South Korean conglomerate Posco, which has expanded far beyond its original steel making activities, is to concentrate on expanding in business areas which support industrial security and supply chain resilience, Posco Chairman Chang In-hwa said.
The Chicago Business Barometer decreased by 6.0 points to 56.7 in June.
As the US enters negotiations and possible annual reviews of the USMCA, policymakers should preserve the S232 tariffs, which have clearly been necessary to protect the US steel industry.
The US HRC futures curve has continued to move higher, particularly in the deferred months, suggesting the market is pricing a slower return to balance.
May was the fifth consecutive month of expansion for the US manufacturing sector, according to the most recent Institute for Supply Management (ISM) report.
SMU’s Mill Order Index recovered in May, reclaiming some momentum lost the month prior.
The United States has repeatedly called for stronger action to protect North American manufacturing. Canadian steel agrees. We are ready to do the work necessary. Now Washington must remove the tariffs that stand in the way.
Gregg Troian, industry veteran and president of both PGT Trucking and the Board of Directors at the American Transportation Research Institute, cautions that the trucking industry continues to face mounting obstacles.
Global output will remain broadly flat this year, with further downgrades in Europe due to ongoing costs, regulatory, and competitive pressures, as well as a weaker economic outlook and rising inflationary pressures.
There is increasing evidence that the current La Niña weather phenomenon is coming to an end, and that we are quickly moving into an El Niño cycle already in the next few months.
The May Business Conditions Report issued by the Precision Metalforming Association (PMA) found metalforming manufacturers anticipate stable market conditions for the next three months.
SMU’s Mill Order Index (MOI) eased marginally in April, losing some momentum after moving higher in March.
Sources told SMU they’ve begun considering whether US imports of sheet might benefit the overall market.
Global shipping volatility is tightening its grip on steel supply chains. And the risks are not easing; in fact, they’re escalating, according to Anton Posner, CEO of Mercury Resources.
The Iran war and the blockade of the Strait of Hormuz have sent oil and aluminum prices soaring higher. The impact on steel has been mostly indirect but hardly insignificant – especially when it comes to the costs of moving metal.
The process to reduce Section 232 steel and aluminum tariffs for producers in Mexico and Canada garnered mixed reactions from steel and metals’ supply chain advocacy groups.
A panel of steel executives said bolstering trade also protects it from the Iran war and other geopolitical risks.
SMU’s Mill Order Index (MOI) recovered in March, gaining some momentum after a marginal decline in February.
It's cliche to say it. But spring traditionally brings new hope and green shoots—whether that's looking forward to vacations or increased business activity. While I viscerally share these positive feelings, I can’t help but thinking of three areas where I'm not feeling very hopeful. Namely, the US electrical grid, the national debt, and the Iran war.
I attended the SAFE Summit in Washington, D.C., earlier this week. It was an out-of-this world event – and I mean that quite literally. There were serious discussions around building data centers in space.
Anton Posner, CEO of Mercury Resources, will join Steel Market Update (SMU) and Aluminum Market Update (AMU) for a Community Chat on Thursday, May 14, at 11 am ET.
Last week, Steel Market Update and CRU hosted our inaugural VIP Briefing in Chicago ahead of the Scouting America Metals Industry Dinner.
USMCA provides strong support for North American competitiveness. US manufacturing has lost considerable capabilities over the last few decades. “Cheating” by other countries is not the only reason. Nor is it even the most important reason
Core to the negotiations will be the need for a fundamental rebalancing of the relationship between the United States, Mexico, and Canada - especially when it comes to the steel and autos supply chain.
Toyota Motor Corp.’s $1 billion investment in its Kentucky and Indiana plants aims to expand production of aluminum-intensive vehicles, particularly across high-volume models and future battery electric platforms.
If I had to sum it up, I’d say “pain at the pump” is back. AAA says gasoline now averages more than $4 per gallon nationally ($4.08 to be precise) for the first time in for years. Meanwhile, diesel prices average $5.40 per gallon, according to the US Energy Information Administration. That’s up $1.81 per gallon from a year ago.
AMU's March survey results show lead times remaining extended as supply tightness persists, even as import competitiveness declines and logistics costs increase.
North American auto assemblies gained ground in February, up more than 8% vs. January, but still down more than 4% year on year (y/y), according to GlobalData.
The ongoing Middle East conflict, the resurgence of broad-based tariffs under Section 122 of the Trade Act of 1974, and the looming US midterm elections are not isolated developments. Rather, they form a kind of feedback loop in which each issue influences, and is influenced by, the others.
The US steel market is already characterized by high prices and tight supplies, and I wouldn't be surprised if prices move higher and supplies get even tighter – at least in the short term.