Miller on scrap: Export market prices rising
The export market for ferrous scrap has been strengthening over the last month by a sizable margin.
Tag: trade
Steel dominates repeat trade case filings: Report
Steel dominated the industries seeking repeated relief from unfair trade between 1995 and 2020, according to a new report compiled for the International Trade Commission (ITC).
US HRC remains $200/ton more expensive than offshore product
US Hot-rolled coil (HRC) prices continue to move higher following repeated mill increases. The trend has caused domestic tags to become far more expensive than imported offshore hot band.
OCTG producers form trade association to promote domestic industry
Six US manufacturers of oil country tubular goods (OCTG) have come together to establish a Washington, D.C.-based trade association to promote the domestic industry.
Domestic scrap tags seen increasing in December
US scrap prices are expected to rise in December, industry sources told SMU.
Final thoughts
I want to address a few things in this 'Final thoughts': the latest SMU survey results, the plate market, and the potential sale of U.S. Steel.
October imports inch higher, but flat rolled at a six-month low
The increase in steel imports from September to October was higher than license applications had suggested earlier this month.
Final Thoughts
There has been almost an assumption that US mills would get the $950-1,000 per ton ($47.50-50 per cwt) they were seeking on HR base and $1,150-2,000 per ton ($57.50-60 per cwt) for cold-rolled and coated base. Recall that Cliffs initially announced an increase and said it was seeking $1,000 per minimum for hot-rolled coil. Nucor […]
Leibowitz: IPEF failure a signal for the future?
Last week was billed as big. The annual meeting of members of the Asia Pacific Economic Cooperation (APEC) in San Francisco convened amid much fanfare. A much-anticipated meeting between President Biden and President Xi Jinping of China was a featured event. So also, was the anticipated completion of the framework agreements establishing the Indo-Pacific Economic […]
CRU: US Sheet Prices Soar, Making the Country a Target for Imports
Surging US sheet prices and expanding lead times are making imports more attractive. The automotive workers’ strike is essentially over, and domestic US sheet prices have rocketed higher alongside lead times. There is little to suggest that the momentum of these price increases will slow over the next month or two, and thus imports have […]
US HRC Now Theoretically ~$200/ton More Expensive Than Offshore Imports
US Hot-rolled coil (HRC) prices continue to surge on the heels of mill increases. They have become significantly more expensive than prices for hot band imported from offshore. Domestic hot band tags moved higher for a seventh consecutive week. Imports have seen only marginal gains over the same period, according to SMU’s latest foreign vs. domestic price analysis.
CRU: Tata Steel To Cut Jobs in the Netherlands
Tata Steel has announced plans to cut 800 roles at its sheet works in Ijmuiden, the Netherlands, to remain competitive and profitable in the future. “Despite all efforts by Tata Steel to improve its market position and reduce costs, more is needed and the company needs to bring down personnel costs further,” the company stated. […]
Final Thoughts
Cleveland-Cliffs announced it would seek a minimum base price of $1,000 per ton ($50 per cwt) for hot-rolled coil (HRC) on Nov. 7. Nucor said a day later that it was aiming for $950 per ton. Why didn’t Nucor follow Cliffs up to $1,000 ton? I think there might be some possible answers in our […]
ITA Finds Evasion of P&T Duties Via Vietnam in Final Ruling
Certain welded steel pipe and tube products being exported from Vietnam to the US have, in fact, been illegally evading the payment of import duties, a US government agency announced this week.
Final Thoughts
There seems to be a consensus that US sheet prices have nowhere to go but up in the short term, in part because offshore material ordered now won’t arrive until late March or even April.
Worthington Board OKs Separation of Steel Processing Business
Worthington Industries said on Thursday its board of directors has approved the previously announced separation of its Steel Processing business, Worthington Steel Inc.
HRC Futures: Utilizing Futures Spreads
Several past columns in SMU have included comments about the futures forward curve, using terms like contango and backwardation
US Hot Rolled Prices Surge Past Offshore Product
Hot-rolled coil (HRC) tags continue to rally in the US, broadening the price disparity between domestic and imported offshore product.
SMU Community Chat: US-EU Are ‘Nowhere Close’ to a Global Arrangement on Steel
Alan Price discussed the deep complexity of issues in the Global Arrangement on Sustainable Steel and Aluminum negotiations between the US and EU on Wednesday’s Community Chat.
AISI: The Environment Is a Trade Issue - Why Carbon Tariffs Are Needed
The American steel industry is the backbone of the US economy and produces the cleanest steel in the world.
Gap Widens Between US and Foreign Hot Band Prices
US hot-rolled coil (HRC) tags moved higher again this week, widening the gap in pricing between imported offshore product.
Final Thoughts
Sheet prices are getting back into very lofty territory. That’s assuming you can find spot tons available for the balance of 2023 – and some of you say you can’t.
Imports Fall in September, But Flat Rolled at Three-Month High
The decline in imports from August to September was more pronounced than license applications suggested earlier this month.
Leibowitz: US-EU Fail To Compromise, Deadlock on Steel and Aluminum
The long-anticipated US-EU summit took place on October 20. There was wide anticipation that the two sides would announce a partial agreement on steel and aluminum policy and perhaps an agreement on critical minerals, such as lithium for electric vehicle batteries. Even modest accomplishments such as these were not to be. Instead, the US and […]
CRU Aluminum: Relief Comes With Word of Pending UAW Deal
With the aluminum industry assembled in Nashville, Tenn., for the Aluminum USA 2023 conference, word was breaking of a tentative deal between the United Auto Workers (UAW) and Ford.
ArcelorMittal Warns St. Lawrence Strike Could Hit Dofasco Raw Material Supplies
Canadian steelmaker ArcelorMittal Dofasco could be impacted by a strike on the St. Lawrence Seaway, a company spokeswoman said.
Unifor Strike Shuts Down St. Lawrence Seaway
The St. Lawrence Seaway is shut down after members of Canada’s Unifor union went on strike against the St. Lawrence Seaway Management Corp. (SLSMC) this past weekend.
Apparent Steel Supply Increased in August
US apparent supply increased to 8.65 million net tons in August, up 5% compared to 8.24 million tons July, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI). Apparent steel supply is determined by combining domestic steel mill shipments and finished US steel imports, then deducting total […]
South Korea, Brazil Won’t Max Out HRC Quotas This Year
South Korea and Brazil will not be maxing out their allowable quotas on hot-rolled sheet shipments to the US for 2023, according to government data analyzed by SMU.
Leibowitz: The Global Energy Revolution Meets Trade Bottlenecks
Electricity demand worldwide is growing significantly, requiring massive investments in the electric grid to supply increased needs and desire for electricity. A recent report by the International Energy Agency (IEA) indicates that global demand for electricity will double from 2020 to 2050. In developed economies, the growth rate will be somewhat lower. But it will […]