Market Segment
September 4, 2024
Written by Ethan Bernard
Domestic steel shipments remained nearly flat in July month over month but fell from a year earlier.
The American Iron and Steel Institute (AISI) said US mills shipped 7,160,731 short tons (st) in July vs. 7,152,135 st in June. Still, this marks a 4.1% decrease from the 7,467,446 st shipped in July 2023.
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.
Metalformers’ optimism softened in the Precision Metalforming Association (PMA) September Business Conditions Report.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.