Is your company at risk due to the impact of the Section 232 tariffs? Industry executives responding to Steel Market Update’s April 16 flat rolled market trends questionnaire are almost evenly split on whether the Trump administration tariffs will help or hurt their businesses. Fifty-two percent say their business is not at risk, while 48 […]
According to manufacturing companies, as well as steel service centers, the steady trend for higher flat rolled steel spot prices out of the distributors is changing. For the past four months, at least 74 percent of distributors and their manufacturing customers have been reporting spot flat rolled prices as rising. The 46 percent of the […]
Thirty-eight states and the District of Columbia added construction jobs between March 2017 and March 2018, while 29 states added construction jobs between February and March, according to an analysis by the Associated General Contractors of America of Labor Department data. Strong private-sector demand and new public-sector investments in school and airport construction contributed to […]
There’s a distinctive noise of metal on metal floating through the halls of Oak Forest High School, and it’s music to the ears of Daniel Brown, the school’s industrial technology teacher. Brown has been supervising the Welding Works Explorer post in the Chicago suburb since fall 2016. He has been teaching welding for 17 years […]
I was asked if plate price momentum was also at neutral as we had just adjusted our flat rolled price momentum indicator away from higher to the neutral designation. To be honest, we haven’t actually incorporated plate into having its own index and it probably needs one. Plate prices don’t always move in sync with […]
Both current and future sentiment among flat rolled steel buyers remain at optimistic levels, though buyers’ confidence appears to have seen some erosion as measured by the three-month moving averages in Steel Market Update’s Steel Buyers Sentiment Index. The index is designed to measure changes in buyers’ attitudes, which offers insight into their likely decision-making. […]
U.S. manufacturing groups claiming to represent more than 30,000 users of steel and aluminum announced a new coalition Wednesday to oppose the Trump administration’s Section 232 tariffs. The Coalition of American Metal Manufacturers and Users includes the Industrial Fasteners Institute, the National Tooling & Machining Association, the North American Association of Food Equipment Manufacturers, the […]
Steel Dynamics reported a very strong first quarter with record shipments in the flat rolled division and a 94 percent utilization rate, well above the domestic industry average of 76 percent. Demand and product pricing improved across SDI’s entire steel platform. Net sales totaled $2.6 billion for the quarter and net income was $228 million. […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on recent events in Washington: • By my count, the Bureau of Industry and Security at Commerce has posted 82 exclusion requests for steel and aluminum combined. The Washington Post reported that 1,200 requests had been submitted to BIS. The NPR program Marketplace yesterday […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on recent events in Washington: • By my count, the Bureau of Industry and Security at Commerce has posted 82 exclusion requests for steel and aluminum combined. The Washington Post reported that 1,200 requests had been submitted to BIS. The NPR program Marketplace yesterday […]
Chicago-based Union Partners announces the appointment of Chris Sekella as Executive Vice President for U.S. Operations. Sekella will be responsible for the overall leadership of operations for Union Partners’ family of companies. Specifically, he will be spearheading the strategy and day-to-day operations of Union Partners’ premier service centers that specialize in metal distribution and processing […]
Materials Science Corporation has completed an electro-galvanizing expansion for coating ultra-high-strength steels at its East Chicago, Ind., manufacturing operation. “The use of ultra-high-strength steels in automotive applications continues to grow, and many of those applications require zinc coating for corrosion protection. Our line in East Chicago specializes in coating all grades and sizes of UHSS […]
Economic activity continued to expand at a modest to moderate pace across the 12 Federal Reserve Districts in March and early April. Outlooks remained positive, but contacts in various sectors including manufacturing, agriculture and transportation expressed concern about the newly imposed or proposed tariffs on steel and aluminum. The Fed’s latest Beige Book released on […]
The high price of galvanized steel has not dampened demand, at least not yet, say distributors of HVAC products, who report continued strong market conditions. “The market is somewhat back to normal, just at dramatically higher transaction prices,” commented one member of the Heating, Air-conditioning, and Refrigeration Distributors International (HARDI), during the trade group’s monthly […]
The high price of galvanized steel has not dampened demand, at least not yet, say distributors of HVAC products, who report continued strong market conditions. “The market is somewhat back to normal, just at dramatically higher transaction prices,” commented one member of the Heating, Air-conditioning, and Refrigeration Distributors International (HARDI), during the trade group’s monthly […]
Manufacturing in New York State continued to expand in April, but at a slower pace, according to the Empire State Manufacturing Survey conducted by the Federal Reserve Bank of New York. Survey participants expressed apprehension about future business conditions. The general business conditions index fell seven points from its March reading to register 15.8. New […]
ArcelorMittal said it will sell off assets in order to secure its acquisition of Italian steel mill Ilva. The proposed divestment package includes: ArcelorMittal Piombino, the company’s only galvanized steel plant in Italy ArcelorMittal Galati, Romania ArcelorMittal Skopje, Macedonia ArcelorMittal Ostrava, Czech Republic ArcelorMittal Dudelange, Luxembourg Hot-dipped galvanizing lines 4 and 5 in Flemalle; hot-rolled […]
U.S. steel producers consider the Trump administration tariffs on steel imports a big step forward, albeit a journey still in progress, but are not resting on their laurels. AK Steel CEO Roger Newport presented the industry’s case once again in testimony Thursday before the House Ways and Means Committee in support of Section 232. “We […]
As Steel Market Update analyzed the inventory data received from flat rolled steel distributors, we found the number of months of supply that steel service centers are carrying was lower at the end of March than what we reported at the end of February. With 96 percent of our data providers reporting, the number of […]
Since the beginning of the New Year, manufacturing companies and steel service centers have been reporting service center spot pricing to their end customers as rising. Just a few weeks ago, 100 percent of the manufacturers responding to our mid-March flat rolled steel market trends questionnaire reported distributor prices as rising. Last week, Steel Market […]
Trying to predict the price of a metal is an exercise in futility, but MetalMiner strives to provide metal buying organizations with clarity around when and how much to buy, says Lisa Reisman, MetalMiner Executive Editor. Reisman will make another appearance at Steel Market Update’s 2018 Steel Summit Conference, set for Aug. 27-29 at the […]
AK Steel announced that three of its employees were recognized by the Manufacturing Institute as 2018 STEP Ahead Award winners who exemplify leadership in Science, Technology, Engineering and Production. Lisa A. Vensel, AK Steel General Manager, Manufacturing Planning, and Joyce C. Niedringhaus, AK Steel Principal Research Engineer, were named 2018 STEP Ahead Honorees. Ayesha Satija, […]
Our 8th SMU Steel Summit Conference registrations are quickly approaching 300 executives. With 136 days still to go, we are confident we will set another record attendance. Over the past two days we have received registrations from the following companies (those with a * next to their name means there is more than one person […]
Flat rolled steel prices appear to have hit a lull as prices have remained relatively range-bound compared to last week. Steel Market Update spent the past two days canvassing steel buyers at manufacturing companies, distributors, wholesalers and steel mills. We report on what steel buyers had to say to us in a separate article in […]
Bay State Wind, a 50-50 partnership between offshore wind company Orsted and transmission builder Eversource, will partner with international steel pipe producer EEW to manufacture components for offshore wind projects at a new facility to be built in Massachusetts. EEW will collaborate with U.S.-based Gulf Island Fabrication, a fabricator of offshore and onshore steel structures […]
EPA Administrator Scott Pruitt announced last week that the agency plans to roll back the Obama-era standards for fuel efficiency and greenhouse gas emissions. The Obama administration’s goals “don’t comport with reality and are too high,” Pruitt said. Offering no details of the plan, he added, “The EPA will set a national standard for greenhouse […]
Registrations for the 2018 SMU Steel Summit continue to come in at a steady pace. It took us until May 9 last year to reach the number of registrations that we already have as of the beginning of this week. There are 110 companies registered and we still expect 300 companies and 800 executives to […]
Registrations for the 2018 SMU Steel Summit continue to come in at a steady pace. It took us until May 9 last year to reach the number of registrations that we already have as of the beginning of this week. There are 110 companies registered and we still expect 300 companies and 800 executives to […]
Steel executives are evenly split on whether President Trump is making the right choice to use the Section 232 tariffs as leverage to negotiate better trade deals and quotas on future steel imports. Respondents to this week’s Steel Market Update market trends questionnaire expressed sentiments ranging from “it’s about time we had fair trade” to […]
Orders for heavy-duty trucks are at their highest level since 2000, according to industry research firm FTR Transportation. Orders for the heavy-weight Class 8 trucks increased 98.4 percent year over year to 133,900 vehicles during the first quarter of 2018. Increased demand caused FTR to increase its forecast for 2018 North American Class 8 truck […]