Category: Features

Steel buyers found mills more willing to negotiate spot pricing this week on all products SMU tracks with the exception of Galvalume, according to our most recent survey data.

When you step out of the airport in Phoenix in June, the heat tends to focus your mind. I was in town to attend the Steel Manufacturers Association/Metals Service Center Institute (MSCI) annual meeting in Scottsdale, Ariz. The desert locale with palm trees, swimming pools, and the obligatory high-powered air conditioning was fitting for 2024. Between the presidential election and the geopolitical situation, things have definitely been heating up.

President Joe Biden announced that the US will extend the suspension of Section 232 tariffs on steel products imported from Ukraine for another year. The Biden administration first lifted the 25% Section 232 tariffs on steel imports from Ukraine after the breakout of war with Russia in 2022. The initial waiver was good for one […]

The Steel Manufacturers Association (SMA) has named Brandon Farris as vice president of government affairs

There seems to be more question than usual about which way prices will go over the next few weeks. There is talk in some corners that Nucor’s announced $760 per short ton (st) for HR through mid-May, and subsequent increases marked a public attempt to call a price bottom. (Our price announcement calendar here is […]

We’re just a few months away from SMU’s Steel Summit 2024 – North America’s premier flat-rolled steel conference.

Hot-rolled coil prices are known for their volatility. There are a variety of hedging strategies industry players have used to manage it, one of them being the use of HRC futures. However, some have been hesitant to dip in their toe, and their money, in futures and have preferred other approaches.

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