Tag: Climate Change

Canada and the EU have established a Green Alliance, pledging to align their domestic and international climate policies in the pursuit of climate neutrality.

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 […]

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.

Last week the World Trade Organization (WTO) held its periodic retreat for members to discuss the future of the organization.

Trade policy moves create great ironies sometimes. I often write about these ironies when the US acts against the interests of the country as a whole by protecting certain industries from international competition. But the US is not alone, especially in recent years as the World Trade Organization and the international geopolitical order have been […]

As the Oct. 31 deadline approaches to reach an agreement on steel matters, the US and EU are headed for an impasse.

Steel trade continues to cause dissension among our friends, perhaps more so than our adversaries. The conflict between the US and EU is the most talked about, but it impacts others including Japan, Brazil and India.

For starters, thanks to Barry Zekelman, chairman and CEO of Zekelman Industries, for taking time for a Community Chat on Wednesday. Zekelman was, as always, sharp on steel. He also caught my attention and some of yours when he said he was interested in buying a steel mill.

For starters, thanks to Barry Zekelman, chairman and CEO of Zekelman Industries, for taking time for a Community Chat on Wednesday. Zekelman was, as always, sharp on steel. He also caught my attention and some of yours when he said he was interested in buying a steel mill. “I’ve dreamed of owning a steel mill […]

Occasionally, a story jolts you awake. You realize how much things have changed—once, a pro-trade remark from a senior government official was routine. Now, it is remarkable. Last week the President’s Export Council (PEC), an advisory group currently chaired by Mark Ein of Kastle Systems, met for the first time since the Obama administration. The […]

US-EU talks on a global arrangement on carbon emissions are back in the news, and the latest is that Europe might have sunk a potential deal with the States, according to reporting from The Financial Times. If no deal is reached, Section 232 tariffs of 25% on steel from the EU could be reinstated. That […]

A rare state visit by Prime Minister Narendra Modi of India culminated in a joint statement by President Biden and the prime minister last Thursday. This was a blockbuster statement, covering 58 paragraphs and resolving or narrowing differences on a host of issues. Some disputes had been festering for years. Despite pre-meeting statements advising that […]

U.S. Steel published its 2022 Environmental, Social and Governance (ESG) Report in which the Pittsburgh-based steel maker said it has dedicated itself to creating sustainable steel and contributing to a greener economy. The report, titled “Essential for Our Future,” reaffirms how essential steel is to creating green technology such as wind turbines solar fields, and […]

The US and EU affirmed their intention to reach a common framework on carbon emissions in steel and aluminum by October at the Trade and Technology Council (TTC) meeting in Luleå, Sweden, on Wednesday.  At the meeting the EU and US said that via the Transatlantic Initiative for Sustainable Trade they are “strengthening engagement towards […]

Executives from leading US steel companies sat down to discuss some of the challenges ahead of what appears to be a very bright future for the industry at AISTech 2023’s Town Hall Forum in Detroit on Wednesday, May 10. Panelists included Traci L. Forrester, Cleveland-Cliffs’ EVP, environmental and sustainability; Richard L. Fruehauf, SVP – chief […]

Weather events significantly disrupted commodity markets in 2022, fueling already significant price volatility. La Niña has ended in Australia, but other weather events and permanent climate change continue to impact global commodity supply chains. Weather – A Significant Disruptor in 2022 Heightened seasonal weather and extreme weather events disrupted multiple commodity markets in 2022. Heavy […]

National Security Advisor Jake Sullivan recently gave an important speech on the direction of trade policy. It was not his speech alone, but part of a coordinated roll-out of the Biden administration on trade policy, including contributions from President Biden, US Trade Representative Katherine Tai, and US Treasury Secretary Janet Yellen. It’s worth looking at […]

The United States and European Union are quarrelling about several trade issues. None is more far-reaching than the trade impact of measures to address climate change.  While some still doubt the need or ability of the world’s nations to tax or subsidize their way out of human-caused global warming, governments, at least in Europe and […]

The World Trade Organization keeps on rolling along. Last week, the current director general (DG) of the World Trade Organization, Ngozi Okonjo Iweala, made a trip to the United States to attend the IMF annual meetings and to meet with international trade-oriented officials and business representatives.  Her itinerary included addressing the Washington international trade community, […]

Top executives from US Steel met with White House officials to explore funding opportunities for decarbonization. The Pittsburgh-based steelmaker said president and CEO David B. Burritt and Richard L. Fruehauf, chief of strategy and sustainability, joined White House climate officials as well as industry and labor leaders to discuss “public and private collaborations to support […]

By CRU Research Analyst Rosy Finlayson, from CRU’s Steelmaking Raw Materials Monitor Last week, trading activity in the Turkish scrap import market was limited. Buyers held off on purchasing material as they awaited details on the announcement of a finished steel price cap agreement between the Turkish Trade Ministry and steelmakers. However, deals done late […]

President Biden devoted a significant portion of his State of the Union address earlier this month on Buy American issues. As on most issues, “the devil is in the details,” but his general sentiment is clear. America, he believes, has sent jobs and wealth overseas by allowing Americans to buy imported products. This is a […]

Depending on when you read this, you might know who won the Super Bowl, but we know who won this week—Joe Biden. President Biden gave an effective State of the Union on Tuesday.  The speech had everything his (and Bernie Sanders’) supporters could hope for: more Buy American, more equality, more populism, even more support […]

Nucor Corp. has introduced its new sustainable, heavy-gauge steel plate “Elcyon.” The product will be made exclusively for the US offshore wind energy sector, and will be manufactured at Nucor’s new $1.7-billion ultramodern plate mill in Brandenburg, Ky. “By launching Elcyon at Brandenburg we have effectively created the first domestic supply chain of sustainable steel for our […]

By CRU Principal Economist Alex Tuckett, from CRU’s Global Economic Outlook In December we conducted our annual macroeconomic survey, asking our clients to look into the future of the global economy. As we look back on a year full of challenges for the global economy and head into 2023 full of uncertainty, we explore the […]

Nucor Corp. rolled its first steel plate at its new $1.7-billion plate mill in Brandenburg, Ky., on Dec. 30, the company said in a statement on Tuesday, Jan. 3. The Charlotte, N.C.-based steelmaker confirmed final commissioning and first customer shipments from the mill are expected in the first quarter of 2023. “Congratulations to our more than […]

The US and the European Union have been engaging in talks designed to reduce global “overcapacity” in steelmaking. These talks stemmed from the agreement between the US and EU to change US Section 232 import measures from tariffs to tariff rate quotas (TRQs). The US has announced a plan (details are scarce) to impose higher […]

Nucor Corp. has partnered with Boulder, Colo.-based startup Electra to develop “carbon-free” iron. The goal is to further reduce greenhouse gas emission in Nucor’s steelmaking operations. “Just as Nucor changed the face of the steel industry 53 years ago with our first electric arc furnace, successfully developing and scaling up a zero-carbon iron product is the […]

Nucor Corp. has become the first major industrial company to join the United Nations 24/7 Carbon-Free Energy Global Compact. The Compact’s aim is to accelerate the decarbonization of the global electricity systems, reducing climate change, and providing access to clean and economical electricity, effectively advancing the world’s transition to a zero-carbon electrical grid. Nucor is […]

By CRU Sustainability Analyst Zsombor Garzo, from CRU’s Sustainability Services – The US political system was designed to balance power – with the President, the Congress, and the Supreme Court all being able to challenge each other. – Democrats losing control of Congress would considerably limit the Biden administration’s ability to pursue its climate change […]