Global steel demand is projected to grow by 3.9% in 2019, and additional 1.7% in 2020, according to worldsteel’s short range outlook (SRO) report for October 2019. Source: worldsteel 3-minute read According to worldsteel, the global steel market remains resilient, despite the current economic climate. “The current SRO suggests that global steel demand will continue…
Recent report from the American Iron and Steel Institute (AISI) shows steel import to be down YTD, with finished steel import market share estimated at 20% for that time period. Source: AISI 1-minute read According to the American Iron and Steel Institute (AISI), August steel imports total 2 million net tons (NT), of which 1.783 million…
Based on AISI report for the week ending on August 31, 2019, domestic raw steel production has decreased slightly from the same period in 2018. Source: AISI 1-minute read Based on an AISI report for the last week in August 2019, domestic raw steel production was 1.85 million net tons (NT) with a capability utilization rate…
U.S. Census Bureau releases its report on steel imports for July 2019 Source: AISI 1-minute read According to U.S. Census Bureau data, the U.S. imported 3,028,000 net tons (NT) of steel in July 2019, of which 1,843,000 NT are finished steel. This represents an increase of 48.3% and 6.6%, respectively, compared to June 2019 data. When…
Treasury Secretary Steven Mnuchin Testifies regarding the administration’s position with Canada, Mexico, and China Source: WSJ 2-minute read While testifying before a Senate Appropriations subcommittee on Wednesday, Treasury Secretary Steven Mnuchin stated that U.S. negotiators are close to resolving trade disputes with two of its closest trading partners. In addition, Mnuchin said that negotiators are likely to…
Market Forecast: Global Demand expected to Rise, but U.S. market-size dips to no. 3 Source: worldsteel and AIST 2-minute read According to the World Steel Association, the global steel demand is projected to expand to 1,735 Million metric tons in 2019, an increase of 1.3% over 2018. In 2020, demand is projected to continue to rise…
Industry snapshot: shipments are on the rise while imports are down, according to AISI reports. Source: AISI 1-minute read According to a report published by the American Iron and Steel Institute (AISI), during the month of January 2019 US steel mills shipped 8,079,757 net tons of material. This represents a 3.5 percent increase from the…
As both imported and domestic steel prices continue to decline, U.S. buyers are becoming concerned with additional price drops. Source: AMM 3-minute read Despite the continuing decrease in imported steel prices, buyers in the U.S. remain hesitant to purchase in fear of additional price drops. In addition, buyers are concerned that imported steel, which is…
Industry snapshot: After a successful 2018, companies in the steel industry are looking to expand their reach through mergers and acquisitions. Source: AMM 2-minute read As businesses adjust to market conditions and restart business after the holidays, some key players in the industry have used the current economic conditions to expand and enhance their market…
1-minute read This holiday season we focused more on giving back and supporting our communities through organizations that pour their heart and soul to help those in need. As such, we’ve partnered with MANNA (Metropolitan Area Neighborhood Nutrition Alliance), a non-profit organization in Philadelphia, and prepared nearly 1,000 meals for recipients in the Philadelphia metropolitan area. Special Thanks…
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