South Korea surges past Canada as top US steel supplier
South Korea has overtaken Canada as the top foreign supplier of steel to the US market.
Tag: US
HR market sources content with contract volumes, seeking out spot
Hot-rolled coil market participants report little disruption to their contact volumes, finding timely spot HR proved less straightforward, some sources told SMU.
Plate market sources warn availability squeeze has knock-on effects
Some domestic plate market participants recently voiced concerns that current market conditions will impact fabrication and manufacturing, which rely on steady product supply.
USW says healthcare most important issue for members in contract talks
“The issue we heard most about is healthcare. You were loud and clear at every location and in the surveys that maintaining our healthcare benefits is a top issue," the USW said.
SMU Steel Demand Index moves higher
SMU’s Steel Demand Index ticked back up from late May, remaining in elevated territory, according to mid-June indicators.
US manufacturing activity continues expansion for 5th consecutive month: ISM
May was the fifth consecutive month of expansion for the US manufacturing sector, according to the most recent Institute for Supply Management (ISM) report.
Bull Moose Tube agrees to acquire Hanna Steel
Bull Moose Tube Co. and Hanna Steel Corp. have reached an acquisition agreement, which will expand Bull Moose’s manufacturing footprint and add new tubing, coating, and logistics capabilities.
UAW votes to ratify new agreement with Dauch/American Axle, strike ends
The United Autoworkers (UAW) local 2093 voted 80% in favor of ratifying the latest contract agreement between the union and American Axle/Dauch Corporation.
Plate market anticipates spot price hikes through summer
Spot market participants recently told SMU they foresee additional plate price rises for domestically made products.
CRU: Global sheet prices diverge, USA stands out with gains
Sheet prices in the USA continued to move higher over the past month as supply remained tight in the country
HR buyers remain hopeful imports can meet spot demand
Some domestic spot market buyers say they're seeking imported hot-rolled (HR) coils.
AISI: Domestic steel shipments slip in April
The American Iron and Steel Institute (AISI) reports that US steel shipments fell from March to April.
USS study projects millions in tax revenue for Pennsylvania via Mon Valley upgrade
Over the next three years, U.S. Steel’s investment to upgrade its hot strip mill at Mon Valley is projected to result in over 6,000 jobs and $58 million in tax revenue, according to an economic impact study conducted by the Parker Strategy Group.
US cold-rolled group responds to Mexico trade case
The Association of Cold Rolled Specialty Steel (ACRSS) officially responds to the formal investigation Mexico opened into cold-rolled steel imports from the US
SMU scrap market survey results now available
SMU’s June ferrous scrap market survey results are now available on our website to all premium members.
CSPA: One-year of US tariff increases mark ‘unfortunate milestone’
Catherine Cobden, President and CEO of the Canadian Steel Producers Association (CSPA) called the past year’s 50% tariff imposed on Canada’s steel exports to the US ‘severe and unsustainable.’
Plate market says, 'the heat is on,’ as prices and demand soar
Participants in the plate market doubt prices, lead times, and demand forces will cool down any time soon.
Failed labor pact sparks UAW strike at one of GM's key suppliers
Members of the United Autoworkers (UAW) Local 2093 went on strike at the Dauch Corp.'s (formerly named American Axle and Manufacturing) Three Rivers, Mich., facility on Monday.
Canadian Steel Producers Association president and CEO stepping down July 31
Canadian Steel Producers Association President and CEO stepping down July 31.
Hot-rolled coil market participants accept delays, price increases
Participants in the hot-rolled coil spot market revealed that growing discomfort with current market dynamics hasn't deterred them from conducting spot transactions.
American Axle Workers prepare for potential strike on Sunday
American Axle Workers prepare for strike on Sunday
Extending lead times a top concern for frustrated plate buyers
Market participants report frustration with extending lead times for domestically produced plate products.
Metalformers expect stable market conditions to continue through the summer
The May Business Conditions Report issued by the Precision Metalforming Association (PMA) found metalforming manufacturers anticipate stable market conditions for the next three months.
CRU: Import volumes remain low, keeping supply tight in the USA
US domestic steel prices continued to increase for most products as demand remained resilient amid tight supply. Domestic sheet and plate prices increased over the past month, while long products prices were mostly stable, with only structural and merchant bar prices edging up higher.
Global steel production eases 4% in April
The total volume of raw steel produced around the world fell 4% in April following the one-year high seen in March, per World Steel Association figures.
Plate sources face challenging market forces amidst strengthening demand
Domestic plate market participants named extended lead times, increased freight costs, escalating fuel surcharges, and spotty demand as their most recent challenges.
With US prices high and lead times long, some sheet buyers eye imports
Sources told SMU they’ve begun considering whether US imports of sheet might benefit the overall market.
U.S. Steel posts mixed Q1, BR2 ramp-up drives major volume gains
U.S. Steel delivered a mixed first quarter. Segment performances diverged sharply as winter weather, outage activity, and major capital projects weighed on results.
Plate sources worry over near-term supply issues, price direction
Plate market participants wonder how plate supply will hold up in coming weeks and months, sources told SMU. Some sources called out dwindling availability of heavier grades and said certain domestic producers have “a huge backlog.” of all grades.
USS and USW convene ahead of formal contract negotiations
The United Steelworkers labor union and U.S. Steel plan to address their partnership and profit-sharing agreement during the week of May 11.