Industry groups praise Senate for passing tax and budget bill
The Steel Manufacturers Association and the American Iron and Steel Institute applauded the tax provisions included in the Senate's tax and budget reconciliation bill.
Contributor: Kristen DiLandro
Kristen DiLandro
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Chicago PMI dips 0.1 points in June
The Chicago Purchasing Managers Index (PMI) slipped 0.1 points to 40.4 points, in June.
Hot-rolled coil buyers continue seeking certainty
Steel market participants contend that buyers will remain in “wait-and-see" mode until some market stability is restored.
Galvanized steel demand unsteady amid lingering buyer fatigue: HARDI
Uneven demand for galvanized steel in June reflects a market that remains mired in uncertainty, according to industry sources.
Latin American steel advocates warn on cheap import flood
Subsidized Chinese steel imports and cheap steel products from Association of Southeast Asian Nations (ASEAN) entering Latin American (LATAM) are threatening the region's steel market.
Hot-rolled price hikes garner mixed reactions from the market
Several steel market sources say they were blindsided when mills increased spot prices for hot-rolled coils this week.
SDI anticipates stronger sequential earnings
Steel Dynamics Inc. (SDI) expects stronger second-quarter sequential earnings when it releases its full earnings report on Monday, July 21st.
US and Canada talk trade, market contemplates fate of S232 steel protections
Trade talks are progressing between the US and the market is contemplating the future of Section 232 tariffs.
Steel market participants mull the impact of US/Mexico S232 negotiations
Steel market participants learned that negotiations between the US and Mexico include discussions about Section 232 tariffs on steel and aluminum despite President Trump’s June 3 proclamation increasing the tariffs from 25% to 50% for all steel and aluminum imports—except for those from the UK.
EPA deregulation proposals win praise from steel advocates
Two industry groups are applauding two EPA proposals that would support domestic steel production.
Former Nucor CEO David ‘Dave’ Aycock passes at age 94
Steel industry veteran David ‘Dave’ Aycock died on Saturday at the age of 94.
ArcelorMittal plans wire-drawing closure in Hamilton, shifts production to Montreal
ArcelorMittal’s (AM) Hamilton location to be shuttered, wire production shifting to Montreal.
Tariffs, ample domestic supply cause importers to shift or cancel HR import orders
Subdued demand is causing importers to cancel hot-rolled (HR) coil orders and renegotiate the terms of shipments currently enroute to the US, importers say. An executive for a large overseas mill said customers might find it difficult to justify making imports buys after US President Donald Trump doubled the 25% Section 232 tariff on imported steel […]
Latest S232 tariffs are disruptive, admit US manufacturers
US manufacturers brace for the implications spurred by the latest round of Section 232 tariffs.
Steel market shakes tariffs off amid weak demand
Service centers and distributors contend that weak demand is to blame for the flattening of domestic steel spot prices, as reflected in Nucor Steel’s weekly Consumer Spot Price (CSP) notice. On Monday, the Charlotte, North Carolina-headquartered steel producer left prices unchanged from the previous week. Nucor has maintained prices of plate produced in Brandenburg since March 28.
ISM: Manufacturing continues to contract in May
May marks the third consecutive month US manufacturing activity declined, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Commerce finds no Korean OCTG shipments below market value
US Department of Commerce (Commerce) review found no South Korean oil country tubular goods (OCTG) exporters or producers sold products below market value
Chicago PMI decreases 4.1 points in May
The Chicago Business Barometer reports that decreases in new orders, order backlogs, and softer production pulled the index down by 4.1-points to 40.5, in May.
Met coal receives critical materials status
The US Department of Energy (DOE) adds metallurgical coal to the nation’s list of Critical Materials, following its designation by US Secretary of Energy, Chris Wright’s announcement on May 22.
Metalforming manufacturers predict stagnant market: PMA Business Conditions Report
Most of the surveyed US and Canadian metalforming manufacturers expect general economic activity to remain steady over the next three months.