Major leading economic indicators are all telling the same story—that U.S. economic growth is slowing, with little effect likely from the Trump administration tax cut, reported economist Alan Beaulieu of ITR Economics in his remarks Aug. 29 at the Steel Market Update steel summit in Atlanta. While an average GDP growth of 2.6 percent in […]
Each month, Steel Market Update produces an import analysis by region for two of the six flat rolled product groups (HRC, CRC, HGD, OMC, CTL plate and coiled plate). This month, we are focusing on plate products. The intent of these regional updates is to bridge the gap between our monthly licensed data summaries and […]
Each month, Steel Market Update produces an import analysis by region for two of the six flat rolled product groups (HRC, CRC, HGD, OMC, CTL plate and coiled plate). This month, we are focusing on plate products. The intent of these regional updates is to bridge the gap between our monthly licensed data summaries and […]
Both the plate mills and their customers are advising Steel Market Update that, unlike the hot rolled markets, the plate markets are hot and are expected to continue to be hot for some time to come. The plate mills continue to be on “controlled order entry” (allocation) and all of the mills are struggling to […]
Ferrous scrap prices in most regions have settled down by $20 to $30 per ton in September and could fall further in October as mills schedule maintenance outages, report some Steel Market Update sources. Others believe stronger export demand could help sustain prices next month. Prime grades declined by $20, while obsoletes dipped a bit […]
Steel Market Update steel training workshops continue to be very popular. We are finding many companies sending their new people to our flagship Steel 101 workshop. This workshop is excellent for those new to the industry; however, it is not just for new employees. It is an excellent way to expand the knowledge base of […]
SMU President & CEO John Packard will be the featured speaker at the AWMI Industry Dinner at the Carnegie Hall at Newport in Newport, Ky., on Oct. 18. The event is open to the public. The mission of the Association of Women in the Metal Industries (AWMI) is to educate, network and mentor those in […]
Construction employment is at a 10-year high and industry unemployment is at an all-time low, according to a new analysis of government data by the Associated General Contractors of America. The industry added 23,000 jobs in August and 297,000 jobs over the past year. Construction employment in August totaled 7,259,000, the highest level since May […]
Construction spending increased 0.1 percent from June to July and 5.2 percent for seven months of 2018 combined, with year-to-date growth for most major public and private categories, according to an analysis of new government data by the Associated General Contractors of America. Association officials said sustained growth will depend in part on contractors’ ability […]
What is in the nation’s best interest when it comes to international trade? Are the Trump administration trade policies the best approach? Speaking at the Steel Market Update Steel Summit Conference in Atlanta on Aug. 27, a spokesperson for the domestic steel industry and a Washington trade attorney offered sharply contrasting views. The Steel Manufacturers […]
Cleveland Cliffs has filed a lawsuit over mineral rights in Nashwauk, Minnesota. The iron ore company has filed suit against the Minnesota Department of Natural Resources, MDNR Commissioner Tom Landwehr and Mesabi Metallics, to prohibit Mesabi Metallics from mining iron ore on properties owned or controlled by Cleveland Cliffs. Cliffs purchased surface and mineral rights […]
The United Steelworkers’ negotiating committee for U.S. Steel employees will be returning home to present informational meetings to members and seek a strike authorization vote. U.S. Steel’s demand for a six-year contract with deep concessions and minimal wage increases has been rejected by the USW bargaining committee. The offered bonus and wage increase in the […]
Our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop will be held in Toledo, Ohio on December 11 & 12, 2018. We will be touring the North Star BlueScope steel mill. The NSB mill produces steel from scrap, pig iron and other iron units in their EAF (electric arc furnace). SMU would […]
Steel Market Update’s next Steel 101: Introduction to Steel Making & Market Fundamentals workshop will be held in Starkville, Miss., on Jan. 29-30, 2019. We will be touring the Steel Dynamics Columbus steel mill. The SDI mill produces steel from scrap, pig iron and other iron units in their EAF (electric arc furnace). SMU would […]
Lewis Leibowitz, trade attorney and contributor to Steel Market Update, offers the following commentary on the latest developments in Washington: I am just back from Atlanta, where I attended the SMU Steel Summit. I was pleased to be able to speak to many steel industry folks concerned about the steel tariffs, the China tariffs and […]
Lewis Leibowitz, trade attorney and contributor to Steel Market Update, offers the following commentary on the latest developments in Washington: A reader asked recently about the ability of the president to withdraw the United States from the NAFTA agreement, should negotiations for a new agreement with Canada and Mexico falter. While the U.S. and Mexico […]
Lewis Leibowitz, trade attorney and contributor to Steel Market Update, offers the following commentary on the latest developments in Washington: After months of complaints, hearings, letters, denials, approvals and delay, the Commerce Department’s Bureau of Industry and Security published new rules on processes, criteria and time limits for specific product exclusions under the President’s Proclamations […]
Results from live polling during Steel Market Update’s Steel Summit Conference this week in Atlanta produced a few surprising results. Using the SMU App, Steel Market Update was able to capture the views of more than 450, or about half, of the steel industry executives in attendance at the event. For the most part, the […]
Ferrous scrap prices are likely to decline further in September after a modest drop in August, agree Steel Market Update sources. CRU Steel Analyst Ryan McKinley expects a drop of about $20 per ton across the board in September, driven primarily by an overhang of shredded scrap in the market and weak export demand. “There […]
The 8th SMU Steel Summit Conference will begin on Monday, Aug. 27. Attendees will be able to gather their credentials at the south entrance of the Georgia International Convention Center (GICC) beginning at 10:00 a.m. ET. Monday’s program begins at 1 p.m. ET sharp. Question: How to get to the Georgia International Convention Center and […]
SMU was at the Atlanta Airport Marriott Gateway hotel so we could get a lay of the land and see how disruptive their renovations are going to be to guests attending the 8th SMU Steel Summit Conference next week. The only negative noticed during our overnight stay was some minor construction noise, which was not […]
Forty-five states and the District of Columbia added construction jobs between July 2017 and July 2018, while 29 states and D.C. added construction jobs between June and July, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials cautioned that continued job gains may depend on swiftly implementing […]
Zekelman Industries, Inc., a manufacturer of steel pipe and tube, has filed for an initial public offering with the U.S. Securities and Exchange Commission. The company listed an offering of $100 million and hopes to complete its IPO this year, according to Bloomberg. Zekelman posted net income of $161 million on net sales of $2.1 […]
Steel Market Update expects to welcome nearly 900 executives to our Steel Summit Conference in Atlanta Aug. 27-29. There is still time to sign up if you would like to be one of them. To register, visit: www.SteelMarketUpdate.com/Events/Steel-Summit or by contacting our office at 772-932-7538. See the full conference program below: Making Sense Out of […]
The SMU Steel Summit Conference Events App for the 2018 event is now available for all registered attendees, sponsors and exhibitors to download and use. The app is where you find all the most up-to-date information about the conference, how to find and network with other attendees, participate in interactive segments of the conference, and […]
In a surprising tweet earlier today, President Trump announced his intentions to double the Section 232 tariffs on steel and aluminum from Turkey, raising the tax on imports to 50 percent for steel and 20 percent for aluminum. No word on when the change would take effect. “I have just authorized a doubling of Tariffs […]
Construction costs have squeezed contractor profits as prices for construction material and services have climbed steeply during the past year. The producer price index for the construction industry was relatively steady in July, but jumped 8.1 percent from July 2017, said the Associated General Contractors of America in an analysis of new Labor Department data. […]
The next workshop we have scheduled after the SMU Steel Summit Conference is our new Steel 201: Introduction to Advanced High Strength & Other New Steels. This will be a unique workshop in many ways. We will have two tours, one of the Research and Innovation Center (RIC) at AK Steel (which is also where […]
ArcelorMittal Indiana Harbor suffered an incident on Saturday, Aug. 4, that has shut down its No. 3 blast furnace (IH3) for an estimated two weeks. A company spokesperson reports that process alarms indicated a filling problem on the blast furnace around 5:45 p.m. on Saturday, August 4th. The furnace was safely shutdown at 6:10 p.m. […]
Steel Market Update, with the help of AK Steel, has developed a new steel training workshop that we are calling Steel 201: Introduction to Advanced High Strength and Other New Steels. The Steel 201 Workshop will cover the following: Day One (Tuesday, Sept. 11, 2018) Welcome to AK Steel and introductions (Kirk Reich, President & […]