Steel News

Steel News

China’s Iron Ore and Copper Rallies Unsustainable?

As the summer months come to a close, the Chinese steel market has heated up, and so has the market in the USA.  Scrap prices are up in August in the USA and Iron Ore demand is increasing in China.  I don’t believe either are sustainable rallies.  This article details[…]

Section 232 a Wild Card, Uncertainty Slowing US Sheet Price Momentum

The following article appears today, discussing the repercussions from the announcement that the Section 232 trade ruling on steel is being delayed indefinitely.  I am encouraged by this delay, as I see this trade action as unnecessary, extremely costly to our manufacturers in the USA and a wild card as[…]

China Really Cutting Steel Capacity?

There have been many stories, tweets and accusations that the Chinese government has agreed to cut steel capacity, but actually had not done so.  In some cases, it appears they counted capacity cuts from mill shut down years ago, or planned expansion from existing mills as capacity cuts.  What we[…]

The Canary in the Coal Mine, Iron Ore Prices continue to Drop

Iron Ore is a leading indicator of the health of the overall steel market.  When Iron Ore prices are rising, so are steel prices and typically the global steel market.  If the current downtrend in Iron Ore is not a blip, then we could have already seen the top of the[…]

Is Gov’t mandated “Buy American” Capitalism?

Recent approval of the Keystone pipeline by our government included a clause saying the pipe used must be made in the USA. I knew this wouldn’t be possible for this pipeline as most, if not all of the pipe had already been purchased and was sitting, waiting for approval, so[…]

Posco Posts Huge 1Q Profit

Posco is seeing giant gains in profit as steel prices rise. According to a recent report from Reuters, POSCO said its estimated Q1 operating profit likely grew 82%, far exceeding analyst expectations. The reason is simple. Steel prices are going up faster than the cost of raw materials. Here is[…]

Steel Executives meet the Gov’mt

The following was reported in Steel Business briefing yesterday. There are discussions between legislators and steel executives about keeping specialty steel production alive in the USA as well as shipbuilding and infrastructure projects. Here is the full piece. Quite interesting. “Now that steel is more prominent on the Washington DC[…]

“Buy American” strikes again !

10 Countries hit with dumping suit on Wire Rod Today it was announced that several domestic wire rod producers have filed a dumping suit against 10 countries. Based on all the “Buy American” talk coming from the Trump administration, this is not a surprise. It may just be the first[…]

ThyssenKrupp Retiring from Steelmaking

The steel business has changed dramatically in the past 30 years. Long gone are the giants of the US Steel business from 30 years ago, Bethlehem Steel, LTV, Rouge Steel, Geneva Steel and more. When they closed, much of their equipment was disassembled and shipped to China, where it is[…]

China Iron Ore Mines only Threat to $$$$

“Australia’s most lucrative export commodity, iron ore, continues to fetch surprisingly strong prices, with big miners believing that only a ramp-up of mines within China can drive it lower. Iron ore was fetching $US92.61 per tonne over the weekend, having risen almost 2 per cent on Friday and almost 7[…]