Preston Pipe Partner Rick Preckel will be the speaker at Steel Market Update’s next Community Chat webinar. The webinar will be held on Wednesday, March 3, at 11 a.m. ET and is free to those looking to learn more about the interplay between the steel and energy markets. Joining Rick will be SMU Senior Editor […]
Preston Pipe Partner Rick Preckel will be the speaker at Steel Market Update’s next Community Chat webinar. The webinar will be held on Wednesday, March 3, at 11 a.m. ET and is free to those looking to learn more about the interplay between the steel and energy markets. Joining Rick will be SMU Senior Editor […]
“Snowmageddon” did not help. Steel buyers are telling Steel Market Update that last week’s “Snowmageddon,” as one buyer called it, has caused steel orders into the South and South Central sections of the United States to be pushed out an additional one to two weeks. “We’re seeing some adjustments arising out of last week’s weather with […]
Nucor’s tubular products group has increased prices for hollow structural sections (HSS), pipe, mechanical and piling products by $50 per ton ($2.50/cwt). The move is effective immediately and is necessary because of “rising raw material costs, strong demand, and volatile transportation costs,” Nucor said in a Feb. 19 letter to customers. Orders booked prior to […]
AM/NS Calvert has quietly increased prices for new spot orders by $40 per ton ($2/cwt), according to market participants. The move–which was effective on Feb. 16 but not widely announced–will see base prices for hot-rolled coil increase from $1,160 per ton to $1,200 per ton, sources said. Base prices for cold-rolled and coated products will […]
U.S. steel imports are on the upswing. December steel import figures were finalized at 1.50 million net tons, up 9% from one month prior and up 18% over September’s 11-year low of 1.26 million tons. January import licenses are up 47% from the month prior to 2.20 million tons, the highest monthly level seen since […]
U.S. Steel does not plan to build additional electric-arc furnace capacity for the “foreseeable future,” company executives said. The company also plans to keep the “A” blast furnace at its Granite City Works in southern Illinois idled, they suggested. U.S. Steel acquired two flat-rolled EAFs when it closed its deal for Big River Steel’s mill […]
November steel import figures were finalized at 1.37 million net tons, down 9 percent from one month prior, but up 9 percent over September’s 11-year low of 1.26 million tons. December import licenses are now at 2.10 million tons, the highest monthly level seen since July. January import licenses are currently at 1.03 million tons, […]
U.S. steel lobbying groups and the United Steelworkers union want the administration of President-elect Joseph Biden to keep Section 232 tariffs and quotas in place. The steel groups and the union think the protections are necessary because of global steel overcapacity and because of the economic impact of the Covid-19 pandemic, according to a recent […]
We welcome Michael Cowden to Steel Market Update next week as the guest speaker for our SMU Community Chat. The webinar will be held on Wednesday, Jan. 13, at 11 a.m. ET. The webinar is free to anyone who is interested in the flat rolled and plate steel markets. Joining Michael will be SMU President […]
U.S. steel producers are worried that a change to the Section 232 exclusion process could gut the Trump administration’s signature trade act. The focus of concern: The Commerce Department’s potential adoption of “General Approved Exclusions” (GAEs) into the Section 232 exemption process. “If permitted to stand, the GAEs will effectively eliminate Section 232 tariffs on […]
Count me as an optimist—that events move, sporadically and inconsistently, but generally toward progress. I received a lot of messages during the past week that wondered openly whether talks between the United States and the European Union might lead to an end to the steel and aluminum tariffs that have been in effect since 2018. […]
Count me as an optimist—that events move, sporadically and inconsistently, but generally toward progress. I received a lot of messages during the past week that wondered openly whether talks between the United States and the European Union might lead to an end to the steel and aluminum tariffs that have been in effect since 2018. […]
Steel Market Update is pleased to announce that veteran steel reporter Michael Cowden has become the newest member of the Steel Market Update team. Michael has joined SMU as Senior Editor where he will bring his experience reporting on flat rolled and plate markets, steel pricing, news and steel-related human-interest stories. “Michael Cowden is well respected within […]
Steel Market Update is pleased to announce that on Jan. 4, 2021, Michael Cowden will become the newest member of the Steel Market Update team. Michael will join SMU as Senior Editor where he will bring his experience reporting on flat rolled and plate markets, steel pricing, news and steel-related human-interest stories. “Michael Cowden is […]
Steel Market Update is pleased to announce that on Jan. 4, 2021, Michael Cowden will become the newest member of the Steel Market Update team. Michael will join SMU as Senior Editor where he will bring his experience reporting on flat rolled and plate markets, steel pricing, news and steel-related human-interest stories. “Michael Cowden is […]
Commerce released final steel import data this week showing October imports totaling 1.51 million net tons, up 20 percent over the month prior. Although imports increased for the month, recall that September imports had fallen to an 11-year low or 1.26 million tons. November import licenses are currently at the 1.40 million ton level, but […]
Preliminary census data shows October imports totaling 1.50 million net tons, up 19 percent over the 11-year low seen in September. For comparison, the lowest monthly import level in the past two decades occured in June 2009 at 862,000 tons. Due to large month-to-month swings in semifinished imports, the chart below shows total monthly imports on […]
Leading pipe and tube producers have announced another price increase of $50 per ton, as the cost of the flat rolled used to make tubular products continues to increase and market conditions continue to tighten. Nucor Tubular Products informed customers Tuesday, Oct. 13, that prices will increase on new orders of HSS, pipe, mechanical and […]
Nucor Tubular Products notified customers on Friday, Oct. 23, that it is increasing the pricing on all new orders for HSS, pipe, mechanical and piling products by $50 per ton. The steelmaker attributed the increase to rising raw material costs, strong demand and volatility of transportation costs. All orders booked prior to this announcement will […]
Nucor Tubular Products led the pipe and tube manufacturers announcing a $50 per ton price increase this morning on HSS, pipe, mechanical and piling products. EXLTUBE advised they were following the Nucor lead and announced their fourth price increase on HSS and A53B products matching the Nucor $50 per ton. New orders for foreign steel […]
Some leading pipe and tube producers are increasing prices by $50 per ton due to increased demand from construction and automotive-related industries, as well as higher raw material costs. On Monday, Nucor Tubular Products announced an immediate $50 increase on all new orders for HSS, pipe, mechanical and piling products. Atlas Tube followed suit on […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: A number of readers have asked for particulars on the recent actions on steel trade between the United States, Brazil and Mexico. The numbers are available in some detail now. I will try to explain these for the […]
Canadian-based Nova Tube & Steel says it will delay construction of its new pipe and tube steel plant in Delta, Ohio, until next year. The company plans to build a $70 million facility that will produce structural tubing. Construction was originally scheduled to begin on May 1 of this year, but was delayed due to […]
“It’s official, pandemics are not great for business,” understated Mike Barnett with an ironic smile during the SMU Community Chat Webinar on Aug. 5. Barnett, President and COO at Grand Steel Products, and Lisa Goldenberg, President of Delaware Steel Co. of Pennsylvania, described the challenge of operating a service center business during the COVID-19 crisis. Delaware […]
Olympic Steel posted a net loss of $6.5 million for the second quarter of 2020. Sales totaled $248 million, down from $429 million in Q2 2019 due to lower average selling prices and a significant decline in shipments as a result of pandemic-related shutdowns, including the automotive industry. “As the pandemic began to affect the […]
Steel industry trade groups have joined voices in calling for significant funding for state departments of transportation (DOTs) in the next phase of COVID-19 stimulus legislation. Members of The American Institute of Steel Construction (AISC), American Iron and Steel Institute (AISI), Steel Manufacturers Association (SMA), The Committee on Pipe and Tube Imports (CPTI) and the […]
Below is the agenda for the 2020 SMU Steel Summit Conference. For more information and to register, visit: www.SteelMarketUpdate.com/Events/Steel-Summit. Rising from the Ashes All timings are in EST and all Agenda items will be available on-demand as well as live Monday, August 24, 2020 08:00 AM How to Get the Most from the Virtual Conference: […]
Below is the agenda for the 2020 SMU Steel Summit Conference. For more information and to register, visit: www.SteelMarketUpdate.com/Events/Steel-Summit. Rising from the Ashes All timings are in EST and all Agenda items will be available on-demand as well as live Monday, August 24, 2020 08:00 AM How to Get the Most from the Virtual Conference: […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: The Trump administration’s trade policies make for interesting reading; but the results of those policies are, if anything, more interesting. Tariffs are the hallmark of the Trump presidency, especially the Section 301 tariffs on China and the Section […]