US apparent supply increased to 8.11 million net tons in October, up 4% compared to 7.82 million tons in September, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI).
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.
This year saw a huge increase in debate and proposals for addressing greenhouse gas emissions, not only here in the US but around the world.
US steel exports declined for the second month in a row in October, falling to the lowest monthly total so far in 2023.
A count of November license applications suggests steel imports were at their lowest monthly level in 33 months.
The US presidential elections will take place on Nov. 5, 2024.
The LME Aluminum 3-month price is moving up again on the morning of Dec. 8 and was last seen trading at $2,157 per metric ton. The way the price increased first thing in the morning suggests a support may have finally been found, but resistance could hit quickly at $2,200 /metric ton. SHFE cash was […]
The US International Trade Commission (ITC) held a hearing on Dec. 7 with testimonies from members of the domestic steel industry. The USITC is leading a fact-finding investigation on US greenhouse-gas (GHG) emissions.
The prices for all grades of pig iron have dramatically risen since SMU’s last report from Nov. 18.
US Hot-rolled coil (HRC) prices keep rising on the heels of continued mill hikes, outpacing increases for offshore product. Domestic tags are now 26% more expensive than imports, the widest pricing gap since January 2022.
A group of organizations and stakeholders introduced a set of Steel Standards Principles at the COP28 UN Climate Change Conference.
A coalition of manufacturers, retailers, and stakeholders stands opposed to the imposition of import duties on tin mill products.
CRU analysts share an update on the aluminm markets.
The export market for ferrous scrap has been strengthening over the last month by a sizable margin.
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 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.
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.
US scrap prices are expected to rise in December, industry sources told SMU.
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.
The increase in steel imports from September to October was higher than license applications had suggested earlier this month.
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 […]
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 […]
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 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.
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. […]
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 […]
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.
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 Industries said on Thursday its board of directors has approved the previously announced separation of its Steel Processing business, Worthington Steel Inc.
Several past columns in SMU have included comments about the futures forward curve, using terms like contango and backwardation