Tag: trade

After a holiday period that saw HR futures volumes somewhat muted in December, the first week of January brought with it increased interest reflected in higher volumes.

Pig iron prices rose month over month (MoM) in all major regions aside from Europe on improved buying. Demand in the US remains robust while market participants report that availability of Brazilian material increased after tightening a month prior. Meanwhile, Ukrainian export capacity increased due to greater access to temporary sea corridors.

US hot-rolled coil (HRC) prices were unchanged this week but remain significantly more expensive than offshore product. While imported hot band tags increased vs. last week, gains were marginal, keeping domestic HRC substantially more expensive than imports. All told, US HRC prices are 24.3% more expensive than imports, a premium that is down only slightly […]

TimkenSteel said on Wednesday it is changing its company name to “Metallus Inc.”

I expected that we’d start off January with prime scrap prices modestly up if for no other reason than industrial activity typically slows down over the holidays. And mills’ appetite for scrap typically increases in anticipation of stronger Q1 order activity.

Domestic steel mill shipments increased in November vs. a year earlier, but fell month over month.

The US Department of Commerce will likely be lowering the antidumping duty (AD) rates on imports of welded steel pipe from the UAE.

Nippon Steel believes it can successfully complete its planned buy of U.S. Steel, according to a report in Reuters.

All good things, including but not limited to the Holiday Season, must come to an end. The corporate independence of U.S. Steel Corporation looks like it’s coming to an end also, despite objections from some politicians and the United Steelworkers union.

The Department of Commerce issued its final determination in the trade case involving tin mill products from a handful of countries.

The new year represents an opportunity to capitalize on America’s leadership position in free market principles, steel industry modernization, and global efforts to create a lower carbon future for the steel industry. Steel Manufacturing Association (SMA) members are poised to lead the way.

The International Trade Commission (ITC) held a hearing on Thursday, Jan. 4, to consider arguments for and against the imposition of antidumping and countervailing duties (AD/CVDs) on tin mill products from a handful of countries. Both sides made compelling arguments.

The LME aluminum 3-month price was moving further down on the morning of Jan. 5 and was last seen trading at $2,287 per metric ton (mt) as of this article’s writing, already down 6% from its recent peak. SHFE cash also concluded the first week of the year on a weaker foot. The cash contract […]

After a brief decline in the price of scrap for the Turkish market, which peaked in December at approximately $424 per metric ton (mt) for HMS 80/20, the market has bottomed at $405/mt on cargoes from Europe.

US hot-rolled coil (HRC) prices moved up again this week and remain significantly more expensive than offshore product.

After falling in November, steel imports appear to have bounced back to a five-month high in December.

Wilbur Ross doesn’t believe the proposed sale of U.S. Steel to Japan’s Nippon Steel poses any threat to the economic or national security of the US.

The Mexican government has placed anti-subsidy (CVD) duties of almost 80% on cold rolled (CR) sheets from Vietnam, with the caveat that if the importer can prove the steel comes from a country other than China then it is exempt from the levy.

After meeting with Nippon Steel, the United Steelworkers (USW) union remains weary of the company’s proposed acquisition of U.S. Steel.

US hot-rolled coil (HRC) prices might have plateaued. But while prices for offshore product have increased in some regions, imports remain significantly cheaper that domestic material. All told, US prices are roughly 26% more expensive than imports, a premium that is down only slightly from last week.

Political opposition to Nippon Steel Corp.’s (NSC) proposed purchase of U.S. Steel continues to build.

I was asked to do an interview for a cable news channel in Ohio about Nippon Steel’s planned acquisition of U.S. Steel for more than $14 billion.

A World Trade Organization (WTO) dispute panel has ruled in favor of the US in a case regarding retaliatory tariffs imposed by Turkey in response to Section 232 tariffs on steel and aluminum.

US Sens. JD Vance (R., Ohio) and John Fetterman (D., Pa.) have come out against the sale of U.S. Steel to Japan’s Nippon Steel.

Mexican steel association Canacero has responded to a Dec. 13 letter from US senators, and disputes the claim of a “surge” of Mexican steel imports.

Over many years—even centuries—the wisdom and utility of tariffs as an instrument of government policy in peacetime have been debated. That incessant debate continues, and is likely to persist. 

For our last SMU Spotlight of 2023, we had the pleasure of chatting with American Iron and Steel Institute (AISI) president and CEO Kevin Dempsey.

Import duties on cut-to-length plate from South Korea and Italy were recently updated by the International Trade Administration (ITA), which is a part of the US Department of Commerce.

Thursday felt eerily quiet after a frenzy of steel and financial market news on Wednesday.

SMU’s Community Chat on Wednesday, Dec. 13, featured Bank of America SVP Ira Kreft.