In their pursuit of free and fair trade, U.S. steelmakers are often called protectionist—a label they increasingly resent.
Steel industry trade groups, including the American Iron and Steel Institute and the Steel Manufacturers Association, have urged the Trump administration to take a harder stance on steel imports. Trade action, including new tariffs or quotas under the now-delayed Section 232, are necessary to counter the unfair advantage held by foreign competitors who are subsidized by their governments, they say. Others in the supply chain contend that restricting steel imports on the grounds they pose a threat to national security is simply a ploy to give domestic steelmakers an opportunity to raise prices. Some even call the domestic steel companies hypocritical in their appeals for more free trade globally while supporting more trade restrictions at home.
Construction employment increased by 6,000 jobs in July to the highest level since October 2008, amid a tight labor market that may be keeping contractors from hiring as many workers as they need, according to an analysis of new government data by the Associated General Contractors of America. Association officials urged local, state and federal leaders to enact measures designed to expose more high school students to high-paying careers in construction to offset growing labor shortages.
USS-POSCO Industries (UPI) has promoted MD. Amin to Vice-President of UPI's Commercial Group. Amin will lead the company's sales and marketing activities.
Construction employment made the biggest gains in metro areas in June with particular strength in the western U.S., according to an analysis of data by the Associated General Contractors of America. The largest losses were in the middle or eastern parts of the country, noted AGC Chief Economist Ken Simonson.
U.S. Steel anticipates no delays in customer shipments following an explosion at its Great Lakes Works hot strip mill Monday night, which sent five employees to the hospital. Three of the injured were released, while two were admitted for further treatment. One employee was treated and released at the plant's on-site medical facility.
Written by: John Packard, Founder, Steel Market Update
Steel Market Update was incorporated and began selling subscriptions (memberships) of just our steel newsletter during August 2008. Today, we are celebrating our ninth birthday. I want to take a moment to thank our members and those who participate in our conference and workshops. I want to thank those of you who read our newsletters, blog posts, social media posts and especially those who speak highly of SMU to your customers, suppliers and friends in the industry. We have been blessed over the last nine years and we are looking forward to having many more celebrations in the years to come.
Steel Market Update began with a mission to provide quality steel market intelligence to those who were buying and selling steel. I felt at the time (and still do) that the market craved an “insider’s” view of what was happening to prices, momentum, supply and demand, inventories, trade (foreign steel) and many other issues affecting the industry.
I also have always been interested in making sure buyers and sellers of steel were receiving information about the process of buying and selling steel from someone with experience on the subject. Early on we started writing articles on: The Truth About Selling Steel and Steel Buyers Basics. Recently, we added a new category called: Ethics and Your Business.
Construction spending is suffering from a decrease in public investment said Ken Simonson, chief economist at the Associated General Contractors of America.
"Construction spending is still increasing overall but growth has become much more uneven across categories in recent months," said Simonson. "There has been a steep decline in public investment in nearly all types of construction over the past year. Private nonresidential construction is still rising overall but generally at slower rates than was occurring a few months ago."
On Monday, Aug. 28, the steel event of the year will kick off in Atlanta. With four weeks to go and 560 steel and manufacturing executives already registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the 7th Steel Market Update (SMU) Steel Summit Conference. This is what the fuss is all about.
Three days of rubbing shoulders with decision-makers from around the United States, Canada and Mexico as we enjoy one another while learning, networking and preparing your company for the future. We also have industry executives coming from Ecuador, Poland, Egypt and the United Kingdom.
We have 23 excellent speakers presenting topics of interest for those involved in the steel industry. Steel Market Update has spent 12 months preparing for this conference with one goal: for this conference to be the best one yet. We think we will accomplish that goal.
Here is how we see the three days of our conference playing out:
“Business negotiation is similar to poker. Just because I may be bluffing doesn’t mean I am morally defective. Bluffing is a universally recognized part of the game,” responded one reader to Steel Market Update’s new “Ethics and Your Business” column.
There are but four very short weeks to go before THE major steel event of the year will kick off in Atlanta. Steel Market Update (SMU) is hosting our 7th SMU Steel Summit Conference, the fastest growing steel conference in North America.
Why is our conference so successful? Listen to some of last year’s attendees (click to play):