This week’s SMU comparison of foreign and domestic hot rolled prices shows that U.S prices remain advantageous over foreign imports, albeit slightly less so than late-April figures, according to SMU and CRU indices. The price gap between domestic HRC compared to German and Italian imports remains over $100 per ton, as has been the case […]
U.S apparent steel supply rose to 8.66 million net tons in March, according to recent U.S. Department of Commerce and American Iron and Steel Institute data. Although up over the previous month, March supply remains on the low-side historically and is the fourth lowest supply level seen in the past three years. Apparent steel supply, […]
Tenaris announced it will reduce the workforce at its Bay City tubular mill by 200 employees. “We have an unexpected combination of events straining U.S. and global markets—a drastic drop in demand caused by the pandemic and an oversupply triggered by the price war between Russia and Saudi Arabia. In these stark conditions, we must […]
If there is one thing you can count on with the steel industry, it’s for rumors to begin flying as soon as the mills appear to have seized pricing momentum. The domestic steel mills, led by ArcelorMittal USA, began announcing price increases the week ending May 1. The announcements ranged from $50 to $60 per […]
If there is one thing you can count on with the steel industry, it’s for rumors to begin flying as soon as the mills appear to have seized pricing momentum. The domestic steel mills, led by ArcelorMittal USA, began announcing price increases the week ending May 1. The announcements ranged from $50 to $60 per […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Long Products Monitor U.S. domestic long product prices were forced lower across the board as demand weakness caused by the Covid-19 pandemic combined with a substantial m/m decline in scrap prices. Construction activity in many states was either curtailed or prohibited entirely as local governments took measures […]
Recently updated license data shows final March steel imports totaling 1.75 million net tons, according to the U.S. Department of Commerce. This is just 1,400 tons over the preliminary March import figures reported last week. Unchanged over what SMU published last week, finished imports in March were 1.5 million tons, up 12 percent over the […]
The Department of Commerce will self-initiate a Section 232 investigation into whether laminations for stacked transformer cores, stacked and wound transformer cores, electrical transformers and transformer regulators are being imported into the United States in such quantities or under such circumstances as to threaten or impair national security. The laminates for transformers are made of […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: First, to all you moms out there, this is your day. You deserve a lot more just like it. Happy Mother’s Day! Like most of you, I am trying to make sense of the world during the pandemic; […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: It’s hard to blame Roberto Azevedo for quitting. The Director General (Chief Executive) of the World Trade Organization is leaving in September, one year before his term runs out. The WTO is in turmoil because of U.S. hostility […]
The ISM Report on Business dropped 7.6 percentage points to a PMI reading of 41.5 in April, indicating a sharp contraction of economic activity in the manufacturing sector. Additionally, the overall economy contracted for the first time in 131 consecutive months. “Comments from the panel were strongly negative (three negative comments for every one positive […]
This week’s SMU comparison of foreign and domestic hot rolled prices shows that U.S prices are becoming even more advantageous over foreign imports, according to SMU and CRU indices. The price gap between domestic HRC compared to German and Italian products has widened significantly over the past few months, and the East/Southeast Asian price spread […]
Thyssenkrupp Materials NA, Inc., Southfield, Mich., has filed suit challenging the constitutionality of the Trump administration’s Section 232 tariffs. The North American distribution arm of Germany’s Thyssenkrupp, TKMNA is an importer of steel and aluminum. The complaint, filed April 21 with the U.S. Court of International Trade, alleges that the Commerce Department has granted exclusions […]
Preliminary steel import license data was updated late last week, pegging March at 1.75 million net tons of total steel imports, according to the U.S. Department of Commerce. The preliminary March data shows finished imports at 1.5 million tons, up roughly 12 percent over the previous month. Nearly 230,000 tons of semi-finished product imports are […]
SMU Contributor David Feldstein is president of Rock Trading Advisors (davidfeldstein@rocktradingadvisors.com). In addition to market analysis, RTA provides price risk management not only for ferrous products, but also base metals, energy and interest rates. RTA also trains sales staff and creates the infrastructure necessary for firms to offer their customers fixed pricing on physical sales. […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: I hope everyone had a peaceful and, above all, safe Easter and Passover holiday. If I missed any other celebrations over the last two weeks, I hope you will accept my apology and let me know about them. […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: The World Trade Organization (WTO) is in the news a lot lately. I’ve followed the WTO for a long time, and I’ve had several cases there (dispute settlement). Recently, I have been asked about the future of the […]
This week’s SMU comparison of foreign and domestic hot rolled prices shows that U.S prices continue to remain advantageous over foreign imports, even further so than two weeks ago, according to SMU and CRU indices. The price gap between domestic HRC compared to German and Italian products has widened significantly over the past few weeks, […]
By CRU Senior Analyst Helen O’Cleary, from CRU’s Zinc Monitor As the Chinese market gradually emerges from its Covid-19 lockdown and businesses and individuals start to return to normal, acute outbreaks of the virus across the world mean that many countries are still operating under severe restrictions. Even as China attempts to reinvigorate domestic demand, […]
By CRU Research Analyst Eduardo Tinti, from CRU’s Iron Ore Market Outlook Despite some volatility driven by divergent signs related to supply and demand expectations, iron ore prices were flat w/w. On Tuesday, April 21, the 62% Fe fines price was assessed at $86.0 /t. Last week, Chinese steel demand was robust as the country […]
Premium subscribers to Steel Market Update have reports available on our website that break out the import tonnage into district of entry and source nation for six sheet and plate product categories. This report takes the total national tonnage of hot rolled and breaks it down into product detail. Using U.S. International Trade Commission (USITC) […]
Using International Trade Commission (USITC) data, Steel Market Update has taken the import tonnage of cold rolled sheet and broken it down into coil and leveled, into four thickness ranges, and identifies how much was full hard, annealed and high strength. This update examines the total cold rolled sheet and strip imports into the U.S. […]
The analysis breaks down the imported tonnage of six flat rolled products into the district of entry and the source nation. We believe that misinformation (or lack of) about local import volume is often used to influence purchase decisions. Our intent with this analysis is to describe in detail what is going on in a […]
The U.S. dollar strengthened against 14 of the 16 steel and raw materials trading nation currencies in the last three months and also in the last month. There was a turnaround in the last seven days when the dollar weakened against 14 of the 16. In the last three months, the currencies of Brazil, Mexico, […]
Steel Market Update is please to share this Premium content with Executive members. For information on how to upgrade to a Premium subscription, email Info@SteelMarketUpdate.com. Total rolled product imports in March were down by 25.6 percent on a three-month moving average (3MMA) basis year over year. This was the fifth consecutive month where imports were […]
Total rolled product imports in April were down by 26.3 percent year over year on a three-month moving average (3MMA) basis. This was the sixth consecutive month where imports declined by more than 20 percent compared to the same month last year. This early look at April’s import volume is based on Commerce Department license […]
February apparent U.S. steel supply slipped to 8.5 million net tons, according to data from the American Iron and Steel Institute and U.S. Department of Commerce. Recall that January apparent supply saw a drastic jump over December and was quite high compared to the last few years. The latest data shows suppy has fallen back […]
Final February steel import license data was released this week, ending the month at 1.5 million net tons of total steel imports, according to the U.S. Department of Commerce. This is the lowest monthly import level seen since December 2009 when final imports were at 1.4 million tons. OCTG imports have not been this low […]
By CRU Senior Cost Analyst Ross Cunningham, from CRU’s Steel Monitor Covid-19 has spread across the world at alarming rates. As of March 28, the pandemic has reached 177 countries and shows little sign of letting up. When fighting a global health and economic crisis unlike anything ever seen before, there will be no winners—only […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: It’s unusual for a business to die from only one cause, just like it’s unusual for a person to die from only one cause. There is usually an underlying condition that made the business, or the person, vulnerable […]