Analysis
May 29, 2025
Written by Ethan Bernard
My last Final Thoughts saw me writing that we would have to wait a bit longer to see the outcome of the U.S. Steel/Nippon deal. Of course, President Trump announced that the deal was approved the next day. But was it? Kind of, seems to be the word on the street.
SMU Editor-in-Chief Michael Cowden explored this a bit on Tuesday, quipping: “Is the deal really a deal this time?”
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.
The scrap market for October is looking for direction as some participants on both sides of the furnace are indicating scrap prices are poised for an increase.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.