Steel imports fell back in May from April’s recent high but remained elevated compared to the levels seen over the past year. A deeper dive into the data confirms what SMU has been hearing from sources: Coated sheet is driving the recent rise in overall import levels.
President Joe Biden announced that the US will extend the suspension of Section 232 tariffs on steel products imported from Ukraine for another year. The Biden administration first lifted the 25% Section 232 tariffs on steel imports from Ukraine after the breakout of war with Russia in 2022. The initial waiver was good for one […]
Steel imports jumped from March to April and are looking nearly as strong for May, according to updated Census data released earlier this week.
The Canada Border Services Agency (CBSA) has completed its portion of an expiry review of the antidumping duty orders on welded standard pipe from Pakistan, the Philippines, Turkey, and Vietnam.
March 2024 represents the third highest monthly steel import rate seen over the prior year.
Olympic Steel logged lower earnings in the first quarter of 2024, but the company said all three of its segments contributed to profitability.
Steel imports held steady in March, up just 1% from February according to preliminary Census data released earlier this week.
Zekelman Industries will invest up to $120 million to expand the manufacturing capabilities and product offerings of its Atlas Tube subsidiary in Mississippi County, Ark.
Last week gave us a glimpse into the effect of the 2024 election campaign on trade policy. In a major announcement, the Biden administration pressed the US Trade Representative (USTR) to triple certain Section 301 tariffs on steel and aluminum. It’s a lot to unpack. You can find the full text of the announcement here. […]
Steel import licenses through March have now reached a nine-month high according to the latest data from the US Commerce Department.
Nucor has acquired Southwest Data Products (SWDP), a manufacturer and installer of data center infrastructure, for $115 million.
After reaching a seven-month high in January, steel imports fell back 3% in February, according to preliminary Census data released earlier this week.
SMU caught up with Barry Zekelman, executive chairman and CEO of Zekelman Industries, on Wednesday’s Community Chat. As one of the largest independent steel pipe and tube manufacturers in North America, his company is also one of the largest steel buyers in the region. This year alone, the Chicago-based company will buy roughly 2.8 million tons of steel. As such, Zekelman provides a great perspective on the steel industry and the markets it serves.
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, […]
SMU’s price for hot-rolled (HR) inched lower this week. I wouldn’t be surprised, however, if we start to see prices and lead times move higher in the weeks ahead. The modest declines in HR this week are probably the result of lingering deals cut at “old” prices, as sometimes happens after mill price increases. But those deals will probably be out of the market soon if they aren’t already. So why do I float the idea of higher prices? Some big buys have been placed. It reminds me a little of what we saw last fall, when people restocked in anticipation of higher prices once the UAW strike was resolved.
Join SMU’s next Community Chat webinar with Barry Zekelman, executive chairman and CEO of Zekelman Industries – the largest independent steel pipe and tube manufacturer in North America. The webinar will be on Wednesday, March 20, at 11 a.m. ET. It’s free for all to attend. A recording will be available to SMU members. You can register here.
The latest steel import license data from the US Commerce Department shows 2.39 million short tons (st) of steel entered the country in February 2024, down 6% from the month prior.
What are some “Black Swans” to watch out for? With the war in Ukraine entering its third year, your mind might understandably move to conflicts overseas. Here is one closer to home to consider: US trade relations with Mexico taking a turn for the worse. I mention that because the Office of the United States Trade Representative (USTR) dropped a (virtual) bombshell earlier this month.
January’s import level was even higher than an earlier license count had suggested, making it the highest month for imports since June 2023.
Domestic prices have been sliding since the beginning of the year, and I don’t see any obvious reasons why the slide might stop this week. But let’s put the timing of a bottom aside for a minute. The question among some of you seems to be whether we’ll see another price spike, or at least a “dead-cat bounce,” before the typical summer doldrums kick in.
Olympic Steel said it's open to future acquisitions in all three of its business segments.
Olympic Steel’s earnings jumped in the fourth quarter, even as the company dealt with "significant" price volatility in hot rolled for full-year 2023.
Bull Moose Tube Co. (BMT) is now offering jumbo hollow structural sections (HSS) in the US market.
The recession many predicted did not materialize in 2023, leading industry experts in several key end-user markets for steel cautiously optimistic for 2024.
December’s import level was slightly lower than an earlier license count had suggested, resulting in December marking the second-slowest month for imports in 2023.
Active rigs in the US dipped slightly this week, while Canada's count increased for the second consecutive week, according to Baker Hughes.
The US Department of Commerce will likely be lowering the antidumping duty (AD) rates on imports of welded steel pipe from the UAE.
After falling in November, steel imports appear to have bounced back to a five-month high in December.
November’s preliminary count shows US imports falling, but to a lesser degree than an earlier license count had suggested, according to the latest government figures.
The International Trade Commission (ITC) made its final injury determination in a sunset review of import duties on circular welded pipe from a handful of countries.