Analysis
October 11, 2022
Written by David Schollaert
On Friday the Bureau of Labor Statistics released its latest report card on the US economy’s performance with its September jobs report. The results, though surprisingly upbeat, point to potentially more troublesome days ahead, both personally and collectively for the steel industry.
So here are just a few thoughts to ponder as October nears the halfway mark, and the fourth and final quarter of 2022 is well underway.
The Commerce Department has made its preliminary findings in the anti-dumping portion of the trade case investigating large-diameter graphite electrodes (LDGE) from China and India. The agency found that LDGEs from both countries are being, or are likely to be, sold in the US at less-than-fair-value.
The US Department of Commerce has determined that the anti-dumping duty (AD) suspension agreement on cut-to-length plate imports from Ukraine should not be sunset.
This October, SMU is introducing a new way to keep you informed on the latest steel market news and insights: the Daily Digest. Beginning in mid-October, our new Daily Digest will replace the three newsletters currently delivered each week.
There has been sustained export activity from the US on both the East and West Coasts. Prices have continued to rise, influenced by several factors, including elevated freight costs and firming markets in exporting countries.
Nucor said its consumer spot price for hot-rolled coil will be $1,220 per short ton (st) for the week of Sept. 28. That's a 10/st increase from a week earlier.