Market Segment
August 18, 2023
Written by Laura Miller
US steel exports remained elevated during the month of June, staying above the 900,000-ton mark for a second consecutive month.
The US exported 901,349 net tons of steel products during the month of June, according to the latest data from the US Department of Commerce. This was just 1% lower than the month prior but 13% above levels one year ago.
The American Iron and Steel Institute (AISI) is pressing President Donald Trump to raise the issue of China’s steel exports and industry subsidies during his upcoming summit with Chinese President Xi Jinping.
Private equity firm SCF Partners announced it has acquired American Piping Products (APP), a pipe and tube distributor headquartered in Chesterfield, Mo.
The Greenbrier Companies received orders for 3,400 new railcars with an aggregate value of ~$600 million during its fiscal fourth quarter ended Aug. 31.
Worthington Enterprises reported higher fiscal first-quarter sales and earnings while citing rapidly growing data center demand and continued tightness in the steel market.
The current plate market squeeze has been driven by improved demand and heightened import barriers, including 50% Section 232 tariffs. But the timing of fall outages—even if they were planned—is exacerbating the supply crunch.