Algoma is an important Canadian flat-rolled steel producer. It is also a significant supplier to the US market. We’ll discuss current dynamics in the North American sheet and plate markets – as well as some of the particulars of the Canadian market.
Last week was billed as big. The annual meeting of members of the Asia Pacific Economic Cooperation (APEC) in San Francisco convened amid much fanfare. A much-anticipated meeting between President Biden and President Xi Jinping of China was a featured event. So also, was the anticipated completion of the framework agreements establishing the Indo-Pacific Economic […]
European Aluminium, an association representing the entire European aluminum value chain, announced in a press release that it supports the European Commission's proposed 12th package of sanctions against Russia.
Algoma Steel CEO Michael Garcia will be the featured speaker on SMU’s Community Chat webinar on Wednesday, Nov. 29, at 11 am ET. You can register here.
The London Metal Exchange (LME) aluminum 3-month price is moving down again on the morning of Nov. 10 and was last seen trading at $2,225 per metric ton. The US Midwest premium remained steady for the third week in a row, suggesting a bottom might have been hit. Trading activity is picking up for the […]
Alan Price discussed the deep complexity of issues in the Global Arrangement on Sustainable Steel and Aluminum negotiations between the US and EU on Wednesday’s Community Chat.
SMU gives an overview of the steel market and economic indicators for October.
The LME aluminum three-month price was unchanged on the morning of Nov. 3 and was seen trading at $2,235 per tonne.
Ryerson saw lower sales and shipments in the third quarter and is anticipating further declines in the last quarter of the year.
The long-anticipated US-EU summit took place on October 20. There was wide anticipation that the two sides would announce a partial agreement on steel and aluminum policy and perhaps an agreement on critical minerals, such as lithium for electric vehicle batteries. Even modest accomplishments such as these were not to be. Instead, the US and […]
With the aluminum industry assembled in Nashville, Tenn., for the Aluminum USA 2023 conference, word was breaking of a tentative deal between the United Auto Workers (UAW) and Ford.
Reliance Steel & Aluminum is anticipating overall demand to remain healthy through year’s end despite some weakening in some sectors and normal seasonality.
Electricity demand worldwide is growing significantly, requiring massive investments in the electric grid to supply increased needs and desire for electricity. A recent report by the International Energy Agency (IEA) indicates that global demand for electricity will double from 2020 to 2050. In developed economies, the growth rate will be somewhat lower. But it will […]
After a meeting Friday at the White House, the EU and US issued a joint statement noting no concrete movement towards a Global Arrangement on Sustainable Steel and Aluminum.
LME Aluminum Continues To Trade Under Pressure; US Midwest Premium Stays Between 19–19.5¢/lb The LME aluminum 3-month price continued to trade under pressure on the morning of 20 October and was last seen trading at $2,177/t. The US Midwest premium showed no surprise as it continued to sit between 19–19.5 ¢/lb. The UAW strikes are […]
On its third-quarter earnings conference call on Thursday, Oct. 19, Steel Dynamics Inc. executives did not rule out the possibility of ‘inorganic growth’ opportunities.
Wiley partner Alan Price will be the featured speaker on Steel Market Update’s next Community Chat webinar on Wednesday, Nov. 8, at 11 a.m. ET. You can register here.
Much effort has been made in examining the supply chain of commodities related to electrification: everything from copper to aluminum to critical battery materials such as lithium, nickel, and cobalt. One overlooked material, however, is electrical steel.
Steel Dynamics Inc. (SDI) reported a drop in third quarter profits on lower prices for flat-rolled steel as well as for fabricated products.
The LME aluminum 3-month price was stable on the morning of Oct. 13, trading at $2,201 per tonne at that time.
The pig iron trade is an important element to the US steel and foundry industry.
The US and European Union are expected to sign a political agreement that puts a hold on a part of the Global Arrangement on Sustainable Steel and Aluminum (GSA) regarding the decarbonization of steel and aluminum making, according to an article in The Financial Times.
The US and European Union will continue trade talks on Friday, Oct. 20, according to a statement from the European Council.
Cleveland-based service center group Olympic Steel has named a new aluminum sales director.
The LME aluminum three-month price was broadly unchanged on Friday morning, Oct. 6, and was last seen trading at $2,243 per ton. Due to the Mid-Autumn Festival and National Day celebrations, the SHFE is closed for holidays from Sept. 29 to Oct. 6. According to a report from Bloomberg, leaders from the EU and the […]
As steel production in the US continues to get cleaner, aluminum end users are calling on the government to invest in American-made, clean aluminum
Steel prices continued to decline last month – a trend we’ve seen repeated since mid-April.
Last week the World Trade Organization (WTO) held its periodic retreat for members to discuss the future of the organization.
The LME aluminum 3-month price was up 4.7% during the last week of the month to close September trading at $2,325 per metric ton – its highest price since early August. Several correlations appeared to have broken down in the short term given the weakness in the US stock market, a weaker copper price, and, critically, the resurgent dollar.
US President Joe Biden is set to meet European Commission President Ursula von der Leyen and European Council President Charles Michel on Oct. 20 in Washington ahead of a deadline for an agreement on steel, according to a report in Reuters.