Steel Market Update asked: With steel imports dropping and domestic mills running close to capacity, are you concerned about where steel prices may go over the next few months? Surprisingly, nearly two out of three respondents to SMU’s market trends questionnaire earlier this week said they are unconcerned about a big swing in prices. Their […]
Bank of America Merrill Lynch predicts that billions in capital investments by domestic steelmakers over the next few years, adding more than 20 million tons of new capacity to the market, will cause a glut of supply that proves disastrous for steel prices—a phenomenon they have dubbed “Steelmageddon.” Steel Market Update canvassed the market this […]
The following article on the hot rolled coil (HRC) futures market was written by David Feldstein. As the Flack Global Metals Chief Market Risk Officer, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
Toyota hopes to prevent becoming a victim of auto tariffs by investing in its U.S. operations. The company has increased its 2017 pledge to invest $10 billion by 2021 to a new target of $13 billion. Toyota’s announcement last week includes $750 million for capacity increases and building expansions at Toyota’s plants in Huntsville, Ala., […]
An antidumping/countervailing duty investigation will continue on imports of fabricated structural steel from Canada, China and Mexico following a decision by the U.S. International Trade Commission. The USITC has determined that there is reasonable indication the U.S. industry is being materially injured by imports of fabricated structural steel from Canada, China, and Mexico that are […]
Each month, Steel Market Update produces an import analysis by region for two of the six flat rolled product groups (HRC, CRC, HDG, OMC, CTL plate and coiled plate). This month we are focusing on plate products. The intent of these regional updates is to bridge the gap between our monthly license data summaries and […]
Each month, Steel Market Update produces an import analysis by region for two of the six flat rolled product groups (HRC, CRC, HDG, OMC, cut to length (CTL) plate and coiled plate). This month we are focusing on plate products. The intent of these regional updates is to bridge the gap between our monthly license […]
This report examines the import share of sheet, plate, long and tubular products and 16 subcategories through December. Table 1 shows total supply to the market in three months through December and in 12 months through December for the four product groups and the 16 subcategories. Supply to the market is the total of domestic […]
U.S. tariffs on imports of steel, aluminum and Chinese goods have “an unmistakable negative impact” on the economy, says a new report from IHS Markit. The report, “The Economic and Industry Impact of Protectionism Tariffs on the Off-highway Equipment Sector,” estimates that Section 232 and Section 301 tariffs will result in an average GDP loss […]
It has been a year since President Trump imposed 25 percent tariffs on steel imports under Section 232, and The Wall Street Journal asked in its Sunday editorial: “How are those steel tariffs working”? The American Institute for International Steel, currently embroiled in a constitutional challenge to the use of Section 232 to regulate imports […]
As the market waits anxiously to see if President Trump gives in to the international pressure to rethink his national security tariff on steel imports, it’s clear that steel fabricators are not big fans of Section 232. Speaking at the Fabricators & Manufacturers Association annual meeting March 5 in Nashville, panelists’ comments reflected the divisive […]
Are steel prices witnessing a dead cat bounce or the beginning of a bullish reversal? The market appears split on the feline vs. bovine analogy. In other words, there is a huge divergence of thought on what is going to happen to steel prices over the next three or four months. The benchmark price of […]
Steel market conditions and steel prices could be good for the next 18-24 months, but after that comes an unavoidable downturn that metals and mining analyst Timna Tanners has dubbed “Steelmageddon.” In fact, her company, Bank of America Merrill Lynch, has trademarked the term. Speaking at the S&P Global Platts North America Steel Conference March […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: Steel and aluminum tariffs are plainly on the table as part of the USMCA approval strategy. Canada and Mexico insist on the removal of the tariffs as part of ratification of the new “NAFTA 2.0.” U.S. Trade Representative […]
By CRU Group’s Zinc Analysis Team Zinc’s price on the LME tracked copper and nickel sharply lower on March 8 as data showed a steep fall in overall Chinese exports in February. Even though January and February data from China can be misleading due to the New Year holiday, the contraction in export volumes rattled […]
Steel Market Update is sharing the following Premium-level content on flat rolled imports with Executive-level members. For more information about upgrading to a Premium-level subscription, contact info@steelmarketupdate.com. Finally, the detailed steel trade data has been released for December. Again, we apologize for our lack of trade reports in the last few months. August was the […]
This is a report that we provided monthly through August 2018 data. The USITC then revamped their DataWeb and the new version didn’t work. Our SMU staff worked with the USITC to fix the problem, then the government shut down. The March 2019 data is the first available that has been released on time since […]
Total foreign steel imports are on the decline as license data from the U.S. Department of Commerce has February imports at 2.5 million net tons. Based on license data through March 12, it appears March imports will also be in that same vicinity. To put this into perspective, imports for February 2018 were 2,478,000 net […]
Total foreign steel imports are on the decline as license data from the U.S. Department of Commerce has February imports at 2.5 million net tons. Based on license data through March 12, it appears March imports will also be in that same vicinity. To put this into perspective, imports for February 2018 were 2,478,000 net […]
Steel imports are trending up in March as license data from the U.S. Department of Commerce shows total imports tracking towards 2.9 million net tons–above the 3-month and 12-month moving averages. Based on license data through March 19, both finished and semifinished steels (mostly slabs purchased by domestic mills) are up significantly over February levels. […]
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel Interestingly, this month the hot rolled spot price has been edging higher on the back of the latest mill price increase […]
December apparent steel supply was calculated at 8,971,570 net tons, according to data released late last week. Apparent steel supply is determined by adding domestic steel shipments and finished U.S. steel imports, then subtracting total U.S. steel exports. December apparent steel supply saw a 469,929 ton or 5.5 percent increase compared to the same month […]
There are reports about a myriad of meetings between the USTR, Mexico and Canada as the sides try to come to some form of resolution regarding the Section 232 tariffs on steel and aluminum. I continue to hear that the move is to not reduce the traditional level of imports from these two countries. In […]
U.S. steel exports in December totaled 519,099 net tons (470,919 metric tons), down 15.7 percent from November, and down 31.0 percent from levels one year ago. The last time total steel exports were this low was over 16 years ago, back in July 2002, when 504,621 tons of steel were exported outside of the United […]
Members of the Heating, Air-conditioning and Refrigeration Distributors International, wholesalers of galvanized sheet and coil products, reported steady and strong demand in the HVAC market so far in 2019, but also growing concern about the direction of steel prices. One HARDI member on the trade group’s monthly conference call today described conditions as “somewhat fragile.” The […]
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 categories. SMU has now developed reports that drill down the HRC and CRC into product detail both nationally and for each district. Using U.S. International […]
Premium subscribers to Steel Market Update receive reports on imports broken down into district of entry and source nation. This drill down report takes the regional analysis to the level of product detail. Our intent is to report this drill down for CR sheet in the rationale that the finer the detail steel buyers have […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: President Trump may be forced to concede some ground on his Section 232 tariffs in order to get legislators in Canada and Mexico to sign off on the new North American trade agreement. One option the administration reportedly […]
We live in a time when nothing is as it seems and uncertainty rules the roost. This can make for a daunting task when considering when, what and how much steel you need to purchase at any point in time. It appears the second price increase announcement out of Nucor moved some of the end […]
We live in a time when nothing is as it seems and uncertainty rules the roost. This can make for a daunting task when considering when, what and how much steel you need to purchase at any point in time. It appears the second price increase announcement out of Nucor moved some of the end […]