the American Iron and Steel Institute (AISI). Capability utilization has now been below the 80% […]
Imported sheet and plate products arrived at US ports at a slower clip in September, accounting for a lower share of the domestic market for the third straight month. That’s according to a Steel Market Update analysis of import data from the US Commerce Department and domestic shipment figures from the American Iron and Steel […]
Total US mill shipments of steel products were down in September, falling to their lowest total year-to-date (YTD). Mill shipments have been fluctuating up and down all year with little consistency. September’s shipments totaled 7.58 million tons, a 7.2% decline from August’s 8.18 million tons, and the lowest total since February 2021. Apparent supply also saw a […]
The US Department of Commerce said on Thursday that it would no longer consider Russia a market economy in antidumping cases. The move could allow for higher duties on Russian imports in trade cases going forward. An analysis done by third parties for Commerce found that Russia’s government has had considerable involvement in its economy, […]
US apparent steel supply eased further in September, down 8% from August to 8.29 million net tons, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI). As the lowest monthly figure since February 2021, this was a 19-month low. September supply was 10% below the average monthly rate […]
Raw steel production by US mills continued to slide for a third consecutive week, keeping utilization and output at their lowest levels in nearly two years, according to the latest data from the American Iron and Steel Institute (AISI). Capability utilization has now remained below the 80% mark for 17 straight weeks. Domestic steel output was […]
Editor’s note: SMU Contributor Michael D’Angelo is a researcher and trader at Marex. In his role, Mike performs fundamental and quantitative analysis, which directly leads to actionable trading/risk management strategies across the base, precious, and ferrous metals derivative spaces. Prior to joining Marex, Mike received a BA in economics with a minor in finance from Princeton […]
Editor’s note: SMU Contributor Michael D’Angelo is a researcher and trader at Marex. In his role, Mike performs fundamental and quantitative analysis, which directly leads to actionable trading/risk management strategies across the base, precious, and ferrous metals derivative spaces. Prior to joining Marex, Mike received a BA in economics with a minor in finance from Princeton […]
The US and European Union are making good on their efforts to speed up global steel discussions. US Trade Representative Katherine Tai and European Commission Executive Vice President Valdis Dombrovskis met on Oct. 30 for the second time in several weeks. At the forefront of their meeting were discussions about carbon intensity and overcapacity in steel and […]
Raw steel production by US mills slipped again last week, pushing utilization to its lowest rate since the week ended Dec. 26, 2020. Capability utilization has now remained below the 80% mark for 16 straight weeks. Domestic steel output was 1,663,000 net tons in the week ending Oct. 29, its lowest level since it totaled 1,650,000 […]
Raw steel production by US mills dropped last week, and capability utilization remains below 80%, where it’s now stayed for 15 straight weeks. Rate at or above 80% are considered healthy. Recall that utilization below the 80% benchmark contributed to the 2018 implementation of Section 232 tariffs. Domestic steel output was 1,669,000 net tons in the week […]
Although operating rates at its steel mills declined slightly from the second to third quarter, Steel Dynamics Inc. continues to demonstrate higher utilization rates than the US industry as a whole. The company’s overall Q3 utilization rate was 93%, down two percentage points from the 95% rate achieved in Q2, SDI chairman, president, and CEO Mark […]
Total US mill shipments of steel products were down in August, slipping to their second-lowest total year-to-date (YTD). Mill shipments have been fluctuating up and down all year with little consistency. August’s shipments totaled 8.04 million tons, a 0.9% decline from July’s 8.11 million tons. Apparent supply also saw a month-on-month (MoM) decline in August, down 1.3% […]
Raw steel production by US mills rose modestly last week, but capability utilization remans below 80%. Utilization rates haven’t eclipsed 80% in 14 weeks. This matters because rates at or above 80% are considered healthy. Indeed, rates below that level were part of the justification for the implementation of Section 232 tariffs in 2018. Domestic steel output […]
Imported sheet and plate products arrived at US ports at a slower clip in August, resulting in them accounting for a lower share of the domestic market for the second straight month, according to a Steel Market Update analysis of import data from the US Commerce Department and domestic shipment figures from the American Iron […]
US apparent steel supply declined 3% in August to 8.98 million net tons, according to the latest US Department of Commerce and American Iron and Steel Institute data. This is the lowest figure since February 2022 and the second lowest figure in the past 16 months. August supply levels are 4% below the average monthly […]
Raw steel production by US mills slipped back down last week, unable to maintain the slight uptick seen the week prior. Last week’s utilization also edged down compared to the previous week. Utilization rates haven’t eclipsed the 80% mark in 14 weeks, the longest run since the pandemic. Domestic steel output was 1,680,000 net tons in […]
Raw steel production by US mills saw a slight uptick. Last week’s utilization is only modestly elevated compared to the previous week’s. Utilization rates haven’t eclipsed the 80% mark in thirteen weeks, the longest run since the pandemic. Domestic output was 1,700,000 net tons in the week ending Oct. 1, while capacity utilization was 77.1%, according […]
Raw steel production by US mills took another slight hit. Last week’s utilization is the lowest since the week of Feb. 13, 2021, and the lowest total output since the week of Jan. 2, 2021. Utilization rates haven’t eclipsed the 80% mark in twelve weeks, the longest run since the pandemic. Domestic output was 1,683,000 net tons […]
Total mill shipments of steel products were largely sideways in July, up marginally when compared to June. Mill shipments have been fluctuating up and down all year with little consistency. July’s mill shipments totaled 8.11 million tons, a 0.3% increase from June’s 8.09 million tons. Apparent supply also saw a slight gain in July, up just 1.1% […]
SSAB Americas is forging ahead to show customers, the government, and other stakeholders that it is serious about sustainability and achieving its ultimate goal of “net zero” emissions. The flat-rolled steelmaker recently released Environmental Product Declarations (EPDs) for its steel plate and coil products that show it is well ahead not just of others in […]
To stimulate the development of low-carbon, made-in-America materials, the Biden administration has announced new activities under the Federal Buy Clean Initiative. An announcement made by the White House on Sept. 15 in Toledo, Ohio, noted that the Federal Government will prioritize the purchase of essential low-carbon construction materials, covering 98% of materials purchased by the […]
On the heels of a lengthy arbitration period, union negotiators and the major rail companies have settled on a tentative labor agreement to further avoid a strike. A statement made on Sept. 15 by the US Department of Labor noted, “Moments ago, following 20 consecutive hours of negotiations at the Department of Labor, rail companies […]
The American Iron and Steel Institute (AISI) called on Congress to intervene in the ongoing nationwide rail negotiations to ensure a successful resolution is reached. In a Sept. 14 letter on behalf of the American steel producers AISI represents, Kevin Dempsey, the association’s president and CEO expressed concerns about “the state of ongoing labor negotiations in […]
A potential nationwide rail strike could wreak havoc on the steel industry, association executives warned, negatively impacting the shipment of finished and semi-finished steel products as well as steelmaking raw materials. “Our supply chains are stressed and any disruption in freight rail service will hurt our economy by adding costs and delays to a rail […]
Raw steel production by US mills recovered last week after declining for two straight weeks. Despite the week-on-week (WoW) gain, the total was still the second-lowest total since February 2021, while utilization rates haven’t eclipsed the 80% mark in ten weeks. Domestic output was 1,723,000 net tons in the week ending Sept. 10, while capacity […]