Steel Market News

  1. On Wednesday at noon the Biden administration will take over the Executive Branch of the U.S. government.  President Biden is planning on hitting the ground running as he works to control the pandemic, put the U.S. back in the Paris Climate Accord, and (unfortunately) deal with a country fractured by Trump insurrectionists.

    Biden has made it clear that another one of his early Executive Orders will be a “Buy American” provision for any government contracts. He will be pushing for clean energy, which includes many infrastructure projects that are steel intensive. A large infrastructure bill is slated to come a little later this year.

  2. The Biden administration could act fast on a big infrastructure bill if the Senate is quick to approve the president-elect’s Cabinet, the head of the American Iron and Steel Institute (AISI) said.

    “By sometime this spring, I think we could have a major infrastructure bill done,” AISI President and Chief Executive Officer Kevin Dempsey said in an exclusive interview with Steel Market Update.

  3. U.S. Steel has closed its $774 million deal for the remaining stake in electric-arc furnace steelmaker (EAF) Big River Steel.

    “Taking a page from the Big River Steel playbook, we are closing on this world competitive green steel asset purchase under budget and ahead of schedule,” said U.S. Steel President and Chief Executive Officer David Burritt.

  4. On Tuesday, Jan. 14, USS POSCO notified customers of an upward revision to their galvanized steel coating extras, to apply on all new orders effective immediately.

  5. November heating and cooling equipment shipments totaled 1.66 million units, up 36.3 percent from levels one year prior, according to recent data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).

    Total 2020 shipments through November reached 20.4 million units, up 6.3 percent compared to 19.2 million units shipped in the same period of 2019. As seen in the chart below, year-to-date shipments for water heaters and central air conditioners/heat pumps are at the highest levels seen in recent years.