Canacero hits back at claim of 'surge' of Mexican steel imports
Mexican steel association Canacero has responded to a Dec. 13 letter from US senators, and disputes the claim of a “surge” of Mexican steel imports.
Category: Market Segment
Japan's Nippon Steel to acquire U.S. Steel for more than $14B
Nippon Steel will acquire U.S. Steel in a deal valued at $14.9 billion, or $55 per share, the two companies announced on Monday morning. The Japanese steelmaker will keep U.S. Steel's iconic logo and its Pittsburgh headquarters, the companies said.
Leibowitz: The continuing debate over the utility of tariffs
Over many years—even centuries—the wisdom and utility of tariffs as an instrument of government policy in peacetime have been debated. That incessant debate continues, and is likely to persist.
SDI sees lower Q4 earnings, but steel order activity 'solid'
Steel Dynamics Inc. (SDI) expects lower fourth-quarter earnings sequentially and on-year, though the company said “steel order activity remains solid.”
Commerce updates import duties on plate from Korea, Italy
Import duties on cut-to-length plate from South Korea and Italy were recently updated by the International Trade Administration (ITA), which is a part of the US Department of Commerce.
U.S. Steel follows Nucor, guides to lower Q4 profits
U.S. Steel on Thursday afternoon said it expected lower earnings in the fourth quarter compared to the third. The Pittsburgh-based steelmaker predicted fourth-quarter adjusted earnings before interest, income taxes, depreciation, and amortization (Ebitda) of approximately $250 million, or $0.20-$0.25 per diluted share.
US senators call for deadline on Mexican steel export monitoring agreement
A bipartisan group of US senators has written a letter requesting a clear deadline for an export monitoring agreement of Mexican steel products into the US market.
USS Mon Valley Works CRC ops back to normal
U.S. Steel has resumed normal production of cold-rolled coil (CRC) at its Irvin Plant, part of the steelmaker’s Mon Valley Works in western Pennsylvania.
Lower prices, volumes to stifle Nucor’s Q4 earnings
Lower prices and volumes will impact Nucor Corp.’s earnings in the current quarter, the steelmaker said in fourth-quarter earnings guidance on Thursday, Dec. 14.
Duties adjusted on coated imports from South Korea, Taiwan
The US Department of Commerce’s International Trade Administration (ITA) has updated the antidumping duties on coated sheet imports from South Korea and Taiwan.
U.S. Steel bids top $40/share as board meets on Wednesday: CNBC
U.S. Steel has received multiple bids valuing the company at more than $40 per share, CNBC reported on Wednesday.
UAW's Fain gives plan for unionizing non-union auto workers
United Auto Workers President Shawn Fain outlined the union’s strategy to unionize nonunion auto workers in the US.
Pipe import duties sunset for Brazil, kept for six other countries
The International Trade Commission (ITC) made its final injury determination in a sunset review of import duties on circular welded pipe from a handful of countries.
USS Granite City HSM, downstream ops continue despite idling of steelmaking
U.S. Steel will continue to operate the hot strip mill and finishing lines at its Granite City Works in southern Illinois.
November import licenses fall to recent low
A count of November license applications suggests steel imports were at their lowest monthly level in 33 months.
Heating and cooling equipment shipments fall with season change in October
October saw domestic heating and cooling equipment shipments drop for a second consecutive month, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).
Steel associations respond to Steel Standards Principles introduced at WTO
SMU asked the two major US steel associations for their thoughts on the Steel Standards Principles. Here’s what they had to say.
SMU survey: Direction of mill lead times mixed on holiday season lull
Movements in lead times were mixed in SMU’s check of the market this week – a reflection of the seasonal dip in ordering that is typically seen during the winter holiday season.
Carbon border tax proposed in revival of Clean Competition Act
On Dec. 6, US Senator Sheldon Whitehouse (D-RI) reintroduced the Clean Competition Act, an environmental trade directive that would impose charges on imports from more carbon-intensive manufacturers.
VW workers in Tennessee start campaign to join UAW
Volkswagen USA Workers in Chattanooga, Tenn., have launched a campaign to join the United Auto Workers (UAW) union.
TimkenSteel implements Worlds’ AI platform into steelmaking ops
TimkenSteel has begun utilizing AI software from Worlds to gain insight into its steel manufacturing processes.
AM/NS Calvert, Outokumpu extend tolling arrangement
AM/NS Calvert will continue providing hot rolling tolling services for Outokumpu for the time being.
AISI: Two regions see boost in raw steel output
Raw steel production in the US rose in the week ended Dec. 2, according to the American Iron and Steel Institute’s (AISI’s) report on Monday, Dec. 4.
Coalition voices concern about potential duties on tin mill products
A coalition of manufacturers, retailers, and stakeholders stands opposed to the imposition of import duties on tin mill products.
Russel Metals to buy seven of Samuel’s operations
Canadian metals distributor Russel Metals Inc. plans to acquire Samuel, Son & Co.’s carbon plate service center operations in Western Canada and the US for roughly $225 million.
Bell: Buy clean programs need a single carbon emissions standard for steel
The Biden administration’s climate ambitions are laudable. Buy Clean programs have the potential to meaningfully reduce CO2 emissions, supporting the American steel industry and its workers. Buying clean steel In February 2022, the administration launched the federal Buy Clean initiative and established its Buy Clean Task Force. These programs prioritize the use of American-made, low […]
CRU aluminum: A call for import monitoring and sustainable practices
CRU analysts share an update on the aluminm markets.
Worthington Steel completes spinoff, now a standalone company
Worthington Industries has completed its split into two separate companies: Worthington Steel Inc. and Worthington Enterprises Inc.
Steel dominates repeat trade case filings: Report
Steel dominated the industries seeking repeated relief from unfair trade between 1995 and 2020, according to a new report compiled for the International Trade Commission (ITC).
CRU: Baffinland allowed to increase iron ore shipments
The Canadian government has given ArcelorMittal-linked Baffinland Iron Mines permission to dispatch up to 6 million metric tons per year from its Mary River mine in Nunavut territory, higher than the 4.2 million metric tons per year previously permitted. The approval from northern affairs minister Dan Vandal allows Baffinland to make the extra shipments if […]