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President Donald Trump has expanded the application of Section 232 tariffs on aluminum and steel products to include “derivatives” of those items, downstream products where steel or aluminum make up more than half the good. The decision to expand the tariffs was made to thwart attempts to circumvent the original duties, a proclamation from the president stated.
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Following a strong 2018, the market for special quality bar products took a nosedive this year.
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The market for nonferrous metals has held up reasonably well, and experts are hopeful the trend continues into 2020.
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There was a bit of a reprieve in the ongoing trucker shortage in 2019. It won’t last.
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Service center executives, economists and others talk about demand, pricing challenges in the current steel market at Steel Market Update’s Steel Summit in Atlanta.
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The energy sector has slowed down in 2019, and the supply chain must work through excess inventory before a rebound can occur.
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Times have been pretty good for U.S. producers and distributors of steel plate, but there are worries the conditions may get a little softer in the back half of the year.
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Reliance Steel & Aluminumís record revenues of $11.5 billion in 2018 keeps it atop the annual survey of North Americaís largest service center companies.
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The U.S. will impose an additional 10 percent tariff on approximately $300 billion of Chinese imports, though President Donald Trump pushed back the date some of the tariffs will go into effect to December.
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Russel Metals reported net revenues of $937 million in the second quarter, a decline of 4.2 percent compared with the same quarter in 2018. First-half revenues for the Canadian service center company were up 3.1 percent to $1.97 billion.
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From demand to availability to raw materials, the stainless industry is in the middle of a relatively flat run. And only global political events are likely to reverse the trend.
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Though spending on public works has been performing better than expected, such strength won’t linger unless Congress and the president can agree on a major spending bill.
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Friedman Industries, Longview, Texas, reported net earnings of $5.1 million on sales of $187.2 million in its Fiscal Year 2019. Earnings increased 29.6 percent compared with the prior fiscal year, while sales were up 54.5 percent from the past year.
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Gains in the automotive sector have been a ‘boon’ for aluminum extruders.
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If you are mystified by today’s steel prices, you are not alone.
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The dual effects of Section 232 tariffs and NAFTA upheaval have put the brakes on Mexico’s steel market. The country’s return hinges on an end to the trade uncertainty.
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From tax incentives to material changes, service centers have plenty of reasons to invest in new equipment… and they are.
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The appliance market defied macroeconomic trends with a flat year in 2019. Will the sector continue to defy the odds this year?
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