Report: Nippon Steel sees clear skies ahead for USS deal
Nippon Steel believes it can successfully complete its planned buy of U.S. Steel, according to a report in Reuters.
Nippon Steel believes it can successfully complete its planned buy of U.S. Steel, according to a report in Reuters.
The Department of Commerce issued its final determination in the trade case involving tin mill products from a handful of countries.
The new year represents an opportunity to capitalize on America’s leadership position in free market principles, steel industry modernization, and global efforts to create a lower carbon future for the steel industry. Steel Manufacturing Association (SMA) members are poised to lead the way.
The International Trade Commission (ITC) held a hearing on Thursday, Jan. 4, to consider arguments for and against the imposition of antidumping and countervailing duties (AD/CVDs) on tin mill products from a handful of countries. Both sides made compelling arguments.
Active domestic rotary rigs dipped slightly this week, but Canada's firms increased their count significantly, according to Baker Hughes.
SMU’s Buyers Sentiment Indices both fell this week, with current sentiment taking a large dive to begin the new year, according to our most recent survey data.
The LME aluminum 3-month price was moving further down on the morning of Jan. 5 and was last seen trading at $2,287 per metric ton (mt) as of this article’s writing, already down 6% from its recent peak. SHFE cash also concluded the first week of the year on a weaker foot. The cash contract […]
The iron ore price has edged up further from the already high level seen last week. The market is generally slow, meaning that the moderate price increase came from the bullish outlook from the market following last week’s stimulus announcements from China and expectations of restocking picking up. Supply fell w/w from both Australia and Brazil as […]
After a brief decline in the price of scrap for the Turkish market, which peaked in December at approximately $424 per metric ton (mt) for HMS 80/20, the market has bottomed at $405/mt on cargoes from Europe.
Steel mill lead times pulled back across the board this week but are still said to be at healthy levels, according to SMU's market survey this week.
Radius Recycling reported a net loss in its fiscal first quarter of 2024 on tighter supply flows for recycled metals and lower average selling prices for the company’s products.
US hot-rolled coil (HRC) prices moved up again this week and remain significantly more expensive than offshore product.
New Reibus CEO Temy Mancusi-Ungaro and company President Chris Shipp will join SMU for the inaugural Community Chat of 2024 on Wednesday, Jan. 10, at 11 am ET. You can register here.
After falling in November, steel imports appear to have bounced back to a five-month high in December.
SMU doesn’t do forecasts. We leave that to our colleagues at CRU. But we’re pretty good at surveys, and we’ve got a great group of readers. That’s why we decided to ask you what’s in store for 2024. The results are below, along with some insightful comments in italics.
Sheet prices were mixed in SMU’s first assessment of the market in the New Year.
Nucor Corp. announced in a letter to customers on Friday, Dec. 29, that its plate mill group would hold prices unchanged for as-rolled discrete plate, normalized, and quenched-and-tempered plate with the opening of its plate mill order book for February.
Wilbur Ross doesn’t believe the proposed sale of U.S. Steel to Japan’s Nippon Steel poses any threat to the economic or national security of the US.
After meeting with Nippon Steel, the United Steelworkers (USW) union remains weary of the company’s proposed acquisition of U.S. Steel.
November’s preliminary count shows US imports falling, but to a lesser degree than an earlier license count had suggested, according to the latest government figures.
The tariff rate quotas (TRQ) on steel and aluminum imports from the European Union are being extended for another two years.
The latest American Iron and Steel Institute (AISI) production figures show domestic steel output slipping the week before the Christmas holiday. Domestic mills produced an estimated 1,693,000 net tons of steel during the week ended Dec. 23, AISI said. Output was down 1.2% from the previous week but was 7.4% higher than the same week […]
The end of one year is often both a time for reflection, and for looking ahead. You make sense of the ups and downs from January through December. Then you wipe off the old crystal ball, and try to make out what’s in store for the next 365 days.
A White House official said the planned $14.1-billion acquisition of U.S. Steel by Japan's Nippon Steel deserved a closer look. President Joe Biden "believes the purchase of this iconic American-owned company by a foreign entity—even one from a close ally—appears to deserve serious scrutiny in terms of its potential impact on national security and supply chain reliability."
While you gear up for the holidays, don’t forget that the 2024 Tampa Steel Conference is just a little over a month away. One of the premier steel conferences in the US, it will be a great complement to our record-breaking SMU Steel Summit this past August.
US hot-rolled coil (HRC) prices might have plateaued. But while prices for offshore product have increased in some regions, imports remain significantly cheaper that domestic material. All told, US prices are roughly 26% more expensive than imports, a premium that is down only slightly from last week.
Global steel production rose in November compared to a year earlier with output in China roughly flat and significant gains elsewhere, according to the latest figures from the World Steel Association (worldsteel).
Steel buying lead times remain mixed as we head into the last week of 2023, according to SMU's most recent survey data.
Political opposition to Nippon Steel Corp.’s (NSC) proposed purchase of U.S. Steel continues to build.
Domestic steel mill shipments dipped year-to-date (YTD) through October from a year earlier, according to revised American Iron and Steel Institute (AISI) data.