Tag: Canada

Nippon Steel and a Japanese trading company have entered an agreement to buy a 49% interest in a Champion Iron ore project in Canada.

The volume of steel exported from the country declined in October for the second-consecutive month, following a one-year high in August.

Monthly imports have remained within a relatively narrow range since June, significantly lower than volumes seen earlier this year, but stronger than late-2023 levels.

The Canadian government estimates steel and aluminum imports from China will decrease by nearly 50% due to newly implemented tariffs.

The president-elect has wasted no time in using the threat of tariffs to reopen negotiations and, ideally, score other political wins along the way.

Canada has launched its own investigation into the dumping of corrosion-resistant steel sheet. Unlike the sprawling coated case underway in the US, this one will look at coated imports from just one country and company.

About 23% of respondents expect an uptick in economic activity in the next three months. That’s an increase over the 13% in October.

American and Canadian steel trade groups, as well as the government of Mexico, have responded to President-elect Trump's threat of imposing 25% tariffs on all US imports from Canada and Mexico and a 10% tariff on imports from China.

President-elect Donald Trump threatened on social media Monday evening to impose tariffs of 25% on all US imports from Canada and Mexico.

Cleveland-Cliffs' Lourenco Goncalves said the company will install a new stove at Stelco’s blast furnace in Nanticoke, Ontario.

US rig activity has remained in multi-year low territory since June. Drilling in Canada has edged lower across the last few weeks but remains historically strong.

North American auto assemblies rallied in October, rising 11.3% above September, reaching the best output year to date. Assemblies were also up 7% year on-year (y/y), according to LMC Automotive data.

After rising to a one-year high in August, the volume of steel that exited the country in September fell 10% month on month (m/m) to 760,000 short tons (st).

September steel imports were 10% less than August levels, marking the lowest monthly import rate seen this year

Canada’s Stelco Holdings Inc. is now officially owned by Cleveland-Cliffs Inc.

The Canadian government announced a remission process for businesses for recently announced tariffs on Chinese steel and aluminum products and electric vehicles .

North American auto assemblies fell by nearly 7% from August, but were still ahead of July’s 20-month low. Assemblies were also down just under 1% year on year (y/y), according to LMC Automotive data.

August steel imports totaled 2.38 million short tons (st) according to final data released this week by the US Commerce Departmen

US drill rig activity saw a slight increase from last week but continues to hover near multi-year lows. In Canada, rig counts dipped last week but near one of the highest levels recorded in the past seven months.

China is challenging Canada’s decision to put tariffs on imports of Chinese steel, aluminum, and electric vehicles.

US drilling activity remains near multi-year lows, while Canadian counts increased to one of the highest levels recorded in seven months.

US rig counts remain near multi-year lows, which is the territory they have been in for the last three months. Canadian counts have edged lower in the past two weeks, slipping from a six-month high earlier this month.

In a candid fireside chat with SMU Senior Analyst/Editor David Schollert, Stelco’s CEO Alan Kestenbaum opened up about Stelco’s pending sale to Cliffs, his business strategy, outlook for the industry, and plans for the future. The chat took place on Tuesday, Aug. 24, at the 2024 SMU Steel Summit in Atlanta.

CRU Aluminum Analyst Marziyeh Horeh shares a roundup of news making headlines in the aluminum markets this week.

Canada has announced a 25% tariff on Chinese steel and aluminum, along with a 100% tariff on Chinese EVs.

Canada’s government has ordered an end to the brief rail stoppage which had threatened to disrupt the movement of commodities.

Two rail providers have locked out union workers at their operations in Canada.

A work stoppage could hit Canada’s rail network as two rail companies have said they will lock out union workers on Thursday if no labor agreement is reached.

Despite this summer’s “challenging near-term pricing and uncertain macroeconomic conditions,” Algoma Steel CEO Michael Garcia said the company is focusing on what it can control: operating safely, providing exceptional customer service, and successfully executing its capital programs.

North American auto assemblies slumped by more than 14% from June, falling to a 20-month low in July. Assemblies were also down 1.5% year on year (y/y), according to LMC Automotive data.