Market Segment
April 14, 2023
Commerce Finds Circumvention of P&T Duties Via Vietnam
Written by Laura Miller
The US Department of Commerce has made initial decisions in several duty circumvention cases involving pipe and tube products from Asia.
Latest in Market Segment
Join SMU on Tuesday for a Community Chat with SMA President Philip K. Bell
Philip K. Bell, president of the Steel Manufacturers Association (SMA), will join SMU for a Community Chat on Tuesday, Nov. 17. The live webinar is free for anyone to attend. The recording and slide decks will be available only to SMU subscribers. Bell is plugged into steel and plugged into DC politics, which makes this chat a must-see, especially as we prepare for a new, Democratic-controlled Congress to convene in January.
Price: Blue wave may rock tariff boat, but some ships like Section 232 aren’t sinking
The midterms are over, and Democrats will control both chambers of Congress in January. In this space last week, Lewis Leibowitz predicted that President Trump's tariffs, including Section 232, may not last much longer. We disagree. To be sure, the new Congress will change trade policy. It will hold hearings, write bills, and almost certainly revisit the trade dispute with Canada. But the foundation of US trade policy is unlikely to be disturbed. Section 232 and Section 301 are established, court-tested authorities that both parties have used. They are also working.
CSN reports wider net loss as steel shipments, revenue fall
Brazilian miner and steelmaker Companhia Siderúrgica Nacional (CSN) increased steel production in the third quarter, but lower overseas shipments and a less favorable domestic product mix weighed on its quarterly results. The company also said renewed import pressure limited further price pass-throughs.
Stelco to restart idled Hamilton finishing operations on Dec. 1
Stelco will restart finishing operations at its mill in Hamilton, Ontario, on Dec. 1. The company cited improved demand. The Canadian flat-rolled steelmaker will also recall 175 workers who had been laid off. The workers will be "made whole" retroactively for wages lost while they were laid off, Stelco said on Friday. Stelco initially proceeded with layoffs despite threats of legal action from the Canadian government.
US heating and cooling shipments fall for third straight month
US shipments of heating and cooling equipment slipped in September for a third consecutive month, according to the latest data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). Shipments declined 2.6% month on month (m/m) in September, after having fallen 10% m/m in August. The monthly pace marks the third-slowest shipment rate year to date. Historically, shipments are strongest in early summer and weakest around the turn of the year, driven by seasonal air conditioner and heat pump volumes. AHRI's data shows September shipments totaled 1,687,240 units, down 2.6% m/m but up 7.7% year over year (y/y) (Figure 1, left). From August to September, shipments of warm air furnaces, A/C, and heat pumps declined, while water heater shipments rose. Compared with a year earlier, only air conditioners and heat pump shipments were higher.