Category: Features

We have highlighted a few significant moment in steel history in our last few Final Thoughts crosswords. This week we decided to dedicate the entire crossword to history.

Steel imports jumped from March to April and are looking nearly as strong for May, according to updated Census data released earlier this week.

The US OCTG Manufacturers Association (USOMA) announced that the US Customs and Border Protection (CBP) agency made an initial affirmative determination of duty evasion practices.

Reibus International Inc. is a growing and maturing company, finding its way in the world of steel. Like any youngster, it is moving through growing pains and pushing through to reach new heights. After rapid growth in its infancy, six-year-old Reibus is now naturally transitioning from being a founder-led company to a management-led one, according to its new leader, Jared Rowe.

The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]

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

Let's take a collective deep breath ::in:: and ::out::... And we're back. But where exactly are we? Are steel prices going up or down? Is demand really decelerating or is it an illusion? How is the market navigating the new mill pricing mechanisms?

Steelmaking raw material prices have moved in different directions over the past month, according to SMU’s latest analysis.

In conjunction with President Biden’s visit to Vietnam in September 2023, Vietnam’s government petitioned the US Department of Commerce (DOC) for “market economy” treatment. This would be a major trade concession, as DOC has recognized for years that Vietnam’s economy does not operate according to market principles. However, graduating Vietnam to market economy status would […]

Here’s something I didn’t expect to see this week: SMU’s Current Buyers’ Sentiment Index dropped to its lowest point since August 2020.

Hot rolled buyers found mills less willing to negotiate spot pricing this week, while other products SMU tracks were mixed, according to our most recent survey data.

Steel Market Update will be taking time off in observance of Memorial Day.

Lead times on most steel products tracked by SMU held steady or contracted this week compared to two weeks earlier, according to our latest market survey.

SMU’s Steel Buyers’ Sentiment Indices both plummeted over 10 points this week, both hitting lows for 2024, according to our most recent survey data.

From integrated to EAF, from hot-dipped galv to cold-rolled sheet, to the reputable vacuum tank degasser, the steel industry definitely has its own jargon. And we know our readers know that lingo backwards and forwards. Rather than test you on it, we thought we'd do something different.

Steel prices eased for both sheet and plate products this week, according to our latest canvass of the market

The CRU US Midwest hot-rolled (HR) coil index is a dominant and established price benchmark in the US. Many steel-buying contracts are linked to ‘the CRU,’ as it’s commonly called. But how does it work?

Sometimes even in a bit of chaos there is complacency. And it seems that since March 2020, “a bit of chaos” has been the order of the day. That means in the world at large, and in steel specifically.

The free market operates best when it is freest. But all governments intervene in markets in response to conditions that threaten peaceful progress. President Biden decided last week that market intervention was justified. He approved a report from the US Trade Representative (USTR) that recommended continuing the “Section 301” tariffs on Chinese imports into the United States.

The USMCA should be strong enough to handle trade disagreements on steel between the US and Mexico, according to the American Iron and Steel Institute’s (AISI’s) Kevin Dempsey.

Non-refillable steel cylinder imports from India are subject to new antidumping and countervailing duties (AD/CVD).

SMU had the pleasure of attending the American Iron and Steel Institute's (AISI's) annual general meeting in Washington this week. It was a slow week in our nation's capital, so we were able to take a leisurely stroll around the National Mall and take in the sights. Just kidding. In fact, the meeting coincided with significant trade actions announced by the Biden administration. It included, among other things, additional tariffs on Chinese steel and aluminum.

US hot-rolled (HR) coil prices saw further declines this week, while foreign prices were steady to slightly higher in the three regions we monitor

Veteran StoneX futures broker Spencer Johnson will be the featured speaker on the next SMU Community Chat on Wednesday, May 29, at 11 am ET. You can register here. Note that the live webinar is free for all to attend. A recording will be available only to SMU members.

Following the announcement earlier this week that the US will hike import tariffs on Chinese goods, including steel and aluminum, Canada’s steel industry called on its government to consider similar tariffs.

SMU surveyed our market contacts this week about steel prices, demand, and the overall marketplace. Below are some of the buyers' responses in their own words to help you get a feel for current and future market conditions. Demand is a big topic of discussion currently. Is it steady, falling, or on the upswing with summer construction heating up? As you can see from the answers below, it depends on who you ask. One buyer’s response sums it up pretty well: “I still see the marketplace as soft/stable with some segments busy, while others tread water.”

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 = 57.8 shipping days of supply Plate = 58.3 shipping days of supply Flat Rolled US service center flat-rolled steel supply edged lower in April, though shipments continue to […]

The Canada Border Services Agency (CBSA) has completed its portion of an expiry review of the antidumping duty orders on welded standard pipe from Pakistan, the Philippines, Turkey, and Vietnam.

The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]

Our spot price is little changed this week after moving sharply lower last week on the heels of Nucor’s unexpected price cut. Here’s one thought on that trend: Nucor's weekly HR price (aka, its “Consumer Spot Price” or CSP) has to date functioned almost more like a monthly price.