Integrated steelmaker US Steel today has joined two of its competitors with increasing its flat steel prices by $100/short ton (st).

The Argus weekly domestic US HRC Midwest and southern assessments both rose by $50/st to $900/st on Tuesday.

In the week ending on February 18, 2023, domestic raw steel production was 1,654,000 net tons while the capability utilization rate was 74.0 percent.

Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,186,000 net tons (NT) of steel in December 2022.

This was a 9.8% increase from the 2,262,000 permit tons recorded in December and a 12.7% increase from the December final imports total of 2,203,000.

A comparison of shipments for the full year 2022 to full year 2021 shows the following changes: corrosion-resistant sheet and strip down 8 percent, hot rolled sheet down 10 percent and cold rolled sheet down 15 percent.

Brazilian iron-ore miner Vale SA's profit fell in the fourth quarter after the price of iron ore and sales by volume both declined.

Russia plans to post a budget deficit in 2023 of 2% of gross domestic product (GDP), Finance Minister Anton Siluanov said on Friday, despite towering spending and slumping energy revenues contributing to a huge shortfall in January.