Analysis
September 5, 2023
Written by Michael Cowden
The spot market remains quiet on fears of a potential United Auto Workers (UAW) union strike late next week.
US President Biden said a UAW strike against Ford, General Motors, and/or Stellantis is “not gonna happen.” That might be vindication for those of you who’ve told me that the market has erred in baking in a strike.
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.
Steel mill lead times continued to expand for sheet and plate products this week, according to buyers responding to our latest market survey.
The overall mill negotiation rate ticked up slightly this week, but the overwhelming majority of buyers are still finding mills inflexible on price, according to our latest survey data.
The October market for domestic ferrous scrap is viewed with optimism mainly by participants on the selling side
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.