In another skirmish in the battle between steel and aluminum for a greater share of the automotive market, aluminum producer Novelis Inc. plans to invest $365 million to build a highly advanced recycling center adjacent to its new automotive finishing plant in Guthrie, Ky. Groundbreaking is scheduled for early 2022, with commissioning expected in 2024. Aluminum producers claim the high […]
By Trade Attorney Lewis Leibowitz The U.S. and the UK recently announced the start of talks to eliminate or at least reduce the impact of Section 232 tariffs on steel and aluminum. Since 2018, the UK, first as part of the European Union and since the start of 2021 the UK alone, has been subject […]
Wiley partner Alan Price will be the featured speaker on Steel Market Update’s next Community Chat webinar on Wednesday, Jan. 26, at 11 a.m. ET (10 a.m. CT). We’ll discuss the big issues facing steel when it comes to trade policy – with a particular focus on Section 232 developments: Will there be a deal […]
By Greg Wittbecker, Advisor, CRU Group One of the hot topics resonating through commodity market forecasts is the risk to demand from a faltering Chinese real estate market. The well-publicized financial difficulties of Evergrande have raised fears that the property markets could destabilize. Other developers such as Kaisa and Sinic Holdings have also struggled to […]
I want to spend some time talking about the Steel Market Update website and the value that can be found there. Over the years we have tweaked and added new content to the site as we strive to provide more information to the industry and our readers. The SMU Website There are a number of […]
I want to spend some time talking about the Steel Market Update website and the value that can be found there. Over the years we have tweaked and added new content to the site as we strive to provide more information to the industry and our readers. The SMU Website There are a number of […]
The United States and the United Kingdom have officially started talks that could ease Section 232 tariffs on steel and aluminum from Great Britain. The discussions would also seek to end UK measures imposed against certain U.S. exports in retaliation for the 25% security tariffs on steel and 10% tariffs on aluminum, U.S. and UK […]
Wiley partner Alan Price will be the featured speaker on Steel Market Update’s next Community Chat webinar on Wednesday, Jan. 26, at 11 a.m. ET (10 a.m. CT). We’ll discuss the big issues facing steel when it comes to trade policy – with a particular focus on Section 232 developments: Will there be a deal […]
Wiley partner Alan Price will be the featured speaker on Steel Market Update’s next Community Chat webinar on Wednesday, Jan. 26, at 11 a.m. ET (10 a.m. CT). We’ll discuss the big issues facing steel when it comes to trade policy – with a particular focus on Section 232 developments: Will there be a deal […]
Steel Market Update is pleased to share this Premium content with Executive members. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Producer prices expanded by 0.2% in December, seasonally adjusted, maintaining their upward climb since reaching the most recent bottom 21 months ago, reports the U.S. Labor Department. The unyielding trend continues to highlight […]
Producer prices grew by 1.0% in January, seasonally adjusted, maintaining a 22-month growth run since reaching the most recent bottom in April 2020, reports the U.S. Labor Department. Wholesale prices jumped by twice the expected level in January as inflation pressures were unabated to start the year. The Labor Department said that its Producer Price […]
After disappointing years in 2020 and 2021, the auto industry and its suppliers stand to enjoy a considerably better year in 2022, said Rod Lache, managing director and automotive analyst with Wolfe Research. “We think in the U.S. there are at least 10 million units of undersupply in the market, which represents pent-up demand and is […]
By Greg Wittbecker, Advisor, CRU Group Virtually every mention of the infrastructure spending plans and Build Back Better touts renewable energy. We thought it might be worthwhile to talk about some of the tangible effects of that on solar photovoltaic (SPV) energy generation. The Solar Energy Industries Association (SEIA) is the best source of data […]
Steel prices declined for the fourth consecutive month in December, following a year-long streak of continuous price increases. Hot-rolled coil prices declined $130 per ton throughout the month, with the SMU index averaging $1,600 per ton ($80.00 per cwt) as of Tuesday, Dec. 21 (SMU did not published updated prices on Dec. 28). The SMU Price Momentum […]
By Greg Wittbecker, Advisor, CRU Group Happy New Year. We hope you had a healthy and happy holiday season. The aluminum market is slowing coming back to life and witnessing serious supply constraints. European primary production is withering under high power prices. The impetus behind the rally in price is simple – incredibly high spot […]
U.S. President Joe Biden has officially implemented a tariff-rate quota (TRQ) that will ease Section 232 restrictions on steel from the European Union. “I have determined that specified volumes of eligible steel … imports from the EU will no longer threaten to impair the national security,” Biden wrote in a presidential proclamation. The president did […]
Steel Market Update is pleased to share this Premium content with Executive members. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Prices for three of the seven steelmaking raw materials tracked in this SMU analysis increased over the last 30 days, while three products decreased and one was unchanged. Through Dec. 21, iron ore prices […]
First the takeaway: Don’t overthink it on the way down. Prices are falling, like it or not. The good thing, demand is still good – so don’t let falling prices ruin your holidays. Now, let’s overthink it a little. We’ve seen some chunky declines in recent weeks: SMU’s hot-rolled coil price fell $70 per ton […]
By Greg Wittbecker, Advisor, CRU Group Legislation passed Dec. 16 by the Senate and now on its way to the White House will all but ban imports connected at any point in the supply chain to materials from China’s Xinjiang Uyghur Autonomous Region. However well justified by human rights, this ban will be a challenge for […]
Continuing its aggressive growth through acquisition, Reliance Steel & Aluminum Co. has purchased Rotax Metals, Inc., a metals service center specializing in copper, bronze and brass alloys. This is the third deal announced by Reliance just this month, extending its reach in various regions and product categories. Founded in 1947 and located in Brooklyn, New […]
By Trade Attorney Lewis Leibowitz This is the last trade and tariff update for 2021, definitely an eventful year. We have gone from a riot at the Capitol, to a surge in COVID, widespread vaccinations (but still not enough for “herd immunity,” whatever that is), more foreign policy crises in Taiwan, China, Ukraine, Afghanistan, historic […]
By Greg Wittbecker, Advisor, CRU Group It’s that time of year when we start looking ahead as we put the current year in our “rear view mirror.” Here are some of the things that I circulated to the CRU Aluminum Analysis team for consideration among our “top calls for 2022.” These are not officially “blessed,” […]
American Iron & Metal (AIM) has purchased Fern Piche & Sons Ltd., a metal recycler based in North Bay, Ontario, a company spokesperson confirmed to Steel Market Update. Although the details of the strategic acquisition were not disclosed, Montreal, Québec-based AIM completed the deal on Dec. 1, extending its regional reach and adding to its worldwide […]
Producer prices expanded 1.4% in November, seasonally unadjusted, climbing consecutively since reaching the most recent bottom 20 months ago, reports the U.S. Labor Department. Persistently high prices in large part continue to reflect clogged supply chains, as manufacturers scramble to keep up with unusually strong consumer demand. The Labor Department said that its Producer Price Index […]
Steel prices fell hard again this week. While the absolute numbers – down $60 per ton ($3 per cwt) on hot-rolled coil – might appear shocking at first glance, one could make the case that we’re being conservative. The development shouldn’t have come as a surprise to those who lived through past ups and downs. […]
Steel Technologies, Louisville, Ky., has agreed to purchase the assets of Calstrip Industries, Inc., expanding Steel Technologies’ North American steel processing platform to 31 facilities, including joint-venture operations, located throughout the United States, Canada and Mexico. The transaction is expected to close late this month. Calstrip – a flat-rolled processor with operations in California, New […]
Reliance Steel & Aluminum Co. announced two more acquisitions this month, bringing the total to 70 since the service center giant’s IPO in 1994. The latest additions to Reliance’s portfolio are Admiral Metals Servicecenter Co. Inc. and Nu-Tech Precision Metals Inc. Admiral Metals, Woburn, Mass., is a distributor of nonferrous metal products serving the semiconductor, […]
On Friday, the Labor Department announced the inflation rate for November. At 0.8%, it was a tick lower than the October inflation rate of 0.9%. But most observers paid more attention to the annual rate of inflation. At 6.8% compared to prices one year ago, the inflation rate was the highest it’s been since 1982. […]
By Greg Wittbecker, Advisor, CRU Group The massing of Russian troops on the border with Ukraine has raised tensions to a high level on the political scene. It forces us to take another look at the repercussions of new sanctions on the Russian state should Putin decide to invade. 2018 Repeated? In March 2018, sanctions […]
Alro Steel has acquired Ace Steel, a Roanoke, Va.-based service center and distributor of steel and plastic products. The deal will grow Alro’s customer base while providing improved service for cut-to-size metals and plastics, the company said. Established in 1992 as a full-service metal distributor, Ace Steel serves the Roanoke Valley in Virginia. The acquisition strengthens […]