Category: Features

Dan Needham has been with Nucor for 24 years, and he said the key to that longevity has been the company’s culture.

Day one and two of SMU's Steel Summit 2024 are officially in the books. We covered a lot of ground, and the agenda sure did deliver.

Leading industry analysts on Monday discussed steel prices and how they will be impacted by trade policy, consolidation, mill discipline, November’s elections, and more.

Durgesh Singh of Magswitch Technologies is the recipient of the 2024 SMU NexGen Leadership Award.

Whether as a guitar player in a rock and roll band or as a high-powered executive at Steel Dynamics Inc. (SDI), it’s all about the team for SDI’s Barry Schneider.

Canada has announced a 25% tariff on Chinese steel and aluminum, along with a 100% tariff on Chinese EVs.

The big show is just about here. SMU Steel Summit will be getting underway on Monday. Where does the networking begin? I’d say at the airport. So don’t forget your business cards. And it can't hurt to wear a company golf shirt.

The utility industry has sounded the alarm over potential increases in Section 301 tariffs affecting solar photovoltaic cells, batteries and transformers. The Office of the US Trade Representative (USTR) and the White House have unveiled proposals to increase the current 7.5% tariffs to 25% after the end of this month. An announcement is pending.

The chair of China’s Baowu Steel Group recently predicted a “harsh winter” for the Chinese industry as it faces a structural economic slowdown and a property market crisis. As steel industries elsewhere know all too well, China’s “harsh winters” have an unfortunate tendency to blow back on them. 

Steelmaking raw material prices have moved in differing directions across August, a change of pace from the declines seen in June and July, according to SMU’s latest analysis.

The number of US drill rigs in operation ticked lower last week while Canadian activity increased, according to the latest data released from Baker Hughes. US rig counts have gone up and down since June, hovering near multi-year lows. Canadian activity has trended upwards since a mid-May seasonal low, rising to a five-month high last week.

American Iron and Steel Institute President and CEO Kevin Dempsey discusses the need for updated trade remedy legislation in the US.

Within the space of a few days, we'll all be leaving on a jet plane. That's not completely true. A couple of SMU staff in the Atlanta area will be driving to Steel Summit 2024. Still, the hour where we kick of conference is quickly approaching. In anticipation, we are providing one of our handy-dandy crosswords in honor of the event.

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.

Gentlemen (and women), start your engines. The Steel Summit 2024 train has left the station and is en route to Atlanta.

The global steel industry has been overshadowed by China’s surplus in steel supply, wreaking havoc in foreign markets.

More than 1,400 of you are now signed to attend Steel Summit – which kicks off next week at the Georgia International Convention Center (GICC) in Atlanta. We are very close to beating last year’s record attendance. So, if you’re on the fence, help us be part of steel history again – register here!

In Britain, the handwriting is on the wall. Are we reading the same writing in the US? Based on the pressures of addressing climate change and carbon emissions, British steel companies are facing a stark choice: Push for government subsidies to convert production from blast furnaces to electric furnaces - or go out of business in Britain.

SMU’s Steel Buyers’ Sentiment Indices moved in differing directions this week. Both indices have generally trended downward across 2024, but continue to indicate optimism among steel buyers.

SMU's latest steel buyers market survey results are now available on our website. Here are some key points that we think are worth your time.

Lead times for hot-rolled coil and plate have moved out a little, according to our latest survey data. Brett Linton has the details here. I think that might reflect some restocking and a host of fall maintenance outages – many of which are happening in September/October. But lead times aren't galloping away like some of the more bullish corners of the market might have hoped. And those for cold-rolled and coated products are largely unchanged.

Three out of four of our market survey respondents report that steel mills are open to negotiating new order prices this week, a slight decline compared to our previous market check.

Steel buyers continue to report short mill lead times for both sheet and plate products, according to SMU's latest canvass of the market. Lead times for hot-rolled and plate products marginally increased from our late July survey, likely due to limited restocking in anticipation of upcoming mill outages for scheduled maintenance.

This Premium analysis covers North American oil and natural gas prices, drilling rig activity, and crude oil stock levels. Trends in energy prices and rig counts are an advanced indicator of demand for oil country tubular goods (OCTG), line pipe, and other steel products.

US hot-rolled (HR) coil prices are nearly even with prices for offshore material on a landed basis as domestic tags continue to inch up.

The Trade Remedies Authority (TRA) in the UK has proposed raising the tariff rate quota (TRQ) for imports of hot rolled sheet steel because of blast furnace closures at the Port Talbot works in south Wales. Tata Steel shut down one BF in July with the second to follow in September ahead of a switch […]

Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact info@steelmarketupdate.com. Flat rolled = 64.2 shipping days of supply Plate = 60.9 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers grew in July with restocking as […]

The countdown is on! In less than two weeks, we’ll kick off the 2024 SMU Steel Summit. This year is poised to be the best attended yet. More than 1,350 delegates have already registered – so we’re within sight of last year’s record number of nearly 1,450. I’m looking forward to learning from executives across […]

The Department of Commerce issued the p antidumping and countervailing duties (AD/CVDs) on corrosion-resistant steel products (CORE) from South Korea.

The European Commission has initiated a trade case investigating allegedly dumped hot-rolled coil imports from Egypt, India, Japan, and Vietnam. The European Steel Association (EUROFER) filed the complaint in June, according to an Aug. 8 notice in the Official Journal of the European Union.