Analysis
March 10, 2026
Final Thoughts
Written by Ethan Bernard
Sometimes it feels like current events are like a fireworks show that got set off all at once by mistake. In all the commotion, it’s hard to know where to look… or where to run. From tariffs to war, from the price of oil to the health of the stock market, you never know what surprise each day is going to bring.
Still, I feel like the momentum has shifted. Massive unpredictability is baked into the way we are doing business. We have a more measured view of the tariff situation, perhaps not even having to sit down before reading a Truth Social post. We can deal with it. Likewise, with geopolitical uncertainty and active conflicts, we know we have to keep getting up in the morning and heading into the office. Or at least walking into the home office and turning on the computer.
Turning away from the mainstream headlines, there are plenty of positive signs for the US steel industry. Increasing prices for one thing, depending if you are buying or selling.
On a wider scale, I recently wrote about how the US passed Japan in steel output for the first time in 26 years in 2025, according to the World Steel Association. And both the Steel Manufacturers Association (SMA) and American Iron and Steel Institute (AISI) were bullish that this was a trend more than a blip. Climbing to the number three position in the world shows steel is a key ingredient in the American economy.
Sumitomo in Pittsburgh
Another thing that might’ve slipped under the radar is that Japan’s Sumitomo Corp. will establish a new office in Pittsburgh under Sumitomo Corp. of Americas next month.
As for the company’s reasoning, it cited in a statement the US “manufacturing renaissance and efforts to strengthen supply chain resilience, the trend toward ‘local production for local consumption’ in steel products has been gaining further momentum.”
“Across a wide range of industries—including automotive, construction, energy, and infrastructure—there is an increasing need for regionally integrated supply systems,” the company added.
And the selection of Pittsburgh was not accidental, with Sumitomo pointing to the city’s “strategic significance.” The company noted Pittsburgh “historically operated as a central hub of the US steel industry and remains an important market where numerous steel manufacturers, processors, and related industrial companies are concentrated.”
The Japanese trading conglomerate is no stranger to the US market, with Tennessee-based service center chain SteelSummit Holdings a Sumitomo Group company, among other holdings. But the expansion seems to be a bet on the importance and opportunities in the US market.
The company believes the move “will strengthen our business platform as an integrated trading company by leveraging both our existing locations and the newly established Pittsburgh office.”
Steel 101 in Mexico
So whatever is happening on the tariff front, and global unrest aside, international trade and cooperation continue. That’s why it’s so exciting our next Steel 101 training will be in Monterrey, Mexico, next week. (You can still register here.)
The USMCA agreement may be up for review, but cross-border relationships keep on trucking, shipping, and sometimes even railing.
Besides classroom instruction, the training includes an exclusive mill tour of Latin American steelmaker Ternium’s state-of-the-art, world-class complex in Pesquería.
Yes, despite all the uncertainty, here at SMU we remain excited about all the opportunities in steel – both here and abroad. And, as always, we thank you for all your support.
