Tag: US

Domestic scrap prices ended up down slightly after a roller coaster of trading in January, scrap sources told SMU.

Raw steel production in the US decreased marginally in the second week of 2024, according to the most recent data from the American Iron and Steel Institute (AISI). Domestic steel output totaled an estimated 1,699,000 net tons in the week ended Jan. 13. That’s down 0.5% from the previous week, and comparable to the same […]

US service center flat-rolled steel inventories surged in December with the seasonal slowdown in shipments. At the end of December, service centers carried 64.8 shipping days of supply, according to adjusted SMU data, up from 54 days in November.

November’s shipments for domestic heating and cooling equipment shipments declined for a third consecutive month, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).

After three months of provocations, the US and Britain retaliated against Houthi rebels in Yemen, bombing several sites in North Yemen that assisted in Houthi attacks on international shipping in the Gulf of Aden and the Red Sea. The Houthi rebels are widely seen as Iranian proxies, launching attacks to provoke the West into attacking Yemen, leading to more attacks on shipping.

Active rigs in the US dipped slightly this week, while Canada's count increased for the second consecutive week, according to Baker Hughes.

The Global Steel Climate Council (GSCC) was formed to advance the steel industry's climate strategy. And its intentions are clear: establish standards and advocate for carbon emission reductions by industry members.

The United Steelworkers (USW) union is accusing U.S. Steel of labor contract violations as the steelmaker pursues its potential sale to Nippon Steel.

With a new leadership team and a more streamlined workforce, digital metals marketplace Reibus is entering a new phase of its evolution as an innovator in the metals industry.

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.

Hot-rolled (HR) coil prices remain in the holding pattern they've been in since mid-December, according to SMU pricing archives.

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.

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.

Active domestic rotary rigs dipped slightly this week, but Canada's firms increased their count significantly, according to Baker Hughes.

SMU’s Buyers Sentiment Indices both fell this week, with current sentiment taking a large dive to begin the new year, according to our most recent survey data.

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 […]

The iron ore price has edged up further from the already high level seen last week. The market is generally slow, meaning that the moderate price increase came from the bullish outlook from the market following last week’s stimulus announcements from China and expectations of restocking picking up. Supply fell w/w from both Australia and Brazil as […]

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.

Steel mill lead times pulled back across the board this week but are still said to be at healthy levels, according to SMU's market survey this week.

Radius Recycling reported a net loss in its fiscal first quarter of 2024 on tighter supply flows for recycled metals and lower average selling prices for the company’s products.

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

New Reibus CEO Temy Mancusi-Ungaro and company President Chris Shipp will join SMU for the inaugural Community Chat of 2024 on Wednesday, Jan. 10, at 11 am ET. You can register here.

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