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Michael Fitzgerald (@SteelFitz) profile picture

Michael Fitzgerald

@SteelFitz

VP of Business Development Metals for Argus Media. Views expressed are my own.

 Pittsburgh, PA
Joined May 2015
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Photo by Michael Fitzgerald (@SteelFitz)Photo by Michael Fitzgerald (@SteelFitz)Photo by Michael Fitzgerald (@SteelFitz)Photo by Michael Fitzgerald (@SteelFitz)Photo by Michael Fitzgerald (@SteelFitz)Photo by Michael Fitzgerald (@SteelFitz)Photo by Michael Fitzgerald (@SteelFitz)Photo by Michael Fitzgerald (@SteelFitz)Photo by Michael Fitzgerald (@SteelFitz)Photo by Michael Fitzgerald (@SteelFitz)
In the financial world, all eyes are on the Federal Reserve and the interest rate hikes they are about to impose in the name of tamping down inflation. Worth looking back at what that fight against inflation meant to Pittsburgh... 1/? 🧵
Image from 𝗰𝗵𝗿𝗶𝘀 𝗯𝗿𝗶𝗲𝗺 (@chrisbriem)
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Steelmaker SDI says to halt Russian #pigiron imports after May cargo | okt.to/vdfYLi
Image from Metals by S&P Global Energy (@SPGEnergyMetal)
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US #metals pricing has soared on geopolitical events, supply chain strains and overall uncertainty | okt.to/tHGNrU Russia, Ukraine accounted for 62% of American #pigiron imports in 2021. The war has removed significant supply of this feedstock for US-based steelmakers.
Image from Metals by S&P Global Energy (@SPGEnergyMetal)
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Commodities 2022: Vehicle makers face challenging year amid persistent chip shortage 🔸Chip supply expected to stabilize in 2023 🔸Chip makers' revenue far greater from smartphones than vehicles 🔸Automotive #steel demand rides on vehicle output rebounding okt.to/KsoBE6
Image from Metals by S&P Global Energy (@SPGEnergyMetal)
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Ternium USA to add second #steel coil coating paint line at Louisiana facility | okt.to/BJC4i1
Image from Metals by S&P Global Energy (@SPGEnergyMetal)
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Michael Fitzgerald retweeted
FT Commodities (@ftcommodities) profile picture
FT Commodities@ftcommodities30 Oct 2021
US and EU agree deal to ease tariffs on steel and aluminium on.ft.com/3nLrc6n
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The latest Insight magazine from S&P Global Platts examines industry efforts to meet climate goals through decarbonization and other solutions, while also preparing for demand and supply challenges in the years ahead. Download your copy here: plts.co/8GHn50Gs0aQ
Image from Metals by S&P Global Energy (@SPGEnergyMetal)
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Michael Fitzgerald retweeted
Adriana Carvalho (@IndeedAdriana) profile picture
Adriana Carvalho@IndeedAdriana27 Sep 2021
Usiminas halts blast-furnace 2 at Ipatinga after an incident Sept. 24. The shutdown may last 90-150 days, the company said. The company will resort on steel inventories and on purchased slabs to minimize the impact.
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Some US sheet buyers looking for import leverage in 2022 contract negotiations | #steel #metals * Contract renewal negotiations progressing slowly * Some domestic mills reported to offer minimal discounts in contracts @SteelFitz story: plts.co/w6F550FZM3m
Image from Metals by S&P Global Energy (@SPGEnergyMetal)
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Recovering #steel margins, strong China port prices set seaborne #ironore price up for further gains | plts.co/PO6C50Fapuf
Image from Metals by S&P Global Energy (@SPGEnergyMetal)
Image from Metals by S&P Global Energy (@SPGEnergyMetal)
Image from Metals by S&P Global Energy (@SPGEnergyMetal)
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Michael Fitzgerald retweeted
Will Kennedy (@wenkennedy) profile picture
Will Kennedy@wenkennedy13 Jun 2021
Transporting a 40-foot steel container of cargo from Shanghai to Rotterdam now costs a record $10,522, a whopping 547% higher than the seasonal average over the last five years. bloomberg.com/news/articles/…
Out-of-Control Shipping Costs Fire Up Prices From Coffee to Toys

Out-of-Control Shipping Costs Fire Up Prices From Coffee to Toys

The skyrocketing price of shipping goods across the globe may hit your pocketbook sooner than you think -- from that cup of coffee you get each morning to the toys you may want to buy for your kids.

bloomberg.com
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US #ferrous spreads blow up historical norms in post-#coronavirus recovery * Spreads between #steel prices, raw materials well outside historical levels * Mini-mills benefiting from pronounced spread between sheet prices and prime scrap @SteelFitz story: plts.co/PQMk50F8wUy
Image from Metals by S&P Global Energy (@SPGEnergyMetal)
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US Steel adding NGO electrical steel line at Arkansas mill by 2023 | #steel #metals * Mill will produce 200,000 st/year of NGO electrical steel * Production will target growing EV demand trends Full story: plts.co/f3eP50F6NWm
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The #PlattsGMA finalists have been announced! Visit plts.co/zYtp50EVumj to find out more
Image from Metals by S&P Global Energy (@SPGEnergyMetal)
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JSW Ohio signs HRC tolling agreement with ATI | #steel #metals * ATI to roll slab from Mingo Junction at Braddock HRPF * JSW restarted Ohio EAF in March @Justine_Coyne story: plts.co/vfDT50EEEj8
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Climb in US finished #steel prices expected to continue: Platts survey | #metals * Finished steel price sentiment reaches highest level since January * Mill respondents bearish on May production volume Full story: plts.co/HY5i50EBcfm
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China removes VAT rebate on #steel exports, cuts tax on raw material imports to zero | plts.co/12B450EAp3k 🔹Cuts import duty on #pigiron, #crudesteel, #recycledsteel to zero 🔹Ups export duty on high silicon steel, ferrochrome, foundry pig iron
Image from Metals by S&P Global Energy (@SPGEnergyMetal)
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#Tenairs to restart Pennsylvania melt shop, seamless pipe mill | #steel #metals * Operations idled in March 2020 * Company finalizing $15 million investment at Koppel @Justine_Coyne story: plts.co/PPVb50EpM1b
Image from Metals by S&P Global Energy (@SPGEnergyMetal)
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Cleveland-Cliffs completes scheduled Ohio blast furnace maintenance | #steel #metals * Scheduled work completed in 15 days * No update on No. 7 maintenance at Indiana Harbor @SteelFitz story: plts.co/8qCS50EcHuY
Image from Metals by S&P Global Energy (@SPGEnergyMetal)
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Multi-year price highs seen in the #metals complex are being driven by a number of factors including economic recovery, #energytransition needs and tight availability after COVID-19 supply chain disruption. By @CDavis_Metals | plts.co/FwpI50E8ANo #commodities #trade
Image from Metals by S&P Global Energy (@SPGEnergyMetal)
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