Speaking at a steel industry gathering just two days after unveiling the historic trade deal she helped negotiate with the European Union, U.S. Trade Representative Katherine Tai described the progress made in steel trade and the challenges that still lie ahead in curbing global steel overcapacity. Following are her remarks today at the General Meeting […]
Steel Market Update is pleased to share this Premium content with Executive members. For information on upgrading to a Premium-levels subscription, email Info@SteelMarketUpdate.com. World crude steel production fell further in September, contracting for the fourth straight month. Since repeated months of record-breaking output in late Q1 and early Q2, steel production has begun trending down, […]
In this year’s edition of CRU Breakfast – part of LME Week – we explored three key themes that shaped the commodities markets – the global economic and commodities outlook, the changing role of China, and Navigating ESG. All three themes have been central to many developments in the industry and remain equally crucial moving […]
In the latest salvo in the emerging battle for green steel dominance, Nucor has launched Econiq, a new line of net-zero carbon steel products. “Building the green economy and the necessary infrastructure requires clean, advanced steel products. By introducing Econiq, Nucor is providing confidence for steel consumers to know they are purchasing the lowest greenhouse gas […]
World crude steel production contracted for the third consecutive month in August, a complete reversal from the repeated months of record-breaking output from March through May, according to World Steel Association (worldsteel) data. Global production in August, at an estimated 156.8 million metric tons, declined 3.0% from July, and was 1.4% lower than the same […]
Steelmakers around the world produced an estimated 156.8 million metric tons of crude steel in August, down 3.0% or 4.9 million metric tons from the month prior, reported the World Steel Association (worldsteel). Cutbacks in China accounted for much of the decrease. Global steel production in August was also down 1.4% compared to the same […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor Regional sheet markets have continued to exhibit divergent trends for not only prices, but also production and demand. The lone continent where sheet prices have yet to fall from a peak is North America. All other markets now have prices below their recent […]
World crude steel production contracted for the second straight month in July after repeated months of record-breaking output, according to World Steel Association (worldsteel) data. Global production in July, at an estimated 161.7 million metric tonnes, declined 3.7% from June, but was still 4.0% higher than the same period last year. Since March’s historic 12.7% […]
By Phil Bell, President, Steel Manufacturers Association Editor’s note: Phil Bell and SMA are now periodic contributors to Steel Market Update. Look for Phil’s insights on steel and events in Washington in future issues of SMU. Even as the United States has sought closer cooperation with allies to confront non-market actors like China, many of […]
World crude steel production, at an estimated 167.9 million metric tons in June, was down 3.7% from a month ago but up 12.0% when compared to the same year-ago period, reported the World Steel Association (worldsteel). June’s data is the first decrease in more than four months and follows sequential record-breaking increases seen from March […]
World crude steel production lost momentum in June after repeated months of record-breaking output, according to World Steel Association (worldsteel) data. Global production in June, at an estimated 167.9 million metric tons, declined 3.7% from May, but was still 12.0% higher than the same period last year. Since March’s historic 12.7% jump, world crude steel production […]
There are many roads to a Paris Accord-aligned carbon emissions target, but few steel-specific pathways, said BHP Billiton Chief Economist Huw McKay during CRU’s Steel Decarbonization Strategies 2021 Virtual Conference last week. BHP’s top economist said steel emissions have roughly doubled over the past three decades due to rising demand and production despite major efficiency […]
World crude steel production kept its upward momentum in May with another record-breaking month, according to World Steel Association (worldsteel) data. Global output, at an estimated 174.4 million metric tons, was 16.5% higher than the year-ago period and 2.8% higher than April. Since March’s historic 12.7% jump, world crude steel production has been trending up. May’s […]
World crude steel production, at an estimated 174.4 million metric tons, was 16.5% higher in May than in the same month last year, reported the World Steel Association (worldsteel). May’s data is significant not just due to a stellar recovery from the coronavirus-driven doldrums, but the fact that May’s output is 2.8% higher than April’s […]
I asked a good friend of mine after he was appointed to as the deputy head of a cabinet department what a typical day was like for him. “It’s drinking water from a fire hose. Things come at you so fast you can’t get out of the way,” he said. As an observer and occasional […]
I asked a good friend of mine after he was appointed to as the deputy head of a cabinet department what a typical day was like for him. “It’s drinking water from a fire hose. Things come at you so fast you can’t get out of the way,” he said. As an observer and occasional […]
World crude steel production in April was unable to sustain the recent surge in output, according to World Steel Association (worldsteel) data. As the globe works to recover from the economic blows inflicted by COVID-19 in 2020, global steel production is seeing mixed results. Following March’s month-on-month 12.7% jump, April’s underwhelming increase of 0.1% further […]
It’s time to roll back the Section 232 tariffs on steel and aluminum imports, and the Section 301 tariffs on imports from China, which are inflicting significant harm on U.S. businesses and workers, argued the National Foreign Trade Council on Wednesday in an appeal to the Biden administration. The NFTC’s briefing paper, “Why Recent Tariff […]
Global crude steel production totaled 150.2 million metric tons in February, up 4.1% from the same month last year, reported the World Steel Association. Despite the positive year-over-year result, February’s total was down 7.8% from January and was the lowest output since July 2020 when monthly production was 155.5 million metric tons. February’s data is […]
As the world continues to work itself back from the doldrums of the COVID health pandemic, global crude steel production seems to be hitting its stride as it strives to catch up with rising demand. Except for Brazil, which saw no change in crude steel production month on month, all the top 10 global producers and regions […]
U.S. steel producers, facing intensifying criticism from steel consumers over record-high steel prices, were quick to point to a new report this week from the Economic Policy Institute, which concludes that the Trump-era Section 232 tariffs have been an effective deterrent to unfair imports and should be continued by the Biden administration. The Steel Manufacturers […]
World crude steel production, at 150.2 million metric tons, was 4.1% higher in February than in the same month last year, reported the World Steel Association. February’s data is significant in that it’s the last month that year-over-year figures can be compared pre-pandemic without being skewed by COVID, which hit in March last year. February’s […]
Global crude steel production totaled 162.9 million tons in January, up 1.3% from the month prior and up 4.8% year over year when total production was 155.5 million metric tons. The U.S. was the fourth largest producer, accounting for 5.6% of total global crude steel produced in January at 9.6 million metric tons, while China […]
I’m looking forward to next month’s Tampa Steel Conference, where we will discuss lots of steel-related policy issues. The conference provides an opportunity to weigh the importance of the steel industry in the American economy and the global economy. We cannot realistically discuss what to do about steel (or any industry) from either a government […]
The United States experienced the least growth among the 10 major steel-producing nations in the three months through November, according to data from the Organization for Economic Cooperation and Development (OECD). Figure 1 shows annualized monthly global steel production on a three-month moving average (3MMA) basis and capacity utilization since January 2000 based on capacity […]
Data from the World Steel Association through October shows how much global crude steel production has recovered from the worst of the pandemic earlier in the year. Figure 1 shows annualized monthly global steel production on a three-month moving average (3MMA) basis and capacity utilization since January 2000 based on capacity data from the OECD. […]
Global steel production continued to decline in July. The World Steel Association reports crude production fell 2.5 percent year-over-year to 152.7 million metric tons based on reporting and estimates by 64 countries. The COVID-19 crisis and its disruption to economic activity was blamed for the fifth month of consecutive decline. Robust demand boosted China crude […]
World crude steel production declined by 7 percent in June, compared with the same month last year, to a total of approximately 148.3 million metric tons, reported the World Steel Association in Brussels. For the first six months of 2020, global steel production totaled 873.1 million tons, down 6.0 percent year over year as steel […]
In 12 months through June, China’s steel production exceeded one billion metric tons for the first time. Figure 1 shows annualized monthly global steel production on a three-month moving average (3MMA) basis and capacity utilization since January 2000 based on the updated OECD capacity data. Capacity utilization in June on a 3MMA basis was 75.3 […]
Global steel production contracted by 6 percent year over year in the three months through July as China’s steel production expanded by 6 percent to another all-time high. This data comes from the World Steel Association (WSA), which defines crude steel as “steel in its first solid (or usable) form: ingots, semi-finished products (billets, blooms, […]