SSAB and Shape Corp., have partnered to deliver fossil-free steel crash management and body structure systems to the US market, the steelmaker said. The Grand Haven, Mich.-based tier-one automotive supplier of lightweight body structures, will be testing SSAB’s HYBRIT steel – made from hydrogen-reduced sponge iron – for use in automotive applications. “We are excited […]
By CRU Economist Frank Eich and CRU Sustainability Analysts Zsombor Garzo and Lize Wan In this Insight, CRU Sustainability looks at carbon pricing schemes around the world. These schemes, which can be either in the form of carbon taxes or emission trading, are generally regarded as one of the most effective ways to mitigate climate […]
SSAB and Alfa Laval have partnered to develop a heat exchanger engineered with fossil-free steel, the first of its kind. The goal is to roll out the first unit made with hydrogen-reduced steel by 2023, SSAB said. “We’re proud to welcome Alfa Laval as a partner and look forward to jointly exploring ways forward to […]
Despite economic and geopolitical headwinds, there remains tremendous opportunity for steel and industrial metals distribution, Ryerson president and CEO Eddie Lehner during the most recent Steel Market Update Community Chat webinar. There might be debate over where rising finished steel prices will settle. But gone are the days of hot-rolled coil averaging around $600 per ton ($30 […]
The Commerce Department released a “strategic plan” to boost American competitiveness on March 28. It is long on buzzwords and short on specifics. The plan identifies some opportunities to boost American competitiveness. But it focuses too much on government subsidies and protection of entrenched domestic industries and not enough on playing to America’s most important […]
By Trade Attorney Lewis Leibowitz The White House released a long-awaited decision on the future of special safeguard remedies for the solar industry on Friday. The decision may provide a glimpse into the trade philosophy of the Biden administration. First, a bit of background. The Trump-era tariffs began in January 2018 with decisions under the […]
For those of you who participate in our bi-weekly steel market analysis questionnaires, or if you are a Premium level member, the results from the last few weeks would suggest service centers are at a point where they will support new price increases by the domestic steel mills. We collect data from manufacturing companies and […]
Wiley partner Alan Price will be the featured speaker on Steel Market Update’s next Community Chat webinar on Wednesday, Jan. 26, at 11 a.m. ET (10 a.m. CT). We’ll discuss the big issues facing steel when it comes to trade policy – with a particular focus on Section 232 developments: Will there be a deal […]
Wiley partner Alan Price will be the featured speaker on Steel Market Update’s next Community Chat webinar on Wednesday, Jan. 26, at 11 a.m. ET (10 a.m. CT). We’ll discuss the big issues facing steel when it comes to trade policy – with a particular focus on Section 232 developments: Will there be a deal […]
Wiley partner Alan Price will be the featured speaker on Steel Market Update’s next Community Chat webinar on Wednesday, Jan. 26, at 11 a.m. ET (10 a.m. CT). We’ll discuss the big issues facing steel when it comes to trade policy – with a particular focus on Section 232 developments: Will there be a deal […]
By Trade Attorney Lewis Leibowitz It’s a new year and a new start on many things. COVID does not appear to be one of them, but China relations may be. At the beginning of 2020, China and the U.S. agreed to settle some of their trade differences by inking a deal that reduced some U.S. […]
By CRU Principal Analyst Matthew Watkins and Analyst Iris Speelmanns, part of CRU’s steel and the energy transition series When we think about hydrogen and steel, we generally focus on steel supply. Hydrogen is a possible alternate reductant, replacing coke and offering a pathway to low-CO2 steel production. But a hydrogen economy could also be a huge […]
By CRU Economist Frank Eich and Sustainability Analyst Huan Chang, Nov. 22 The COP26 was heralded as a “moment of truth” in the race against climate change. In addition to the expected announcements, such as those on finance, there were also some unexpected ones, such as the pledges from the Indian government to address climate […]
By Trade Attorney Lewis Leibowitz The COP26 Glasgow conference on climate change just ended, yesterday, a day later than scheduled. The conference needed the extra day to hammer out a joint communiqué on what was agreed to and next steps. At the last moment, India threatened to torpedo the agreement because it contained strong language about phasing […]
Steel Market Update’s price range for plate products raised a few eyebrows this week. Allow me to point out a few facts about SMU pricing data. SMU provides a weekly range as reference points for you to review. The reference points come from steel buyers and from steel mills. However, we place the most emphasis on […]
By CRU Chief Economist and Head of Sustainability Jumana Saleheen and CRU Research Manager Paul Butterworth There are no low-cost options when it comes to tackling climate change. Renewable energy is not cheaper than fossil-based power once the price of investment and storage are considered. Low-carbon energy will cost more. The only way to incentivize […]
By Trade Attorney Lewis Leibowitz I summarized the newly announced trade deals between the United States and the European Union last week. I use the plural because a lot of issues were addressed in the statements that followed. Today’s column evaluates a few of the trends that are visible from these statements – notably on […]
Mill executives have been front and center over the past couple weeks during their earnings calls and the annual gathering of AISI and SMA members in Washington. Below is a sampling of some of their more notable remarks: • Just because the U.S. and EU managed to negotiate a quota to replace the controversial Section […]
Speaking at a steel industry gathering just two days after unveiling the historic trade deal she helped negotiate with the European Union, U.S. Trade Representative Katherine Tai described the progress made in steel trade and the challenges that still lie ahead in curbing global steel overcapacity. Following are her remarks today at the General Meeting […]
By Trade Attorney Lewis Leibowitz At the last minute, the U.S. and EU announced a deal to keep the tariff wars from getting worse. Yesterday, at the G20 meeting in Rome, the two sides announced an agreement that will prevent major retaliatory tariffs on U.S. exports to Europe from going into effect on Dec. 1. […]
We’re all on the same price roller coaster, and that’s true whether we’re talking steel, plastic or wood. But we’re not all on the same car – and so your impression of the market might be vastly different if you’re in the front car instead of the back one. That’s the impression I got while speaking […]
The U.S. and European Union (EU) announced a deal this weekend that removes Section 232 tariffs on imports from the EU and replaces them with a tariff rate quota (TRQ) system. The agreement ends a dispute dating back to 2018 when President Trump imposed Section 232 tariffs on steel and aluminum imports, and it heads […]
Algoma Steel’s initial public offering (IPO) is around the corner following shareholder approval of a deal between the Canadian steelmaker and Legato Merger Corp., a special purpose acquisition company (SPAC) The merger between the New York-based SPAC and privately held Sault Ste. Marie, Ontario-based Algoma is expected to close this week, an Algoma spokeswoman said. […]
By Trade Attorney Lewis Leibowitz I used to love a PBS show called Connections. The title is still around, and I recall an episode years ago that explored the Space Shuttle. Thousands of “connections” were necessary before the spacecraft became a reality: chemistries to make substances capable of withstanding re-entry temperatures, power systems for rockets, […]
As “the next precious metal,” prime scrap is a growth opportunity and a logical fit for Cleveland-Cliffs, which announced Monday that it plans to acquire Detroit-based Ferrous Processing and Trading Co. (FPT). The $775-million deal, Cliffs’ first foray into scrap, comes as no big surprise to most market observers. Cleveland-Cliffs is the largest producer of […]
By CRU Economist Frank Eich and CRU Research Analyst Clifton Hoong As addressing climate change has become an increasingly urgent political priority, policy makers have been keen to develop the available tool kit to address this challenge. Within that tool kit, carbon pricing plays an important role as it has been identified as one of […]
Steel Market Update’s foreign versus domestic price analysis elsewhere in this issue shows hot rolled imports still anywhere from $400 to $800 per ton cheaper than prices in the U.S., depending on the country of origin. The potential cost advantage remains very tempting to buyers willing to take on the risks of a long and […]
The week ahead could be pivotal for Section 232, infrastructure spending and the U.S. pivot toward Asia – all of which are increasingly interlinked, according to one policy expert. The Biden administration wants to ease or lift Section 232 tariffs on the European Union as part of efforts to form a broader coalition against China on […]
What does the rapid advancement of solar energy mean for the steel industry? Solar has major implications, both for the steel it will consume and the energy it will provide. Without solar energy, steelmakers have no chance of reaching their zero-emissions goals over the next three decades. Even if steel mills can somehow figure out […]
Lobbying groups for U.S. steel mills and the United Steelworkers (USW) union want trade restraints placed on the EU to prevent potential “import surges” from the region. The call – from the American Iron and Steel Institute (AISI), the Steel Manufacturers Association (SMA) and the United Steelworkers union (USW) – comes even as the U.S. and the […]