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.
Global steel output inched higher from September to October, even as production declined in China, the World Steel Association (worldsteel) said in its latest monthly report.
US housing starts crept higher for a second consecutive month in October. Starts were lower, however than the same month last year, according to the most recent data from the US Census Bureau.
The decline in imports from August to September was more pronounced than license applications suggested earlier this month.
The first rule of Steel 101 is that you’re free to talk about Steel 101. We actually encourage it. Last week on Tuesday and Wednesday, SMU’s Steel 101 was held in Mt. Pleasant, S.C.
SMU’s Current and Future Steel Buyers Sentiment Indices both increased this week, based on our most recent survey data. Every other week we poll steel buyers about sentiment. The Steel Buyers Sentiment Indices measure how steel buyers feel about their company’s chances of success in the current market, as well as three to six months down the road. We have historical data going back to 2008. Check our interactive graphing tool here.
South Korea and Brazil will not be maxing out their allowable quotas on hot-rolled sheet shipments to the US for 2023, according to government data analyzed by SMU.
The Architecture Billings Index (ABI) reading from the American Institute of Architects (AIA) and Deltek showed a decline in September.
Global steel demand will reach 1.81 million metric tons in 2023, a 1.8% year-on-year boost, the World Steel Association (worldsteel) said in its updated Short Range Outlook report.
A slowdown in US steel imports has yet to be seen, as total import licenses in September were about even with August’s import levels.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, the UAW strike, and what people were talking about in the market.
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.
The United Auto Workers (UAW) union has more leverage than the Detroit Three automakers in the current strike that started Sept. 15, according to Jason Schenker, president of Prestige Economics.
The United Auto Workers (UAW) significantly escalated its strike against General Motors and Stellantis on Friday.
Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Oct. 4, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here. We’ll talk about the outlook […]
United Auto Workers (UAW) union members in Alabama at a parts supplier to Mercedes-Benz have gone on strike.
Ford's Canadian subsidiary and auto workers represented by Unifor - roughly the Canadian equivalent of the UAW - have reached a new, tentative labor agreement.
United Auto Workers (UAW) union president Shawn Fain has announced a new deadline of Friday, Sept. 22, at noon, at which point the union could expand its strike.
The United Auto Workers (UAW) launched its “stand up” strike just after midnight on Friday, according to posts on the union’s Facebook page. “We are the union! The mighty, mighty union,” UAW members with “On Strike” signs chanted in a video posted to the site. The move came after union president Shawn Fain suggested that […]
The United Auto Workers (UAW) union will strike specific plants across all “Big Three” automakers if new labor contracts are not reached by midnight on Thursday.
US imports look to have fallen to their lowest monthly level so far this year, based on August import license data compiled by the US Department of Commerce.
Global steel production increased 6.6% year over year (YoY) in July to 158.5 million metric tons, according to the latest report from the World Steel Association (worldsteel).
Mill lead times for most sheet products this week were basically flat compared to SMU's market check two weeks ago. Those for plate shortened once again.
China recently became the world’s largest exporter of cars. Experience from the steel industry suggests this is not a trend that will reverse, though it might reduce. Changes in auto supply chains and metals demand outside China are likely. China Is Now the World’s Largest Car Exporter China recently became the world’s largest exporter of […]
General Motors (GM) has raised its full-year earnings guidance, but this depends on the outcome of its labor negotiations with the United Auto Workers (UAW) union in the US and Unifor in Canada. “This is the second time we’ve raised guidance this year and it assumes that we successfully negotiate new labor agreements without a work stoppage,” […]
Steel Dynamics Inc. (SDI) posted lower year-over-year second quarter profits but said demand “remains solid” across the automotive, construction, industrial, and energy sectors. The Fort Wayne, Ind.-based steelmaker also predicted that steel prices might find support thanks to what it described as low customer inventories. “We remain confident that market conditions are in place for […]
US housing starts pulled back in June after a hitting an 11-month high in May. Total privately owned housing starts were at a seasonally adjusted annual rate (SAAR) of 1,434,000 units in June, according to the latest estimates from the US Census Bureau. Starts in May were revised slightly downward, from the previous estimate of […]
US heating and cooling equipment shipments recovered in May, according to the most recent data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI). The total amount of units shipped for the month of May was 1.98 million, compared to 1.74 million units in April. Shipments were up 13% month-over-month (MoM), but down 6% year-over-year (YoY). […]
The United Auto Workers (UAW) union will begin contract negotiations with the Detroit 3 automakers later this week, according to media reports. Talks are set to start on Thursday with Stellantis, on Friday with Ford, and on July 18 with General Motors, according to an article published by Reuters on Monday. “We have a long history of negotiating […]
US light-vehicle sales posted solid growth in June, according to the latest figures from the Bureau of Labor Statistics, and sales are expected to continue pushing upward. Light-vehicle sales reached a seasonally adjusted annual rate (SAAR) of 15.7 million units in June. Showing 4% month-over-month growth, this beat previous forecasts. June’s sales pushed total second-quarter sales […]