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 […]
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 […]
Since Nov. 20, 2017, two of the West Coast flat rolled mills have increased prices. On Monday, UPI (USS/POSCO) followed the lead of California Steel Industries (CSI) by raising prices. In a letter to customers, they advised that prices of hot rolled pickled & oiled (HRPO), cold rolled and galvanized would increase by $30 per […]
Twice per month, Steel Market Update (SMU) conducts an analysis of the flat rolled steel markets and trends associated with those who buy and sell hot rolled, cold rolled, galvanized, Galvalume and steel plate. One of the key areas we review is how steel service centers are handling spot pricing to their end user customers. […]
We did a quick check of lead times at a number of domestic steel mills on Friday of this past week. This is what we learned: Steel Dynamics Industries (SDI) – Butler, Ind. HR – closed for November production Pickled – closed for November production CR – closed for November production HRG – 11/20 (4 […]
In its comments on President Trump’s “Buy America” executive order, California Steel Industries (CSI) makes a convincing case for steel companies that process slabs not “melted and poured” in the United States. In April, President Trump instructed all federal agencies to assess their compliance with Buy America/Buy American policies (which have an important distinction, as […]
Despite recent price increase announcements from major domestic mills and imports that are trending lower, wholesalers and distributors who sell galvanized steel products to the HVAC market don’t expect much change in lead times or pricing until there’s some resolution to the Section 232 and Vietnam circumvention trade actions pending in Washington. In the monthly […]
Zinc prices have been rising and we are starting to see updated galvanized price extras from the mills. Steel Market Update has received updated galvanized coating extras from Nucor, USS Posco (UPI), NLMK, California Steel Industries (CSI), and AK Steel. We updated the comparison tables on our website and have included a copy of the […]
The Commerce Department has extended the deadline for determinations in the anti-circumvention investigation of corrosion-resistant steel from China to Feb. 15, 2018. On Nov. 14, 2016, the anti-circumvention case was initiated on CORE steel products from the People’s Republic of China in response to a request from steel companies ArcelorMittal USA, Nucor, U.S. Steel, AK […]
The number of U.S.-based flat rolled steel mills announcing price increases on hot rolled, cold rolled, galvanized and Galvalume has reached six. On Tuesday of this week, Nucor Sheet Mill Group became the first flat rolled steel mill to raise transaction pricing on spot flat rolled steel. The Nucor increase was for a “minimum” of […]
Four flat rolled steel mills, Nucor, NLMK USA, California Steel Industries (CSI) and ArcelorMittal USA, announced spot price increases today on all flat rolled steels produced at each mill. The Nucor Sheet Mill Group, which handles flat rolled steel products, announced a minimum of $30 per ton ($1.50/cwt) price increase on hot rolled, cold rolled […]
The following steel mills are registered to attend this year’s SMU Steel Summit Conference at the end of this month: ArcelorMittal Mexico, ArcelorMittal Dofasco, ArcelorMittal/Nippon Sumitomo Calvert, Ternium USA, Ternium Mexico, NLMK USA, Nucor, Nucor Mexico, Nucor Canada, Kandil Steel (Egypt), California Steel Industries, AK Steel, CSN USA, North Star BlueScope, Steel Dynamics Inc., The […]
I was advised late on Friday afternoon that we should expect a Nucor price increase early next week. With scrap prices firming $10 to $30 per ton our expectation is for the increase to be $25-$30 per ton. Then the question will be will the industry support another increase after tepid (at best) support for […]
It has been another busy week here at Steel Market Update. We are hearing from steel buyers that Nucor is considering raising flat rolled prices by $25 per ton within the next few working days. The increase would follow an increase in ferrous scrap prices for August delivery. We have also heard that at least […]
John Packard, Publisher, Steel Market Update Today I spent a good portion of my time wandering around the United States and Canada soliciting information about flat rolled steel pricing, lead times, Section 232 and anything else steel buyers wanted to talk about. I thought the quote of the day was from a manufacturing company who […]
John Packard, Publisher, Steel Market Update Today I spent a good portion of my time wandering around the United States and Canada soliciting information about flat rolled steel pricing, lead times, Section 232 and anything else steel buyers wanted to talk about. I thought the quote of the day was from a manufacturing company who […]
The “will they or won’t they” drama around Section 232 and whether the Trump administration will place tariffs on steel imports is reaching a peak. The Department of Commerce is expected to announce its findings on the Section 232 investigation by the end of next week. According to CNBC, a draft of the report has been circulated […]
I am in California as we are conducting our 21st Steel 101 workshop. We have a great group coming as far away as New Jersey in the East, Singapore to the West, Washington state, Oregon, Indiana, Michigan, Texas and many more states. I want to thank California Steel Industries (CSI) and John Walburg for a […]
On Friday, June 16th USS/POSCO Industries (UPI) in Pittsburgh, California increased flat rolled steel prices by $50 per ton ($2.50/cwt). The steel price increases were to be in effect “immediately.” Prices were raised on all products produced at UPI. This includes hot rolled pickled & oiled (HRPO), cold rolled (CR) and galvanized steels. In a […]
Late last week we got word from a steel buyer that the Indian steel mill – Uttam – was advising their customers of their intention to discontinue exports of light gauge galvanized steel to the United States. I did contact Uttam USA offices for comment and, as of this evening, I had not yet received […]
For those of you either attending or thinking of attending the 2017 SMU Steel Summit Conference in Atlanta on August 28, 29 & 30th our room block at the host hotel, which is the Atlanta Airport Marriott Gateway Hotel located next to the Georgia International Convention Center (GICC). Even though our room block is complete […]
All of the major flat rolled steel producers have approached their customers and advised them of their intention to increase hot rolled, cold rolled, galvanized and Galvalume prices by a minimum of $30 per ton. As of this evening (Tuesday, June 6, 2017) we have seen price announcements out of California Steel Industries, USS Posco […]
During the Section 232 hearing at the Department of Commerce yesterday, Wilbur Ross told U.S. Congresswoman Marcy Kaptur (OH) that his report on steel Section 232 will be on the President’s desk by the end of June. This coincides with the prognostication of trade attorney Lewis Leibowitz who felt the President could react by the […]
My “final thoughts” is an area of the newsletter where I can provide some of my opinions on a wide range of topics, provide information or updates on our workshops and conference or provide late-breaking tidbits from around the world that come in late in the day and are unable to make it into a […]
The U.S. Department of Commerce released import license data for April as well as Preliminary Census Data for the month of March. The Preliminary Census Data will be finalized in about a week’s time and usually there are only minimal revisions. March foreign steel imports are being reported as being 3.4 million net tons. This […]
We managed to squeeze in an extra day off for our crew due to the Easter Holiday. So, if you were looking for a newsletter on Sunday evening – sorry, we skipped a day. But, we are making up for it today with an issue that if you printed it you could use as a […]
Steel Market Update took our latest Steel 101: Introduction to Steel Making & Market Fundamentals on the road today as we traveled to Delta, OH to tour the North Star Bluescope steel mini-mill. Our group consisted of attendees visiting a steel mill for the first time (one of our attendees was on the second day […]
For those who missed my comment earlier, Acero Junction hot strip mill is rolling at close to full right now. Our sources are advising us that the mill is running about 50,000 tons of HRC. They have prime slabs on the floor and incoming from Brazil (one of the reasons why semi-finished imports continue to […]
I had a question from one of our readers regarding capacity utilization rates and if the Big River Steel tonnage is part of the AISI calculation. I have not spoken directly to the AISI on the subject (as of yet) but, I do know that Big River Steel is not a member of the AISI… […]