President Trump signed an executive order today intended to boost the use of American-made iron, steel and other manufactured products in infrastructure projects by adding pressure on private and public sector entities that receive federal financial assistance. Called “Strengthening Buy American Preferences for Infrastructure Projects,” the order directs agency heads to “encourage recipients of new […]
Two manufacturing associations came out with opposing views on Wednesday to a new bill that would limit presidential power for the execution of trade measures under Section 232. The Bicameral Trade Authority Act of 2019, introduced in the House and Senate, would require congressional approval before the president could take trade actions, like tariffs and […]
A bill limiting the president’s authority to impose tariffs under the auspice of national security will be introduced in Congress next week. Sen. Pat Toomey (R-PA) will introduce a bill that would require the president to obtain approval from Congress before imports could be restricted under Section 232 of the Trade Expansion Act of 1962. […]
There has been a downward reversal in raw materials prices in the last month. Table 1 summarizes the price changes through January of the five materials considered in this analysis. It reports the month/month, 3 months/3 months and 12 months/12 months changes and tells us that price movements have been negative for all materials except […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: The dust hasn’t settled yet from the partial government shutdown that ended Friday night. Already, though, thoughts turn to the issues that divide us as a country. As a trade person, I naturally focus on that issue. You do […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: New 232 Lawsuit A new complaint against the United States was filed on Thursday, Jan. 17, by three U.S. importers of Turkish steel to contest the doubling of tariffs on Turkish steel into the United States. The plaintiffs are […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: New 232 Lawsuit A new complaint against the United States was filed on Thursday, Jan. 17, by three U.S. importers of Turkish steel to contest the doubling of tariffs on Turkish steel into the United States. The plaintiffs are […]
This article on the competitiveness of steel against other products was originally produced last week for Steel Market Update Premium members. We want our entire readership to review the analysis done by the Bureau of Labor Statistics and then analyzed by Peter Wright on our staff. If you would like information about upgrading to Premium […]
More than 800,000 car enthusiasts turned out for the North American International Auto Show this week in Detroit to admire the shiny new offerings for the 2019 model year. The steel industry is even more interested in what’s beneath those shiny exteriors. The Steel Market Development Institute displayed a degree of pride in congratulating the […]
Steel became less competitive in 2018 against aluminum, plastic and wood, according to Steel Market Update’s analysis of Bureau of Labor Statistics Producer Price Index data. The cost of carbon cold rolled sheet was up more than twice as much as aluminum sheet, and steel pipe was up by nine times as much as plastic […]
Reliance Steel & Aluminum Co. has promoted Jeffrey W. Durham to the position of Senior Vice President, Operations, effective immediately. His responsibilities will include overseeing the operations of a number of Reliance subsidiaries and divisions. Durham has served as Vice President, Merchandising at Earle M. Jorgensen Company (“EMJ”), a Reliance subsidiary, since 2014. He joined […]
Sherwin-Williams has announced a 6 percent hike in the cost of paint effective in March, upsetting customers in the prepainted steel and aluminum market. “There is no justification for this paint increase,” said one coil coater. “Oil prices are at their lowest level in years.” Sherwin-Williams raised prices twice last year when oil prices were […]
U.S. tariffs on steel imports from Canada continue to put pressure on Canadian producers while goverment officials seek an ending to the trade measures. Algoma Steel, which recently emerged from bankruptcy protection, is one of the vulnerable steel producers affected by Section 232. The second largest mill in Canada is expected to receive up to […]
It is so rare that I get to spend two weeks in the office, and I think I am going to be here for another week or so. At the end of the month, I will be in Mississippi to conduct one of our Steel 101 workshops. The Starkville workshop is close to being sold […]
People are beginning to ask questions about this year’s SMU Steel Summit Conference. Here is the most updated information: REGISTRATION IS OPEN Dates: Monday, Aug. 26 through Wednesday, Aug. 28, 2019 Location: Georgia International Convention Center (www.gicc.com) adjacent to the Atlanta International Airport (ATL). Same location as last year. Cost: $1,375 per person, prior to […]
With finished steel prices continuing their second-half decline through the end of 2018, the market is holding its collective breath to see if the mills announce a price hike this month. Many believe they will try to raise prices, but most are doubtful they will succeed. Following is what industry sources told SMU this week: […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: When the unusual happens, we often are jarred from our routine. I have experienced this since Dec. 21, when the government shutdown officially began at midnight (Dec. 22). The shutdown is “partial,” meaning that only certain government departments […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: When the unusual happens, we often are jarred from our routine. I have experienced this since Dec. 21, when the government shutdown officially began at midnight (Dec. 22). The shutdown is “partial,” meaning that only certain government departments […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: This is an update on the trade-related committees in the new Congress. The Senate Finance Committee and the House Ways and Means Committee are the congressional bodies with jurisdiction over most international trade matters. Senate The new chairman […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: This is an update on the trade-related committees in the new Congress. The Senate Finance Committee and the House Ways and Means Committee are the congressional bodies with jurisdiction over most international trade matters. Senate The new chairman […]
Perhaps it’s because the year started out with so much promise that the end of 2018 seemed so uninspiring. On balance, most in the steel business would call 2018 a good year, some even a great year. But few look forward to 2019 with the same optimism and confidence they felt a year ago at […]
When on calls with steel service center and manufacturing executives, one of the questions that always comes up is my view on the economy. I am not an economist and I defer to CRU and to economists like Alan Beaulieu of ITR Economics (Alan speaks at the SMU Steel Summit Conference). I know Dr. Beaulieu’s […]
By CRU Analysts Laima Balse and Director Paul Robinson Prices for all major commodities in the CRU price basket, except for U.S. steel, declined during 2018. There were a few factors that caused this downwards price trend and market volatility. This overview looks across the commodity groups at the common trends affecting the industry, and […]
Manufacturing activity in the U.S. continued to expand in December, but at a much lower pace, according to the latest ISM Report on Business. The December PMI fell 5.2 percentage points to 54.1 with indexes for new orders slipping 11 points and production slipping 5.3 points from November. The average PMI score for 2018 was […]
The service center sector will witness the return of a familiar old name in the new year. Norfolk Iron & Metal Co. has closed on its acquisition of O’Neal Flat Rolled Metals (OFR), which will now go to market under its former moniker Metalwest. Norfolk Iron purchased OFR from O’Neal Industries, based in Birmingham, Ala. […]
The New Year has started, the pace is a little slow for some, others have told me that their order books got a kick start yesterday. I have to imagine the differences are based on geography and product. This afternoon I had an interesting conversation with the head of commercial for a domestic steel mill. […]
The following was submitted by trade attorney Lewis Leibowitz. His contact information is at the end of the article. As we approach the new year, I have been reflecting on the next few months and what may come in 2019. One of my history professors in college often said, “change is the only permanency.” I […]
The following was submitted by trade attorney Lewis Leibowitz. His contact information is at the end of the article. As we approach the new year, I have been reflecting on the next few months and what may come in 2019. One of my history professors in college often said, “change is the only permanency.” I […]
Editor’s note: Steel Market Update is sharing the following Premium content with all its readers in this issue. For more information on how to upgrade to a Premium-level subscription, email info@SteelMarketUpdate.com. Table 1 summarizes the price changes through December of the five materials considered in this report. It reports the month/month, 3 months/3 months and […]
On Wednesday in New York, a three-judge panel on the U.S. Court of International Trade began deliberating a case that will examine the constitutionality of the Section 232 tariffs imposed by President Trump on imports of steel and aluminum in the name of national security. Opponents argue that such tariffs should be subject to congressional […]