Category: Features

Canada’s steel and aluminum industries joined forces to call on the government for the imposition of tariffs on steel, aluminum, and electric vehicles.

I asked in a prior Final Thoughts where some of you thought Nucor’s weekly spot HR price would land. One opinion: $720 per short ton (st). That would allow the Charlotte, N.C.-based steelmaker to one up competitor Cleveland-Cliffs and to re-establish its position as a market leader.

A long-awaited reconsideration of the status of Vietnam as a “non-market economy” was completed by the Commerce Department earlier this month. Hundreds of companies, associations, and politicians weighed in on the question. On Aug. 2, Commerce released its conclusions in a 248-page memorandum, deciding that Vietnam remains a non-market economy (NME) under the US antidumping law. But what are the implications for Vietnam and for other countries with the same status?

The Court of International Trade (CIT) has ruled against BlueScope Steel and its affiliates' challenge of a sunset review of the antidumping duties on hot-rolled (HR) steel flat imports.

Total US steel exports declined again in June, down 2% month-on-month (m/m) to 773,000 short tons (st) according to the latest US Department of Commerce data.

June steel import data was finalized at 2.15 million short tons (st) this week, down 24% from May according to the latest US Commerce Department release. June represents the lowest monthly import rate seen this year. July import licenses now tally up to 2.29 million st as of Aug. 4, potentially recovering 6% from June. […]

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.

SMU has adjusted its sheet momentum indicator from neutral to higher for the first time since early April. The shift comes on the back of price hikes for leading sheet mills Nucor and Cleveland-Cliffs.

The United Steelworkers (USW) union has praised Vice President Kamala Harris’ choice of Minnesota Gov. Tim Walz (D) as her running mate. 

Domestic steel mill output eased last week for the second consecutive week, according to the latest release by the American Iron and Steel Institute (AISI). Although production has declined, it remains relatively on the high side compared to rates seen across this year.

It might be the dog days of summer. But it’s been a newsy week for steel. Let’s start on the trade front, where we had a big decision in a case before the Commerce Department about Vietnam’s market status. Ethan Bernard covered the news. Commerce determined that Vietnam remained a “non-market economy,” or NME, based on factors such as government control over private property, labor conditions, and one-party rule. What’s also notable, and which Wiley trade attorney Alan Price points out in a good column on the matter, is that Commerce’s decision cannot be appealed.

The US Commerce Department on Friday released its determination confirming that the Socialist Republic of Vietnam continues to function as a non-market economy (NME). The department’s decision represents a significant victory for domestic manufacturing. It is also critical to leveling the playing field for US industries and will support greater opportunities for growth and fair trade in the United States. The government of Vietnam had requested that Commerce reconsider its NME designation. It argued that Commerce Secretary Gina Raimondo had pledged to support the changing of its status to a market economy.

SMU’s Monthly Review articles summarize important steel market metrics for the prior month. Our July report contains figures updated through July 31.

The US Department of Commerce has announced its determination that Vietnam will keep its classification as a non-market economy (NME) country.

The construction sector added 25,000 jobs in July, driven by improved wage gains according to the Associated General Contractors of America (AGC).

Following an uptick in mid-July, SMU’s Steel Buyers’ Sentiment Indices both eased this week. Current Buyers Sentiment has been see-sawing for the past few months, now back down to one of the lowest readings recorded since August 2020.

US drill rig activity resumed its downward trend last week according to the latest data from Baker Hughes. Meanwhile Canadian counts ticked higher for the fifth consecutive week. They now stand near a five-month high.

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.” Historical survey results are also available under that selection. If you need help accessing the survey results, or if your […]

Long seen as being dominated by iron ore operations in Western Australia, diversified miner Rio Tinto is at an inflection point in its growth, according to CEO Jakob Stausholm, who referred to a step change from its aluminium business and consistent iron ore production at Pilbara. “We have considerable growth in cash flow from the […]

A look back at the evolution of the SMU Steel Summit conference through the eyes of long-time SMU employee Brett Linton.

Buyers continue to report very short mill lead times on sheet and plate products, according to our latest market canvass of steel service center and manufacturer executives

Steel buyers of sheet products say mills are still flexible on spot pricing this week, though less so than two weeks prior, according to our most recent survey data.

US manufacturing activity contracted for a fourth straight month in July, as reported in the latest release from the Institute for Supply Management (ISM). The Index has indicated contraction in the manufacturing sector for 20 of the last 21 months.

SunCoke Energy Inc.’s earnings improved in the second quarter, with the company citing strong performances in its coke-making and logistics segments.

What a difference a week makes! SMU has shifted its sheet momentum indicators from “lower” to “neutral”. And we’ll be on the lookout for evidence of higher prices in the weeks ahead.

Pennsylvania Governor Josh Shapiro has come out against Nippon Steel’s proposed buy of U.S. Steel because it doesn’t have union support, according to media reports.

Former U.S. Steel executive Kenneth Jaycox is moving from steel to the automotive parts industry.

When we last talked to Jared Rowe in May, he had just been appointed Reibus International's new CEO and chairman of the board. Now two months into the job, SMU caught up with him on our July 24 Community Chat for the latest on the online metals marketplace.

Domestic raw steel production eased last week following a seven-week high, according to the latest release by the American Iron and Steel Institute (AISI).

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 […]