Tag: Imports

Mill lead times for flat-rolled products pushed out this week once again across the board.

US apparent supply increased to 8.65 million net tons in August, up 5% compared to 8.24 million tons July, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI).  Apparent steel supply is determined by combining domestic steel mill shipments and finished US steel imports, then deducting total […]

South Korea and Brazil will not be maxing out their allowable quotas on hot-rolled sheet shipments to the US for 2023, according to government data analyzed by SMU.

Electricity demand worldwide is growing significantly, requiring massive investments in the electric grid to supply increased needs and desire for electricity. A recent report by the International Energy Agency (IEA) indicates that global demand for electricity will double from 2020 to 2050. In developed economies, the growth rate will be somewhat lower. But it will […]

After a meeting Friday at the White House, the EU and US issued a joint statement noting no concrete movement towards a Global Arrangement on Sustainable Steel and Aluminum.

US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, the UAW strike, and what people were talking about in the market.

The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at steelmarketupdate.com, visit the Pricing and Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” Historical survey results are also available under that selection. If you need help accessing the survey results, […]

The pig iron trade is an important element to the US steel and foundry industry.

The US Department of Commerce’s International Trade Administration (ITA) is updating the antidumping and countervailing duties (AD/CVD) on cold-rolled steel imports from South Korea.

SMU's Current Steel Buyers Sentiment Index edged down this week while the future index remained flat, based on our most recent survey data.

The sheet market appears poised for a rebound if you’re looking at the indicators we typically track.

With solid demand and attractive margins, the North American market has been helping to prop up CMC’s results as its European operations struggle with weaker demand amid challenging market conditions.

US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.

The US Department of Commerce has issued its final ruling in an expedited sunset review of antidumping duties on imports of tin mill products from Japan.

The US and European Union will continue trade talks on Friday, Oct. 20, according to a statement from the European Council.

The 2023 term continues a series of very eventful Supreme Court sessions, similarly to 2021 and 2022 terms.

A slowdown in US steel imports has yet to be seen, as total import licenses in September were about even with August’s import levels.

The LME aluminum three-month price was broadly unchanged on Friday morning, Oct. 6, and was last seen trading at $2,243 per ton. Due to the Mid-Autumn Festival and National Day celebrations, the SHFE is closed for holidays from Sept. 29 to Oct. 6. According to a report from Bloomberg, leaders from the EU and the […]

The US steel market appears to have gone from despairing over the possibility of spot HRC prices slipping into the $500s per ton to worrying about spot availability – and in just a matter of 2-3 weeks.

US hot-rolled coil (HRC) and offshore product are nearing parity again after domestic prices moved higher this week and imports declined again.

Water levels on the Mississippi River continue to drop due to a lack of rain. This could potentially disrupt the steel supply chain should the low levels persist.

US plate prices have been relatively flat this year, especially when compared to sheet products. Case in point; SMU's plate prices stands at $1,455 per ton ($72.75 per cwt) on average, down 7% from a $1,560 per ton peak in April. Our HRC price is at $645 per ton, down 44% from an April peak of $1,160 per ton.

Last week the World Trade Organization (WTO) held its periodic retreat for members to discuss the future of the organization.

ArcelorMittal said it expects to produce less steel than previously forecast in Brazil. Gerdau has hinted at potential layoffs as imports surge. The Brazil Steel Institute is asking the government to raise import levies to 25% from the existing 9.6%. Meanwhile, Mexico has applied levies to some steel imports.

The latest SMU Market Survey results are now available on our website to all Premium members.

I didn’t see the Cleveland-Cliffs price increase coming on Wednesday. And I didn’t expect to see a target base price of $750 per ton ($37.50 per cwt) for hot-rolled coil. But I’ve since heard that other mills, even if they hadn’t publicly announced anything, had been quietly raising prices before Cliffs publicized its increase. Are […]

US hot-rolled coil (HRC) prices were down again vs. offshore hot band this week. Domestic HRC lost more ground relative to imported product with US tags sinking at a faster rate than those overseas.

Cleveland-Cliffs is increasing its sheet tags, setting a new base price for hot-rolled coil, effective immediately, the company said in a press release on Wednesday, Sept. 27.

The drop in imports continued for the second straight month, in line with license applications and falling lower year on year (YoY).