ArcelorMittal’s NAFTA segment saw crude steel production decrease 5.2 percent to 5.6 million metric tons in the fourth quarter due to operational issues in Mexico, planned maintenance at Dofasco, and a slower U.S. market. Steel shipments declined 8.9 percent to 4.2 million metric tons, primarily driven by lower volumes in flat and long products. Sales […]
U.S. automotive sales were a mixed bag in January. General Motors’ sales climbed mildly by 1.3 percent. Ford and FCA saw sales drop, while Toyota gained 16.8 percent year over year. Asian manufacturers, in general, did well in January. Mazda had its best January since 1994, reporting double-digit growth along with Kia and Nissan. Honda […]
The automotive industry downturn is slight, especially considering the past two years have been record years, said Bernard Swiecki, Senior Automotive Analyst at the Center for Automotive Research, during a presentation Jan. 25 at the regional meeting of the Association of Steel Distributors. Total light vehicle sales slipped 1.8 percent in 2017, but the […]
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 […]
Planned maintenance outages at AK Steel contributed to a net loss of $107.9 million in the fourth quarter. Net sales during the quarter increased 5 percent to $1.5 billion, however, driven by incremental sales from recently acquired Precision Partners. Flat rolled shipments declined to 1,337,100 tons in the quarter from 1,385,500 tons in Q4 2016 […]
“We don’t just sell to each other–this is a kind of unique relationship in the world…we make things together,” said Canada International Trade Minister François-Philippe Champagne in a recent speech. Center for Automotive Research analyst Bernard Swiecki referred to the quote as a summary of what NAFTA means to the North American automotive industry. “We […]
In its year-end 2017 financial report, Nucor delivered its highest annual earnings since 2008. Consolidated net sales increased 25 percent to $20.25 billion, compared with $16.21 billion for fiscal 2016. Shipments to outside customers during 2017 totaled 26,492,000 tons, an increase of 9 percent from fiscal 2016. Average sales price per ton increased 15 percent. […]
The sixth round of NAFTA talks closed on Monday with the U.S. Trade Representative rejecting proposals by Canada and lamenting the slow pace of the renegotiations. “We finally began to discuss the core issues, so this round was a step forward,” Robert Lighthizer said. “But we are progressing very slowly. We owe it to our […]
AK Steel announced today that it will increase current spot market base prices for all carbon flat-rolled steel products by a minimum of $30 per ton, effective immediately with new orders. This latest price hike follows a $40 increase announced by the steelmaker in early January. AK Steel is a producer of flat-rolled carbon, stainless […]
As plugged into Washington as they may be, the leadership of the Steel Manufacturers Association is in the dark on Section 232, just like everyone else. Queried by reporters last week during SMA’s board meeting in Florida, the trade group’s officers could offer no inside information on what to expect from President Trump as he […]
SSAB North America achieved higher market share in 2017. SSAB’s share of the North American steel slab market was estimated at 30 percent for the year. Full-year earnings and shipments increased compared to 2016. Sales for the full year were SEK 12.7 billion ($1.6 billion) and shipments 1,971,000 metric tons (2.17 million short tons). Fourth-quarter […]
ArcelorMittal announced that it will invest CAD $70 million (U.S. $56.8 million) in its Contrecoeur, Quebec, wire rod and bar facilities. Two reheating furnaces will be replaced at Contrecoeur-East wire rod mill and its Contrecoeur-West steel bar mill. The furnaces will increase the company’s rolling capacity by 100,000 metric tons with greater efficiency and reduced […]
Auto and light truck production continued to decelerate in December, even in Mexico, according to the latest Steel Market Update analysis of auto production in the NAFTA region. U.S. Vehicle Sales Economy.com reported that a tumultuous 2017 ended on a high note. “U.S. December vehicle sales posted a seasonally adjusted annualized rate of 17.85 million […]
NAFTA negotiations officially resumed on Sunday, Jan. 21, in Montreal and will continue through Monday, Jan. 29. Three days will be devoted to automotive rules of origin, one of the most contentious items on the agenda. While arguments continue about automotive content in NAFTA discussions, Canada is ensuring its place in automotive global trade by […]
The fire at AK Steel’s Middletown Works has had little effect on the steel market, at least so far, report service center executives polled by Steel Market Update. Firefighters from four departments rushed to the mill on Saturday morning to find that a ladle had malfunctioned, releasing liquid steel into the facility, igniting a large […]
Last year was a record breaker for Steel Dynamics in multiple areas. The company reported records for steel shipments, fabrication shipments, net sales, operating income and EBITDA. Annual net income totaled $813 million compared to $382 million in 2016. Net sales for the full year totaled $9.5 billion compared to $7.8 million the previous year. […]
Future automotive trends reinforce the role of steel, says Greg Ludkovsky, vice president of global R&D for ArcelorMittal. In the following commentary, Ludkovsky contends that steel offers the optimal balance of strength, performance and mass reduction with the least impact on the environment compared to aluminum and other materials: While sales of battery electric vehicles […]
Future automotive trends reinforce the role of steel, says Greg Ludkovsky, vice president of global R&D for ArcelorMittal. In the following commentary, Ludkovsky contends that steel offers the optimal balance of strength, performance and mass reduction with the least impact on the environment compared to aluminum and other materials: While sales of battery electric vehicles […]
Both the steel and aluminum sectors have made major strides in supplying automakers with new, strong-but-light materials to take weight out of vehicles and boost their miles per gallon while lowering harmful tailpipe emissions. But to meet the current federal requirements for 2025, which call for a fleetwide average of over 50 mpg, the auto […]
The tug-of-war between steel and aluminum for a greater share of the lucrative automotive materials market will be on full display beginning this week at the North American International Auto Show. The Detroit auto extravaganza will run from Jan. 13-28, showcasing the latest and greatest in automotive design as carmakers strive to wow consumers and […]
“We have much work to do to reach an agreement that serves the economic interests of the American people. Our goals are clear: we must achieve fair and reciprocal trade between our two nations,” said Ambassador Robert Lighthizer during a meeting Jan. 5 with Korean representatives in Washington to advance talks on the U.S.-Korea Free […]
Zinc reached a 10-year high on Thursday, closing at $3,364 per metric ton on the London Metal Exchange. Zinc, used for galvanizing metals, has nearly doubled in price over the past two years as supplies have tightened. At the same time, demand has increased. Chinese demand grew by 2.1 percent last year, and U.S. demand […]
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 […]
Union Partners announced the acquisition of Heidtman Steel’s Automotive Steel Technical Center in Gibraltar, Mich. Union will use the steel testing and research facility to bring new advanced high-strength and ultra-high-strength steels to the marketplace. The acquisition also provides the opportunity for future expansion to over 150,000 square feet at the company’s existing Gibraltar facility. […]
Through November, Mexico continued to take a greater share of light vehicle assemblies from the U.S. and Canada. U.S. Vehicle Sales At the close of 2017, the Big Three U.S. auto makers see their market share closing in on less than 44 percent, down from over 50 percent in 2007. This comes as analysts are […]
Steel Dynamics Inc. provided guidance on fourth-quarter earnings, predicting a lower sequential quarter. Planned outages at the company’s flat rolled divisions resulted in higher costs and lower value-added shipments, reducing pretax earnings by approximately $27 million. Flat rolled steel pricing declined at a steeper rate than prices for scrap raw material. The long products division […]
Union workers at AK Steel Dearborn have ratified a new contract covering 1,180 employees through July 31, 2021. Hourly production and maintenance workers at Dearborn are represented by the United Auto Workers, Local 600. AK Steel CEO Roger Newport said, “We are pleased to have reached an agreement with our hourly employees at Dearborn Works. […]
It’s a real possibility the United States may withdraw from the North American Free Trade Agreement. Despite pleas from Republican and Democratic senators, agriculture industry leaders, automotive executives, the United Steelworkers, trucking associations and many others, President Trump, Trade Representative Robert Lighthizer and Commerce Secretary Wilbur Ross appear undeterred in their march to tear up […]
ArcelorMittal’s new headquarters in Luxembourg will be a testament to the strength and beauty of steel. The primarily steel and glass structure designed by Wilmotte & Associés will “showcase the diverse benefits of steel over other building materials,” said ArcelorMittal in a press release. Approximately 5,000 to 7,000 metric tons of steel produced in Luxembourg […]
Nucor offered fourth-quarter guidance on Wednesday, forecasting a decrease in earnings compared to the third quarter. Fourth-quarter results are expected to be in the range of $0.50 to $0.55 per diluted share compared to third-quarter consolidated net earnings of $0.79 per diluted share and comparable to year-ago earnings. Imports continue to negatively impact the U.S. […]