AK Steel announced today that it will increase current spot market base prices for all carbon flat-rolled steel products by a minimum of $30 per ton, effective immediately with new orders. This latest price hike follows a $40 increase announced by the steelmaker in early January. AK Steel is a producer of flat-rolled carbon, stainless […]
As plugged into Washington as they may be, the leadership of the Steel Manufacturers Association is in the dark on Section 232, just like everyone else. Queried by reporters last week during SMA’s board meeting in Florida, the trade group’s officers could offer no inside information on what to expect from President Trump as he […]
The following article was written by George F. Will as an opinion piece in the Washington Post. It was originally published on Jan. 26, 2018. Like Horatius at the bridge, or the boy who stood on the burning deck whence all but he had fled, or the Dutch boy who saved the city by putting […]
The U.S. International Trade Commission ruled on Friday that imports of Canadian Bombardier civil aircraft do not injure the U.S. industry. The surprise unanimous vote was a disappointment to Boeing which called for stiff tariffs against their competitor for alleged unfair trade practices. In December 2017, the Commerce Department claimed the planes were sold at […]
Durable goods orders increased at their fastest pace in six months, gaining 2.9 percent after an upwardly revised 1.7 percent advance in November. On a year-over-year basis, orders increased 5.8 percent from 2016, the most in six years. Durable goods are items that are meant to last at least three years. Civilian aircraft orders jumped […]
ArcelorMittal announced that it will invest CAD $70 million (U.S. $56.8 million) in its Contrecoeur, Quebec, wire rod and bar facilities. Two reheating furnaces will be replaced at Contrecoeur-East wire rod mill and its Contrecoeur-West steel bar mill. The furnaces will increase the company’s rolling capacity by 100,000 metric tons with greater efficiency and reduced […]
Steel is a core business for the port in Tampa, Fla., which handled steel and scrap imports and exports totaling about 900,000 tons last year. Hundreds of industry executives will also pass through the port as attendees of the 29th annual Tampa Steel Conference to be hosted by Port Tampa Bay and Ports America on […]
President Trump’s decision today to impose tariffs on imports of solar panels and large washing machines in a bid to help U.S. manufacturers has heated speculation the administration may take a similar tack on the pending Section 232 rulings on steel and aluminum imports. President Trump has approved recommendations by the U.S. International trade Commission […]
Steel is a core business for the port in Tampa, Fla., which handled steel and scrap imports and exports totaling about 900,000 tons last year. Hundreds of industry executives will also pass through the port as attendees of the 29th annual Tampa Steel Conference to be hosted by Port Tampa Bay and Ports America on […]
Popular economist Alan Beaulieu of ITR Economics will make another appearance as a keynote speaker for Steel Market Update’s premier event, the 2018 Steel Summit Conference, set for Aug. 27-29 at the Georgia International Convention Center in Atlanta. Beaulieu will offer an insightful overview of U.S. economic trends and their implications for those associated with […]
China’s steel production has continued to grow year over year, contradicting all the hoopla about production cuts, according to Steel Market Update’s latest analysis of Chinese government data. Once each quarter, we publish the official statistics for Chinese GDP, industrial production, consumer price inflation and fixed asset investment. Many analysts don’t believe these self-serving Party […]
The American Line Pipe Producers Association filed an antidumping and countervailing duty petition with the Department of Commerce and U.S. International Trade Commission on Wednesday. The group alleges that the dumping of large diameter welded pipe from Canada, Greece, India, China, Korea and Turkey is causing injury to domestic producers. The group also charges that […]
On March 28 and 29, 2018, Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop in Merrillville, Ind. This workshop will include a tour of the NLMK USA Portage, Ind., steel mill. Why do companies send employees to our Steel 101 workshops? Because they receive a broader […]
On March 28 & 29, 2018 Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop in Merriville, Indiana. This workshop will include a tour of the NLMK USA Portage, Indiana steel mill. Why do companies send employees to our Steel 101 workshop? Because they receive a broader […]
Demand is good heading into 2018, mill prices are on the upswing and trade cases promise to keep low-priced imports at bay. So why aren’t distributors who sell galvanized steel products to the HVAC market happier? Members of the Heating, Air-conditioning, and Refrigeration Distributors International (HARDI) reported that market conditions remain highly competitive despite price […]
The Empire State Manufacturing Index showed continued growth in New York State, but at a slower pace in January. The general business index registered 17.7, down from 19.6 in December. New orders declined 7.1 points to 11.9, while shipments eased by 9.1 points to 14.4. The unfilled orders index registered 4.3 indicating a small increase. […]
The Section 232 report on the effect of steel mill product imports on U.S. national security was submitted to President Trump by Secretary of Commerce Wilbur Ross late on Thursday, Jan. 11. The president now has 90 days to take action. Details of the report have not been released. In its announcement, the Commerce Department […]
As we collected hot rolled, cold rolled, galvanized, Galvalume and plate prices earlier this week, we asked a number of questions trying to get reactions from the steel buyers. We asked how high steel prices could go (using hot rolled as the benchmark) and what were the key drivers affecting prices right now. Here are […]
Last week, Steel Market Update conducted our first flat rolled steel market trends analysis of the New Year. We invited comment from 640 individuals associated with the flat rolled steel industry in manufacturing, steel distribution, steel mills, trading companies and others who service the industry. One of the key areas we research during the survey […]
Steel Market Update will be opening online registration for our 8th SMU Steel Summit Conference in the coming days. We are now accepting registrations by phone, which you can do by contacting our offices at 772-932-7538 or 706-216-2140. Information regarding dates, costs and other details can be found further down in this article. Steel Market […]
Steel Market Update has opened online registration for our 8th SMU Steel Summit Conference. We are also accepting registrations by phone, which you can do by contacting our offices at 772-932-7538 or 706-216-2140. Information regarding dates, costs and other details can be found further down in this article. Steel Market Update and our Events team […]
Nucor will shift production at subsidiary Kirby Building Systems to Portland, Tenn., laying off approximately 100 production workers. The shift in operations reflects production changes in the Nucor Buildings Group, which manufactures custom-engineered and standard metal buildings and components.” “In the coming months, Nucor will be transferring all production of our American Buildings Company (“ABC”) […]
While the December jobs report was a bit disappointing, it still represents the 85th consecutive month of job growth and left the unemployment rate unchanged. The Bureau of Labor Statistics (BLS) employment report for December was released on Friday. The total number of nonfarm jobs created was 148,000. October was revised down by 33,000 and […]
Total construction expenditures have turned around and grew by 3.9 percent in three months through February year over year. The growth of total construction on a rolling 12-month basis year over year has been constant at 2.1 percent for each month December through February. On a rolling three-month year-over-year basis, the situation is much better […]
Steel Market Update anticipates conducting five Steel 101 workshops during calendar year 2018. Our January workshop scheduled for Mobile, Ala., later this month is sold out. Steel Market Update’s next Steel 101: Introduction to Steel Making & Market Fundamentals Workshop will be held in Merrillville, Ind., on March 28-29, 2018. The two-day session will include […]
We have had companies contact us already regarding when registration will open for the 2018 SMU Steel Summit Conference. We will be working on the Steel Summit section of the website tomorrow (Wednesday) with the hope to open up registration for the Aug. 27-29, 2018, event on Friday of this week. We will also open […]
The U.S. economy overall has grown for 103 consecutive months, and the manufacturing sector for 16 months, based on the Institute for Supply Management’s latest survey of corporate purchasing executives. In December, ISM’s manufacturing PMI climbed 1.5 percentage points to 59.7, well above the reading of 50 that indicates growth. “This indicates growth in manufacturing […]
The J.P. Morgan Global Manufacturing PMI ended 2017 near a seven-year high as economies improved and new orders and output expanded. The PMI, produced by J.P. Morgan and IHS Markit, rose to 54.5 in December from 54.1 in November, expanding for the 22nd month. Intermediate goods saw the greatest rate of growth in December followed […]
Strengthening its position as a supplier of high-value-added metals to the aerospace sector, Toronto-based Samuel, Son & Co. has acquired Metal Spinners Holdings. Metal Spinners will operate as a separate group within Samuel’s manufacturing division. The group will include Missouri Metals of St. Louis, Mo., and Metal Spinners’ production facilities in Angola, Ind., Rock Falls, […]
Key market indicators bode well for business conditions in the first quarter of 2018. Steel Market Update’s view of the present situation based on our examination of data released in December shows that 47.2 percent of the 36 indicators are historically positive with only 19 percent negative. The balance is within the historically normal band. […]