Worthington Board OKs Separation of Steel Processing Business
Worthington Industries said on Thursday its board of directors has approved the previously announced separation of its Steel Processing business, Worthington Steel Inc.
Tag: trade
HRC Futures: Utilizing Futures Spreads
Several past columns in SMU have included comments about the futures forward curve, using terms like contango and backwardation
US Hot Rolled Prices Surge Past Offshore Product
Hot-rolled coil (HRC) tags continue to rally in the US, broadening the price disparity between domestic and imported offshore product.
SMU Community Chat: US-EU Are ‘Nowhere Close’ to a Global Arrangement on Steel
Alan Price discussed the deep complexity of issues in the Global Arrangement on Sustainable Steel and Aluminum negotiations between the US and EU on Wednesday’s Community Chat.
AISI: The Environment Is a Trade Issue - Why Carbon Tariffs Are Needed
The American steel industry is the backbone of the US economy and produces the cleanest steel in the world.
Gap Widens Between US and Foreign Hot Band Prices
US hot-rolled coil (HRC) tags moved higher again this week, widening the gap in pricing between imported offshore product.
Final Thoughts
Sheet prices are getting back into very lofty territory. That’s assuming you can find spot tons available for the balance of 2023 – and some of you say you can’t.
Imports Fall in September, But Flat Rolled at Three-Month High
The decline in imports from August to September was more pronounced than license applications suggested earlier this month.
Leibowitz: US-EU Fail To Compromise, Deadlock on Steel and Aluminum
The long-anticipated US-EU summit took place on October 20. There was wide anticipation that the two sides would announce a partial agreement on steel and aluminum policy and perhaps an agreement on critical minerals, such as lithium for electric vehicle batteries. Even modest accomplishments such as these were not to be. Instead, the US and […]
CRU Aluminum: Relief Comes With Word of Pending UAW Deal
With the aluminum industry assembled in Nashville, Tenn., for the Aluminum USA 2023 conference, word was breaking of a tentative deal between the United Auto Workers (UAW) and Ford.
ArcelorMittal Warns St. Lawrence Strike Could Hit Dofasco Raw Material Supplies
Canadian steelmaker ArcelorMittal Dofasco could be impacted by a strike on the St. Lawrence Seaway, a company spokeswoman said.
Unifor Strike Shuts Down St. Lawrence Seaway
The St. Lawrence Seaway is shut down after members of Canada’s Unifor union went on strike against the St. Lawrence Seaway Management Corp. (SLSMC) this past weekend.
Apparent Steel Supply Increased in August
US apparent supply increased to 8.65 million net tons in August, up 5% compared to 8.24 million tons July, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI). Apparent steel supply is determined by combining domestic steel mill shipments and finished US steel imports, then deducting total […]
South Korea, Brazil Won’t Max Out HRC Quotas This Year
South Korea and Brazil will not be maxing out their allowable quotas on hot-rolled sheet shipments to the US for 2023, according to government data analyzed by SMU.
Leibowitz: The Global Energy Revolution Meets Trade Bottlenecks
Electricity demand worldwide is growing significantly, requiring massive investments in the electric grid to supply increased needs and desire for electricity. A recent report by the International Energy Agency (IEA) indicates that global demand for electricity will double from 2020 to 2050. In developed economies, the growth rate will be somewhat lower. But it will […]
US, EU To Continue Talks on Steel, Aluminum Deal After White House Meeting
After a meeting Friday at the White House, the EU and US issued a joint statement noting no concrete movement towards a Global Arrangement on Sustainable Steel and Aluminum.
November Scrap Tags Seen Mostly Sideways, Sources Say
As the ferrous scrap market in the US enters the home stretch for 2023, it faces an array of issues and uncertainties.
Register for Nov. 8 Community Chat With Wiley Trade Lawyer Alan Price
Wiley partner Alan Price will be the featured speaker on Steel Market Update’s next Community Chat webinar on Wednesday, Nov. 8, at 11 a.m. ET. You can register here.
Domestic HRC Prices Surpass Foreign Hot Band
US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.
Leibowitz: The US-EU Steel, Aluminum, Climate, and Geopolitics Dance
The US and EU have apparently decided to move part way to a deal on steel and aluminum that will prevent a resumption of Section 232 tariffs.
CRU: Ore-Based Metallics Prices Mixed as Demand Weakens
Prices for ore-based metallics were mixed month-on-month (MoM) as lower finished steel production weighs on pig iron demand.
SMU Explains: A Brief History of the US Pig Iron Market
The pig iron trade is an important element to the US steel and foundry industry.
Commerce Updates AD/CVDs on Korean Cold Rolled
The US Department of Commerce’s International Trade Administration (ITA) is updating the antidumping and countervailing duties (AD/CVD) on cold-rolled steel imports from South Korea.
CMC Reports Strength in North America as Europe Struggles
With solid demand and attractive margins, the North American market has been helping to prop up CMC’s results as its European operations struggle with weaker demand amid challenging market conditions.
Foreign and Domestic HRC Prices Near Parity
US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.
Commerce Gives Final Ruling in Japanese Tin Products Sunset Review
The US Department of Commerce has issued its final ruling in an expedited sunset review of antidumping duties on imports of tin mill products from Japan.
US and EU to Discuss 'Global Arrangement' for Steel and Aluminum
The US and European Union will continue trade talks on Friday, Oct. 20, according to a statement from the European Council.
Leibowitz: The 2023 Supreme Court Term and International Trade Law
The 2023 term continues a series of very eventful Supreme Court sessions, similarly to 2021 and 2022 terms.
CRU Aluminum: Secondary Aluminum to Play A Bigger Role Over The Next 2-3 Years
The LME aluminum three-month price was broadly unchanged on Friday morning, Oct. 6, and was last seen trading at $2,243 per ton. Due to the Mid-Autumn Festival and National Day celebrations, the SHFE is closed for holidays from Sept. 29 to Oct. 6. According to a report from Bloomberg, leaders from the EU and the […]
Final Thoughts
The US steel market appears to have gone from despairing over the possibility of spot HRC prices slipping into the $500s per ton to worrying about spot availability – and in just a matter of 2-3 weeks.