Flat Rolled = 54.1 Shipping Days of Supply Plate = 61.2 Shipping Days of Supply Flat Rolled US service center flat-rolled steel inventories eased back in August with stronger shipments. At the end of August, service centers carried 54.1 shipping days of supply, according to adjusted SMU data, down from 56.1 shipping days of supply […]
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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.
The US Federal Reserve said that although overall economic activity was modest in July and August, per its latest Beige Book Report released on Sept. 6, the report was still slightly more optimistic than the previous one.
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.”
Activity in the US manufacturing sector continues to slow, according to the latest monthly report on business from the Institute for Supply Management (ISM).
President Biden downplayed the prospect of a strike by the United Auto Workers (UAW) union in comments on Monday, according to a report by Detroit’s WXYZ’s news.
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 […]
Leading voices in US the scrap industry discussed the current outlook and future challenges at Steel Summit 2023’s panel on Scrap and Metallics: Navigating the Boom in EAF Sheet Production.
In a Steel Summit fireside chat, Karla Lewis, president and CEO of service center group Reliance Steel & Aluminum, sat down with SMU managing editor Michael Cowden to talk about current demand trends and where she’s leading her company.
The LME aluminum 3-month price moved higher this week wrapping up the week at $2,170 per ton on Aug. 25.
After four months of increases, orders for durable goods in the US dropped in July.
Nucor executive Daniel Needham detailed at this year's Steel Summit what’s on the horizon for the steelmaker as the company continues to diversify.
Here’s the program for the final day of SMU's Steel Summit on Wednesday, Aug. 23, at the Georgia International Convention Center in Atlanta.
Reshoring or nearshoring in manufacturing is real and happening now. And that trend is driving steel consumption, executives from steelmaker Ternium and service center group Reliance Steel & Aluminum said at SMU’s Steel Summit this week in Atlanta.
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.
Manufacturing activity decreased in New York state in August, according to the most recent Empire State Manufacturing Survey.
Resonac announced this week it plans to acquire 100% of the outstanding shares in Monterrey, Mexico-based AMI Automation.
Flack Global Metals (FGM) said it has completed an investment in Windsor America, parent of Windsor Door, Garage Door Services of USA and Lodi Door.
GrafTech International Ltd. gained sequential improvement in the second quarter.
Economic activity in the US manufacturing sector contracted for the ninth month in a row in July, according to the latest report on business from the Institute for Supply Management (ISM).
This is a tough time to be in the forecasting business, especially when it comes to steel. You might have a battle-tested model based on the latest macroeconomic data, prices, inventories, and lead times. The catch: Whatever a forecast might showing now could be overshadowed by events next month. Namely, labor negotiations between the United Auto Workers (UAW) union and automakers General Motors, Ford, and Stellantis.
Latin American steelmaker Ternium remains optimistic that positive trends in the Mexican market will help it to continue increasing its market share.
Ryerson said it expected demand to weaken in the near term after it reported a slump in second-quarter earnings. The Chicago-based service center group reported net income of $38 million in Q2’23, down 81% from $196 million a year earlier on revenue that fell 23% to $1.34 billion. “Shifting consumer spending patterns, higher interest rates, […]
Ryerson said it expected demand to weaken in the near term after it reported a slump in second-quarter earnings.
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.
Steel prices and shipment volumes will probably be lower in the third quarter than they were in the second, U.S. Steel executives said.
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.
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 […]