“Dangerous, unintended consequences” could result from the Section 232 national security investigation of steel imports, said members of a panel hosted by the American Institute for International Steel, which represents foreign steel producers. “Our objective today is twofold,” said John Foster, AIIS chairman and president of Kurt Orban Partners, in his opening remarks, “First, to […]
Imports continued to increase their share of the steel sheet market in July. Apparent supply is a proxy for market demand. For all sheet products except other metallic coated, demand had positive momentum in three months through July. This report summarizes total steel supply from 2003 through July 2017 and year-on-year changes. It then compares […]
JSW Steel, a steel plate mill in Baytown, Texas, reports a remarkable story of perseverance, ingenuity and courage as it faced the devastation of Hurricane Harvey. As the hurricane was bearing down on the coast, CEO John Hritz made the difficult decision to shut down operations at the mill. JSW’s 700 acres are situated in […]
The U.S. Department of Commerce updated foreign steel license data on Tuesday. Based on data through the first 12 days of September, foreign steel imports are trending toward a 2.6 million net ton month. If the numbers hold, the 2.6 million tons would be one million tons lower than the three-month moving average, which is […]
The U.S. Commerce Department today announced an affirmative preliminary determination in the countervailing duty investigation on exports of metal tool chests and cabinets from China. Commerce calculated preliminary subsidy rates ranging from 17.32 percent to 32.07 percent. U.S. imports of tool chests and cabinets from China were valued at an estimated $989.9 million in 2016, […]
The Metals Service Center Institute is urging the Trump administration to take “swift, decisive action on the Section 232 steel investigation to bring certainty to the marketplace.” In a letter to President Trump last Thursday, MSCI President and CEO Robert Weidner, III, and Chairman R. Holman Head, stated that “problems posed by foreign government-sponsored capacity […]
The U.S. Commerce Department today announced an affirmative preliminary determination in the countervailing duty investigation on exports of metal tool chests and cabinets from China. Commerce calculated preliminary subsidy rates ranging from 17.32 percent to 32.07 percent. U.S. imports of tool chests and cabinets from China were valued at an estimated $989.9 million in 2016, […]
G-20 members are on track to hold their first official meeting of the Global Steel Forum on Excess Steel Capacity this fall. The forum was formed last year during the 2016 meetings to find “collective solutions” to remedy steel overcapacity and discourage protectionism. The group met informally at the Summit in Hamburg in July 2017. […]
Editor’s note: Following is a response from Zekelman Industries CEO Barry Zekelman to remarks by Daniel Pearson of the Cato Institute published in Steel Market Update’s Sept. 5 newsletter. Zekelman comments on his position on imports and the current state of steel-related trade into the U.S. During our exchange at the recent SMU Steel Summit […]
Apparent steel supply for the month of July totaled 9,570,118 net tons, according to the latest data from the U.S. Department of Commerce and the American Iron and Steel Institute. Apparent steel supply is calculated by adding domestic steel shipments and finished U.S. steel imports, then subtracting total U.S. steel exports. July apparent steel supply […]
We believe that misinformation, or a lack of information, about regional import volumes is often used to influence purchase decisions. Our intent with this analysis of sheet steel imports by district of entry and source through July 2017 is to describe in detail what is going on in a company’s immediate neighborhood and thus provide […]
Total rolled steel imports increased by 10.8 percent in the three months through August compared to the three months through May. Sheet product imports rose by 14.3 percent on the same basis, according to final license data for August reported by the U.S. Commerce Department on Aug. 6. The data is reported within the Steel […]
Both current and future sentiment showed a slight improvement in the latest SMU Steel Buyers Sentiment Index, based on data gathered in early September. The index measures how buyers and sellers of flat rolled steel feel about their company’s ability to be successful both in the current market environment, as well as three to six […]
Three out of four steel buyers responding to Steel Market Update’s latest market trends questionnaire believe the hurricane and flooding in Houston will have a significant impact on the steel industry, at least for the short term. Following are some insightful comments: · “It will have an impact. It will be negative in the short-term, […]
The U.S. Department of Commerce (DOC) released final census data on July foreign steel imports. The DOC advised total steel imports of 3,482,524 net tons. When semi-finished steels are removed (slabs/billets/blooms), finished steel imports totaled 2,896,389 net tons. At the same time, the DOC advised the latest license data for the month of August. As […]
Solar manufacturers are hoping for a positive determination in a Section 201 trade case that claims U.S. manufacturers are harmed by global overcapacity and the import of cheap solar modules from China. They are now getting support from the steel industry in the form of a letter to the U.S. International Trade Commission from the […]
The chaos to commerce continues in the Houston area as a result of flooding and damage from Hurricane Harvey. Texas Governor Gregg Abbot estimates damage to the area will be in the range of $150 billion to $180 billion. A quick survey of steel service centers and distribution centers in the area found that many […]
Steel Market Update asked four panelists at the 2018 Steel Summit to define free and fair trade and offer some solutions to what most in the industry consider unfairly traded steel imports. Philip Bell, president of the Steel Manufacturers Association representing North American EAF steel producers, said there are five components of free and fair […]
The manufacturing panel during the SMU Steel Summit Conference last week in Atlanta featured a lively exchange between Barry Zekelman (CEO, Zekelman Industries) and Dan Pearson (Cato Institute). Mr. Zekelman’s comments appeared in the Aug. 31, 2017, issue of Steel Market Update. Mr. Pearson, the former chairman of the International Trade Commission, read our article […]
The market’s obsessive speculation over Section 232 and possible new tariffs on steel imports has caused many to miss the big story, said Timna Tanners, research analyst for Bank of America Merrill Lynch. “Stop worrying about what’s happening in Washington and pay more attention to what’s happening in China,” she told the sellout crowd at […]
Half of the 36 Key Steel Market Indicators released in August are historically positive, while only 19 percent are negative, and the balance fall within the normal range, in Steel Market Update’s view. Along with May, when the data was about the same, this is the best outlook since we began our analysis in January […]
The Commerce Department has extended the deadline for determinations in the anti-circumvention investigation of corrosion-resistant steel from China to Feb. 15, 2018. On Nov. 14, 2016, the anti-circumvention case was initiated on CORE steel products from the People’s Republic of China in response to a request from steel companies ArcelorMittal USA, Nucor, U.S. Steel, AK […]
Barry Zekelman calls himself a free-trader. Yet his company, Zekelman Industries, filed a trade case last year alleging that Chinese producers of circular welded steel pipe were guilty of evading U.S. import duties. Espousing free trade while suing to block imports may seem like a contradiction, but Zekelman made a good case for his position […]
The U.S. Department of Commerce released Preliminary July import data as well as August license requests through the 29th of the month. The July Preliminary Census number has foreign steel imports as being 3,471,614 net tons. This is down from the June 3.9 million ton level. However, what continues to be concerning is the August […]
“Hurricane Harvey was an incredibly expensive, economy-changing event. The impact will be staggering,” said economist Chris Kuehl of Armada Corporate Intelligence, speaking at Steel Market Update’s Steel Summit Conference this week in Atlanta. Perhaps 10 percent of Houston’s population could be permanently displaced, creating a future labor shortage. “Companies may not get those workers back,” […]
Tomorrow, Monday, Aug. 28, the steel event of the year will kick off in Atlanta. With over 650 steel and manufacturing executives registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the Steel Market Update Steel Summit Conference. This is what the fuss […]
Driven by a steep drop-off in shipments from Brazil, U.S. steel imports fell 11.5 percent from June to July. Despite the monthly decline, the 3.47 million net tons of imports were still up 6.3 percent compared to July of last year, reports the American Institute for International Steel, Alexandria, Va. Imports from Brazil plunged more […]
Driven by a steep drop-off in shipments from Brazil, U.S. steel imports fell 11.5 percent from June to July. Despite the monthly decline, the 3.47 million net tons of imports were still up 6.3 percent compared to July of last year, reports the American Institute for International Steel, Alexandria, Va. Imports from Brazil plunged more […]
Senior steel executives representing most of the nation’s flat rolled and long product manufacturers appealed directly to Donald Trump on Wednesday urging action on the Section 232 steel imports case. The letter from 25 steel and steel-related companies asked the president to take “broad and decisive action to ensure the ability of the domestic steel […]
Manufacturers in the precision metalforming sector are not expecting much change in business conditions during the next three months, although orders are expected to trend slightly downward, according to the August 2017 Precision Metalforming Association (PMA) Business Conditions Report. Current average daily shipping levels dropped significantly in August with 28 percent reporting levels above those […]