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American Metal Market (AMM) is an online provider of industry news and metal pricing information for the U.S. steel, nonferrous and scrap markets. Products include a daily publication available electronically, live news on the publication's website, a hard-copy magazine and a series of weekly newsletters covering niche markets.
In its fiscal 2023 year, it shipped 6.1 million short tons of steel to external customers; 84% of its sales were in the United States and 16% of its sales were from its facilities in Poland. [1] The company was founded in 1915 by Russian immigrant Jacob Feldman as American Iron & Metal Company, a scrap trading company. [2]
In 2008, 2009, 2015 and 2016 output fell in the majority of steel-producing countries as a result of the global recession. In 2010 and 2017, it started to rise again. Crude steel production contracted in all regions in 2019 except in Asia and the Middle East. India is the 2nd leading producer of iron and steel industries. [citation needed]
The industry argued that steel tariffs imposed in 2018 boosted steel prices, profits, and employment. They have also publicly called for stricter enforcement of trade laws and increased tariffs on steel-intensive products from China and Southeast Asia. [21]
UK food and drink prices rose by 19.2% in the year to March 2023, a 45-year high. [207] [208] On 3 August the BoE raised the interest rate to 5.25%, the highest since 2008. [209] The UK entered a technical recession in the final six months of 2023. [210] [211] Germany's inflation rate reached 11.7% in October 2022, the highest level since 1951 ...
In just one year, China's trade surplus with the US alone rose to $335.5 billion in 2021, up from $308.1 billion in 2020. [ 12 ] [ 13 ] The supply chain crisis is a major contributing factor in the 2022 United States infant formula shortage , [ 14 ] the tampon shortage [ 15 ] and various drugs shortages.
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Rising exports from 2023-2024 led to global oversupply, price drops, and tariffs, prompting China to halt new steel mill approvals and encourage overseas investments. China's central government has also worked to phase out unprofitable "zombie" companies while pushing for stricter environmental controls on steel production.