Tag: Aluminum

A roundup of recent aluminum news from CRU.

SMU’s monthly at-a-glance articles summarize important steel market metrics for the prior month. This May report contains data updated through June 7. Steel prices for sheet and plate products continued to edge lower throughout May. The SMU Price Momentum Indicator was adjusted from neutral to lower at the beginning of the month. We saw a […]

Now that June has arrived, the official countdown until SMU’s Steel Summit 2024 – North America’s premier flat-rolled steel conference – has begun. If you haven’t already registered, don’t delay. More than 700 attendees from more than 300 companies have already registered to be in Atlanta this August. In short, it’s poised to be another […]

Germany's Speira is investing €40 million (USD$43.3 million) for additional recycling capacity to drive the transformation of its Rheinwerk facility and achieve a total saving of up to 1.5 million metric tons (mt) of CO2 per year at the site, it was announced today.

A roundup of aluminum news from CRU.

We’re just a few months away from SMU’s Steel Summit 2024 – North America’s premier flat-rolled steel conference.

Most metalformers expect economic activity to be level to down over the next three months, according to the May Business Conditions Report from the Precision Metalforming Association (PMA).

The US OCTG Manufacturers Association (USOMA) announced that the US Customs and Border Protection (CBP) agency made an initial affirmative determination of duty evasion practices.

The Biden administration recently announced tariffs on several products from China, including steel and aluminum. There has been much rejoicing over this move and there has been a great deal of support from the steel industry. 

Steelmaking raw material prices have moved in different directions over the past month, according to SMU’s latest analysis.

In conjunction with President Biden’s visit to Vietnam in September 2023, Vietnam’s government petitioned the US Department of Commerce (DOC) for “market economy” treatment. This would be a major trade concession, as DOC has recognized for years that Vietnam’s economy does not operate according to market principles. However, graduating Vietnam to market economy status would […]

The LME 3-month price for aluminum was broadly stable on the morning of May 24 and, at the writing of this article, was last seen trading at $2,627 per metric ton. The price fell sharply during the week from its recent peak amid hawkish comments from Fed officials, as indicated in the minutes of the […]

Venture Steel announced plans to expand its flat rolled processing facility in Ramos Arizpe, Coah., Mexico.

The free market operates best when it is freest. But all governments intervene in markets in response to conditions that threaten peaceful progress. President Biden decided last week that market intervention was justified. He approved a report from the US Trade Representative (USTR) that recommended continuing the “Section 301” tariffs on Chinese imports into the United States.

President Biden announced an increase in tariffs this week on Chinese EVs, semiconductors, batteries, solar cells, steel, and aluminum.

SMU had the pleasure of attending the American Iron and Steel Institute's (AISI's) annual general meeting in Washington this week. It was a slow week in our nation's capital, so we were able to take a leisurely stroll around the National Mall and take in the sights. Just kidding. In fact, the meeting coincided with significant trade actions announced by the Biden administration. It included, among other things, additional tariffs on Chinese steel and aluminum.

Following the announcement earlier this week that the US will hike import tariffs on Chinese goods, including steel and aluminum, Canada’s steel industry called on its government to consider similar tariffs.

Cleveland-Cliffs’ Lourenco Goncalves thinks trade measures announced by the US government on Tuesday against China were just the opening salvo in a series of trade actions. Case in point: The Biden administration targeted China’s “unfair” trade policies with additional tariffs on an array of Chinese-made goods - including steel, aluminum, and EVs.

The Biden administration announced a series of actions on Tuesday targeting China’s "unfair" trade policies. These actions will, among other things, make imports of steel and aluminum from the Asian nation even more prohibitive.

The Mexican federal government backed down on the application of tariffs on raw non-alloyed and alloyed aluminum decreed on April 22.

Steel prices trickled lower across the month of April for both sheet and plate products.

US announces new import duties on aluminum extrusions The US Department of Commerce has placed preliminary antidumping (AD) duties of 2-600% on imports of aluminum extrusions from 14 countries. The rates are: “[The findings] show just how widespread dumping practices are globally and highlight the importance of strongly enforcing the antidumping laws to shield US […]

Latest AA extrusion shipment report shows persistently weak demand The US Aluminum Association released its latest shipment report for extruded products. According to the report, shipments in March 2024 totaled 383.2 million pounds, representing a drop of 10.6% y/y but a rise of 4.5% m/m. For the YTD period through March, total shipments are now […]

Constellium reported its latest quarterly results for Q1'24. Adjusted Ebitda came in at €137 million (USD$147 million), down 8.6% year over year (y/y) amid revenue of €1.7 billion (USD$1.8 billion), down 12% y/y. Shipments totalled 380,000 metric tons (mt) in Q1, representing a drop of 2% y/y.

Steel Dynamics Inc.'s (SDI's) earnings fell in the first quarter of 2024 as the company cited steel order volatility early in the quarter and lower scrap prices.

AZZ Inc. said it is seeing improving demand for its coil coating services as it reported a solid quarterly performance.

Last week gave us a glimpse into the effect of the 2024 election campaign on trade policy. In a major announcement, the Biden administration pressed the US Trade Representative (USTR) to triple certain Section 301 tariffs on steel and aluminum. It’s a lot to unpack. You can find the full text of the announcement here. […]

Here’s a roundup of the latest news in the global aluminum market from our colleagues at CRU. Biden calls for tripling of Chinese steel and aluminum tariffs President Joe Biden is calling on the US Trade Representative (USTR) to consider increasing the existing section 301 import duty on Chinese steel and aluminum three-fold. The current […]

Prices of steelmaking raw materials have moved in different directions over the last 30 days, according to Steel Market Update’s latest analysis.

The Biden administration on Wednesday announced measures to support the domestic steel industry.