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This evening in metals news, President Donald Trump indicated yesterday Section 232 might be going on the backburner, data show a sharp rise in steel imports during June and a new report predicts the 3-D printing metals market will be worth $12 billion by 2028. Benchmark Your Current Metal Price by Grade, Shape and Alloy: See How it...
This morning in metals news, the still-pending Section 232 investigations into steel and aluminum imports, raw steel production is up 2.7% in the U.S. year-over-year and aluminum has reached its highest point in 2.5 years. Uncertainty Growing in Aluminum Market It’s not exactly surprising that some in the aluminum and steel industries are feeling anxious...
The U.S. steel industry upped its production levels during the week ending July 22. Benchmark Your Current Metal Price by Grade, Shape and Alloy: See How it Stacks Up In total, U.S. raw steel manufacturers produced 1.77 million net tons for that week, according to weekly data from the American Iron and Steel Institute (AISI)....
It’s been five months and a day since President Donald Trump signed a memorandum calling for Secretary of Commerce Wilbur Ross to prioritize the Section 232 investigation that would assess whether steel imports posed a national security risk. Benchmark Your Current Metal Price by Grade, Shape and Alloy: See How it Stacks Up Many expected...
This morning in metals news, Australia is relieved to have reportedly secured an exemption from protectionist measures that may come to pass as a result of the Trump administration’s Section 232 investigations into steel and aluminum imports; the bourbon industry might be subject to retaliatory measures from the EU if Section 232 hits Europe; and...
This morning in metals news, the chairman of the Japan Iron and Steel Federation warns that U.S. tariffs on its steel imports could lead to retaliation, copper hit its five-month high and aluminum producer Norsk Hydro expects 2017 to present a balanced aluminum market. Benchmark Your Current Metal Price by Grade, Shape and Alloy: See How it...
This morning in metals news, the Section 232 steel investigation is reportedly in its final stages, better-than-expected data on the Chinese economy buoyed copper prices and a 3-D printing startup got a rich vote of confidence. Benchmark Your Current Metal Price by Grade, Shape and Alloy: See How it Stacks Up Section 232 Steel Conclusion: Almost...
China is far from alone in worrying about an investigation by the U.S. Department of Commerce into the impact of imported steel on the U.S. steel industry (due to be announced this week). Benchmark Your Current Metal Price by Grade, Shape and Alloy: See How it Stacks Up The Section 232 investigation is the result...
The GOES M3 spot price index fell by 4% in October while no action has been taken on the Section 232 steel import investigation. Benchmark Your Current Metal Price by Grade, Shape and Alloy: See How it Stacks Up China has gone on the offensive, specifically calling foul on the U.S.’s decision not to grant China MES (market economy status). This and the Section 232 investigations have real implications for GOES markets and specifically the sole domestic producer AK Steel. AK Steel missed its most recent earnings estimates, blaming lower automotive demand and shipments, lower average sales prices during Q3 and rising GOES imports, according to Market Realist. But AK also cited higher LIFO charges and rising raw material costs. According to AK Steel CEO Roger Newport in the company’s most recent earnings call Oct. 30, “Yet as the only...
This morning in metals news, aluminum producers in the Middle East say any Section 232 measures implemented by the U.S. will ultimately only impact the American consumer, U.S. steel production was down last week and the next round of North American Free Trade Agreement (NAFTA) talks will start a little earlier than previously announced. Benchmark...
This morning in metals news, gold isn’t so golden, U.S. sheet steel prices held steady as the Department of Commerce’s self-imposed Section 232 announcement deadline came and went, and mining operations in Chile could open back up, as the price of the metal has rebounded. Steady as Steel Friday, June 30, was the deadline set by...
The Commerce Department launched an investigation on Wednesday to determine whether a flood of aluminum imports from China and elsewhere was compromising U.S. national security, a step that could lead to broad import restrictions on the lightweight metal. Commerce Secretary Wilbur Ross said the investigation is similar to one announced last week for steel imports into the U.S., invoking Section 232 of the Trade Expansion Act of 1962. Benchmark Your Current Metal Price by Grade, Shape and Alloy: See How it Stacks Up "Here’s why we did it,” Ross told reporters, “Imports have been flooding into the aluminum industry and the defense angle is that high-purity aluminum is used in the F-35” as well as other military aircraft and vehicles. In the event of a war, domestic manufacturers might be unable to meet the Pentagon’s needs, Ross said. The investigation...
The M3 GOES MMI — the sub-index tracking grain-oriented electrical steel — fell two points this past month from 189 to 187. Benchmark Your Current Metal Price by Grade, Shape and Alloy: See How it Stacks Up The small decline in the U.S. runs counter to market price trends for Japanese GOES material. According to a recent TEX Report, Japanese producers have won price increases because of supply shortages. Moreover, Korea’s Posco scored a $300/metric ton price increase to supply India. Meanwhile, MetalMiner sources say Chinese producers appear fickle, quickly raising prices only to lower them to accept new orders and fill capacity. The 800-pound gorilla in the room, however, involves the Section 232 investigations. Many are speculating that the delay will bring about a more modest set of recommendations from Department of Commerce Secretary Wilbur Ross, as the much-awaited...
This morning in metals news, production of raw steel in the U.S. is up for the year, President Donald Trump reportedly rejected a Chinese proposal to cut its steel excess capacity and copper approached a three-year high. Benchmark Your Current Metal Price by Grade, Shape and Alloy: See How it Stacks Up Steel Production Up...
The Aluminum MMI dropped one point for our July reading, falling back to 87 after May and June saw the sub-index check in at 88. Benchmark Your Current Metal Price by Grade, Shape and Alloy: See How it Stacks Up The sub-index has been in somewhat of a holding pattern since April, when President Donald Trump's investigation announced it was opening investigations into steel and aluminum imports, invoking the little-used Section 232 of the Trade Expansion Act. The Commerce Department held a public hearing June 22, during which industry executives offered their opinions on the challenges facing U.S. aluminum and whether protectionist actions should be taken. While primary manufacturers welcomed tariffs or quotas, downstream manufacturers weren't as keen on the idea. More recently, the International Trade Commission (ITC)  released its own report on the competitive conditions affecting the U.S. aluminum industry. The...
This morning in metals news, the Department of Commerce’s Section 232 hearing on aluminum is in progress this morning, the LME is expected to cut its trading fees and London copper rose Thursday as a result of data indicating a global supply deficit. Benchmark Your Current Metal Price by Grade, Shape and Alloy: See How...
This morning in metals news, the global metal fabrication robot market is set to grow a great deal in the next four years, congressmen are asking President Donald Trump to limit the scope of any potential aluminum tariffs (stemming from the administration’s Section 232 investigation) and the president is reportedly growing increasingly frustrated with China, which could...
This morning in metals news, Chinese exports of steel are down to levels not seen in a few years, aluminum prices get a boost from talks of Chinese output cuts and a group of former White House economists wrote President Donald Trump in an attempt to convince him not to go forward with imposing tariffs on steel...
This morning in metals news, a team of researchers has developed a magnesium alloy that is billed to be at least 1.5 times stronger than aluminum sheet metal, copper is up and one analyst writes that China should not be the primary focus of the U.S. steel industry. Benchmark Your Current Metal Price by Grade, Shape...
This morning in metals news, the wait for Section 232 continues, investors are betting on copper as electric cars grow in popularity and palladium is having a record year. Participate in MetalMiner’s Budgeting Workshop on July 26 to help set your 2018 metals budget Section 232 Watch Drags On These days, folks in the aluminum and...