The US Treasury Department and Internal Revenue Service (IRS) announced on Dec. 14 proposed regulations for aluminum production under the Inflation Reduction Act (IRA). According to irs.gov, Section 45X of the Internal Revenue Code (IRC) “provides a credit for the production (within the US) and sale of certain eligible components including solar and wind energy […]
The number of open construction jobs reached a record high in October as workforce shortages persist, the Associated General Contractors of America (AGC) reported.
The US presidential elections will take place on Nov. 5, 2024.
October saw domestic heating and cooling equipment shipments drop for a second consecutive month, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).
The 2024 Tampa Steel Conference is less than two months away. It is one of the premier domestic steel conferences and a great compliment to our record-breaking SMU Steel Summit this past August.
TimkenSteel has begun utilizing AI software from Worlds to gain insight into its steel manufacturing processes.
Activity in the US manufacturing sector contracted once again in November.
A coalition of manufacturers, retailers, and stakeholders stands opposed to the imposition of import duties on tin mill products.
Oct. 26 was my previous Steel Market Update contribution. The night before, Ford and the United Auto Workers (UAW) announced they had reached a tentative agreement for a new labor contract.
Optimism is on the rise among metalformers who expect less volatility in economic activity in the coming months, according to the November business report from the Precision Metalforming Association (PMA).
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, […]
A year after signing purchase agreements with two US steelmakers, Trane Technologies has shipped more than 1 million HVAC units produced with low-carbon steel.
Galvanized steel buyers reported a seller's market with steady demand, long lead times, and strong pricing on this month’s call of the Sheet Metal/Air Handling Council of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association.
Nucor Corp. has announced a $280-million investment to modernize its plate mill in Tuscaloosa, Ala.
New York's manufacturing activity saw an increase in November, according to the most recent Empire State Manufacturing Survey.
We’re just 12 weeks from Tampa Steel Conference 2024, one of the premier North American steel community events.
Nucor Corp. has announced its target date for net-zero greenhouse gas (GHG) emissions as 2050.
SSAB Americas will supply its low-carbon SSAB Zero steel to GE Vernova Onshore Wind for wind towers in North America.
The historically significant Sparrows Points steel mill site in Baltimore is set to live another life as a wind turbine factory under the name “Sparrows Point Steel.”
Center for Automotive Research (CAR) president and CEO Alan Amici will be the featured speaker on Steel Market Update’s next Community Chat webinar on Wednesday, Nov. 15, at 12 p.m. ET. You can register here.
Declining demand and a challenging economic environment impacted Gerdau’s shipments in North America during the third quarter.
GrafTech International reported a bumpy third quarter. But despite the challenges, the company said it's certain that improvement is on the horizon.
The American steel industry is the backbone of the US economy and produces the cleanest steel in the world.
It’s time to register for the Tampa Steel Conference 2024, easily one of the premiere North American steel events. It’s a can't-miss steel industry conference, especially following the record-breaking attendance at SMU’s Steel Summit 2023 this past August.
Northwest Pipe reported declining third-quarter earnings but remains upbeat about its fourth-quarter performance.
Arkansas-based metals processor Boyd Metals, is expanding its footprint at its Little Rock, Ark., facility.
Klöckner & Co. said it has agreed to acquire South Carolina-based fabricator Industrial Manufacturing Services (IMS) through US subsidiary Kloeckner Metals Corp.(KMC).
Manufacturing activity in the US contracted once again during the month of October.
The “Big Three” Detroit-area automakers' tentative labor agreements are set to expire on April 30, 2028, six months longer than the normal four-year agreements.
SMU will host a Community Chat on Wednesday Nov. 15 at 12 pm ET with Alan Amici, president and CEO of the Center for Automotive Research (CAR). The webinar is free for all to attend live. A recording will be available to SMU subscribers. You can register here.