Market Segment
August 17, 2023
Written by David Schollaert
The spread US hot-rolled coil (HRC) prices had held over offshore product for much of the year has almost evaporated, according to SMU’s latest foreign vs. domestic price analysis.
Domestic HRC tags have been steadily declining since peaking in mid-April. As a result, the spread between US and imported product, which had ballooned to roughly 23% on average, is now less than 3%.
Global raw steel production slowed for the third month in a row in August, according to the latest figures from the World Steel Association (worldsteel).
The US Department of Commerce has preliminarily determined that critical circumstances exist in the countervailing duty (CVD) investigation of imports of large-diameter graphite electrodes (LDGEs) from China.
SMU’s Mill Order Index (MOI) accelerated in August for a fourth consecutive month, reaching its strongest reading in nearly five years.
Tk accelis announced the launch of a new B2B steel buying and selling marketplace called steelbuy USA.
Farming equipment manufacturer John Deere announced it will call back more than 375 employees to work across its Quad Cities factory operations.