U.S. steel exports in November totaled 615,818 net tons (558,661 metric tons), down 2.4 percent from October, and down 30.2 percent from levels one year ago. After the September 2018 low of 584,858 tons, last November is the next lowest month for exports since February 2009 when 602,945 tons of steel were exported outside of […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: Section 232 tariffs are increasingly in the news. Today, I describe two issues that are central to the prosperity (and in many cases the survival) of steel-using manufacturers. Exclusions With the end of the government shutdown, the exclusion […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: Section 232 tariffs are increasingly in the news. Today, I describe two issues that are central to the prosperity (and in many cases the survival) of steel-using manufacturers. Exclusions With the end of the government shutdown, the exclusion […]
Rolled product imports increased by 4.5 percent in January, calculated as a three-month moving average (3MMA) year over year. This early look at January’s import volume is based on Department of Commerce license data (see explanation below). Beginning in January 2018, we expanded this import analysis to include all major steel sectors: sheet, plate, longs […]
By CRU Australia Analyst Ryan Smith China has traditionally dominated long product exports to the South East Asia (SEA) region. However, a change in market dynamics has reduced Chinese export volumes and created an opportunity for exporters from further afield. In Turkey, economic challenges, in combination with rising trade barriers such as EU safeguards and […]
Global manufacturing is approaching the stagnation point, says a new survey by J.P. Morgan and IHS Markit. The J.P. Morgan Global Manufacturing PMI fell for the ninth month in January to register 50.7, its lowest reading since August 2016. Trade tension originating with the U.S. was a common theme throughout the IHS Markit PMI reports […]
By CRU Steel Editor Linda Lin, Shanghai, China Through late December and the first half of January, Chinese exporters were able to realize a small increase in steel export prices for the first time since August. The m/m increase in HR coil was limited to $2 /t, while rebar prices rose by $6 /t. Price […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: The Court of International Trade (CIT) has rejected the U.S. Commerce Department’s finding that a “particular market situation” justifies steep antidumping margins against South Korean exports of oil country tubular goods (OCTG) to the United States. In a […]
Steel Dynamics is excited about its recently announced plans for a new steel mill in the Southwest. After an outstanding year, breaking records for shipments, sales, net income and cash flow, CEO Mark Millett is looking forward to filling a steel void in the southwestern U.S. and Mexico. Steel Dynamics hopes to announce a site […]
U.S. ports reported a record year for cargo volume in 2018. The Port of Los Angeles broke its all-time cargo record for the third time in a row, moving 9,458,749 TEUs (twenty-foot equivalent units the size of a container), a 1.2 percent increase from 2017. The Port of New Orleans reported a new record and a […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: A bill set for introduction today in the House of Representatives would, if enacted, fundamentally change the basics of U.S. policy on international trade. Rep. Sean Duffy (R-Wis.) will introduce the bill, which was drafted by the Trump administration. […]
Don’t expect to have your Section 232 exclusion request looked at any time soon. The Commerce Department has announced that, due to the number of furloughed employees during the partial government shutdown, it will temporarily suspend processing of Section 232 exclusions. Contingency plans at the nation’s trade offices have dramatically reduced the number of people […]
Analysts at the CRU Group share their latest information on the global iron ore and coking coal markets. Iron Ore Prices Steady on Short Supply Weak seaborne supply kept iron ore prices elevated during the past week. The market is also closely following the development of the fire at Rio Tinto’s Cape Lambert port, which […]
Auto production in North America exhibited the normal slowdown in December. This is a new report using LMC Automotive as the data source for automotive assemblies in the U.S., Canada and Mexico. The breakdown of assemblies is “Personal” (cars for personal use) and “Commercial” (light vehicles rated at less than 6.0 metric tons gross vehicle […]
The North American steel sheet market in 2018 was heavily influenced by effects from the Section 232 tariffs. These tariffs greatly increased U.S. sheet prices, while at the same time helped to further reduce imports. Our forecast today calls for a more measured rate of increase for underlying industrial growth, while prices will more closely […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: When the unusual happens, we often are jarred from our routine. I have experienced this since Dec. 21, when the government shutdown officially began at midnight (Dec. 22). The shutdown is “partial,” meaning that only certain government departments […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: When the unusual happens, we often are jarred from our routine. I have experienced this since Dec. 21, when the government shutdown officially began at midnight (Dec. 22). The shutdown is “partial,” meaning that only certain government departments […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: This is an update on the trade-related committees in the new Congress. The Senate Finance Committee and the House Ways and Means Committee are the congressional bodies with jurisdiction over most international trade matters. Senate The new chairman […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: This is an update on the trade-related committees in the new Congress. The Senate Finance Committee and the House Ways and Means Committee are the congressional bodies with jurisdiction over most international trade matters. Senate The new chairman […]
By CRU Analysts Laima Balse and Director Paul Robinson Prices for all major commodities in the CRU price basket, except for U.S. steel, declined during 2018. There were a few factors that caused this downwards price trend and market volatility. This overview looks across the commodity groups at the common trends affecting the industry, and […]
The following was submitted by trade attorney Lewis Leibowitz. His contact information is at the end of the article. As we approach the new year, I have been reflecting on the next few months and what may come in 2019. One of my history professors in college often said, “change is the only permanency.” I […]
The following was submitted by trade attorney Lewis Leibowitz. His contact information is at the end of the article. As we approach the new year, I have been reflecting on the next few months and what may come in 2019. One of my history professors in college often said, “change is the only permanency.” I […]
Editor’s note: Steel Market Update is sharing the following Premium content with all its readers in this issue. For more information on how to upgrade to a Premium-level subscription, email info@SteelMarketUpdate.com. The U.S. has strengthened its position in the global scrap market since Q1 2016. This is an analysis that we perform quarterly. We believe […]
Editor’s note: Steel Market Update is sharing the following Premium content with all its readers in this issue. For more information on how to upgrade to a Premium-level subscription, email info@SteelMarketUpdate.com. The growth of U.S. GDP in third-quarter 2018 came in at 3.36 percent, but the mix of contributors was concerning. On Friday, the Bureau […]
Demand for long products is booming, plate products are doing OK, sheet products are flat and tubulars are cratering. This analysis by SMU staff is based on data from the American Iron and Steel Institute (AISI) and the U.S. Department of Commerce (DoC). The analysis summarizes total steel supply by product from 2003 through October […]
Editor’s note: Steel Market Update is interested in your views of the Trump administration tariffs. Following are comments shared by two SMU readers. To submit your opinions (anonymously if preferred), email John@SteelMarketUpdate.com. Q: Do you think the Section 232 and Section 301 tariffs have accomplished what the president set out to do – improve national […]
A new American Steel Index report by Business Forward shows U.S. steel prices have risen 7.4 percent since February, while foreign steel prices have fallen 9.8 percent. As a result, American manufacturers are paying 17.2 percent more for hot- and cold-rolled steel than their foreign competitors. “President Trump’s tariffs on steel and aluminum are increasing […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor The steel sheet market in North America is starting the second half of the year off with the same primary trends seen in the past few quarters: rising prices due to strong demand and supply that continues to be affected by unplanned disruptions. […]
By CRU Senior Editor Ryan McKinley, from CRU’s Steelmaking Raw Materials Monitor Upward momentum for the CRU metallics price indicator (CRUmpi) slowed in July, but still rose by 2.8% m/m to 413.5. Metallics price increases were strongest in Europe amid high steel demand, with both HBI and scrap prices there rising from June levels. Scrap […]
The U.S. Chamber of Commerce announced its support of the new North American trade agreement, but urges the administration to drop the Section 232 steel and aluminum tariffs on Canada and Mexico. Chamber of Commerce President and CEO Thomas Donahue cites the onerous financial impact the tariffs have had on Chamber members and urged their […]