U.S. steel product shipments rose for a sixth straight month in October, expanding by 1.7% versus the prior month. The pace of growth has been steady over the past few months. Steel product shipments have grown at a rate just under 2.0% month on month since July and keeping a steady upward trend since May. […]
Nucor Corp. plans to build a new, $350 million rebar “micro mill” in the South Atlantic region of the U.S. The new mill is expected to have capacity of 430,000 tons per year, the Charlotte, N.C.-based steelmaker said. “We have recently executed two successful rebar micro mill start-ups and believe the East Coast market will be in […]
The American Iron and Steel Institute (AISI) praised a new bipartisan bill designed to crack down on trade cheating and enhance the tools available to combat repeat offenders of U.S. trade remedy laws. The “Eliminating Global Market Distortions to Protect American Jobs Act of 2021” – also referred to as “The Level the Playing Field Act 2.0” – […]
With almost 11 months in the record books, domestic raw steel production is up nearly 20% versus last year when the market was dogged by various pandemic disruptions. Adjusted year-to-date production through Nov. 27 totaled 86,274,000 net tons – up 19.7% from the 72,053,000 net tons during the same period in 2020. The average mill utilization […]
Domestic raw steel production slipped in the week ending Dec. 4, down for the second straight week. U.S. mills produced an estimated at 1,807,000 net tons during the week, while the average mill utilization rate dipped to 81.9%, according to the American Iron and Steel Institute (AISI). Production was down an estimated 1.6% compared to […]
Domestic raw steel production edged higher in the week ending Nov. 20, increasing for the second consecutive week. U.S. mills produced an estimated 1,861,000 net tons during the week, while the average mill utilization rate rose to 84.3%, according to the American Iron and Steel Institute (AISI). Production was up an estimated 0.3% compared to […]
Raw steel production by U.S. mills rebounded after falling for three straight weeks, and down five out of the last seven weeks. Domestic raw steel production was estimated at 1,856,000 net tons in the week ending Nov. 13, while the average mill utilization rate rose to 84.1%, according to the American Iron and Steel Institute […]
When President Biden signed his long-awaited infrastructure bill, he did far more than set out to make America’s roads and bridges safer. The $1 trillion measure promises to be a boon to the environment, and the steel industry in particular. The American Iron and Steel Institute (AISI) lauded the Infrastructure Investment and Jobs Act. “Modernizing […]
Total mill shipments of steel products fell 12.2% in September to 8.502 million tons, after seeing an 11.1% increase the month prior. Apparent supply also slipped in September, down 6.9%, following a 7.9% increase in August. September’s contractions mark the first decrease in steel supply in seven months. This analysis is based on steel mill shipment […]
September apparent steel supply increased by 90,000 tons over August to 9.92 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. This is the highest supply level seen in more than six years, going back to January 2015 when supply surpassed 10 million tons. September supply is up […]
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. U.S. raw steel production in September eased 4.9% from August to 7.89 million net tons, a 408,000-ton seasonal decline, according to American Iron and Steel Institute data. One month prior, production had reached a 20-month high […]
Raw steel production by U.S. mills slipped for the third straight week, now down five out of the last six weeks. Domestic raw steel production was estimated at 1,841,000 net tons in the week ending Nov. 6, while the average mill utilization rate dipped to 83.4%, its lowest reading since the week of July 10, […]
Steel industry lobbying groups and trade unions cheered passage of the bipartisan House $1 trillion infrastructure bill – which experts estimate could result in millions of tons of new steel demand. The legislation devotes approximately $850 billion to steel-intensive infrastructure, according to estimates from the American Iron and Steel Institute (AISI). The House vote, which occurred late […]
The House has finally passed a bipartisan infrastructure bill after months of wrangling not only among Republicans and Democrats but also among factions within the Democratic party. “American steel built this country, and the industry is now ready to get to work on rebuilding this country. Repairing and modernizing our national transportation system is essential […]
U.S. mill CEOs generally praised the tariff rate quota (TRQ) agreement reached with the EU. But they stressed that enforcement would be key to its success. The United Kingdom, Japan and countries that have hard quotas – such as South Korea – are places that come to mind when one thinks of where a deal might […]
Speaking at a steel industry gathering just two days after unveiling the historic trade deal she helped negotiate with the European Union, U.S. Trade Representative Katherine Tai described the progress made in steel trade and the challenges that still lie ahead in curbing global steel overcapacity. Following are her remarks today at the General Meeting […]
Raw steel production by U.S. mills slipped for the second consecutive week following their highest tonnage output since the pandemic started just two weeks prior. Domestic raw steel production was estimated at 1,860,000 net tons in the week ending Oct. 30, while the average mill utilization rate was 84.3%, according to the American Iron and […]
By Trade Attorney Lewis Leibowitz At the last minute, the U.S. and EU announced a deal to keep the tariff wars from getting worse. Yesterday, at the G20 meeting in Rome, the two sides announced an agreement that will prevent major retaliatory tariffs on U.S. exports to Europe from going into effect on Dec. 1. […]
The U.S. and European Union (EU) announced a deal this weekend that removes Section 232 tariffs on imports from the EU and replaces them with a tariff rate quota (TRQ) system. The agreement ends a dispute dating back to 2018 when President Trump imposed Section 232 tariffs on steel and aluminum imports, and it heads […]
Steel imports into the United States jumped by nearly 35% in the first nine months of this year, versus the same period in 2020, according to Census Bureau data from the American Iron and Steel Institute (AISI). Tight supplies and record-high domestic steel prices have attracted a host of imports, which are reportedly some $400-800 […]
Domestic raw steel production edged down slightly after matching its pandemic-era high the week prior. Production by U.S. mills was estimated at 1,870,000 net tons in the week ending Oct. 23, while the average utilization rate was 84.7%, according to the American Iron and Steel Institute (AISI). Output was down 0.6% compared to the week […]
U.S. raw steel production has recovered after slipping for two straight weeks. Production by U.S. mills was estimated at 1,882,000 net tons in the week ending Oct. 16, while the average utilization rate equaled its highest reading all year at 85.3%, according to the American Iron and Steel Institute (AISI). Output rose by 1.3% compared to […]
As I bounce around the market this week talking to steel buyers, I am trying to get a better feel for potential changes, how contract negotiations are going, how receptive end-user customers are toward the higher prices being offered (compared to one year ago), and what kind of foreign steel offers are out there. The […]
U.S. raw steel production edged down for the second straight week. Production by U.S. mills was estimated at 1,858,000 net tons in the week ending Oct. 9, while the average utilization rate was still a very strong 84.2%, according to the American Iron and Steel Institute (AISI). Output was down by 0.7% compared to the week […]
August apparent steel supply increased by 130,000 tons over July to 9.83 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. This is the highest supply level seen since January 2019, a 31-month record. August supply is up 2.69 million tons compared to the same month […]
Mill shipments of steel products jumped 11.2% in August to 9.69 million tons, following an increase of 2.0% the month prior. Apparent supply was up 7.8% in August after a 3.6% increase in July. August’s expansion is the sixth straight month of growth in the steel supply since February’s double-digit contraction. This analysis is based on […]
Steel industry trade associations and other supporters of the Section 232 tariffs are strongly opposed to a bill introduced in Congress this week by U.S. Senators Pat Toomey (R-Pa.) and Mark Warner (D-Va.) called the Bicameral Congressional Trade Authority Act. Sponsors of the measure say it is designed to prevent potential presidential abuse of “national […]
U.S. steel product shipments rose for a fourth consecutive month in August, but at a slower pace, just 0.6% above July’s total. Despite the slow pace of growth, steel product shipments have been on a steady upward trend for much of the year. Although the expansion in steel product shipments and new orders continued, the […]
Domestic raw steel production slipped in the week ending Oct. 2, remaining just under the pandemic-era high seen the month prior. According to the American Iron and Steel Institute (AISI), production by U.S. mills was estimated at 1,827,000 net tons while the average mill utilization rate was 84.8%. Output edged down slightly by 0.4 of […]
U.S. steel product shipments grew for the third straight month in July, up 2.8% from the prior month. Following some irregularity to start the year after bottoming out in May 2020, steel product shipments have been on a steady upward trend. Mill outages, factory curtailments, seasonal disruptions, and COVID-related closures slowed steel products’ shipments to […]