Category: Analysis

US scrap prices came in flat on busheling in April, while shredded and HMS both traded down, sources told SMU.

U.S. Steel and the United Steelworkers filed anti-dumping and countervailing duty petitions with the US Department of Commerce and the US International Trade Commission on Thursday.

The pig iron market in Brazil continues to rise, despite US scrap prices trading sideways to down for April.

The Middle East conflict continues to be the principal factor in rising prices, as its impact is now being felt throughout the supply chain. Coated sheet prices have borne the larger brunt of the impact. This is despite...

The world definitely seems like a more dangerous place these days. And, of course, when national security is invoked, the steel industry always plays a key role.

The trade case investigating large-diameter graphite electrodes is progressing after an International Trade Commission (ITC) vote.

The US scrap market has largely settled at prices most predicted in late March. The prevailing view then: shredded and other obsolete grades, like HMS, would drop $10-20 per gross ton (gt) despite higher transportation costs. And prime grades, like #1 busheling and bundles, would trade sideways thanks to better demand and static supply. This is essentially what has happened.

The US Court of International Trade (CIT) has upheld the Commerce Department’s decision to apply adverse facts available to Nippon Steel in the 2018-2019 administrative review of hot-rolled steel from Japan.

SMU survey respondents sound off on a host of issues affecting the steel industry.

More people expect hot-rolled (HR) coil prices to continue to climb. And most respondents to our last survey predict that prices will hit or even breach the $1,100 per short ton (st) threshold.

The president’s April 2 proclamation restructures how derivative products are classified, valued, and tariffed – a shift that industry groups say will close loopholes but could raise costs for certain downstream imports.

The petitions allege that foreign producers are selling seamless and welded OCTG at unfairly low prices and, in Austria’s case, benefitting from countervailable subsidies.

A Lake Carriers’ Association (LCA) official said iron ore shipments would be delayed by a few weeks on the Great Lakes because of winter weather and a lack of icebreakers. 

SMU’s Steel Buyers’ Sentiment Indices have both inched up, according to our most recent survey data.

If I had to sum it up, I’d say “pain at the pump” is back. AAA says gasoline now averages more than $4 per gallon nationally ($4.08 to be precise) for the first time in for years. Meanwhile, diesel prices average $5.40 per gallon, according to the US Energy Information Administration. That’s up $1.81 per gallon from a year ago.

The price gap between US hot-rolled coil (HR) and landed offshore product tightened this week.

Steel mill production times for sheet and plate products remain at or near multi-year highs, according to buyers responding to our latest market survey.

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

The Trump administration has implemented changes to its steel and aluminum tariff framework that alter how duties are applied to imported manufactured goods, according to an April 2 presidential proclamation.

Most steel buyers report that mills are not willing to negotiate on new order spot prices, according to our latest market survey. Mill negotiability is now down to one of the lowest rates measured in over a year.

The Commerce Department has launched another duty circumvention inquiry targeting coated steel imports at the request of two US mills.

What impact could the war in Iran have on the steel raw materials supply chain and prices?

Sheet and plate prices were flat or modestly higher this week, continuing a trend we’ve seen since the beginning of Q4. The big question: How much longer can the trend hold?

Winter is over now and the scrap landscape is looking a bit less challenging.

The Chicago Business Barometer eased in March, after growing repeatedly from December to February, according to MNI and ISM.

Could we see prices continue to inch higher, plateau, and then start to slide back? A lot hinges on whether and how long it takes mills to catch up on orders.

With global capacity projected to increase by 138 million mt by 2028, the gap between capacity and demand will continue to grow over the next three years. And that assumes the conflict in Iran does not stifle global demand.

Prices for iron ore, aluminum, pig iron, and shredded scrap have all risen in the last 30 days. Busheling scrap held steady, while zinc and coking coal declined.

CR imports from Germany, Italy, and Japan on a landed basis remain much more expensive than domestic product. But South Korean imports remain competitive, in theory, even with the 50% Section 232 tariff.

AMU's March survey results show lead times remaining extended as supply tightness persists, even as import competitiveness declines and logistics costs increase.