Tag: Hot-Dipped Galvanized

On Friday, the US International Trade Commission (ITC) voted to continue the trade case investigation of corrosion-resistant (CORE) steel imports from 10 trading partners.

AZZ Inc., relatively unfazed by volatility in zinc pricing, is optimistic about demand prospects and M&A opportunities, especially in the galvanizing sector.

AZZ Inc. posted sharply higher second-quarter profits driven by increased sales of and better demand for its products. The Fort Worth, Texas-based hot-dipped galvanized and coil coater reported net income of $35.4 million in the second quarter of 2024, up 43.3% from $24.7 million in the same quarter last year. It posted Q2'24 sales of $409 million, up 2.6% from $398.5 million in Q2'23.

We are pleased to share this CRU analysis of the North American zinc market with SMU subscribers.

On Thursday, the Department of Commerce announced it would initiate investigations into coated steel imports from ten countries.

Galvanized steel buyers on Tuesday discussed the eerie stability in sheet prices of late. Expectations are for the murky market to persist in the short term, while glimmers of hope continue for prices pushing higher.

The premium galvanized coil prices carry over hot-rolled (HR) coil continues to shrink, according to SMU price indices.

SMU has compiled a list of key dates to watch out for in the expansive trade case filed last week targeting corrosion-resistant steel imports.

SMU’s steel price indices showed mixed signals for a second consecutive week. Our hot rolled, cold rolled, and plate price indices inched lower from last week, as the galvanized index held steady and Galvalume's ticked higher.

Domestic steel producers and the United Steelworkers (USW) union filed a barrage of trade cases last week. This is hardly news. Ever since the Commerce Department ruled that Vietnam is still treated as a nonmarket economy (NME) for antidumping purposes, many in the business expected new cases on the product that Vietnam excels at—“corrosion-resistant steel.” Nor is it a surprise that these cases roped in nine countries in addition to Vietnam: Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, Taiwan, Turkey, and the United Arab Emirates. All these countries rank in the top ten exporters of corrosion-resistant steel to the United States. These petitions are a broadside against coated flat-rolled steel imports.

Domestic mills have alleged substantial dumping margins in the trade case targeting imports of corrosion-resistant steel.

US mills have filed or soon will file a sprawling trade petition against imports of coated flat-rolled steel from 10 countries. The petition seeks anti-dumping margins against Canada, Mexico, Brazil, the Netherlands, Turkey, the United Arab Emirates, Vietnam, Taiwan, Australia, and South Africa. It also seeks countervailing duty margins against Canada, Mexico, Brazil, and Vietnam. That’s according documents dated Sept. 5 and addressed to Commerce Secretary Gina Raimondo and International Trade Commission (ITC) Secretary Lisa Barton.

Swampy. Sticky. Mushy. Murky. These were all words galvanized buyers used this week to describe the current state of the US steel market.

Steel buyers continue to report short mill lead times for both sheet and plate products, according to SMU's latest canvass of the market. Lead times for hot-rolled and plate products marginally increased from our late July survey, likely due to limited restocking in anticipation of upcoming mill outages for scheduled maintenance.

The Department of Commerce issued the p antidumping and countervailing duties (AD/CVDs) on corrosion-resistant steel products (CORE) from South Korea.

US steel imports registered a steep decline from May, with June licenses falling to the lowest monthly level so far this year.

Low global sheet demand continued to weigh on prices around the world this week. In the US, mills were forced to remain aggressive to secure orders during this period of demand weakness. And compounded by recent new capacity ramp-ups, has forced US hot rolled (HR) coil prices down closer to levels seen in offshore markets. […]

The chairman of a large American steel company called for Mexico to be dropped from USMCA at a steel industry conference last week. This follows earlier calls from members of Congress to reinstate Section 232 duties on Mexico. How did we get to this point?

Steel mill lead times remain short for all steel products tracked by SMU, according to our latest market survey. Service center and manufacturers continue to report short to normal lead times for sheet and plate products.

Steel imports fell back in May from April’s recent high but remained elevated compared to the levels seen over the past year. A deeper dive into the data confirms what SMU has been hearing from sources: Coated sheet is driving the recent rise in overall import levels.

Movements in steel mill lead times were mixed this week, according to our latest steel buyers survey results. Service centers and manufacturers reported short to average production times, little changed from our last report.

Steel buyers found mills more willing to negotiate spot pricing this week on all products SMU tracks with the exception of Galvalume, according to our most recent survey data.

US sheet prices remained on a downward course again this week amid chatter in some corners about a potential broader slowdown in demand. SMU’s hot-rolled (HR) coil price now stands at $730 per short ton (st) on average, down $20/st from last week and down $115/st from a recent high of $845/st in early April. […]

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.

Hot rolled buyers found mills less willing to negotiate spot pricing this week, while other products SMU tracks were mixed, according to our most recent survey data.

Prices for hot-rolled (HR) coil in recent weeks have been declining faster than those for galvanized sheet, resulting in a growing price spread between the two steel products.

Hot rolled, cold rolled, and plate buyers said mills are more willing to talk price on spot orders this week, while the overall negotiation rate for products SMU surveys remained level, according to our most recent survey data.

Sheet prices fell across the board this week – largely in response to Nucor’s $65-per-short-ton price cut for hot-rolled (HR) coil on Monday morning. SMU’s HR coil price is $780/st on average, a $35/st decrease week over week (w/w). Our average cold-rolled coil price is $1,090/st (down $30/st w/w). Our galvanized base price is $1,100/st […]

Sheet prices were flat or moderately down again this week – underscoring the shift in momentum we’ve seen over the last month. The exception was hot-rolled (HR) coil, which was largely unchanged from last week.

Sheet prices were again mixed this week – all seemed to highlight the momentum shift seen over the past two weeks.