Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: Product Exclusions—The Latest No objections to product exclusions had been posted on the regulations.gov website as of April 29. The BIS regulations require objections to be submitted to BIS within 30 days after a request has been posted. […]
For the ultimate prognosticators out there, individual tax returns were due today (April 17) by midnight. The IRS has had computer issues today and has extended the deadline to April 18 at midnight. The Metals Service Center Institute inventories and shipment article in tonight’s issue will be the last one Steel Market Update will produce. […]
Registrations for the 2018 SMU Steel Summit Conference have blasted through the 300 executives level and we continue to get multiple registrations daily. Here are some of the companies who registered on Monday of this week (those with an asterisk * denote more than one person registered from that company): Ryerson*, Nucor*, California Steel Industries, […]
Steel supply and pricing were the main topics discussed during the March 20 Heating, Air-conditioning, and Refrigeration Distributors International (HARDI) conference call. The Section 232 tariff on steel will go into effect on Friday, March 23, but HARDI members are already seeing an impact in the market. Steel prices are up $6/cwt since the last […]
NLMK USA told Steel Market Update this afternoon that if the 25 percent tariff on steel, and specifically on steel slabs, goes into effect, the future of their company and the people who work for it is in jeopardy long term. Steel Market Update spoke with Bob Miller, President of NLMK USA and Executive Vice […]
NLMK USA told Steel Market Update this afternoon that if the 25 percent tariff on steel, and specifically on steel slabs, goes into effect, the future of their company and the people who work for it is in jeopardy long term. Steel Market Update spoke with Bob Miller, President of NLMK USA and Executive Vice […]
California Steel Industries (CSI) is calling for President Trump to exclude semi-finished steel from the 25 percent tariff he is expected to impose on steel imports under Section 232. CSI is a “slab converter” mill, relying almost entirely on imported slab as feedstock to produce coil steel sheet and electrical resistance welded (ERW) pipe. Because steel […]
Last week, President Trump let it slip of his intention to place a 25 percent tariff on steel and a 10 percent tariff on aluminum coming from foreign sources, including our NAFTA partners. Over the weekend, countries around the world have pledged to respond to any tariffs on steel and aluminum with tariffs of their […]
The market is moving very quickly now as issues of supply begin to raise their ugly heads. The issues at California Steel Industries (CSI) have spooked the market and steel mills are abondoning the process of announcing price increases prior to raising prices. In reality, prices have already gone up $50 per ton from the […]
California Steel Industries (CSI) surprised customers with a whopping $120 per ton price increase on all its flat rolled products on Monday, the same day that its main West Coast competitor USS-POSCO (UPI) informed customers that its April order book is now closed. In its Feb. 26 letter to customers, CSI announced that it’s April […]
California Steel Industries (CSI) surprised customers with a whopping $120 per ton price increase on all its flat rolled products on Monday, the same day that its main West Coast competitor USS-POSCO (UPI) informed customers that its April order book is now closed. In its Feb. 26 letter to customers, CSI announced that it’s April […]
The SMU Steel Summit Conference is THE fastest growing steel conference in North America and THE one conference manufacturing, distribution, suppliers to the industry and steel mills want to attend. Details about the agenda, speakers, location and costs, as well as how to register, can be found on our website: www.SteelMarketUpdate.com/Events/Steel-Summit or you can contact […]
When the pressure begins, and the cooking surface gets “hot,” that is when you have to be at your best, most nimble and anticipate problems. USS/POSCO announced new prices late yesterday. We have not heard from California Steel Industries (CSI) on what they are going to do regarding pricing. We have heard from their customers […]
Last week ended with a bang. Steel Market Update received an invitation to participate in a press conference as Department of Commerce Secretary Wilbur Ross told the world that the DOC had found that imports of foreign steel negatively impact the steel and aluminum industries, which are necessary in the United States for national security […]
It is not enough to know a steel mill’s base price. When doing a comparison of galvanized transaction pricing, a steel buyer must understand the extras being added to the base price as well as freight and other considerations that could impact the total delivered cost to your facility. During our Steel 101 workshop we […]
Responding to strong demand in the New Year and the market’s apparent acceptance of higher price tags, the major mills have announced another round of price increases on plate and flat rolled products. For most mills, this is the fourth increase they’ve announced in the past three months. On Monday, Nucor’s Plate Mill Group announced […]
The Nucor Sheet Mill Group informed customers on Friday of this past week, that it is raising base prices on new orders by a minimum of $30 per ton on hot rolled, cold rolled and galvanized products. Nucor’s latest hike follows a $40 per ton increase the steelmaker announced on flat rolled spot prices early […]
The Nucor Sheet Mill Group informed customers today, Friday, that it is raising base prices on new orders by a minimum of $30 per ton on hot rolled, cold rolled and galvanized products. Nucor’s latest hike follows a $40 per ton increase the steelmaker announced on flat rolled spot prices early this month. On Thursday, […]
West Coast steel mills California Steel Industries (CSI) and USS-POSCO Industries (UPI) announced further flat roll price increases yesterday, Jan. 24. Today, ArcelorMittal USA began advising their flat rolled customers of a change in their minimum base price levels on hot rolled, cold rolled and coated steels. CSI told customers that due to changing market […]
West Coast steel mills California Steel Industries (CSI) and USS-POSCO Industries (UPI) announced further flat roll price increases yesterday, Jan. 24. CSI told customers that due to changing market conditions it is increasing transaction prices by $60 per ton on Hot Rolled and P&O, $40 per ton on Galvanized and $30 per ton on Cold […]
Nucor led the charge of the East Coast flat rolled steel mills in an effort to keep prices moving higher. On Wednesday, Nucor, followed by U.S. Steel, put out announcements advising customers of their intention to raise spot flat rolled prices by $40 per ton. Soon after, NLMK USA and AK Steel followed Nucor’s lead […]
AK Steel and NLMK USA raised spot market base prices on all carbon flat-rolled steel prices by $40 per ton today, matching similar $40 hikes on hot rolled, cold rolled and galvanized steel products yesterday by Nucor and U.S. Steel. All four companies said the increase is effective immediately on new orders and will not […]
We are hearing that ferrous scrap prices will rise by $20 to $30 per gross ton this month. Negotiations continue at most of the mills, but we did learn of one Detroit mill settling yesterday up $20 on primes (busheling/bundles) and up $30 on the other grades. The cold weather, strong exports and low inventory […]
Starting the New Year with a new price, California Steel Industries (CSI) and USS-POSCO Industries (UPI) announced $30 per ton price increases today, Jan. 2. In a letter to customers, CSI stated it is increasing transaction prices on hot rolled, hot rolled pickled and oiled, cold rolled and galvanized flat roll by $30 per ton, […]
With mill order books extending into February on some products, most domestic steel producers have announced price increases. Steel Market Update sees steel prices moving higher for the next 30-60 days. The steel plate mills were the first to go last week, adding $50 per ton ($2.50/cwt) to the base price of plate steel. SSAB […]
AK Steel was the latest mill to climb on the price-hike bandwagon with its announcement yesterday of a $30 per ton increase on spot market base prices for all carbon flat-rolled steel product, effective immediately on new orders. AK Steel’s move follows on similar announcements in the past several days from other leading steelmakers, including […]
USS-POSCO is the latest flat roll mill to announce a price increase. In a letter to customers today, the mill said that, effective immediately, it is raising base prices on all sheet products by a minimum of the following: Hot Rolled P&O, $30 per net ton; Cold Rolled, $30 per net ton; and Galvanized, $30.00 […]
ArcelorMittal, California Steel Industries, NLMK USA and U.S. Steel all announced $30 per ton price increases on Friday. Their announcements follow on a similar hike by Nucor earlier this week. In a letter to customers, U.S. Steel’s North American Flat-Rolled Sales Organization stated that, effective immediately, it was increasing base pricing for all new flat-rolled […]
The Commerce Department’s Vietnam circumvention ruling on Tuesday represents a departure in the U.S. government’s interpretation of what constitutes adding “minor or insignificant” value to a product. This is a key issue in determining whether importation of a product from a country not directly subject to a trade remedy amounts to a “circumvention” of existing […]
In preliminary rulings today, the U.S. Department of Commerce announced that corrosion-resistant steel (CORE) and certain cold-rolled flat products imported from Vietnam, produced from substrate originating in China, are circumventing existing antidumping and countervailing duty (AD/CVD) orders. As a result, Commerce will instruct Customs and Border Protection (CBP) to begin collecting cash deposits on the […]