Category: Features

Nucor’s top executive Leon Topalian has been elected vice chair of the World Steel Association (worldsteel) for the 2024-25 time period.

Flat rolled = 60.8 shipping days of supply Plate = 52.7 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers declined in September, though still seasonally high. September’s report reflects lower demand, stable lead times, and restocking early in the third quarter at a perceived bottom in prices. At the end […]

Domestic raw steel mill production slightly recovered last week, according to the latest figures released from the American Iron and Steel Institute (AISI).

Ankara has placed anti-dumping duties of ranging from 6.10% to 43.31% on hot-rolled steel sheet from China, India, Japan, and Russia. Meanwhile, Malaysia has announced it will investigate allegedly dumped steel wire rod from China, Indonesia, and Vietnam.

Everybody has an opinion about politics these days. More importantly for our readers, though, every business has a bottom line. A popular question in our most recent steel buyers survey asked how uncertainty around the upcoming US presidential election could affect that line.

The Global Forum on Steel Excess Capacity (GFSEC) reaffirmed on Oct. 8 what domestic steel producers have long known—the threat of excess steel capacity never disappeared and is evolving. China’s steelmakers are boosting capacity and exports, echoing the 2016 global steel crisis. There is no doubt that China is successfully weaponizing excess capacity across many industries, and the fatal damage to domestic production and national security undermines the interests of all market-oriented countries. The question now is: How will GFSEC countries respond?

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 […]

SMU’s next Community Chat webinar will feature Barry Zekelman, executive chairman and CEO of Zekelman Industries – the largest independent steel pipe and tube manufacturer in North America. The webinar will be on Wednesday, Oct. 16, at 11 a.m. ET. It’s free to attend. A recording will be available only to SMU subscribers.

The American Iron and Steel Institute (AISI) this week named two new board members: Neil Tannyan of Hatch and Doug Dunworth of SMS Group.

SMU’s Steel Buyers’ Sentiment Indices moved in different directions this week. Our Current Steel Buyers’ Sentiment Index eased to a six-week low, while Future Buyers’ Sentiment ticked up to a four-week high. Both of our Indices continue to indicate optimism among steel buyers.

I’m trying to make sure this is not a TL;DR Final Thoughts. As a journalism school professor once told me, ‘No one but your mom reads more than 1,000 words.’ Also, as the old adage goes, a picture is worth a thousand as well. With that in mind, below are a couple of charts that I think go a long way toward explaining how prices and lead times have been relatively stable despite concerns about demand.

Steel mill lead times inched up this week for most sheet and plate products, according to buyers responding to our latest market survey.

Negotiation rates have consistently been in the 70-80% range for over two months, relatively strong in comparison to levels seen across the past year.

The building that was once the headquarters of AK Steel is again up for sale.

It’s another week of big headlines for the world writ large – an expanding war in the Middle East, another potentially catastrophic hurricane – and not much going on in the world of steel prices. “Call me Stevie Wonder, I see nothing.” That’s how one service center executive described the current sheet market. There seems to be almost a competition among some of our Community Chat guests and contributors to outdo each other in flowery ways to say, “

Steel sheet and plate prices moved lower this week as efforts among some mills to hold the line on tags ran up against continued concerns about demand.

Richard Fruehauf, formerly of U.S. Steel, has been named chief venture officer of robotics and AI firm Carnegie Foundry.

The US has banned imports from a subsidiary of the world’s largest steelmaker because it is allegedly using forced labor to produce steel products.

Surprise, surprise. Forget Halloween, the trend this October is all around the unexpected. Known as the “October Surprise,” you never know what is in store for you in the month before a US presidential election. Still, if we pull back the dial back date-wise a little bit, a familiar theme has been added to the mix: kick the can.

China is challenging Canada’s decision to put tariffs on imports of Chinese steel, aluminum, and electric vehicles.

US drilling activity remains near multi-year lows, while Canadian counts increased to one of the highest levels recorded in seven months.

Another day, another massive gap between the news and market sentiment. On the news side, we’ve got war in the Middle East. The devastation facing western North Carolina coming into tragic focus. And the outcome of the presidential election remains a coin toss, according to current polling.

It’s been a little over a year since our last Community Chat with Flack Global Metals (FGM) founder and CEO Jeremy Flack. Though he described the current steel market as “boring” and “not so much fun,” it’s been an exciting year for the company, and there was no shortage of topics to discuss.

SMU’s monthly review provides a summary of important steel market metrics for the previous month. This latest report includes data updated through Sept. 30.

The United Steelworkers (USW) union has named Kevon Stewart to be director of District 6, which represents members in Ontario and Atlantic Canada. The USW said that appointment was effective on Oct. 1. It also noted that Stewart became the first black district director in the union – not only in Canada but in the United States as well.

Join SMU’s next Community Chat webinar with Barry Zekelman, executive chairman and CEO of Zekelman Industries – the largest independent steel pipe and tube manufacturer in North America. The webinar will be on Wednesday, Oct. 16, at 11 a.m. ET. It’s free to attend. A recording will be available only to SMU subscribers.

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.

There are markets where the headlines and the prices are both crazy. This does not appear to be one of them, at least not yet.

Flack Global Metals (FGM) Founder and CEO Jeremy Flack will sit down with SMU for a Community Chat webinar on Wednesday, Oct. 2, at 11 am ET. The live webinar is free for anyone to attend. A recording will be available only to SMU subscribers.

Domestic raw steel mill production declined last week to levels not seen since early last year, according to the latest figures released from the American Iron and Steel Institute (AISI).