Category: Analysis

What to look out for regarding ferrous scrap ahead of Steel Summit.

Drilling activity increased in both the US and Canada for the week ended July 18, according to the latest data from Baker Hughes.

Section 232 tariffs have doubled to 50%. Reciprocal tariffs rates remain uncertain. But while prices have softened on even softer sentiment, tariffs have firmed the floor.

US housing starts recovered slightly in June after reaching a five-year low the month prior, according to figures recently released by the US Census Bureau.

Tariff threats on Brazil aren't just hitting steel products. Aluminum is also feeling the heat.

Cold-rolled (CR) coil prices continued to tick lower in the US this week, with a similar trend seen in offshore markets.

Chinese steel export prices are expected to rise and support prices across most of Asia in the coming month. In Europe, buyers are likely to frontload import orders ahead of CBAM imposition, while new trade agreements are likely to emerge in the US. Steel prices in the APAC are expected to rise, except in India […]

We have a special addition to the agenda of this year's SMU Steel Summit that I’m excited to announce today. U.S. Steel President and CEO David Burritt will speak on the opening day of the Summit about the partnership between the iconic Pittsburgh-based steelmaker and Nippon Steel.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

All districts reported “experiencing modest to pronounced input cost pressures related to tariffs, especially for raw materials used in manufacturing and construction.”

Stateside prices continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.

The volume of finished steel entering the US market remained elevated in May, in line with April figures, according to SMU’s analysis of Department of Commerce and American Iron and Steel Institute (AISI) data

Flat rolled = 55.8 shipping days of supply Plate = 59.4 shipping days of supply Flat rolled US service centers’ flat-rolled steel supply edged down in June with a modest boost to shipments month on month (m/m). At the end of June, US service centers carried 55.8 shipping days of flat roll supply, down from […]

Is outer space steel's final frontier?

US sheet and plate prices were flat or lower as reduced import volumes were offset by so-so demand.

Turkish scrap prices were unchanged week over week (w/w), with HMS and Shredded grades assessed at $340 and $355 per metric ton (mt) CFR, respectively.

Nucor is holding its list price for spot hot-rolled coil at $910 per short ton (st), unchanged since June 30.

President Trump’s tariff policies have a lot more in common with a roundabout than you’d think.

A roundup of steel industry news that happened this week, as reported by Steel Market Update.

Both current and future scrap sentiment jumped this month, though survey participants reported responses before key trade news was announced.

Heating and cooling equipment shipments grew from April to May, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).

CRU Principal Analyst Shankhadeep Mukherjee expects a restocking cycle for steel sheet products in most parts of the world due to either low inventories or seasonally stronger demand.

The commercial vehicle sector is showing signs of fatigue, but you wouldn’t know it at first glance of the latest government figures.

The price spread between prime scrap and hot-rolled coil widened marginally again in July.

US oil and gas drilling activity continued to decline for the 11th consecutive week, while Canadian counts climbed for the sixth week in a row, according to the latest data from Baker Hughes.

SMU’s Steel Buyers’ Sentiment Indices moved in opposite directions this week. After rebounding from a near five-year low in late June, Current Sentiment slipped again. At the same time, Future Sentiment climbed to a four-month high. Both indices continue to show optimism among buyers about their company’s chances for success, but suggest there is less confidence in that optimism than earlier in the year.

SMU’s ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “ferrous scrap survey” results. Past scrap survey results are also available under that selection. If you need help accessing the survey results […]

SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]

The difference: The spat with Turkey was a big deal for steel. This time, the 50% reciprocal tariff for Brazil – if it goes into effect as threatened on Aug.1 – hits everything from coffee and to pig iron. It seems almost custom-built to inflict as much pain as possible on Brazil.

Mill lead times for sheet products were steady to slightly longer this week compared to our late June market check, while plate lead times contracted, according to steel buyers responding to this week’s market survey.