Preliminary Census data indicate that steel imports will have totaled 2.48 million net tons for the month of January. While up nearly 13% from the prior month, January levels are still down more than 3% compared to the previous 12-month average. Recall that monthly import levels declined nearly 17% month on month (MoM) in November, […]
Preliminary Census data indicate that steel imports totaled 2.24 million net tons for the month of December. This is up 11% compared to November, a slight rebound month on month (MoM) after recording the lowest level since February 2021 the month prior. Import levels had been gradually falling since reaching a 26-month high in March […]
Preliminary Census data indicates that steel imports will have totaled 2.01 million net tons for the month of November. This is down 17% compared to the month prior, now standing at the lowest level recorded since February 2021. Import levels have been gradually falling since reaching a 26-month high in March 2022 of 3.09 million […]
The US Department of Commerce’s International Trade Administration (ITA) has updated antidumping (AD) duties on cut-to-length plate from Belgium and welded standard pipe from Turkey, according to documents in the US government’s Federal Register. CTL Plate from Belgium The ITA recently finalized an administrative review of the AD duties on CTL plate from Industeel Belgium […]
ArcelorMittal US has announced new, higher sheet prices with the opening of its 2023 order books. The company said it has also rolled out new grade extras, which will take effect on Jan 1., to reflect higher alloy costs. The price increases effectively apply to AM/NS Calvert, the Alabama mill jointly owned by Luxembourg-based ArcelorMittal […]
Preliminary Census data indicates that steel imports will have totaled 2.41 million net tons for the month of October. While up 7% from the prior month, October levels are on the low side compared to the previous 18 months. Recall that monthly import levels declined 11% month-on-month (MoM) in September, having also fallen 6% both […]
Rumors of a holiday-season price increase continue to ping pong around the market. Will mills announce one on Wednesday ahead of Thanksgiving, in early/mid-December, or not until early next year? Let’s leave the timing aside for a moment and consider why those rumors have been so persistent. On the spot market side, we’ve seen some […]
Kansas City, Mo.-based EXLTUBE is set to become a part of the Zekelman Industries group of companies. Zekelman has agreed to acquire the assets of the pipe and tube maker from its 20-year owner SPS Companies Inc. Terms of the agreement were not disclosed. The acquisition includes three EXLTUBE mills and 530,000 square feet of […]
Engineered pipe and tube producer Northwest Pipe Co. posted sharply higher profits for the third quarter ended Sept. 30. The Vancouver, Wash.-based company said the boost was driven by strong demand and increasing backlogs from its engineered pipeline systems and precast products, according to earnings data released on Tuesday, Nov. 8 All told, Northwest Pipe posted net […]
Preliminary US Census Bureau data indicates that steel imports totaled 2.24 million net tons in the month of September. This is down 11% from the prior month, and is potentially the lowest monthly rate seen since February 2021. Recall that monthly import levels also declined 6% from July to August and 6% from June to […]
Final US Census Bureau data indicates that steel imports totaled 2.51 million net tons during the month of August, just 267 tons higher than the preliminary figures released in late September. This is down 6% from the prior month. It is also the third lowest monthly rate in the past year and a half (behind […]
Preliminary US Census Bureau data indicates that steel imports will have totaled 2.51 million net tons during the month of August. This is down 6% from the prior month and potentially the lowest monthly rate seen since February of this year. Recall that monthly import levels also declined 6% from June to July. August figures […]
The US Department of Commerce has released updated antidumping duty rates on certain pipe and tube imports after administrative reviews. It has also brought prior determinations in line with remand orders from the US Court of International Trade (CIT). OCTG Commerce set a 1.59% weighted-average dumping margin for the Interpipe group of companies in the preliminary results of […]
Final Census data shows that 2.68 million net tons of steel imports entered the country in July, down 6% compared to the month prior and the lowest rate in the past five months. The preliminary import figures reported last week were just 4,000 tons shy of the final count (most of the flat rolled products […]
Preliminary Census data indicates that July steel imports will total 2.67 million net tons, down 6% compared to June and the lowest monthly rate since February of this year. July figures are down 14% compared to March’s 26-month high of 3.09 million tons. Import licenses for August are currently at 1.98 million tons through August […]
We had a big development this week with London-listed Russian steelmaker Evraz Plc announcing plans to sell its North American operations. A move like this has been rumored for some time. We’ve heard versions of it going back to Russia’s full-scale invasion of Ukraine in late February. Still, it was something of a shock to […]
While steel service centers remain cautiously optimistic on their demand outlooks for the remainder of the year, most agree that the environment for mergers and acquisitions remains quite strong. This is according to executives from Reliance Steel & Aluminum, Ryerson, and Olympic Steel—some of the industry’s top players—speaking on their recent and respective second quarter […]
Final Census data shows that June steel imports totalled 2.84 million net tons, 24,000 tons higher than preliminary figures reported last week. June imports are down 8% compared to March’s 26-month high of 3.09 million tons. Import licenses for July now total 2.57 million tons through Aug. 3rd data. This is up from 2.15 million […]
At the request of US pipe and tube producers, the US Department of Commerce has begun inquiries into the alleged circumvention of antidumping and countervailing duties (AD/CVD) on a variety of products from a host of Asian countries. The request came from Atlas Tube Inc., Bull Moose Tube Co., Maruichi American Corp., Nucor Tubular Products […]
Service center chain Olympic Steel posted record quarterly sales and the second-most-profitable quarter in the company’s history during the second quarter. Both net income and sales were 27% higher year-on-year at $37.6 million and $709 million, respectively. “The continued strength of our three business segments in the second quarter drove another record-breaking performance for Olympic […]
Preliminary Census data indicates that June steel imports will total 2.81 million net tons, just 61,000 tons higher than May levels. June figures are down 9% compared to March’s 26-month high of 3.09 million tons. Import licenses for July are currently at 2.15 million tons through July 25th data. (July figures are expected to increase as import […]
Steel pipe producer Tenaris has joined the Steel Manufacturers Association, the US industry trade association representing electric arc furnace producers. Additionally, Luca Zanotti, president of Tenaris’ US operations, is joining the SMA’s board of directors. “Our company is committed to supporting low emissions steelmaking with an agenda rooted in sound public policy, a strong safety […]
Final Census data reveals that May steel imports totaled 2.75 million net tons, just 17,000 tons higher than April, but down 11% from March’s 26-month high of 3.09 million tons. June import licenses are at 2.79 million tons through July 6th data, (up from 2.29 million tons last week), now in line with April and […]
Preliminary Census data shows that steel imports in May currently total 2.74 million net tons, 6,000 tons higher than April, but down 11% from March’s 26-month high of 3.09 million tons. June import licenses are now at 2.29 million tons, 16% less than April and May levels, and potentially the lowest level seen since Feb. […]
Despite inflation, rising interest rates, and faltering equities markets, the outlook is not all doom and gloom when it comes to the metals markets, says Rick Marabito, CEO of service center group Olympic Steel. In fact, the outlook for demand and consolidation is actually quite good, he told attendees of this week’s Steel Market Update […]
Olympic Steel CEO Rick Marabito will be the featured speaker on our SMU Community Chat on Wednesday at 11 am ET. The live webinar is free. A recording of it is free only to SMU members. You can register here. We’ll talk about why the sky is not falling even though carbon prices and futures are softening. […]
Final Census data shows that steel imports in April totaled 2.73 million net tons, falling 12% from March’s 26-month high of 3.09 million tons. May import licenses have risen from our late-May report to 2.61 million tons, 4% less than April levels and 16% lower than the March high. Total finished steel imports were 2.29 […]
Olympic Steel CEO Rick Marabito will be the featured speaker on our next SMU Community Chat on Wednesday, June 15, at 11 am ET. The live webinar is free. A recording of it is free only to SMU members. You can register here. We’ll talk about why the sky is not falling even though carbon prices and […]
Preliminary Census data recently released shows that steel imports in April declined 12% month-over-month to 2.73 million net tons, falling from March’s 26-month high of 3.09 million tons. May import licenses through May 23 and are currently at a 15-month low of 2.02 million tons, down 26% compared to April and 35% lower than the […]
The US will for one year lift Section 232 tariffs from Ukrainian steel, the Commerce Department said. The move is necessary to support Ukraine in its war against Russia and because steel plays an outsized role in the Ukrainian economy, Commerce said in a press release on Monday, May 9. Case in point: Steel employs […]