Have you ever experienced the dizzying sensation of vertigo? Perhaps you were on a Steel Market Update workshop tour and felt woozy as you ascended higher and higher on the catwalks during the mill tour. ArcelorMittal South Africa recognized the danger that a fear of heights could cause employees who work in extreme conditions and […]
The hot strip mill at NLMK’s Farrell, Pa., facility will be down for the next seven to 10 days. SMU spoke with James Banker, Jr., who said that a component failure in a motor is taking the mill down for unplanned maintenance. The number of tons of production that will be lost is not significant. […]
Mark Bula, chief commercial officer at Big River Steel, is leaving the Osceola, Ark., steelmaker to pursue new entrepreneurial opportunities, according to a statement from the company. Keith Shuttlesworth, currently Big River Steel’s general manager of the Carbon Sales Group, will become the company’s new chief commercial officer. Shuttlesworth joined Big River Steel after an […]
For the many friends and admirers who believed Don Simon would be in the steel business forever, the day has finally come. Simon has sold the family business to Union Partners. “I am extremely grateful to have been able to serve the steel industry for as long as I have,” stated the 87-year-old Simon, who […]
Calstrip Industries announced plans to build a $15 million steel processing plant on the Nucor campus near Blytheville, Ark. The 100,000-square-foot first phase of the facility will be adjacent to Nucor Arkansas’ new specialty cold rolled mill, currently under construction. Calstrip will operate slitting and multi-blank cut-to-length lines at the Arkansas location and will create […]
Michael Barnett has been appointed president and chief operating officer of Grand Steel Products, Inc., Wixom, Mich., transitioning the company leadership from his father Jim Barnett. “It is with great pleasure, excitement and confidence that I announce Michael Barnett has been appointed president and COO of Grand Steel Products, Inc.,” stated company founder Jim Barnett. […]
The U.S. steel industry continues to find new ways to help automakers lighten vehicles for better fuel efficiency. One of the latest developments is by ArcelorMittal in partnership with Honda. Engineers from the two companies designed the industry’s first hot-stamped, laser-welded inner and outer door ring using ultra-high-strength steel. The system replaces conventional multi-piece, spot […]
In its final determination in the Vietnam CORE anti-circumvention case, the Commerce Department ruled Thursday that imports of corrosion-resistant galvanized steel from Vietnam will still be subject to substantial antidumping and countervailing duties unless the importer can prove the substrate used in the production process was not sourced from China. “Commerce may face challenges to […]
Steel Dynamics has announced it will acquire CSN Heartland from CSN Steel, a wholly-owned subsidiary of Companhia Siderurgica Nacional, for $400 million, subject to regulatory approval. SDI expects to close the transaction by the end of third-quarter 2018. Heartland, located in Terre Haute, Ind., produces hot rolled pickled and oiled steel, cold rolled and galvanized […]
Lewis Leibowitz, a trade attorney and contributor to Steel Market Update, offers the following update on trade issues in Washington affecting the steel industry: • Section 301 Hearing on Proposed Tariffs: On May 16, the U.S. Trade Representative’s office will kick off three days of hearings on the proposed Section 301 tariffs on China announced […]
Tinplate steel manufacturers received the backing of a bipartisan group of House members who urged the administration to exclude steel used for can manufacturing from Section 232 tariffs. In a letter dated May 10, Congress members implored Commerce Secretary Wilbur Ross not to impose 25 percent tariffs on steel used exclusively for can manufacturing, citing […]
In a strategic purchase that expands its production capabilities in the Southwest, SteelCo USA has acquired certain assets of the former Douglas Steel Supply, based in Vernon, Calif. The assets acquired in the agreement include multiple large-scale production lines, material handling equipment, vehicles, tooling and inventory. “The addition of this equipment to SteelCo USA’s existing […]
Nucor Corp. announced it will build a new $240 million galvanizing line at its Arkansas sheet mill as part of its strategy to diversify its strategic end-market applications. The new line will have an annual capacity of approximately 500,000 tons and is expected to be operational in the first half of 2021. The galvanizing line complements […]
On Thursday, the White House Office of Science and Technology Policy invited government officials, technical experts in academia, heads of industrial research labs and business leaders to attend the “Artificial Intelligence for American Industry” summit. Big River Steel’s chief executive officer Dave Stickler was in attendance as part of the discussions on how industries are […]
ArcelorMittal NAFTA posted sales of $4.8 billion for the first quarter of 2018, up 10.6 percent sequentially. Steel shipments increased 4.8 percent from the fourth quarter to 5.9 million metric tons driven by higher volume of flat products due to improved market fundamentals. Average selling price increased 3.5 percent for flat products and 9.1 percent […]
This week, objections to steel product exclusion requests started to appear in the government website. First, an update on exclusions: 7,561 comments filed (not all of these are exclusion requests; there are some general comments. However, most are likely exclusion requests or objections) 2,671 comments posted on the website, of which 21 are general comments. […]
Thousands of manufacturers, big and small, have filed paperwork with the Commerce Department requesting that their products be exempted from the 25 percent tariff on steel imports and 10 percent tariff on aluminum imports. Their argument is that their product must be imported because it is not produced in the United States in a sufficient […]
In a bipartisan letter to Commerce Secretary Wilbur Ross on Monday, 39 members of the House argued that the process for reviewing Section 232 tariff exclusion requests is moving far too slowly. They urged Commerce to streamline the process and provide certainty and relief to the thousands of small businesses impacted by the tariffs. Commerce […]
Thailand was granted a tariff exemption for steel pipe exports to the United States, but only on a shipment basis, said Wanchai Varavithya, deputy director-general of the Commerce Ministry’s Foreign Trade Department. Said Wanchai, “Although the U.S. Department of Commerce has yet to grant a waiver on import tariffs for all shipments from Thailand, exporters […]
Members of Congress have asked the Commerce Department to clarify and improve the process by which manufacturers apply for exclusions from Section 232 tariffs for raw materials required to produce their products. The following is a statement from the Coalition of American Metal Manufacturers and Users commending the action and expressing concern over the use […]
Italian steel mill Ilva will finally have a new owner. The European Commission has granted approval for the acquisition by global steel producer ArcelorMittal. “EC merger clearance follows the conclusion of the Commission’s Phase II investigation into the proposed acquisition of Ilva, and has been granted on the basis that the Company has committed to […]
Lewis Leibowitz, a Washington trade attorney and contributor to Steel Market Update, reports on announcements this past week on Trump administration tariff exemptions/quotas: • Argentina reached a quota agreement on steel, which means that imports from that country (mostly seamless pipe for energy use) will not pay the 25 percent tariff. They agreed to an annual […]
Trade attorney Lewis Leibowitz has been gracious in offering our readers his take on trade issues on almost a daily basis. With the wide variety of trade issues confronting U.S. companies it is very difficult to stay on top of those that might affect your company, either today (such as Section 232 tariffs, AD/CVD duties) […]
Russian steelmaker NLMK says it may have to close its U.S. division if it does not receive an exemption from the 25 percent steel tariff. NLMK USA depends on slab shipments from Russia and cannot source enough slabs in the U.S. to maintain its operations. “Without exclusion for semi-finished steel slabs, the tariffs will have […]
Shortage of truck availability and drivers is putting the squeeze on freight shipments in May. Anecdotal comments in steel earnings reports indicate mills and distribution centers are having difficulty finding trucks to move their products and higher freight costs are increasing operating costs. Steel Market Update looks at some of the current issues facing freight […]
Trade attorney Lewis E. Leibowitz has been providing updates on the Section 232 tariffs, product exclusions and country exclusions on almost a daily basis over the past couple of weeks. We have been sharing his thoughts with our readers as many of you are (or will be) impacted by the existence of tariffs and/or quotas. […]
Argentina and South Korea will be exempt from Section 232 tariffs in exchange for agreeing to quotas on steel and aluminum products. Argentina’s steel quota will be 135 percent of the average of Argentine steel exports during the past three years. The quota will allow the import of about 180,000 tons of steel per year […]
Brazil says it will agree to quotas on finished and semi-finished steel exports to the U.S. in return for exemption from the 25 percent Section 232 tariffs, according to Inside U.S. Trade. Brazil is the latest country to capitulate to U.S. demands, agreeing to a quota of 70 percent of its three-year average exports of […]
Ryerson Holding Corp. reported an exceptional first quarter with net income of $10.4 million and revenue of $942.3 million. First-quarter revenue improved 16.1 percent over fourth quarter due to higher volume, seasonal improvement, and higher average selling price. Ryerson shipments totaled 526,000 tons for the quarter at an average selling price of $1,790 per ton. […]
Olympic Steel reported that net sales jumped 12 percent year-over-year to $335 million in first quarter after all three of its operating segments reported double-digit growth. “Accelerating shipments and rising prices throughout the first quarter resulted in our highest operating income in any quarter since 2011,” said Chairman and CEO Michael Siegal. Operating income increased […]