Commerce updates import duties on plate from Korea, Italy
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.
Tag: US
Service Center Shipments and Inventories Report for November
Flat Rolled = 54.0 Shipping Days of Supply Plate = 61.7 Shipping Days of Supply Flat Rolled After three months of inventory cuts, US service center flat-rolled steel inventories grew in November as shipments slowed. At the end of November, service centers carried 54 shipping days of flat-rolled steel supply on an adjusted basis, up […]
U.S. Steel follows Nucor, guides to lower Q4 profits
U.S. Steel on Thursday afternoon said it expected lower earnings in the fourth quarter compared to the third. The Pittsburgh-based steelmaker predicted fourth-quarter adjusted earnings before interest, income taxes, depreciation, and amortization (Ebitda) of approximately $250 million, or $0.20-$0.25 per diluted share.
SMU Community Chat: Ira Kreft shares thoughts on M&A, economy, and more
SMU’s Community Chat on Wednesday, Dec. 13, featured Bank of America SVP Ira Kreft.
US HRC now nearly $300/ton more expensive than imports
US hot-rolled coil (HRC) prices continued their upward movement this week, distinctly outpacing increases for offshore product once again. Domestic tags are now 27% more expensive than imports - the widest pricing gap in nearly two years.
HRC Futures: The role a hedge plays
Last week in Chicago, we hosted several metals companies for our bi-annual Metals Price Management Seminar (“MPMS”).
Duties adjusted on coated imports from South Korea, Taiwan
The US Department of Commerce’s International Trade Administration (ITA) has updated the antidumping duties on coated sheet imports from South Korea and Taiwan.
Steel market chatter this week
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel sheet prices, demand, inventory, imports, and what people are talking about in the market. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your […]
SMU Price Ranges: Sheet moves up again, plate holds steady
Sheet prices increased again this week on the heels of higher costs for scrap, pig iron, and iron ore.
UAW's Fain gives plan for unionizing non-union auto workers
United Auto Workers President Shawn Fain outlined the union’s strategy to unionize nonunion auto workers in the US.
Apparent steel supply increased in October
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).
AISI: US raw steel output falls but up in three regions
Domestic steel production slipped for the week ended Dec. 9 but rose in three regions, according to the American Iron and Steel Institute’s (AISI’s) report on Monday, Dec. 11.
Pipe import duties sunset for Brazil, kept for six other countries
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.
Leibowitz: Steel and aluminum intensity—the trade implications
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.
October steel exports fall to 2023 low
US steel exports declined for the second month in a row in October, falling to the lowest monthly total so far in 2023.
November import licenses fall to recent low
A count of November license applications suggests steel imports were at their lowest monthly level in 33 months.
Rig count: US, Canada counts edge up as weather cools down
Active rotary rigs in the US and Canada are up for the second consecutive week, according to Baker Hughes.
CRU: The 2024 US elections - What it means for policy
The US presidential elections will take place on Nov. 5, 2024.
Russel Metals to buy seven of Samuel’s operations
Canadian metals distributor Russel Metals Inc. plans to acquire Samuel, Son & Co.’s carbon plate service center operations in Western Canada and the US for roughly $225 million.
EXCLUSIVE: Stickler Embraces Technology in New Rebar Venture
David Stickler is eager to demonstrate how advancements in technology can contribute to making the rebar market more sustainable.
ArcelorMittal: CSP Deal to Close in Feb, NA Expansions Progress
ArcelorMittal expects that its $2.2-billion acquisition of Brazilian steelmaker Companhia Siderúrgica do Pecém (CSP) will close in late February. “The transaction closes end of this month,” chief financial officer Genuino Christino said during an earnings call with analysts last week. The Luxembourg-based steelmaker had said that the deal had received final antitrust clearance in commentary […]
David Stickler's Hybar Plans New, $500M Arkansas Rebar Mill
Arkansas has become a hub for steel production in the southern US, and it will soon be home to another steel mill. Hybar, a newly formed company led by steel industry veteran David Stickler, announced it will build a $500 million greenfield minimill to produce rebar in northeast Arkansas just outside of Osceola. The new […]
New Hot Skin Pass Mill Starts Up at ArcelorMittal Mexico
ArcelorMittal Mexico has started up a new hot skin pass mill at its new hot rolling mill in Lázaro Cárdenas, Michoacán. The hot skin pass mill has come into operation seven months after the new $1 billion, 2.75-million-short-ton-per-year hot rolling mill produced its first coil. “We are very happy to reach today an important step […]