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 […]
Cleveland-Cliffs has announced a sheet price hike of $50 per ton ($2.50 per cwt) and new base prices for hot-rolled coil of $800 per ton ($40 per cwt). The big question now is not whether prices will continue to go up one or two weeks from now, but whether a price rally that began after […]
Raw steel production by US mills rebounded last week for the first time in five weeks as capacity utilization rose to just 71.7%, according to data released by the American Iron and Steel Institute (AISI) on Tuesday, Jan. 17. The increase came driven by increases in tons in the Great Lakes, Midwest, and South. Domestic […]
Editor’s note: Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. Total US mill shipments of steel products slipped in November and reached their lowest total year to date (YTD). Mill shipments have been fluctuating up and down all year […]
Raw steel production by US mills fell further last week as capacity utilization slipped to just 71.3%, according to data released by the American Iron and Steel Institute (AISI) on Monday, Jan. 9. The decline came as production was again impacted by the holidays, with mills in the Great Lakes, South, and West cutting production, […]
The Biden administration has announced $2.1 billion in funding for four nationally significant bridges in the US. This is the first round of funding from the Large Bridge Project Grants from President Biden’s competitive Bridge Investment Program, part of the Bipartisan Infrastructure Law. The Kentucky Transportation Cabinet will receive $1.385 billion to rehabilitate and reconfigure the existing […]
Raw steel production by US mills fell again last week as capacity utilization slipped to only 72.9%, according to data released by the American Iron and Steel Institute (AISI) on Monday, Dec. 19. The decline came as mills in the South and Northeast cut production, even as those in the Great Lakes, Midwest, and West […]
Imported sheet and plate products’ arrival at US ports varied in November, leading their share of the US market to diverge, even though domestic shipments declined during the 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 […]
Imported sheet and plate products arrived at US ports at a slightly higher clip in October, though their share of the US market diverged as domestic shipments varied during the 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 […]
US apparent steel supply ticked up 3% in October to 8.5 million net tons, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI). Recall that apparent supply had fallen to a 19-month low in September—so while levels increased in October, it represents the third-lowest figure recorded in […]
Total US mill shipments of steel products edged up in October, recovering slightly month on month (MoM), after falling in September to their lowest total year to date (YTD). Mill shipments have been fluctuating up and down all year with little consistency, and October was no different. October’s shipments totaled 7.65 million tons, a 0.9% increase […]
The Biden administration sent a proposition to the European Union (EU) Dec. 7 for a potential trade alliance between nations that use lower carbon emissions to produce metals. In October 2021 the US lifted the Section 232 tariffs on steel and aluminum imports from the EU, which was replaced by the tariff rate quota (TRQ) […]
Raw steel production by US mills inched up last week, gaining ground for the second straight week, according to the latest data from the American Iron and Steel Institute (AISI). Despite the increase, utilization remained below the 80% mark for the 22nd consecutive week. Domestic steel output was 1,635,000 net tons during the week ending […]
The federal government and the domestic steel industry lashed out against a World Trade Organization (WTO) decision ruling that the US violated international trade rules with Section 232 national security tariffs on steel and aluminum. The WTO on Friday, Dec. 9, ruled in favor of Norway, which challenged the Section 232 tariffs – 25% on steel and […]
Raw steel production by US mills edged up last week after declining the prior two weeks. Despite the increase, utilization remained below the 80% mark for the 21st consecutive week, according to the latest data from the American Iron and Steel Institute (AISI). Domestic steel output was 1,630,000 net tons during the week ending Dec. […]
This past week was a rather notable one in recent memory when it comes to steel prices. We saw a wave of $60-per-ton sheet price hikes announced by domestic mills. It’s somewhat of an unfamiliar sight in the industry over the past couple of years or so, but just about everyone got in on the […]
President Joseph Biden on Friday Dec. 2 signed into law a bill aimed at averting a nationwide rail strike. The law compels railroad unions to accept a tentative agreement reached in September. The unions opposed the agreement because it did not provide paid sick days. Railroad companies and the unions faced a Dec. 9 deadline to reach a […]
Legislation is pending in our nation’s capital that would force railroad unions to accept the national labor agreement proposed in September in order to avoid a labor strike. After being urged by President Joe Biden on Nov. 28 to enact the legislation, the bill was passed in the House of Representatives today, Nov. 30. It will now go […]
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 […]