Marking a win for U.S. steelmakers, the Commerce Department on Monday officially slapped duties on corrosion-resistant steel (CORE) and certain cold rolled steel products imported from Vietnam that were produced from substrate originating in China. Commerce determined that even though the products underwent some processing in Vietnam, they should still be subject to the same […]
Have you ever experienced the dizzying sensation of vertigo? Perhaps you were on a Steel Market Update workshop tour and felt woozy as you ascended higher and higher on the catwalks during the mill tour. ArcelorMittal South Africa recognized the danger that a fear of heights could cause employees who work in extreme conditions and […]
Have you ever experienced the dizzying sensation of vertigo? Perhaps you were on a Steel Market Update workshop tour and felt woozy as you ascended higher and higher on the catwalks during the mill tour. ArcelorMittal South Africa recognized the danger that a fear of heights could cause employees who work in extreme conditions and […]
The U.S. steel industry continues to find new ways to help automakers lighten vehicles for better fuel efficiency. One of the latest developments is by ArcelorMittal in partnership with Honda. Engineers from the two companies designed the industry’s first hot-stamped, laser-welded inner and outer door ring using ultra-high-strength steel. The system replaces conventional multi-piece, spot […]
Distributors of products for the HVAC sector expect prices for steel, especially galvanized, to drop in the coming weeks or months. Demand remains strong, they report, but they are keeping inventories lean in anticipation of declining prices. “There is a greater likelihood that prices will go down than go up. With the lead times being […]
ArcelorMittal NAFTA posted sales of $4.8 billion for the first quarter of 2018, up 10.6 percent sequentially. Steel shipments increased 4.8 percent from the fourth quarter to 5.9 million metric tons driven by higher volume of flat products due to improved market fundamentals. Average selling price increased 3.5 percent for flat products and 9.1 percent […]
The Association for Iron & Steel Technology announced the appointment of a new president and slate of officers for 2018-2019. James Dudek, vice president, Asset Revitalization and Manufacturing Excellence, U.S. Steel Corp., Pittsburgh, Pa., will assume the presidency of AIST. Dudek succeeds Randy Skagen, vice president and general manager, Nucor Steel Tuscaloosa. Dudek said he […]
Italian steel mill Ilva will finally have a new owner. The European Commission has granted approval for the acquisition by global steel producer ArcelorMittal. “EC merger clearance follows the conclusion of the Commission’s Phase II investigation into the proposed acquisition of Ilva, and has been granted on the basis that the Company has committed to […]
The American Iron and Steel Institute (AISI) announced on Tuesday that Lakshmi N. Mittal, chairman and CEO of ArcelorMittal, is the 2018 recipient of AISI’s highest award, The Gary Medal. The award was presented at a lunch ceremony at AISI’s General Meeting in Washington earlier this week. In presenting the award, AISI president and CEO, […]
The American Iron and Steel Institute has elected Roger Newport, chief executive officer of AK Steel Corp., to serve as chairman of AISI through May 2020. “Roger Newport is one of the global steel industry’s most respected and influential leaders, and is a tireless advocate for the North American steel industry. Whether it be meeting […]
The American Iron and Steel Institute’s (AISI) Board of Directors have elected Roger Newport, chief executive officer and member of the board of directors, AK Steel Corporation, to serve as chairman of the Institute, through May 2020. “Roger Newport is one of the global steel industry’s most respected and influential leaders, and is a tireless […]
ArcelorMittal Dofasco is undertaking a massive upgrade to its hot mill operations to improve quality and productivity. With help from a $23 million grant and loan from the province, ArcelorMittal is investing $151 million to develop advanced high-strength steels that are in demand by the auto industry. The Canadian steelmaker will replace three aging coilers […]
I was asked if plate price momentum was also at neutral as we had just adjusted our flat rolled price momentum indicator away from higher to the neutral designation. To be honest, we haven’t actually incorporated plate into having its own index and it probably needs one. Plate prices don’t always move in sync with […]
The following article on the hot rolled coil (HRC) futures market was written by David Feldstein. As the Flack Global Metals Director of Risk Management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
ArcelorMittal said it will sell off assets in order to secure its acquisition of Italian steel mill Ilva. The proposed divestment package includes: ArcelorMittal Piombino, the company’s only galvanized steel plant in Italy ArcelorMittal Galati, Romania ArcelorMittal Skopje, Macedonia ArcelorMittal Ostrava, Czech Republic ArcelorMittal Dudelange, Luxembourg Hot-dipped galvanizing lines 4 and 5 in Flemalle; hot-rolled […]
Commerce announced an affirmative final decision in the antidumping investigation concerning imports of cold-drawn mechanical tubing from China, Germany, India, Italy, Korea, and Switzerland. In addition, Commerce found that “critical circumstances” exist with respect to Dalmine S.p.A. and Metalfer S.p.A., but not with respect to all other producers/exporters in Italy; Sang Shin Ind. Co., Ltd., […]
Bidding for bankrupt Essar Steel is back to square one after offers from Numetal and ArcelorMittal were declared ineligible by lenders. The bids were rejected under the amended Insolvency and Bankrupcty Code that prohibits related parties and insolvency-linked parties from bidding. ArcelorMittal India was involved in a joint venture in Uttal Gallva, which defaulted on […]
Steel Market Update’s 8th Steel Summit Conference will be held at the Georgia International Convention Center on Monday, Aug. 27, through Wednesday, Aug. 29, 2018. We’ve been watching the markets very carefully as we put together our final agenda and have worked hard to select the best speakers possible. On Friday, we added AK Steel […]
Steel Market Update’s 8th Steel Summit Conference will be held at the Georgia International Convention Center on Monday, Aug. 27, through Wednesday, Aug. 29, 2018. We’ve been watching the markets very carefully as we put together our final agenda and have worked hard to select the best speakers possible. On Friday, we added AK Steel […]
President Trump wants the NAFTA talks concluded before upcoming elections in Mexico and the U.S., as he told Canadian Prime Minister Justin Trudeau in a phone call on Monday. Trudeau has been meeting with Canadian steel and aluminum workers this week with stops planned at Stelco and ArcelorMittal Dofasco on Tuesday. The call came on […]
Shipping in the freight market was significantly better in the first quarter than it was during the same period last year, said MID-SHIP Group in its March 8 report. New ships are on order that will not hit the market until the end of 2109 or 2020 and for now the freight market remains bullish. […]
OK, the Section 232 announcement has been made. Canada and Mexico are in the clear (for the moment) and the president’s attention is now on North Korea and other issues not related to the economy. My advice, don’t panic (unless you haven’t bought any steel over the past few months, in which case you are […]
NLMK USA told Steel Market Update this afternoon that if the 25 percent tariff on steel, and specifically on steel slabs, goes into effect, the future of their company and the people who work for it is in jeopardy long term. Steel Market Update spoke with Bob Miller, President of NLMK USA and Executive Vice […]
NLMK USA told Steel Market Update this afternoon that if the 25 percent tariff on steel, and specifically on steel slabs, goes into effect, the future of their company and the people who work for it is in jeopardy long term. Steel Market Update spoke with Bob Miller, President of NLMK USA and Executive Vice […]
The threats of Section 232 tariffs and the possible withdrawal of the United States from NAFTA have not swayed ArcelorMittal from its commitment to invest $1 billion in its Mexican operations. In a statement reported on Friday, a spokesman for the integrated steelmaker said the company has no intention of changing its plans for Mexico, […]
ArcelorMittal announced the appointment of Aditya Mittal as President, ArcelorMittal and CEO of ArcelorMittal Europe. The promotion is in addition to his continued responsibilities as Chief Financial Officer. Chairman and CEO Lakshmi Mittal commented, “Aditya has proved himself an effective and accomplished manager as Group CFO and CEO of our European operations, delivering results and […]
ArcelorMittal (AM) and Nippon Steel & Sumitomo Metal Corp. (NSMMC) have teamed up to acquire and operate financially troubled Essar Steel India Ltd. (ESIL). The joint venture is still subject to regulatory approval. ESIL operates one of India’s largest integrated mills with annual capacity of 10 million tons. It manufactures hot rolled, cold rolled and […]
The U.S. steel industry reacted with enthusiasm to the president’s decision to impose a 25 percent tariff under Section 232 on steel imports to the United States. Nucor Chairman and CEO John Ferriola said in a statement, “The president has consistently been a strong advocate for holding other countries accountable that systematically and flagrantly violate […]
The market is moving very quickly now as issues of supply begin to raise their ugly heads. The issues at California Steel Industries (CSI) have spooked the market and steel mills are abondoning the process of announcing price increases prior to raising prices. In reality, prices have already gone up $50 per ton from the […]
The SMU Steel Summit Conference is THE fastest growing steel conference in North America and THE one conference manufacturing, distribution, suppliers to the industry and steel mills want to attend. Details about the agenda, speakers, location and costs, as well as how to register, can be found on our website: www.SteelMarketUpdate.com/Events/Steel-Summit or you can contact […]