A ruling that will assist in the enforcing measures against circumvention was approved this week by the U.S Court of Appeals for the Federal Circuit. The court ruled that the “substantial transformation analysis” is approved for use by Commerce in determining country-of-origin for products subject to antidumping and countervailing duties. The substantial transformation test determines […]
AK Steel reported solid first-quarter earnings but continued to advocate for trade action to curb unfair imports. “The high level of imports, particularly the ongoing surge of foreign electrical steel, remains a challenge, and we will continue to work proactively with the Trump administration to ensure fair and appropriate trade policies,” said AK Steel CEO […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: Product Exclusions—The Latest No objections to product exclusions had been posted on the regulations.gov website as of April 29. The BIS regulations require objections to be submitted to BIS within 30 days after a request has been posted. […]
A deal may be in the works for Brazilian steelmaker Cia Siderugica Nacional (CSN) to sell its U.S. operations to Steel Dynamics (SDI). Brazilian media reported that the sale price would be at least $250 million, and probably more, for CSN’s cold rolling and galvanizing facility in Terre Haute, Ind. American Metal Market suggests the […]
U.S. Steel Corp. says its asset revitalization program is working as evidenced by net sales of $3.14 billion and net earnings of $18 million for the first quarter of 2018. Earnings before interest and income tax for the flat-rolled segment were $33 million in Q1 compared to a loss of $88 million in first-quarter 2017. […]
Just days before the U.S. is due to announce if it will extend the steel tariff exemptions it granted to its closest trading partners, officials in Canada announced plans to strengthen border enforcement to prevent transshipments and diversion of unfairly priced steel into North America. It’s difficult not to see a link between Canada’s announcement […]
Steel producer Ternium reported shipments of 3.5 million tons in first-quarter 2018, a 3.0 percent increase from the fourth quarter and a 42 percent jump from Q1 2017. Higher steel prices pushed revenue up $45 per ton. Higher shipments were a result of a 160,000-ton increase in Mexico that was offset by a 48,000-ton decrease […]
Reliance Steel & Aluminum reported record sales of $2.47 billion and record shipments of 1.6 million tons in the first quarter of 2018. “The positive pricing and demand fundamentals experienced in the fourth quarter of 2017 continued through the first quarter of 2018, with pricing momentum building throughout the quarter,” said President and CEO Gregg […]
NAFTA negotiators are working feverishly to reach an agreement in principle by May 4. U.S. Trade Representative Robert Lighthizer canceled plans to meet with lawmakers from the New Democratic Coalition in favor of continuing meetings with his Canadian and Mexican counterparts. The Coalition, composed of 68 pro-trade House Democrats, hoped to have a chance to […]
ArcelorMittal Dofasco is undertaking a massive upgrade to its hot mill operations to improve quality and productivity. With help from a $23 million grant and loan from the province, ArcelorMittal is investing $151 million to develop advanced high-strength steels that are in demand by the auto industry. The Canadian steelmaker will replace three aging coilers […]
Were it not for the surprisingly strong steel demand, the price hikes prompted by the Trump administration tariffs would be a disaster, say manufacturers. As it is, the effects of the Section 232 tariffs are proving troublesome for many companies. President Trump is due to announce May 1 whether his 25 percent tariff on steel […]
Steel quotas may be in the cards for Brazil as it attempts to negotiate its way into a permanent exemption from the 25 percent steel tariffs scheduled to go into effect on May 1. U.S. Commerce Secretary Wilbur Ross reportedly told Brazil’s Minister of Affairs that the quickest way to win exemptions would be to […]
Big River Steel has signed an option agreement with the Board of Commissioners of the Port of Brownsville to bring a $1.6 billion steel mill and distribution facility to south Texas. The agreement gives Big River Steel the option to lease 800 acres between the Brownsville Ship Channel and State Highway 48. The facility will […]
NLMK Group reported a 1 percent increase in first-quarter revenue, to $2.79 billion, as a 5.0 percent seasonal drop in sales was offset by stronger pricing. Net income grew by 17 percent from Q4 to $502 million, driven by higher operating profit. NLMK USA sales increased 1.0 percent from the fourth quarter on higher demand for […]
It will be a busy week in Washington. Tariffs and their consequences will play a large role in this week’s events, reports trade attorney Lewis Leibowitz: • French President Emmanuel Macron is in Washington to discuss a number of issues, including the Iran nuclear deal and the Middle East. Steel and aluminum tariffs will not be at […]
President Trump’s tariffs on steel imports, designed to protect steel industry jobs, are likely to lead to a net loss in U.S. employment, at least in the short to medium run, contend economists with the Federal Reserve Bank of New York. The tariffs, and their effects on steel prices, are likely to cost more jobs […]
A new study by Martin Associates questioning the relationship between steel tariffs and mill capacity utilization was largely dismissed by the Commerce Department as industry propaganda, prompting a stern response from the American Institute for International Steel. AIIS released the analysis by Dr. John Martin on April 18 and stands behind his findings. The Secretary […]
Metals Service Center Institute data shows that service center shipments in March were slightly less than the seasonal norm. Daily shipments in March were down by 0.8 percent from the February result. On average since 2009, March shipments have increased by 0.3 percent; therefore, these latest numbers were seasonally slightly worse than the historical average […]
Uttam Galva and its North American subsidy won an initial ruling by the U.S. Court of International Trade in an appeal of antidumping duties placed on its imports of corrosion resistant steel to the United States. In June 2015, an antidumping investigation on imports of corrosion resistant steel products from multiple countries, including India, was […]
U.S. manufacturing groups claiming to represent more than 30,000 users of steel and aluminum announced a new coalition Wednesday to oppose the Trump administration’s Section 232 tariffs. The Coalition of American Metal Manufacturers and Users includes the Industrial Fasteners Institute, the National Tooling & Machining Association, the North American Association of Food Equipment Manufacturers, the […]
Pipe producer Borusan Mannesmann Pipe U.S. is among a reported 3,500 companies that have requested product exclusions from President Trump’s Section 232 steel tariffs. Borusan has filed for exclusions on 19 items, which covers the various diameters of its oil country tubular goods line. Borusan Mannesmann, a subsidiary of the Borusan Group in Turkey, operates […]
The European Union has thrown down the gauntlet to the U.S. regarding trade negotiations. EU Trade Commissioner Cecilia Malmström said there will be no future trade talks with the U.S. until the EU receives a permanent exclusion from tariffs on steel and aluminum. No concessions will be made to the U.S. to receive the exclusion, […]
Steel Dynamics reported a very strong first quarter with record shipments in the flat rolled division and a 94 percent utilization rate, well above the domestic industry average of 76 percent. Demand and product pricing improved across SDI’s entire steel platform. Net sales totaled $2.6 billion for the quarter and net income was $228 million. […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on recent events in Washington: • By my count, the Bureau of Industry and Security at Commerce has posted 82 exclusion requests for steel and aluminum combined. The Washington Post reported that 1,200 requests had been submitted to BIS. The NPR program Marketplace yesterday […]
Nucor Corp.’s first quarter 2018 consolidated net sales increased 9 percent from the previous quarter to $5.57 billion. Total tons shipped jumped 6 percent to 6.967 million tons. Consolidated net earnings were $354.2 million. Earnings in the steel segment improved in the first quarter due to higher steel prices and an 8 percent increase in […]
Chicago-based Union Partners announces the appointment of Chris Sekella as Executive Vice President for U.S. Operations. Sekella will be responsible for the overall leadership of operations for Union Partners’ family of companies. Specifically, he will be spearheading the strategy and day-to-day operations of Union Partners’ premier service centers that specialize in metal distribution and processing […]
Service center shipments of carbon plate increased in March, while shipments of flat roll and tubular products declined, compared with the same month last year, according to the Metals Service Center Institute’s March Metals Activity Report. Overall, service center shipments saw an improvement in March from the prior month. U.S. service centers shipped 3.596 million […]
The high price of galvanized steel has not dampened demand, at least not yet, say distributors of HVAC products, who report continued strong market conditions. “The market is somewhat back to normal, just at dramatically higher transaction prices,” commented one member of the Heating, Air-conditioning, and Refrigeration Distributors International (HARDI), during the trade group’s monthly […]
The Association of Steel Distributors appears to be positioned for a turnaround that will give new life to the 75-year-old service center organization. ASD has found renewed purpose and direction under the auspices of the Fabricators and Manufacturers Association, International, Elgin, Ill. ASD’s steel distributor members—mostly small to midsized family firms—have been gathering to swap […]
The two-year Section 337 investigation brought by U.S. Steel against Chinese steel manufacturers has been officially terminated by the U.S. International Trade Commission. All three components of the investigation—antitrust violation, transshipment, and trade secret theft—are now dissolved without action against the Chinese steel producers and distributors. According to an April 9 notice, U.S. Steel did […]