The U.S. Department of Commerce advised Steel Market Update, as a member of the media, who would be speaking at tomorrow’s (Wednesday, May 24, 2017) Section 232 hearing on steel. The hearing is part of the Commerce Department’s investigation about the need for steel for national security. Here is what we received from the US […]
AISI, WASHINGTON, D.C. – The American Iron and Steel Institute’s (AISI) Board of Directors today elected John Ferriola, Chairman, President and CEO, Nucor Corporation, to serve another year as chairman of the Institute, through May 2018. “John is a recognized leader in the global and domestic steel industry. He is an outspoken advocate for the […]
I have been working day and night trying to get a list of the invited speakers for the Section 232 (national security) hearing at the U.S. Department of Commerce on the morning of Wednesday, May 24th. The US Department of Commerce came out with the list to the media late this afternoon. The hearings starts […]
Later this week the U.S. Department of Commerce will hold public hearings for interested parties to voice their opinions regarding the Section 232 (national security) inquiry into the steel industry. Many believe the conclusion of this investigation was predetermined at the time of the original announcement. In the Fact Sheet produced by the U.S. Department […]
Robert Lighthizer was confirmed as the new US Trade Representative by an 82-14 vote in the Senate on Thursday. Lighthizer faced some opposition from Republican Senators John McCain (Ariz.) and Ben Sasse (Neb.) who said they would vote against the Trump nominee because of his views concerning NAFTA and his alliance with the Administration’s protectionist […]
The domestic steel mills did not cancel scrap orders for April delivery that had not yet arrived. This is a sign that the steel mills believe prices will be sideways to slightly higher for May delivery than what they negotiated for April. All is quiet as the steel mills and their scrap suppliers jockey for […]
I have received a number of comments on the LinkedIn posts that I have put out there over the weekend. I shared our “Black Swan” article on my personal LinkedIn account as well as our Steel Market Update LinkedIn group account. I also received a question about the “average margin for a service center” that […]
There have been many press reports regarding the rumor that the Trump Administration is going to call for an “investigation” aimed at steel and aluminum. What our readers may find interesting is there are suggestions that the order may include manufactured products We have seen reports from the press and attorneys for steel service centers […]
When we began planning for our 2017 SMU Steel Summit Conference I was actually thinking that I would be able to drop the subject of trade and perhaps work on other issues of “more importance” by the time we reached the end of August 2017. Even with the CORE, hot rolled, cold rolled and cut-to-length […]
I had a couple of conversations earlier today regarding the status of trade and, in particular, whether or not there could be further trade cases filed by the domestic steel mills or by the U.S. Department of Commerce. At least one mill is hearing that there could be new trade cases. This could become an […]
Robert Lighthizer faces the Senate confirmation hearings today without the congressional waiver needed to take the post of U.S. Trade Representative. A waiver is required because of a provision prohibiting individuals who worked on behalf of foreign governments in trade negotiations with the United States from becoming the U.S. trade representative. Lighthizer’s work on behalf […]
Is it Buy American or not? That seems to be the question of the day. President Trump signed an executive order clearing the way for the construction of the Keystone XL and Dakota Access pipelines, adding in a memorandum to the Commerce Department that the steel pipe used in construction will have to be made […]
Wilbur Ross Jr. has been tapped by President-elect Donald Trump to serve as Commerce Secretary. Ross is a billionaire investor known as the “bankruptcy king.” Forbes estimates the Ross fortune at $2.9 billion made by buying and restructuring troubled companies. One of those companies was Donald Trump’s bankrupt casino in the 1990s. Ross was a […]
US Steel President and CEO Mario Longhi said he is encouraged by the affirmative determinations in the recent AD/CVD investigations of hot-rolled, cold-rolled and corrosion resistant steels. Said Longhi in a statement released following the ITC determination on hot-rolled steel: “It is clear that the International Trade Commission recognized the significance of this case to […]
The G20 group of nations released their thoughts regarding excess steel capacity and what they are doing to rectify the situation (essentially they are kicking the can to 2017 when they will meet again and hear from an OECD committee on the subject). China has promised to cut steel production by 45 million metric tons […]
Reaction to the US Department of Commerce (DOC) preliminary duties on cold-rolled steel has been mixed, depending on what side of the antidumping determination the commentators are on. In the UK, the steel sector is readying itself for further onslaught of Chinese exports while its own steel exports to the U.S. are assigned dumping margins […]
FORT WAYNE, Ind., Feb. 16, 2016 /PRNewswire/ — Steel Dynamics, Inc. (NASDAQ/GS: STLD) today announced the creation of three new leadership positions which will coincide with the retirement of Richard P. Teets, Jr., a co-founder of the company and its Executive Vice President of Steelmaking, and President and Chief Operating Officer of Steel Operations. Effective […]
The Trade Facilitation and Trade Enforcement Act of 2015 passed by a margin of 75-20 in the Senate this morning. The customs bill has been advocated by the steel industry to strengthen measures to combat unfairly traded and subsidized imports. The bill now moves to the President for anticipated approval and signature. The American Iron […]
Washington, D.C. – The Steel Manufacturers Association (SMA) Board of Directors today announced that Tracy Porter, Senior Vice President of Commercial Metals Company (CMC) and President of CMC Americas, was elected as Chairman of SMA’s Board of Directors for 2016-2017. In July 2010, Mr. Porter was appointed Senior Vice President of CMC and President of […]
The following is the Chicago Federal Reserve statement followed by our own graphical analysis. The CFNAI is an excellent reality check for much of the economic analysis that we routinely provide in The Steel Market Update and is also a reasonably good predictor of the direction of steel demand with a six to nine month […]
AISI and eight other steel associations met with government officials in Paris on December 1 to present arguments against granting China Market Economy status. The press release from AISI follows: PARIS – The American Iron and Steel Institute, the Steel Manufacturers Association, the Canadian Steel Producers Association, CANACERO (the Mexican steel association), Alacero (the Latin […]
(From AISI, Nov. 10, 2015) A report released today concludes that treating China as a market economy in antidumping investigations would “severely damage the NAFTA steel industries and harm NAFTA economies.” The study, comprised of three economic analyses, was conducted by leading economists from Capital Trade Incorporated in Washington, DC; the Centre for Spatial Economics […]
The American Iron and Steel Institute, the Steel Manufacturers Association, the Canadian Steel Producers Association, CANACERO (the Mexican steel association), Alacero (the Latin American steel association), EUROFER (the European steel association,) Instituto AcoBrasil (the Brazil Steel Institute), the Specialty Steel Industry of North American and the Committee on Pipe and Tube Imports today released a […]
The 2015 Association for Iron and Steel Technology Steelmaker of the Year Award was presented to Mario Longhi, president and chief executive officer of U.S. Steel Corp. at the AISTech 2015 conference in Cleveland, Ohio on May 5, 2015. The award recognizes the contributions of a prominent individual to the steel industry. Longhi was honored […]
Phillip Bell, President of the Steel Manufacturers Association (steel mills) told those assembled at the 26th annual Port of Tampa Steel Conference, “There is a growing consensus that something just isn’t right.” What he was referring to was the domestic steel mills running at 75 percent capacity utilization rates and the industry still suffering due […]
The “Buy America” plan for federally subsidized projects is problematic for two major U.S. steel mills owned by foreign companies. The push to use American sourced steel products in infrastructure projects is keeping NLMK USA and California Steel Industries (CSI) out of the running for bids on projects—a problem the companies are hoping to rectify […]
The “Buy America” plan for federally subsidized projects is problematic for two major U.S. steel mills owned by foreign companies. The push to use American sourced steel products in infrastructure projects is keeping NLMK USA and California Steel Industries (CSI) out of the running for bids on projects—a problem the companies are hoping to rectify […]
CHARLOTTE, N.C., Oct. 7, 2013 — Nucor Corporation NUE +0.08% announced that The Steel Manufacturers Association (SMA) presented Nucor’s Executive Chairman Dan DiMicco with its Iverson-Selig award, recognizing his outstanding contributions to the minimill steel industry. The award is named after Nucor’s founder Ken Iverson and Marvin Selig, founder of CMC Steel, who were two […]
The Steel Manufacturers Association (SMA) Board of Directors announced the election of Philip K. Bell as SMA President. Bell is currently Director of External Communications and Public Affairs for Gerdau Long Steel North America. He will assume his new role at SMA on November 1, 2013. Current SMA President Thomas Danjczek will retire after 15 […]
U.S. steel industry members are challenging proposed changes to Federal Highway Administration (FHWA) Buy America laws that will affect manufactured products, ferry boat equipment, and pig iron and processed, pelletized, and reduced iron ores. The FHWA sought comments from the public regarding the continued, need, in whole or part for the general waivers on […]