Steel News

Section 232 Testimony Heavily Weighted Toward Domestic Industry

Thursday, May 25, 2017 10:13 PM

Section 232 Testimony Heavily Weighted Toward Domestic Industry

The Chinese, Russians, Turks, Vietnamese, Koreans and to a lesser extent the Taiwanese ears were burning Wednesday after the “bad-mouthing” they got at the Section 232 hearing on steel. Of the 37 scheduled speakers 9 domestic compan..........

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Bill Gaskin of PMA Fills Out SMU Steel Summit Trade Panel

Thursday, May 25, 2017 8:52 PM

Bill Gaskin of PMA Fills Out SMU Steel Summit Trade Panel

It has been the goal of Steel Market Update (SMU) to provide as wide a range of opinions and views of the industry as possible during our SMU Steel Summit Conference. Trade is once again on the tip of everyone’s tongue and we are broa..........

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Unintended Consequences of Trade Actions

Thursday, May 25, 2017 8:37 PM

Unintended Consequences of Trade Actions

As CEOs and association representatives presented their arguments for why the administration’s Section 232 action on steel imports should go forth, AIIS international Trade Counsel Gary Horlick talked about the unintended consequences..........

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Hot Rolled Futures Flattening

Thursday, May 25, 2017 6:54 PM

Hot Rolled Futures Flattening

The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week:

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Nucor to Build Galvanizing Line at its Kentucky Sheet Mill

Thursday, May 25, 2017 5:11 PM

Nucor to Build Galvanizing Line at its Kentucky Sheet Mill

CHARLOTTE, N.C., May 25, 2017 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today that it is investing an estimated $176 million to build a hot band galvanizing and pickling line at its sheet mill in Ghent, Kentucky. The new g..........

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Foreign vs. Domestic Hot Rolled Price Comparison in May 2017

Thursday, May 25, 2017 4:43 PM

Foreign vs. Domestic Hot Rolled Price Comparison in May 2017

The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel import prices (delivered to USA ports) and domestic (USA) hot ..........

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Galvalume is Covered Under CORE & Circumvention Trade Complaints

Thursday, May 25, 2017 3:44 PM

Galvalume is Covered Under CORE & Circumvention Trade Complaints

Steel Market Update (SMU) has been contacted by end users, distributors and steel mills regarding an article published by another trade publication on Galvalume. The article, which was published on Thursday, May 18, 2017, quoted Keith M..........

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Foreign Testimony at Section 232 Hearing

Thursday, May 25, 2017 2:21 PM

Foreign Testimony at Section 232 Hearing

The Section 232 Investigation of steel imports on national security hearing was held on Tuesday. The testimonies included four representatives of foreign governments: China, Russia, the European Union, and Ukraine. Not surprising, none ..........

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Existing Home Sales Dip in April

Wednesday, May 24, 2017 5:48 PM

Existing Home Sales Dip in April

Existing home sales dipped 2.3 percent in April to a seasonally adjusted annual rate of 5.57 million, according to the National Association of Realtors. Sales were 1.6 percent higher than in April 2016.

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Kansas City Manufacturers Expecting Future Growth

Wednesday, May 24, 2017 3:34 PM

Kansas City Manufacturers Expecting Future Growth

Manufacturing grew moderately in the Tenth District in May, according to the Federal Reserve Bank of Kansas City. In the bank’s latest survey the composite index rose to 8 from 7 in April. Indicators were mixed, with little change ove..........

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