Tag: domestic steel

US steel mill shipments increased in January vs. December but fell from a year earlier,

US hot-rolled coil (HRC) is now just about 5% more expensive than offshore hot band. The premium domestic product had over imports for roughly five months is all but gone, and nearing parity.

The failure of the trade remedy actions against imported steel tin mill products (TMPs) continues to resonate. Cleveland-Cliffs and the United Steel Workers Union (USW) lost the case at the International Trade Commission (ITC) last month. A few days ago, the ITC released its final report explaining the decision against imposing antidumping and countervailing duties […]

The premium US hot-rolled coil (HRC) held over offshore product for roughly five months has nearly vanished. Domestic hot band prices continue to run downhill at a high rate, erasing a $300/st gap they had over imported HRC just two months ago.

Foreign cold-rolled coil (CR) remains much less expensive than domestic product even as prices in the US have declined at a rapid pace over the past month, according to SMU’s latest check of the market.

Domestic prices have been sliding since the beginning of the year, and I don’t see any obvious reasons why the slide might stop this week. But let’s put the timing of a bottom aside for a minute. The question among some of you seems to be whether we’ll see another price spike, or at least a “dead-cat bounce,” before the typical summer doldrums kick in.

In the period between mid-February and mid-March, CRU forecasts global demand for steelmaking raw materials to change little from the previous month,but buying activity will improve towards the end of next month

The US already had strict regulations on air-quality standards for particulate matter, but they are going to get even tighter.

The premium US hot-rolled coil (HRC) held over offshore product is disappearing in a hurry. Domestic hot band prices continue to fall at a fast clip, erasing a nearly $300/st gap they had over imported HRC just two months ago. All told, US HRC prices are now 8.8% more expensive than imports. The premium is […]

US hot-rolled coil (HRC) prices moved lower again this week, remaining largely on a downtrend since mid-January. The result has caused domestic tags to lessen their price premium over imported products week on week (w/w).

The US apparent steel supply moved up to 7.79 million short tons (st) in December, a rise of 2% from 7.67 million st in November, according to data from the Department of Commerce and the American Iron and Steel Institute (AISI). Apparent steel supply is determined by combining domestic steel mill shipments and finished US […]

Last week, steel consumers prevailed in a rare victory over US petitioners in trade cases on tin mill steel products. The US International Trade Commission (ITC) voted 4—0 that Cleveland-Cliffs, the sole remaining domestic producer of tin mill products (used to make containers such as “tin cans”) was neither injured nor threatened with injury by imports of competing products from Canada, China, and Germany. Imports from South Korea were found to be “negligible,” and the investigation on Korean imports was terminated. 

The US Environmental Protection has announced more stringent air quality standards that could impact domestic steel producers.

US hot-rolled coil (HRC) prices were again lower this week, pushing the price premium domestic hot band carries over imported products lower vs. the prior week.

What are folks in the steel industry talking about? SMU polled steel buyers on a variety of subjects this past week, including domestic steel prices, import offers, buying activity, and more. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words.

Domestic steel shipments increased in December on-year but were down from the previous month, according to the latest data released by the American Iron and Steel Institute (AISI).

I participated in the 35th annual Tampa Steel Conference last week, a conclave of steel producers, consumers, traders, logisticians, and (a few) trade lawyers. I participated in a panel discussion concerning challenges in managing supply chains in these troubled times. Things appear to be heading in the wrong direction in this field. Supply chains were shown to be vulnerable to pandemics in 2020 and 2021, and, in 2022 and 2023, to regional conflicts and weather slowing or stopping the free movement of goods through trade bottlenecks (the Suez Canal, the Panama Canal, the Bosporus, etc.)

US hot-rolled coil (HRC) prices law little movement this week, a similar trend seen in offshore markets. Thus, the price premium domestic hot band carries over imported products was largely unchanged vs. the prior week.

The 35th Annual Tampa Steel Conference starts in just a few days. As one of the premier domestic steel conferences, it’s the perfect way to kick off 2024. It’s not too late to register if you haven’t already done so, but make sure to book now!

US hot-rolled coil (HRC) prices declined further this week, easing to their lowest level since late November. And while domestic tags remain notably more expensive than offshore product, the premium has declined as imported hot band tags have moved higher.

What's being talked about in the US steel market this week?

Steel Dynamics Inc. (SDI) reported lower fourth quarter 2023 earnings on Tuesday but predicted good times ahead in 2024. The Fort Wayne, Ind.-based steelmaker posted a Q4’23 profit of $424.3 million, down 33.2% from a profit of $634.9 million in Q4’22 on sales that fell 12.3% to $4.2 billion.

Metalformers remain positive about business prospects for the first quarter of 2024, boosted by reported growth in January.

We’re just a week away from the 35th annual Tampa Steel Conference! It’s one of the premier domestic steel conferences and the first can’t-miss event of 2024. If you haven’t already registered, there is still time but make sure to book now!

US hot-rolled coil (HRC) prices edged down this week while import prices moved higher on average. Domestic hot bands’ premium over cheaper imports declined as a result. But overall, US product remains substantially more expensive than overseas material. All told, US HRC prices are 21.4% more expensive than imports, a premium that is down three […]

Raw steel production in the US decreased marginally in the second week of 2024, according to the most recent data from the American Iron and Steel Institute (AISI). Domestic steel output totaled an estimated 1,699,000 net tons in the week ended Jan. 13. That’s down 0.5% from the previous week, and comparable to the same […]

Bloomberg has reported that Nippon Steel’s $14.1-billion deal for U.S. Steel might not close until 2025 – well after the Q2/Q3 2024 close date both companies have guided toward. That’s because a national security review of the deal ($14.9 billion if you include the USS debt Nippon Steel would assume) by the Committee on Foreign Investment in the United States (CFIUS) could take longer than initially expected

US hot-rolled coil (HRC) prices were unchanged this week but remain significantly more expensive than offshore product. While imported hot band tags increased vs. last week, gains were marginal, keeping domestic HRC substantially more expensive than imports. All told, US HRC prices are 24.3% more expensive than imports, a premium that is down only slightly […]

Domestic steel mill shipments increased in November vs. a year earlier, but fell month over month.

The iron ore price has edged up further from the already high level seen last week. The market is generally slow, meaning that the moderate price increase came from the bullish outlook from the market following last week’s stimulus announcements from China and expectations of restocking picking up. Supply fell w/w from both Australia and Brazil as […]