President Biden strengthened “Buy American” provisions for government procurement with his signature Friday on new rules that will increase the threshold for the value of products to be considered American-made from the current 55% to 65% by 2024 and 75% by 2029. Proponents consider this a positive development for manufacturing and job-creation in the U.S., […]
Raw steel production by U.S. mills recovered last week, expanding for just the second time in seven weeks. Domestic mills produced a total of 1,762,000 net tons in the week ending March 5, while mill capacity utilization edged back up to 80.0%, the American Iron and Steel Institute reported. U.S. output was up 0.4% compared […]
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. The value of U.S. steel product shipments was virtually unchanged in January at $12.320 billion or 0.1% above December’s total. Though negligible, the increase follows declines over the prior two months after […]
In comments on Russia’s invasion of Ukraine, industry trade representatives said they expect limited impact on their members in the U.S., while expressing sympathy for Ukrainian citizens. “As we monitor the crisis in Ukraine to address any potential impacts to our industry, the safety of the Ukrainian people remains foremost in our minds,” said Kevin […]
Raw steel production by U.S. mills fell again last week, now down five out of the past six weeks. Domestic mills produced a total of 1,755,000 net tons in the week ending Feb. 26, while mill capacity utilization slipped back down to 79.7%, reported the American Iron and Steel Institute. U.S. output was down 0.5% […]
Raw steel production by U.S. mills edged up last week, the first increase in five weeks. Domestic mills produced a total of 1,764,000 net tons in the week ending Feb. 19, while mill capacity utilization moved back up to 80.1%, reported the American Iron and Steel Institute. U.S. output was up 0.3% compared to the […]
For a fourth straight week, U.S. raw steel production has declined. Domestic mills produced a total of 1,758,000 net tons in the week ending Feb. 12, while mill capacity utilization last week averaged 79.8%, reported the American Iron and Steel Institute. U.S. output was down 1.5% versus the prior week but 1.0% higher than the […]
U.S. apparent steel supply levels slipped 3% from November to December, down 286,000 net tons to 9.48 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. Recall that September 2021 saw the highest monthly supply level in over six years, going back to January 2015 when supply surpassed 10 […]
Total mill shipments of steel products rebounded in December to 8.985 million tons, a 7.8% increase over November’s 8.334 million tons, and the highest monthly total for 2021. Apparent supply saw a 5.0% boost in December, rising for the second straight month following repeated decreases in September and October. This analysis is based on steel mill shipment […]
U.S. raw steel production marginally increased from November to December to 7.83 million net tons, according to recently released American Iron and Steel Institute data. Recall that in August, production reached a 20-month high of 8.29 million tons. December production was up 691,000 tons or 10% compared to the same month last year. Note that […]
Raw steel production by domestic mills fell for the third consecutive week, totaling 1,785,000 net tons in the week ending Feb. 5, according to the American Iron and Steel Institute (AISI). U.S. output was down 0.6% versus the prior week, but was 2.6% higher than the same period last year when production was 1,739,000 net […]
The U.S. has announced that a deal has been reached with Japan to ease Section 232 national security tariffs on steel imports from the key U.S. ally. The U.S. Commerce Department and the Office of the U.S. Trade Representative announced the deal at around 5 pm Eastern Time on Monday, Feb. 7, as SMU had […]
The American Iron and Steel Institute sent a letter to House members Wednesday urging them to support the America COMPETES Act of 2022, which aims to enhance U.S. competitiveness to counter alleged nonmarket policies and practices by China. The legislation will strengthen the U.S. trade remedy laws by making more tools available to obtain timely […]
House passage of the America COMPETES Act this week proposes greater investment in American manufacturing and scientific research, as well as changes in trade policy to counter China’s growing economic influence around the world. But the measure must still overcome strong partisan opposition to reconcile it with the Senate version before it can become law. […]
Raw steel production by U.S. mills totaled 1,796,000 net tons in the week ending Jan. 29, slipping for the second straight week, reported the American Iron and Steel Institute. Domestic output was down 1.6% versus the prior week, but was still 3.5% higher than the same year-ago period when production was 1,736,000 net tons. Mill […]
Domestic raw steel production totaled 1,803,000 net tons in the week ending Jan. 22, down 1.6% versus the prior week and slipping for the first time in three weeks, reported the American Iron and Steel Institute. Despite the decrease, last week’s output marked a 3.9% gain over the same period last year when production was […]
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 […]
Raw steel production by domestic mills improved for the second straight week, totaling 1,833,000 net tons in the week ending Jan. 15. The increase marked a 5.6% gain over the same period last year and up 1.1% from the prior week when production was 1,813,000 tons, reported the American Iron and Steel Institute. Mill capacity […]
Total mill shipments of steel products fell 3.3% in November to 8.334 million tons, slipping for only the second time in eight months. Apparent supply rose fractionally in November, up 0.2% after eroding successively the prior two months. This analysis is based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import-export […]
U.S. apparent steel supply levels remained high through November, down less than 1% from the month prior to 9.77 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. Recall that in September we saw the highest supply level in over six years, going back to January […]
U.S. steel product shipments rose for a seventh straight month in November, expanding by 0.7% versus the prior month. The pace of growth had been steadily rising over the past few months, however, the rate of rise eased in November, the first such shift since May. New orders for steel production, while fractionally higher in […]
Commercial Metals Co. (CMC) plans to build a “micro mill” to better serve markets in the Northeast, Mid-Atlantic and Midwest. “The new micro mill will fortify our position in the large construction markets within the region and optimize CMC’s existing Eastern U.S. operational footprint,” CMC Chairman, President and CEO Barbara Smith said. The new mill […]
Steel production by domestic mills rose during the first full week of the New Year, pushing capacity utilization up over 82%. U.S. raw steel output totaled 1,813,000 net tons in the week ending Jan. 8, up 4.4% from the same period last year and up 1.6% from the prior week when production was 1,785,000 tons, reported […]
Total steel imports into the United States jumped by nearly 45% in the first 11 months of 2021, reported the American Iron and Steel Institute, based on preliminary Census data through November. Imports for the year to date totaled 29.7 million net tons of steel, up 44.6% versus the same period in 2020, including 21.6 […]
Steel production by domestic mills saw a small dip over the holidays, but capacity utilization remains above a healthy 80% to start the New Year. Raw steel output totaled 1,785,000 net tons in the week ending Jan. 1, 2022, up 9.5% from the same period last year but down 0.9% from the prior week when […]
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 […]
Domestic raw steel production lost some ground in the week ending Dec. 18, slipping for the third time over the past four weeks and falling to its lowest total since the week ending May 22. U.S. mills produced an estimated at 1,805,000 net tons during the week, while the average mill utilization rate fell to […]
Apparent steel supply remained high in October at 9.86 million net tons, down just 0.6% from September, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. Recall that in September we saw the highest supply level in more than six years, going back to January 2015 when supply surpassed 10 million tons. October […]
Domestic raw steel production recovered some ground in the week ending Dec. 11 after slipping for two straight weeks. U.S. mills produced an estimated at 1,818,000 net tons during the week, while the average mill utilization rate rose to 82.4%, according to the American Iron and Steel Institute (AISI). Production was up an estimated 0.6% […]
Total mill shipments of steel products edged up 1.4% in October to 8.619 million tons, following a 12.2% fall the month prior. Apparent supply slipped for the second straight month in October, down 2.2% on top of a 6.9% decline in September. October’s contraction marks the first month-on-month decrease in steel supply since apparent supply fell […]