Tag: Exports

The ferrous export market in the US has experienced several geopolitical events and natural disasters during 2023.

US apparent supply increased to 8.65 million net tons in August, up 5% compared to 8.24 million tons July, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI).  Apparent steel supply is determined by combining domestic steel mill shipments and finished US steel imports, then deducting total […]

After a meeting Friday at the White House, the EU and US issued a joint statement noting no concrete movement towards a Global Arrangement on Sustainable Steel and Aluminum.

Prices for ore-based metallics were mixed month-on-month (MoM) as lower finished steel production weighs on pig iron demand.

The US and European Union are expected to sign a political agreement that puts a hold on a part of the Global Arrangement on Sustainable Steel and Aluminum (GSA) regarding the decarbonization of steel and aluminum making, according to an article in The Financial Times.

The US and European Union will continue trade talks on Friday, Oct. 20, according to a statement from the European Council.

The 2023 term continues a series of very eventful Supreme Court sessions, similarly to 2021 and 2022 terms.

The latest SMU Market Survey results are now available on our website to all Premium members.

US President Joe Biden is set to meet European Commission President Ursula von der Leyen and European Council President Charles Michel on Oct. 20 in Washington ahead of a deadline for an agreement on steel, according to a report in Reuters.

Demand will be the determining factor in what happens to steel sheet prices globally for the remainder of the year, and most risks right now are to the downside. An autoworkers strike has started in the USA and could increase price volatility in the domestic sheet market. The longer and more severe this strike is, […]

Deputy United States Trade Representative (USTR) Jayme White met on Wednesday with Mexico’s Under Secretary of Economy for Foreign Trade Alejandro Encinas, and discussed issues regarding the “surge” into the US of Mexican steel and aluminum imports.

North American auto assemblies saw its best total year to date in August, and its best mark in nearly five years, driven by a 32.8% jump in total assemblies vs. July’s output.

US apparent steel supply declined 2% in July to 8.28 million net tons compared to the previous month, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI). 

Steel prices kept falling throughout last month. Hot-rolled coil (HRC) prices ended August at $725 per ton ($36.25 per cwt) on average, having fallen by $105 per ton during the month.

US steel exports declined in July for a third consecutive month but remained elevated compared to recent years.

The LME aluminum three-month price was broadly stable again on the morning of Sept. 8 and was last seen trading at $2,180 per tonne.

We’re just a week away from a potential United Auto Workers (UAW) strike against one, or potentially all three, union-represented automakers. The latest turn of the screw: UAW President Shawn Fain said an offer from Detroit-based General Motors was “insulting.”

Last week the Secretary of Commerce, Gina Raimondo, visited China for high-level meetings with the Chinese government. Her counterpart, Wang Wentao, China’s Commerce Minister, participated in the discussions. The four-day meeting included an announcement of two new working groups dealing with US-China economic relationships. The first was a forum to explain US export controls relating […]

The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at steelmarketupdate.com, visit the Pricing and Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” Historical survey results are also available under that selection. If you need help accessing the survey results, or if […]

Alan Beaulieu, president of ITR Economics, joined us again at Steel Summit to talk about what is on the horizon for 2024.

Steel Summit's trade panel opened the conversation around the ongoing negotiations between the US and EU, decarbonization, and trade.

The Biden administration issued three decisions last week that raise the question whether international trade will be harder or easier when it comes to infrastructure and commercial manufacturing in the US.

US steel exports remained elevated during the month of June, staying above the 900,000-ton mark for a second consecutive month.

The latest SMU Market Survey results are now available on our website to all Premium members.

The US scrap market showed some stability in August, with prices mostly sideways on busheling and shredded grades, and HMS prices ticking up from the previous month, sources said.

Iron ore prices remained elevated in July, averaging $112 /dmt for the month, unchanged from June.

Our sheet prices are down again this week. Some of you think it’s a sign of something ominous, others think it’s just a case of seasonality. It might help to step back and put things in perspective.

There is a lot going on at SMU right now. We’re going to be rolling out a new website over the next few days. We’ve also got more than 1,200 people registered to attend Steel Summit this year, putting us on pace to potentially break last year’s attendance record of nearly 1,300. The event is […]

China recently became the world’s largest exporter of cars. Experience from the steel industry suggests this is not a trend that will reverse.

China recently became the world’s largest exporter of cars. Experience from the steel industry suggests this is not a trend that will reverse, though it might reduce. Changes in auto supply chains and metals demand outside China are likely. China Is Now the World’s Largest Car Exporter China recently became the world’s largest exporter of […]