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 […]
Today, 25 steel mills and related companies, as well as the American Iron and Steel Institute (AISI) and Steel Manufacturers Association (SMA), sent a letter to President Trump asking that he act on Section 232 and stop foreign steel from damaging the domestic steel industry. According to the letter, 30 percent of the apparent supply […]
I am now in Atlanta and the workload and my focus, and that of Ray Culley, Brett Linton and Diana, are all on organizing every minute of the SMU Steel Market Update program, which begins at 2 PM ET on Monday. There are always a few hiccups along the way… something to make your day […]
How can domestic mills expect to increase prices when their lead times are so short and foreign steel is still so plentiful? In the monthly steel conference call hosted today by the Heating, Air-conditioning, and Refrigeration Distributors International, HARDI members commented on the contradictions in mill behavior that have left them confused and concerned about […]
U.S. Steel’s Section 337 allegations of trans-shipment of Chinese steel products are being challenged by seven Chinese steel mills. U.S. Steel alleges that respondents in the case are misrepresenting country of origin in steel shipments in order to elude antidumping and countervailing duties. Baosteel Group, HeSteel Group, Masteel Group, Shougang Steel Group, Shagang Steel Group, […]
BlueScope Steel, the parent of North Star BlueScope, will have a change in command. Mark Vassella has been appointed the new managing director and chief executive officer following retirement by outgoing CEO Paul O’Malley effective Dec. 31, 2017. O’Malley has been at the helm of BlueScope Steel the past 10 years of his 12-year tenure. […]
During the week of Aug. 14, 2017, the U.S. steel mills advised their flat rolled and steel plate customers of their intention to increase spot prices on hot rolled, cold rolled, galvanized and Galvalume steels, as well as plate. The flat rolled mills announced $30 per ton base price increases on new spot business. For […]
No one was surprised when major U.S. steel mills announced a $30 per ton price hike on flat rolled and plate this week. The price hikes were widely expected. But a majority (58 percent) of respondents to SMU’s latest flat roll market trends questionnaire will be surprised if the higher prices stick. Some predict the […]
Despite the ongoing delay in Washington, six of 10 respondents to SMU’s latest flat roll market trends questionnaire believe the Trump administration will eventually put new restrictions on foreign steel imports based on Section 232 national security concerns. Even more, 74 percent, believe the slowdown in the Section 232 decision is opening the door to […]
Steel Market Update (SMU) is releasing our SMU Steel Buyers Sentiment Index for mid-August. 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 months into the future. Overall, our Indexes remains optimistic. However, […]
The U.S. Department of Commerce released the latest license data for foreign steel imports for the month of August. Beginning in March 2017, imports have exceeded 3.0 million tons, perhaps peaking in June at just shy of 4.0 million tons. The expectation has been for import levels to drop due to concerns about the Section […]
Trade actions are moving ahead in the Section 337 case against Chinese steel producers. Sanctions have been placed on two of seven Chinese respondents by Administrative Law Judge Dee Lord for failure to produce documentation necessary to investigate transshipment charges brought by U.S. Steel. On June 28, 2017, U.S. Steel filed a motion for sanctions […]
Like in the United States, steelmakers in the European Union are using their trade laws to fight back against steel imports that are unfairly subsidized by the governments in China and other countries. On Aug. 9, the European Union imposed provisional import duties of up to 28.5 percent on certain Chinese corrosion-resistant steels. The eight-month […]
Like in the United States, steelmakers in the European Union are using their trade laws to fight back against steel imports that are unfairly subsidized by the governments in China and other countries. On Aug. 9, the European Union imposed provisional import duties of up to 28.5 percent on certain Chinese corrosion-resistant steels. The eight-month […]