Analysis
November 26, 2024
Written by Michael Cowden
And so it begins (again). President-elect Donald Trump has threatened to impose tariffs of 25% on all imports from Canada and Mexico.
He also threatened to hit all imports from China with tariffs of 10% – an amount that would come on top of a boatload of pre-existing duties and tariffs.
SMU’s Steel Demand Index rose to 69.5 in mid-September, its highest reading in more than five years.
SMU’s Mill Order Index (MOI) accelerated in August for a fourth consecutive month, reaching its strongest reading in nearly five years.
Worthington Enterprises reported higher fiscal first-quarter sales and earnings while citing rapidly growing data center demand and continued tightness in the steel market.
Sheet and plate prices continued to tick mostly higher this week amid a supply squeeze that shows no signs of loosening its grip on the US market.
This October, SMU is introducing a new way to keep you informed on the latest steel market news and insights: the Daily Digest. Beginning in mid-October, our new Daily Digest will replace the three newsletters currently delivered each week.