Analysis
February 21, 2026
Written by Ethan Bernard
This week’s Friday surprise came from the US Supreme Court and its decision to rule again President Trump’s International Emergency Economic Powers Act (IEEPA) tariffs.
POTUS was quick to respond, threatening a new set of tariffs. One crucial thing to keep in mind: None of this drama impacts Section 232 steel tariffs, which remain in place.
The US Department of Commerce has preliminarily determined that critical circumstances exist in the countervailing duty (CVD) investigation of imports of large-diameter graphite electrodes (LDGEs) from China.
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.