Tag: Imports

In 2021, the US and EU called a timeout on their disputes about the US “national security” steel and aluminum tariffs and the resulting retaliatory measures by the EU.

With the latest announcement between India and the US easing Section 232 duties, it is clear the duties, initiated in 2018, are under review. Now that five years have passed, a good amount of data has been gathered to analyze the effects of the policy. Judging from each scheduled review of the economic effects of […]

With the latest announcement between India and the US easing Section 232 duties, it is clear the duties, initiated in 2018, are under review. Now that five years have passed, a good amount of data has been gathered to analyze the effects of the policy. Judging from each scheduled review of the economic effects of the policy resulting in its continuation, it is clear that it has had a positive impact on parts of the industry. However, there are also a handful of knock-on effects that have become apparent.

Movements in lead times were mixed this week, with those for hot rolled and Galvalume falling back marginally, and those for cold rolled, galvanized, and plate extending slightly. We’re still waiting for a clear pattern to emerge with lead times, as they seem to have been bouncing around since June and generally trending down since […]

Steel buyers report that mills are willing to negotiate lower spot prices for the sheet products SMU surveys.

The US hot-rolled coil (HRC) premium over offshore product declined this past week, as prices abroad moved up while domestic tags declined, according to SMU's latest foreign vs. domestic price analysis.

The US hot-rolled coil (HRC) premium over offshore product declined this past week, as prices abroad moved up while domestic tags declined, according to SMU’s latest foreign vs. domestic price analysis. HRC tags stateside declined $20 per ton vs. the prior week, slipping to their lowest level since mid-February. Domestic prices are now down $290 […]

Steel buyers report that mills are willing to negotiate lower spot prices for the sheet products SMU surveys. It’s a different story in plate, where buyers find mills less willing to negotiate lower, according to SMU’s most recent survey data.  The percentage of respondents saying steel mills were willing to talk price on plate stood at 29% this […]

Antidumping and countervailing duties on imports of steel wire rod from a handful of countries will remain in place for another five years.

Steel Dynamics Inc. (SDI) posted lower year-over-year second quarter profits but said demand “remains solid” across the automotive, construction, industrial, and energy sectors. The Fort Wayne, Ind.-based steelmaker also predicted that steel prices might find support thanks to what it described as low customer inventories. “We remain confident that market conditions are in place for […]

Antidumping and countervailing duties on imports of steel wire rod from a handful of countries will remain in place for another five years. The US International Trade Commission (ITC) made its final decision in an expedited sunset review of the AD duties on wire rod from Belarus, Italy, Russia, South Africa, South Korea, Spain, Turkey, […]

 The US Federal Reserve said that overall economic activity has inched up since May in its latest Beige Book Report released on July 12. The Beige Book is a compilation of information on current economic conditions, gathered by each district Federal Reserve Bank, and is published eight times per year. The newest report by the Fed on the state […]

 The US Federal Reserve said that overall economic activity has inched up since May in its latest Beige Book Report released on July 12. The Beige Book is a compilation of information on current economic conditions, gathered by each district Federal Reserve Bank, and is published eight times per year. The newest report by the Fed on the state […]

Steel prices continued to erode in June, a trend that began halfway through April. Hot-rolled coil (HRC) prices ended June at $875 per ton (43.75 per cwt) on average, falling by $115 per ton throughout the month. The SMU Price Momentum Indicator for sheet products remained shifted to Neutral halfway through June, after turning Lower […]

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, import offers, and inventory. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your thoughts, too! Contact david@steelmarketupdate.com to be included in […]

The US hot-rolled coil (HRC) premium over offshore product has changed little over the past few weeks, as both prices abroad and stateside have inched up in tandem recently, according to SMU’s latest foreign vs. domestic price analysis. HRC tags stateside are still down $280 per ton since peaking at $1,160 per ton back in […]

I’d halfway expected to see hot-rolled coil prices come down this week. A few of you made the case for price declines. The logic: softer demand meeting increased domestic supply and higher import volumes. Some of you also noted that lead times, while not bad, were hardly strong enough to support another round of price […]

US steel imports climbed in June to the highest monthly level over the past 12 months, based on June import license data compiled by the US Department of Commerce. Import license applications reached 2,803,597 net tons in June, according to Commerce’s license count as of July 5. This was a 20.7% spike from the month […]

US Trade Representative Katherine Tai met on Thursday in Cancun, Mexico, with Mexico’s Secretary of Economy, Raquel Buenrostro, where the two discussed confronting steel imports, among other issues. In a press release, the USTR said she spoke with Secretary Buenrostro regarding “the importance of addressing the recent surge of imports of steel and aluminum products, and […]

Lead times were broadly stable this week, with sheet products rising modestly and plate unchanged from SMU’s market check two weeks ago. More meaningful movements in lead times should be seen in the coming weeks as buyers return to the market after the Fourth of July holiday. Should the mills’ recent sheet price hikes take […]

The US manufacturing sector receded for the eighth consecutive month in June, according to the latest monthly report on business from the Institute for Supply Management (ISM). The ISM’s manufacturing PMI was 46% in June, 0.9% lower than May. The reading marks the seventh month of contraction following a 30-month period of expansion in the […]

SMU will be celebrating Independence Day along with the rest of you, so we won’t have an issue on Tuesday, July 4. I’ve highlighted three things to think about in the meantime whether you’re traveling to visit friends and family, stocking up on fireworks, or planning a quiet BBQ. Have Prices Found a Floor? We’ve […]

Occasionally, a story jolts you awake. You realize how much things have changed—once, a pro-trade remark from a senior government official was routine. Now, it is remarkable. Last week the President’s Export Council (PEC), an advisory group currently chaired by Mark Ein of Kastle Systems, met for the first time since the Obama administration. The […]

With the US aluminum industry at a critical juncture, a new report is highlighting ways the Biden administration can use the Global Arrangement for Sustainable Steel and Aluminum (GASSA) to help the struggling domestic industry. Recall CRU’s aluminum analysts have previously shared with SMU the nightmare US aluminum smelters have been facing when it comes […]

US hot-rolled coil (HRC) remains at a premium to offshore product, even as recent price declines have brought domestic hot band to its lowest mark since mid-February, according to SMU’s latest foreign vs. domestic price analysis. HRC tags stateside are down $285 per ton since peaking at $1,160 per ton back in mid-April, and are […]

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, and import offers. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your thoughts, too! Contact david@steelmarketupdate.com to be included in our […]

Our HRC price is flat this week, and there is a roughly 50/50 split between those who think the $50-per-ton sheet price hikes announced earlier this month will stick and those who think they won’t. I’m not going to weigh in on which side could be right. But it doesn’t appear to have fazed domestic mills, […]

In May’s preliminary count, total US steel imports came in below import licenses tallied for the month. At the same time, however, flat-rolled steel imports came in higher than licenses originally suggested, according to the latest data from the International Trade Administration’s (ITA’s) steel import monitor. SMU’s previous analysis of May import data showed 2,395,039 […]

The Leveling the Playing Field 2.0 Act introduced into Congress earlier this month is aimed at modernizing our trade laws for the 21st century, making sure they are strong and enforceable, according to Washington-based law firm Wiley Rein’s Tim Brightbill.  Brightbill, partner and co-chair of the firm’s International Trade Practice, recently sat down with SMU to discuss […]

A rare state visit by Prime Minister Narendra Modi of India culminated in a joint statement by President Biden and the prime minister last Thursday. This was a blockbuster statement, covering 58 paragraphs and resolving or narrowing differences on a host of issues. Some disputes had been festering for years. Despite pre-meeting statements advising that […]