• Skip to main content

    Analysis

    June 28, 2024

    SMU Steel Summit: The clock is ticking!

    Written by Ethan Bernard

    July is less than a week away, which means SMU’s Steel Summit in August is just around the corner.

    Nearly 900 steel industry professionals from about 400 companies have already registered to attend the Summit, Aug. 26-28 at the Georgia International Convention Center (GICC) in Atlanta.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

    Read more from Ethan Bernard

    Latest in Analysis

    GrafTech losses widen, modest demand growth still expected

    GrafTech International continues to expect modest growth in graphite electrode demand for the full year of 2026. The company reaffirmed its expectation of a 5-10% year-over-year increase in graphite electrode sales volume as it seeks to gain market share. “Overall, we continue to see improving trends across several of our key regions,” CEO Tim Flanagan said on a conference call Friday to discuss its third quarter results.

    Reliance says caution around foreign buys makes import flood unlikely

    Reliance Inc. is keeping a close eye on inventory as extended lead times, elevated prices, and tight material availability complicate purchasing decisions. Executives at the Phoenix-based service center said on Thursday's third-quarter earnings call that inventory levels were appropriate. The company is reducing excess inventory and focusing on inventory turns. Chief Financial Officer Arthur Ajemyan said inventory turns improved 10% year over year.

    Final Thoughts: Is the steel market now tighter than in 2021?

    "Now, the problem is no longer the price. The problem is having access to steel." That would have made a good lead. But I can’t take credit for it. Those (very quotable) words are from Cleveland-Cliffs Chairman and CEO Lourenco Goncalves during the steelmaker’s quarterly earnings conference call on Monday. For a while, I thought the shortages we'd been hearing about might be mostly a problem for small- and mid-sized buyers. But we’re seeing even some of the biggest steel buyers talking openly about supply problems.

    Commerce lowers Mexico’s dumping rate in CORE case

    The US Department of Commerce has reduced the anti-dumping duty on corrosion-resistant steel (CORE) for some Mexican producers after a court order. On remand from the Court of International Trade (CIT), Commerce agreed that the record did not show that Galvasid SA de CV’s US customers separately negotiated or paid freight or insurance. The agency therefore removed the adjustment and recalculated the margin. As a result, the agency lowered Galvasid’s coated steel dumping rate to 14.54%, from 24.05%. The all-others rate is now 14.29%, down from 17.42%. Ternium’s rate is unchanged at 14.17%.

    AIA: Architecture business conditions weaken further in September

    Architecture firms reported weaker business conditions in September, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects and Deltek. The share of firms reporting declining billings was the largest since May. The September ABI fell two and a half points from August to a four-month low of 44.7. The ABI has been in contraction for all but two months since August 2022, indicating continually weakening business conditions following the post-pandemic rally. The ABI is a typical leading indicator of nonresidential construction activity, leading construction spending by approximately 9–12 months.