Category: Features

Sheet steel buyers continue to report that mills are willing to talk price on new orders, according to our most recent survey data collected this week.

Steel mill lead times remain short according to our latest market canvass of steel service center and manufacturer buyers. Of the sheet and plate products SMU tracks, production times for all materials are nearing historical lows not seen in months or years.

There are just 40 days left until the 2024 SMU Steel Summit gets underway on Aug. 26 at the Georgia International Convention Center (GICC) in Atlanta. And I’m pleased to announce that it's official now: More than 1,000 people have registered to at attend! Another big development: The desktop version of the networking app for the event has officially launched!

The American Iron and Steel Institute (AISI), American Institute of Steel Construction (AISC), and the University of Massachusetts at Amherst have received a grant to enhance emissions reporting for steel construction projects.

US raw steel mill production ticked up to 7.57 million short tons (st) in May, a 4% increase from the prior month, according to recently released American Iron and Steel Institute (AISI) data

Flat Rolled = 60.9 Shipping Days of Supply Plate = 59 Shipping Days of Supply Flat Rolled US service center flat-rolled steel supply remained high at the end of June at 60.9 shipping days of supply, according to adjusted SMU data. This translates to 3.05 months of supply in June. At the end of May, […]

Domestic raw steel production rebounded from a five-month low last week, according to the latest release by the American Iron and Steel Institute (AISI). Production now stands at the highest recorded weekly rate since the first week of June.

There are a lot of rumors swirling around the steel market over the last couple of weeks. Chief among them was that we might see a price hike after Independence Day. Another concerns a key detail in the new Section 232 agreement with Mexico. Namely, steel imported from Brazil into Mexico. Of particular interest is its potential implication for slabs imported from Brazil, rolled in Mexico, and then exported to the US.

Steel is, mostly for historical reasons, a bellwether of international policy. No longer an industry of primary importance, its advocates still proclaim that it is. And steel still continues to punch above its weight in Washington, DC. Below are a few recent examples.

Two veteran investment bankers joined SMU's Community Chat on Wednesday, July 10, to talk consolidation and M&A in the metals industry.

Shipments of heating and cooling equipment bounced back in May, according to the latest data released from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).

US drill rig activity resumed its downward trend last week, while Canadian counts increased to a four-month high, according to the latest data release from Baker Hughes.

We’ve taken some time to supply you with some handy-dandy production figures for 2024 presented in a unique way.

Reibus International Inc. CEO and Chairman Jared Rowe will be the featured speaker on the next SMU Community Chat webinar. The webinar will take place on July 24 at 11 am ET. You can register here. The live webinar is free for all to attend. A recording will be available only to SMU members.

Renewable energy infrastructure, including wind turbines, solar farms, and electric-vehicle charging stations, requires substantial amounts of steel. The domestic steel industry, with its capacity to produce world-class steel with the world’s smallest carbon footprint, should be at the forefront of this supply chain. Yet the United States is increasingly importing steel from abroad to meet its renewable energy needs.

The Mexican government said on Thursday that it had negotiated a temporary carve out for Brazilian steel in recently updated Section 232 rules. Mexico said that the pact would stretch until 2027, by which point all steel exported to the US would have to me “melted and poured” within North America.

The volume of finished steel entering the US market, dubbed ‘apparent steel supply,’ ticked up 3% from April to May according to SMU analysis of Department of Commerce and the American Iron and Steel Institute (AISI) data.

The US and Mexico announced measures on Wednesday to prevent tariff evasion and protect North America’s steel and aluminum industries.

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 […]

Three steel trade groups and United Steelworkers (USW) union held an event on Capitol Hill urging action on strengthening legislation against unfair trade.

US steel imports registered a steep decline from May, with June licenses falling to the lowest monthly level so far this year.

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.

Flat-rolled steel prices have been largely falling since the beginning of the year. Even after a slight bump in early April when mills tried to halt the downtrend, the decrease resumed.

Steel trade associations applauded the introduction of the “Prove It Act” into the House of Representatives on Monday.

Following April’s eight-month high, May represents the second-lowest export rate of the year, only greater than January’s 771,000 st level.

Domestic raw steel production tumbled last week to the lowest rate seen in five-months, according to the latest release by the American Iron and Steel Institute (AISI).

The volume of steel shipped into Vietnam more than doubled in May to 1.1 million (mt), with China’s share above 70%, according to customs’ statistics. In the first five months, Chinese imports were more than 4.7 million mt, an increase of 91% year on year.

Canada’s industry minister Francois-Philippe Champagne has conditionally allowed a Glencore-led consortium to acquire Teck’s Elk Valley Resources (EVR) metallurgical coal business for $6.9 billion. He also raised the bar for foreign companies wanting to buy into the country’s critical mineral resources.

First off, we hope everyone had a safe and happy July 4th holiday, with fireworks seen and BBQs attended. Many parts of the country are quite toasty at the moment, signaling that, yes, summer has indeed arrived. And looking at our most recent survey results, the summer doldrums have arrived as well.

The latest SMU 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.”