Shares of the global financial sector fell due to the failure of US banks by about ten per cent, and about five per cent for the emerging markets, according to the “MSC” index from 9 to 16 March. The aftershocks of the Silicon Valley Bank collapse, the first of the troubled US banks, led to […]
Crisis tumbles the American banks and global shares fall by 10% Read More »
Oil ended trading lower on Friday, giving up early gains that exceeded a dollar per barrel; concerns about the banking sector pushed the two benchmarks to record their most significant weekly losses in months. Brent crude futures fell $1.73, or 2.3%, to $72.97 a barrel at settlement, while US West Texas Intermediate crude lost $1.61,
Oil is falling and incurring a large weekly loss, amid concerns about banks Read More »
According to the latest figures from the US International Trade Commission, US iron scrap exports totalled 1,272,800 tonnes in January 2023, down by 15.4 per cent month-on-month and down 0.2 per cent year-on-year. Mexico was the largest importer of US iron scrap exports in January, with a volume of 320,960 tonnes, down by 3.2% month-on-month
US iron scrap exports decreased by 15.4% in January Read More »
Canada banned aluminium and steel imports from Russia, aiming at “cutting off or limiting revenues being used to fund the Russia-Ukraine war”. According to the latest government data, these imports represented nearly 250 million Canadian dollars (170 million euros) in 2021. This coincides with the entry into force of a 200% increase in tariffs on
Canada bans Russian aluminium and steel imports Read More »
Based on Bureau data preliminary Census, the American Iron and Steel Institute (AISI) reports that in January 2023, the United States imported 2,607,000 tonnes (NT) of steel, up by 18.3% compared to December 2022 and down by 14.4% compared to January 2022, including 2,000,000 tonnes (NT) of finished steel products, up 7.3% compared to December
US steel imports account for 24% of the market share Read More »
Kevin Dempsey, president and CEO of the American Iron and Steel Institute (AISI), commends the steel members of Congress who sent a support letter to President Joe Biden to maintain tariffs on foreign steel imports. “We are elated and grateful that so many members of Congress have stood up for the American steel industry and
According to preliminary statistics data released by the US Department of Commerce, the total US rebar imports reached 63,030 tonnes in December 2022, up by 10% from November and up by 5.4% from December 2021. In terms of value, total reinforcing steel imports amounted to $52.6 million in December 2022, compared to $49.8 million in
Algeria tops the countries exporting rebar to the United States in December Read More »
The oil prices declined to a three-week low on Friday in a choppy session after US jobs data stoked concerns about rising interest rates. As investors sought more clarity on the looming European Union ban on Russian refined products. Brent crude futures fell by $2.23, or 2.7%, to $79.94 a barrel, after a rise to
Oil prices are at their lowest in 3 weeks Read More »
According to export data from the US Department of Commerce, US exports of cold-rolled flat steel totalled 37,099 tonnes in November 2022, down 24.1% from October and 29.5% from November 2021. In terms of value, cold-rolled flat exports totalled $47.0 million in November, compared to $65.4 million in the previous month and $62.9 million in
US exports of flat steel decreased by 24.1% in November 2022 Read More »
Oil prices rose 3% to their highest level in a week, as hopes for an improvement in global economic prospects and concerns about the impact of sanctions on Russian crude production overshadowed a sudden and large increase in US crude inventories. Brent crude futures rose $2.57, or 3.21%, to $82.67 a barrel upon settlement, and
Oil prices rise 3%, “Brent” above $82.5 a barrel Read More »
According to preliminary statistics data issued by the US Department of Commerce, monthly steel imports in the United States for November 2022 decreased by 17.0% compared to October, reaching 1,820,442 tonnes, a decrease of 30.7% compared to November 2021. In terms of value, total US steel imports in November amounted to $2.78 billion, compared to
US steel imports decreased by 17% in November Read More »
According to export data from the US Department of Commerce, US exports of rebar totaled 16,141 mt in October 2022, up 21.4% from September but down 10.5% from October 2021. By value, rebar exports totaled $15.7 million in October, compared to $13.7 million in the previous month and $18.3 million the same month last year.
US rebar exports up 21.4% in October Read More »
The World Trade Organization said tariffs on steel and aluminum imports by the United States in 2018 were illegal in a ruling on a dispute published by arbitrators on Friday, December 9. The ruling concluded that the administration of then-US President Donald Trump violated the rules of the Trade Organization, and the plaintiffs were China,
WTO: US tariffs on steel and aluminum are illegal Read More »
According to export data from the US Department of Commerce, monthly steel exports in October 2022 decreased 3.6 % from September to total 632,670 mt. A year-on-year comparison shows a 3.1 % decrease. In terms of value, US steel exports in October totaled $1.21 billion, compared to $1.26 billion in September and $1.14 billion in
US steel exports down 3.6 % in October Read More »
According to preliminary census data from the US Department of Commerce, US imports of cold rolled sheet totaled 129,098 mt in October 2022, up 25.5% from September and up 17.8 % from October 2021 levels. By value, CRC imports totaled $163.1 million in October 2022, compared to $146.8 million in September and $181.7 million in
US CRC imports up 25.5 % in October 2022 Read More »
A US agency revealed that the United States and the European Union are considering imposing new tariffs on Chinese steel and aluminum as part of the fight against carbon dioxide emissions Bloomberg reported, citing sources familiar with the situation, that the idea originated in the administration of US President Joe Biden, but it is still
US and European Union are considering imposing new tariffs on Chinese steel and aluminum Read More »
European Commission President Ursula von der Leyen said today that the United States and the European Union should invest together in clean technology and not risk a devastating trade war. Von der Leyen said in a speech at the College of Europe in Bruges that in the face of climate change and competition from China,
Oil prices fell by more than 3 percent at the settlement on Wednesday, continuing a series of fluctuations, amid talks by the Group of Seven to set a ceiling for the price of Russian oil beyond the level at which it is currently traded and to increase gasoline stocks in the United States much more
Oil falls 3% amid talks to cap the price of Russian oil Read More »
US Federal Reserve officials are heading to raise interest rates this week by 75 basis points for the third meeting in a row and indicate that they will go to more than 4 per cent, and then will be maintained at this level, Bloomberg News reported September 19. Bloomberg said the increase could be even
According to final census data from the US Department of Commerce, US imports of wire rod totaled 177,448 mt in July 2022, up 101.3% from June and up 79.3% from July 2021 levels. By value, wire rod imports totaled $186.6 million in July 2022, compared to $105.7 million in June and $85.9 million in July
US wire rod imports up 101.3% in July, Algeria and Egypt led Read More »
According to preliminary census data from the US (us) Department of Commerce, US (us) monthly steel imports in July 2022 decreased by 5.7 % from June to total 2,425,586 mt. A year-on-year comparison shows a 9.7% decrease. In terms of value, US (us) steel imports in July totaled $3.91 billion, compared to $4.05 billion in
US steel imports down 9.7 % in July Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 149.3 million tonnes (Mt) in July 2022, a 6.5% decrease compared to July 2021. Africa produced 1.2 Mt in July 2022, down 5.4% on July 2021. Asia and Oceania produced 110.1 Mt, down 5.2%. The EU (27) produced 11.7
World crude steel production declined by 6.5% in July 2022 Read More »
Oil prices fell on Monday, to near multi-month lows, after the recession hit demand and data pointed to a slow recovery in China’s imports of crude oil last month. Brent crude futures fell 74 cents, or 0.8%, to $94.18 a barrel by 03:30 GMT, and prices for the closest contract month recorded their lowest levels
Oil falls on fears of recession and slow recovery in China’s imports Read More »
The US Federal Reserve’s Open Market Committee decided to raise the federal funds rate by 75 basis points to 2.5%, increasing it for the fourth time this year. The Fed said more increases would be needed in its ongoing battle to curb mounting price pressures. The increase is the second in a row by 75
US Federal Reserve raises interest rates for the fourth time this year to 2.5% Read More »
According to preliminary census data from the US Department of Commerce, US monthly steel imports in June 2022 increased by 2.2 % from May to total 2,550,475 mt. A year-on-year comparison shows a 2.7 % decrease. In terms of value, US steel imports in June totaled $4.02 billion, compared to $3.79 billion in May and
US steel imports up 2.2% in June Read More »
The US Federal Reserve decided to raise interest rates by 75 basis points, which comes as a continuation of the monetary tightening policy pursued by the United States in an attempt to alleviate the pressures caused by the acceleration of inflation rates that jumped to their highest levels since 1981 during last May. The last
US Federal Reserve raises interest rates by 75 points … the largest increase since 1994 Read More »
Oil prices fell, as persistent fears of stagnant demand cast a shadow over sentiment and put the benchmark crude on track for its third consecutive weekly loss. By 04:28 GMT, Brent crude futures were down 20 cents, or 0.2%, at $108.83 a barrel, giving up gains of more than a dollar earlier in the session.
Oil prices fall, Brent crude to $108.83 a barrel Read More »
According to preliminary census data from the US Department of Commerce, US imports of hot rolled sheet totaled 201,678 mt in May 2022, up 11.4 % from April but down 4.0 % from May 2021 levels. By value, HRC imports totaled $246.0 million in May 2022, compared to $208.2 million in April and $190.3 million
US HRC imports up 11.4 % in May Read More »
CMC Steel recently replaced the Danieli Automation Q-One digital power feeder in its existing ladle-furnace transformer, starting operation without any delay to production in the commissioning stage. The innovative features of Q-One allow furnaces to operate at variable frequencies; in fact tests have been executed operating the furnace at CMC Steel Arizona down to 20
CMC Steel operates the energy-saving Q-One power feeder from Danieli Read More »
US Federal Reserve Chairman Jerome Powell acknowledged to Congress that a rapid rise in interest rates could cause a recession, even if that is not what he wants. During a Senate hearing, Powell answered a question from a senator who had expressed concern about a recession because of the bank’s monetary policy, saying, “It’s certainly
The Federal Reserve Chairman acknowledges the possibility of a recession Read More »