Steel Products Prices North America
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USW Supports Trade Case Filing
Written by Sandy Williams
June 3, 2015
The United Steel Workers said Wednesday that the union fully supports the antidumping and countervailing petition filed on corrosion-resistant steel products. The petition, said the USW in a press release, details ”how a flood of subsidized and unfairly traded steel imports from China, India, Italy, South Korea and Taiwan has damaged the US steel industry by undercutting price domestic prices over the past three years.”
USW International President Leo Gerard, called on the Department of Commerce and USITC to act “swiftly and decisively” in defense of American workers.
“By any metric, USW members are the most productive and efficient steelmaking workforce on the planet,” said Gerard. “We cannot allow these family supporting, community sustaining jobs to disappear because our competitors continue unfairly dumping their subsidized products on our shores.”
USW International Vice President and Basic Steel Industry Conference Secretary Tom Conway said a “major overhaul” of U.S. trade policy and enforcement is needed.
“For decades, American workers have paid the price of failed trade policies and inconsistent enforcement of flawed trade agreements,” said Conway. “Congress and the administration need to take responsibility for changing the system that has cost more than a million manufacturing jobs and shuttered thousands of factories, mainly in industries that employ USW members.”
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Sandy Williams
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CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
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Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
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Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
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Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
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CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]