ArcelorMittal said it expects to produce less steel than previously forecast in Brazil. Gerdau has hinted at potential layoffs as imports surge. The Brazil Steel Institute is asking the government to raise import levies to 25% from the existing 9.6%. Meanwhile, Mexico has applied levies to some steel imports.
SMU's Current and Future Steel Buyers Sentiment Indices both increased this week despite the United Auto Workers (UAW) union strike expansion, based on our most recent survey data.
Last week, former Treasury Secretary Larry Summers gave a major speech challenging the views of anti-trade leaders, such as (but not limited to) Bob Lighthizer.
A big "thank you" to Wolfe Research and Timna Tanners for organizing a lunch in today in Chicago with a group of steel industry participants and investors.
Mexican steelmaker Grupo Deacero will invest $1 billion over the next three years as it plans to expand its steel production by 1.2 million tons per year, according to a local report.
Deputy United States Trade Representative (USTR) Jayme White met on Wednesday with Mexico’s Under Secretary of Economy for Foreign Trade Alejandro Encinas, and discussed issues regarding the “surge” into the US of Mexican steel and aluminum imports.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, sheet prices abroad, inventory, the UAW strike, and what people are talking about in the market
North American auto assemblies saw its best total year to date in August, and its best mark in nearly five years, driven by a 32.8% jump in total assemblies vs. July’s output.
US light-vehicle (LV) sales rose to an unadjusted 1.33 million units in August, up 12.8% vs. year-ago levels, while domestic LV sales fell 4.5% month-on-month.
SMU Managing Editor Michael Cowden shares his Final Thoughts for the week on what happens to steel if the United Auto Workers (UAW) launch a series of “stand up” strikes at midnight tonight against Ford, General Motors, and Stellantis?
Sheet prices have fallen to their lowest point of the year - just below $700 per ton ($35 per cwt) when it comes to hot-rolled coil (HRC).
US steel exports declined in July for a third consecutive month but remained elevated compared to recent years.
We’re just a week away from a potential United Auto Workers (UAW) strike against one, or potentially all three, union-represented automakers. The latest turn of the screw: UAW President Shawn Fain said an offer from Detroit-based General Motors was “insulting.”
As the Oct. 31 deadline approaches to reach an agreement on steel matters, the US and EU are headed for an impasse.
President and CEO of Ternium Mexico Cesar Jimenez discussed positive demand trends and challenges in the Mexico market with SMU managing editor Michael Cowden during a fireside chat on Tuesday, Aug. 22 at the SMU Steel Summit in Atlanta.
In a Steel Summit fireside chat, Karla Lewis, president and CEO of service center group Reliance Steel & Aluminum, sat down with SMU managing editor Michael Cowden to talk about current demand trends and where she’s leading her company.
The Mexican government has placed temporary levies of 25% on inward-bound shipments of steel products from countries with which it does not have a free trade agreement.
At every Steel Summit, a few themes seem to emerge that I didn’t anticipate. In 2021, I remember the theme being that scrap would be the next precious metal. (And also that Cleveland-Cliffs planned to expand in to the scrap market.) This year, I expected that there would be a lot of discussion about decarbonization. What I didn’t entirely expect was that we’d be talking so much about electricity and power generation.
Reshoring or nearshoring in manufacturing is real and happening now. And that trend is driving steel consumption, executives from steelmaker Ternium and service center group Reliance Steel & Aluminum said at SMU’s Steel Summit this week in Atlanta.
Barry Zekelman, executive chairman and CEO of Zekelman Industries, joined SMU managing editor Michael Cowden in a fireside chat to close out the 2013 Steel Summit’s opening day.
US steel exports remained elevated during the month of June, staying above the 900,000-ton mark for a second consecutive month.
Mexico has decided to implement import tariffs on a number of products, among them, steel.
Resonac announced this week it plans to acquire 100% of the outstanding shares in Monterrey, Mexico-based AMI Automation.
Republic Steel said it will indefinitely idle operations at its Canton, Ohio, and Lackawanna, N.Y., mills due to challenging business conditions.
Longs producer and metal recycler Gerdau reported lower second-quarter production and shipments due to several mill outages.
First, I want to say a big “thank you” to everyone who is attending Steel Summit this year. Earlier this week, we officially broke the attendance record we set last year. Numbers continue to rise. More than 1,300 will be there when the event kicks off on Monday, Aug. 21, at the Georgia International Convention Center in Atlanta.
A former leader of Ford Motor Co. recently spoke out on the potential for a United Auto Workers (UAW) strike at the Big Three Detroit automakers.
GrafTech International Ltd. gained sequential improvement in the second quarter.
US steel imports look to have fallen significantly during the month of July, based off license data from the US Department of Commerce collected through July 31.
Klöckner & Co. reported a positive cash flow in its latest earnings release. Despite a tough economic climate, it is leaning on its strengths to weather a moderately unfavorable outlook.