Ask almost any mill, service center or OEM executive to name their biggest headaches and trucking will be near the top of each list. Early this year, new regulations took effect requiring trucks to be equipped with electronic logging devices to limit drivers’ hours behind the wheel, creating an immediate shortage of trucking capacity. Trucks […]
This morning, World Trade Online reported Brazil as “pushing back on Section 232 quota deal with the U.S.” I did some research on my own to see if traders associated with Brazil, Argentina or other markets that may have verbal agreements with the Trump administration regarding quotas were having issues due to negotiations with the […]
Marking a win for U.S. steelmakers, the Commerce Department on Monday officially slapped duties on corrosion-resistant steel (CORE) and certain cold rolled steel products imported from Vietnam that were produced from substrate originating in China. Commerce determined that even though the products underwent some processing in Vietnam, they should still be subject to the same […]
Flat rolled prices increased slightly on most products this past week, according to the steel price indexes followed by Steel Market Update. Plate prices were seen as being slightly lower than what was published one week ago. Benchmark hot rolled has been relatively stable over the past few weeks. SteelBenchmarker, which only publishes prices twice […]
Union Partners, the Chicago-based metals and logistics company, has hired Jay Ervin as vice president of business development. In this new role, Ervin will be responsible for managing the company’s sales, customer and prospect strategies, as well as strategic partnerships. Ervin formerly held numerous sales and management roles in 14 years with Leeco Steel. “As […]
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 […]
Despite all the uncertainty on the trade front, demand has stayed strong, and buyers and sellers of flat rolled steel remain optimistic about their chances for success in current and near-term market conditions. The SMU Steel Buyers Sentiment Index, which measures how buyers and sellers of flat rolled and plate steels feel about their companies’ […]
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 Market Update published some inaccurate information about our room blocks for the upcoming Aug. 27-29 SMU Steel Summit Conference. We stated that the entire room block was sold out. In fact, only the lead hotel – Atlanta Marriott Gateway Hotel – has sold all of the rooms in our block. The other two Gateway […]
Demand remains strong and prices for galvanized steel have begun to level off after rising for most of the year, which is positive news for the HVAC industry. However, a big decline in foreign imports could dramatically reduce the availability of coated steel later in the year. “In the fourth quarter, there could be quite […]
Steel prices are way up and likely to move even higher given events on the trade front. But, so far, they have not hurt demand in the HVAC sector, reported members of the Heating, Air-conditioning and Refrigeration Distributors International (HARDI) on Tuesday during the trade association’s monthly steel conference call. John Packard, publisher of Steel […]
Demand remains strong in the HVAC sector despite the high steel prices, but distributors share an uncomfortable feeling that the favorable conditions may not last. “Business is good, and prices are high, but they are going to fall. When is anyone’s guess. You just have to try to protect yourself and have the least amount […]
Distributors of products for the HVAC sector expect prices for steel, especially galvanized, to drop in the coming weeks or months. Demand remains strong, they report, but they are keeping inventories lean in anticipation of declining prices. “There is a greater likelihood that prices will go down than go up. With the lead times being […]
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 […]
Last year, it took Steel Market Update until the middle of July before we reached the number of registrations that we have already booked for the 2018 SMU Steel Summit Conference. We are approaching 500 registered executives and we are well on our way to smashing last year’s record attendance and meeting our self-imposed goal […]
On Monday, Steel Dynamics announced the acquisition of the CSN Heartland flat rolled steel mill in Terre Haute, Ind. The purchase was reported to be for $400 million in cash. The CSN plant has the ability to roll 1 million net tons of cold rolled and to coat approximately 360,000 net tons of galvanized. Steel […]
Registrations for the 2018 SMU Steel Summit Conference continue to come in at a steady pace. It took us until July 10 last year to reach the number of registrations that we already have as of the beginning of this week. There are 211 companies registered and we still expect 300+ companies and 800 steel […]
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 […]
Manufacturers and fabricators report that business is good, but it’s certainly not easy. Steel Market Update has recruited a dynamic group of executives who will explore topics ranging from trade and tariffs to automation and logistics on Wednesday, Aug. 29, at SMU’s Steel Summit Conference in Atlanta. The title of their panel is Manufacturing Forecast: […]
For Steel Market Update’s upcoming steel summit Aug. 27-29 in Atlanta, we have recruited an exceptional group of speakers who are prepared to talk on a wide variety of topics of importance to those in the flat rolled and plate steel markets as manufacturers, distributors, steel mills, toll processors or suppliers to those industries. Putting […]
The Association for Iron & Steel Technology announced the appointment of a new president and slate of officers for 2018-2019. James Dudek, vice president, Asset Revitalization and Manufacturing Excellence, U.S. Steel Corp., Pittsburgh, Pa., will assume the presidency of AIST. Dudek succeeds Randy Skagen, vice president and general manager, Nucor Steel Tuscaloosa. Dudek said he […]
Ferrous scrap prices have declined a bit in May, reported Steel Market Update sources, due to weakness in the export market and warmer spring weather that aided scrap collection and boosted supplies. Looking ahead to June, sources expect further change, but they disagree on the degree and direction. In the Ohio Valley, prices declined, but […]
Construction employment gained 17,000 jobs in April, according to a new analysis of government data by the Associated General Contractors of America. In the last 12 months, the industry added 257,000 jobs, an increase of 3.7 percent. Higher pay is attracting former construction workers back into the market, said AGC. The association cautioned, however, that […]
The American Iron and Steel Institute (AISI) announced on Tuesday that Lakshmi N. Mittal, chairman and CEO of ArcelorMittal, is the 2018 recipient of AISI’s highest award, The Gary Medal. The award was presented at a lunch ceremony at AISI’s General Meeting in Washington earlier this week. In presenting the award, AISI president and CEO, […]
The American Iron and Steel Institute’s (AISI) Board of Directors have elected Roger Newport, chief executive officer and member of the board of directors, AK Steel Corporation, to serve as chairman of the Institute, through May 2020. “Roger Newport is one of the global steel industry’s most respected and influential leaders, and is a tireless […]
Construction employment increased in 245 out of 358 metro areas between March 2017 and March 2018, declined in 67, and stagnated in 46, according to a new analysis of federal employment data by the Associated General Contractors of America. Association officials said that the new figures come amid questions about how a possible trade war […]
Peter Navarro and Wilbur Ross have gone to China to discuss trade and tariff issues. On their last day in Washington, they made some remarks about the steel and aluminum tariff measures announced Monday night. The picture is becoming clearer, but there are also more questions. Today, I am focusing on the Ross and Navarro […]
Much has been written in the trade and consumer press regarding the status of the country exclusions to President Trump’s steel tariffs and the decision announced last night by the White House. The following is how trade attorney Lewis Leibowitz sees the state of the steel industry: On May 1, here is where we stand: […]
Construction spending dropped from the previous month to a seasonally adjusted annual rate of $1.285 trillion in March, but was still up compared to a year ago, according to an analysis of new Census data by the Associated General Contractors of America. AGC officials blamed the decline on drops in private sector construction as new […]
The American Institute for International Steel and the Coalition of American Metal Manufacturers and Users expressed their disappointment in the Section 232 announcement last night. AIIS President Richard Chriss and CAMMU issued the following statement: We are disappointed that the president did not act last night to end the uncertainty in the metals market by […]