Tag: japan

Pennsylvania Governor Josh Shapiro has come out against Nippon Steel’s proposed buy of U.S. Steel because it doesn’t have union support, according to media reports.

Japan’s Nippon Steel announced it was withdrawing from a joint venture (JV) with China's Baoshan Iron & Steel (Baosteel) that served the Chinese automotive industry.

Both iron ore and coking coal prices fell this week because of resistance from buyers. Iron ore prices have continued to fall throughout the past week, following sharp declines in steel prices in China, given no new policy announcement from the ‘Third Plenum’ meeting.

High levels of steel imports, especially from China, in recent months are worrying steel makers in India and Vietnam.

Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.

Global steel output eased 2% in June following May’s 14-month high, according to World Steel Association’s (worldsteel) latest release.

The price gap between US cold-rolled (CR) coil and imported CR has fallen to a 10-month low as domestic tags continue to drift lower. Domestic CR coil prices averaged $920 per short ton (st) in our check of the market on Tuesday, July 16, down $40/st from the week before. CR tags are now down […]

Offshore cold-rolled (CR) coil remains cheaper than domestic product. The gap continues to tighten, however, as US CR coil prices slip to a nine-month low. Domestic CR coil tags averaged $960 per short ton (st) in our check of the market on Tuesday, July 9, down $5/st from the week before. CR tags are now […]

US steel imports registered a steep decline from May, with June licenses falling to the lowest monthly level so far this year.

Canada’s industry minister Francois-Philippe Champagne has conditionally allowed a Glencore-led consortium to acquire Teck’s Elk Valley Resources (EVR) metallurgical coal business for $6.9 billion. He also raised the bar for foreign companies wanting to buy into the country’s critical mineral resources.

U.S. Steel and Nippon Steel explained their position on USS’ participation in US trade cases should their proposed nearly $15-billion merger deal go through. The companies hope to close the deal by the end of the year.

Offshore cold-rolled (CR) coil remains cheaper than domestic product pricing even as US CR coil prices slip to an eight-month low. Domestic CR coil tags stood at $975 per short ton (st) on average in our check of the market on Tuesday, June 25, down $20/st from the week before. Domestic CR prices are, on […]

Offshore cold-rolled (CR) coil prices are cheaper than domestic product despite US CR coil prices ticking lower. Domestic CR coil tags stand at $995 per short ton (st) on average, down $25/st vs. our prior check of the market on Tuesday, June 18. (We will update prices again on Tuesday, June 25.) All told, US […]

Global steel output rose 6% from April to May, and is now at the highest rate seen since March 2023, according to World Steel Association’s (worldsteel) latest release.

Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]

U.S. Steel has guided to lower second-quarter earnings both sequentially and on-year in "dynamic" spot price market.

Offshore cold-rolled (CR) coil prices have changed little, but they are still notably cheaper than domestic product. That remains the case even as US CR coil prices ticked lower this week.

Offshore cold-rolled (CR) coil prices remain notably cheaper than domestic product. That remains the case even as US CR coil prices continue to tick lower.

ArcelorMittal plans to continue to invest and expand its operations in North America, a senior company executive said in an exclusive interview with SMU. “People were talking about our demise in North America or maybe our exit. And I want to emphasize that nothing could be further from the truth,” said Brad Davey, executive vice president and head of corporate development at the company.

When you step out of the airport in Phoenix in June, the heat tends to focus your mind. I was in town to attend the Steel Manufacturers Association/Metals Service Center Institute (MSCI) annual meeting in Scottsdale, Ariz. The desert locale with palm trees, swimming pools, and the obligatory high-powered air conditioning was fitting for 2024. Between the presidential election and the geopolitical situation, things have definitely been heating up.

As the US slides further into protectionism as the solution for our trade problems, a solution that will put us in a position to succeed in the growing economic battle with China is yet to be discovered. The tariffs on China, which President Biden doubled down on, are not working—at least if the goal to out-compete China and other growing economies. China is not our only problem. But it is our No. 1 challenge right now, in geopolitics, potential hostilities, and economics. EVs are a sign of this challenge.

Offshore cold-rolled (CR) coil prices remain significantly cheaper than domestic product. That remains the cause even as US CR coil prices continued to tick lower. All told, US CR prices are now 17.6% more expensive than imports. While still high, that premium is down from 19.4% last week and down from 31.5% in early January.

Steel sheet prices across most regions of the world were little changed this week. European buyers remain cautious regarding their outlook towards end-use demand and largely remained out of the market. A similar trend was seen across Asia, although skepticism on real estate stimulus measures in China led to w/w price falls. In the US, […]

Cleveland-Cliffs is potentially eyeing a buy of NLMK USA’s Midwest assets, according to a report in Bloomberg.

The Biden administration recently announced tariffs on several products from China, including steel and aluminum. There has been much rejoicing over this move and there has been a great deal of support from the steel industry. 

Offshore cold-rolled (CR) coil prices remain a cheaper option over domestic product, even as US CR coil prices tick lower, according to SMU’s latest check of the market.

Global steel output in April fell 3.1% from March’s 10-month high, according to World Steel Association’s (worldsteel) latest release.

U.S. Steel’s board of directors has published a letter accusing Cleveland-Cliffs of a campaign of “misinformation” intended to “derail the transaction” of Japan’s Nippon Steel Corp. (NSC) to buy the Pittsburgh-based steelmaker. However, Cliffs has clapped back, with a release rebutting USS’ allegations.

President Biden announced an increase in tariffs this week on Chinese EVs, semiconductors, batteries, solar cells, steel, and aluminum.

Cleveland-Cliffs’ Lourenco Goncalves thinks trade measures announced by the US government on Tuesday against China were just the opening salvo in a series of trade actions. Case in point: The Biden administration targeted China’s “unfair” trade policies with additional tariffs on an array of Chinese-made goods - including steel, aluminum, and EVs.