Global crude steel production fell month over month for the second straight month in July, the World Steel Association reported this week. With volatile steel markets, knowing which strategy to execute and when can make all the difference between saving and losing money. See how MetalMiner looks at different market scenarios. Global crude steel production […]
Tag: Steel
July witnesses an increase in steel imports to the United States, driven by a surge in blooms, billets, and slabs
U.S. steel imports totaled 2.7 million metric tons in July, the Census Bureau reported this week. The total marked an increase from 2.6 million metric tons in June. Are you under pressure to generate steel cost savings? Make sure you are following these five best practices. US steel imports paced by blooms, billets and slabs […]
This Morning in Metals: US steel imports up 17.4% this year
This morning in metals news: U.S. steel imports are up by 17.4% in the year to date, the American Iron and Steel Institute reported; meanwhile, Toyota Motor is imposing its biggest price hike on steel materials in over a decade, according to Nikkei Asia; and, lastly, the WTI crude oil price has ticked up this […]
Steel capacity utilization ticks back up to 85.0%
U.S. steel capacity utilization picked back up to 85.0% for the week ending Aug. 21, the American Iron and Steel Institute (AISI) reported. Receive the latest short-term and long-term outlook for the full range of industrial metals (base and ferrous) at the annual MetalMiner Forecasting Workshop on Aug. 25. Steel capacity rises U.S. steel capacity […]
Steel prices in China looking more vulnerable in the face of falling input costs
Unusually, the global steel market is diverging in the opposite direction from “normal.” Historically, China would show signs of strength driven by robust construction activity while Europe and the U.S. struggled, facing more mature markets and relatively higher levels of foreign penetration. The U.S. continues to power ahead. There, mill lead times remain stubbornly protracted. […]
This Morning in Metals: US import prices up 0.3% in July
This morning in metals news: the pace of the rise of U.S. import prices slowed in July compared with the previous month; meanwhile, Nucor completed the acquisition of an insulated metal panels business; and, lastly, U.S. steel prices continue to move upward. Want an occasional email from MetalMiner that highlights new content with NO sales […]
Raw Steels MMI: Steel demand on the rise
The Raw Steels Monthly Metals Index (MMI) rose by 7.8% as U.S. and Chinese steel prices continued their rally. Volatility is the name of the game. Do you have a steel buying strategy that can handle the ups and downs? Executive order on zero emissions, electric vehicles On Thursday, Aug. 5, President Joe Biden’s office […]
China aims to further reduce steel output
The world’s largest steel producer and exporter, China, is actively contemplating adding more curbs to halt environment pollution which, most likely, will reduce its steel output and dampen exports. That’s good news for some of China’s neighbors steel-producing rivals, India and Japan. Stop obsessing about the actual forecasted steel price. It’s more important to spot […]
June global crude steel production drops 4.0% month over month
While global steel production levels remain well ahead of levels seen at the same time last year — when the COVID-19 was still only in its early days and demand had not yet had a chance to bounce back — output levels in June did fall compared with the previous month. According to the World […]
US steel imports jump 13% in June
U.S. steel imports reached an estimated 2.6 million metric tons in June, the Census Bureau reported today. The total marked a jump of 13% from the 2.3 million metric tons the U.S. imported in May. US steel imports rise Furthermore, through May, U.S. steel imports totaled 10.7 million metric tons, up 7% from 10.0 million […]