The mandate for the Global Forum on Steel Excess Capacity (GFSEC), an organization that has come in for criticism from the U.S., expires in November. However, the European Steel Association (EUROFER) argues the forum, which has focused on creating policies to tackle global excess capacity, should have its mandate extended. Need buying strategies for steel? Request your […]
Category: Ferrous Metals
Week in Review: Brexit Saga Continues, a Section 232 Challenge and Steel Imports
Before we head into the weekend, let’s take a look at the week that was and some of the metals storylines here on MetalMiner: Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook The prospect of a no-deal Brexit is inching closer and closer to reality. India’s steelmakers are facing an […]
This Morning in Metals: Nucor to Invest $1.35B for New Kentucky Steel Plate Mill
This morning in metals news, Nucor announced a major investment toward a new steel plate mill in Brandenburg, Kentucky, steel CEOs ask the Trump administration to maintain the Section 232 duty on steel, and copper prices moved up as U.S.-China trade talks resumed today. Need buying strategies for steel? Request your two-month free trial of […]
Global Crude Steel Production Rises 4.1% Year Over Year in February
Global crude steel production increased 4.1% in February compared with February 2018 production, according to the World Steel Association’s monthly production report. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook China’s Steel Production Growth Continues Global production hit 137.3 million tons in February, down from 150.3 million tons in January. […]
This Morning in Metals: Bipartisan Congressional Effort Aims for Section 232 Reform
This morning in metals news, Sen. Chuck Grassley (R-Iowa) is leading a bipartisan effort to change how Section 232 works, the OECD Steel Committee warns of a worsening global steel glut and U.S.-China trade talks will resume Thursday. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Section 232 Reform As […]
Trade Court Rejects Legal Challenge Aimed at Undoing President’s Section 232 Powers
The Trump administration scored a trade win in a ruling by the U.S. Court of International Trade (CIT) on Monday, as the three-judge panel rejected a challenge to the constitutionality of the Section 232 statute that yielded duties on imported steel and aluminum last year. Need buying strategies for steel? Request your two-month free trial […]
Indian Steelmakers Grapple with Sanctions-Diverted Iranian Steel
As if cheap steel imports from the Association of Southeast Asian Nations (ASEAN) was not enough of a problem to handle, India’s steelmakers are now fretting over heavily discounted steel imports coming in from Iran, a country that is under economic sanctions imposed by the United States. Need buying strategies for steel? Request your two-month […]
This Morning in Metals: Raiders’ Las Vegas Stadium Project Faces Steel Delivery Delays
This morning in metals news, an NFL franchise’s new stadium project in Las Vegas is facing delays in steel deliveries, Indonesia and China have taken anti-dumping action against each other’s steel products, and Ford earlier this week announced workers in southeast Michigan will make the automaker’s first autonomous vehicles in 2021. Need buying strategies for […]
Looking Ahead, Part 2: With Steel, What Happens in China Doesn’t Stay in China
[Editor’s Note: This is the second of a two-part series on steel supply and prices. Revisit Part 1 here.] Actual Chinese Steel Prices Looking at longer-term trends in Chinese steel prices, we can see after hitting a low during mid-to-late 2015, prices trended upward overall (with some ups and downs along the way). For example, […]
U.S. Steel Production Through March 16 Up 6.7% Year Over Year
U.S. steel mills produced 1.93 million net tons of raw steel during the week ending March 16, according to the American Iron and Steel Institute (AISI). Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Production for the week — which came at a capacity utilization rate of 82.9% — was […]