Category: Features

CRU analysts Thais Terzian and Frank Nikolic will be the featured guests on the next SMU Community Chat on Wednesday, July 9, at 11 am ET.

US Treasury Secretary Scott Bessent told reporters that tariffs for Vietnamese imports to the US are 20% and "specific industries" have trade protections under the Section 232 tariffs.

Domestic steel mill output inched higher last week, according to the American Iron and Steel Institute (AISI). Raw production remains historically strong and has been growing steadily since April.

I’m not sure how many different ways I can write that it’s been a quiet market ahead of Independence Day. There are variations on that theme. I’ve heard everything from the ominous “eerily quiet” to "getting better" and even the occasional “blissfully unaware” (because I’m enjoying my vacation).

It will be a shorter week as the United States celebrates Independence Day on Friday. But we won’t leave you high and dry.

Steel trade groups praised the passage of the Big Beautiful Bill (BBB) in Congress on Thursday.

The rig count declined for the 10th consecutive week in the US, while Canadian count rose for the fifth straight week, according to Baker Hughes.

Steel buyers this week are lamenting weak demand, cautious buying, and So. Much. Uncertainty. I'm no doctor, but I suggest a dual diagnosis of extreme tariff fatigue and early-onset summer doldrums.

A look at SMU data for the month of June.

What's going to be the next big thing in steel?

Canada has implemented tariff-rate quotas (TRQs) on steel imports to help stabilize its domestic market.

The owner of Liberty Steel and his family were among the six victims of a plane crash in Ohio on Sunday, according to local media reports.

Here are the details and a case timeline for the rebar trade case recently initiated by the Commerce Department.

Based on the amount of ‘out of office’ replies we’ve been receiving and the results of this week’s steel buyers’ survey, those pesky summer doldrums have arrived for the steel industry.

CRU analysts Thais Terzian and Frank Nikolic will be the featured guests on the next SMU Community Chat on Wednesday, July 9, at 11 am ET. The live webinar is free for anyone to attend. A recording will be available to SMU subscribers.

Most economists will tell you that universal tariffs will result in inflation and reduce demand, causing a recession or worse. (After all, this is what happened in the 1930s). It is a rare product that is so essential that demand will not go down if prices go up.

A roundup of trade news, what's up with Brazilian pig iron, SMU's latest survey results and more to keep you up to date.

Oil and gas drilling activity declined for the ninth-consecutive week in the US, while Canadian counts rose for the fourth straight week, according to Baker Hughes.

Both of SMU’s Steel Buyers’ Sentiment Indices edged higher this week. Current Sentiment rebounded from a near five-year low, while Future Sentiment rose to a two-month high

SEC documents also name Trump specifically as having veto power certain decisions are part of the “Golden Share” provision.

The Canadian steel industry is bracing for thousands of job losses because of US tariffs, the Canadian Steel Producers Association says.

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

Maybe some of this uncertainty will get ironed out ahead of Liberation Day tariffs resetting higher rates on July 9. But if I had to place a wager, it would be on more drama and last-minute brinksmanship - whether it comes to the Liberation Day tariffs or the various Section 232s that are in the works.

Following the uptick seen two weeks ago, lead times eased this week for all four sheet products tracked by SMU, while plate lead times held steady, according to this week’s market survey.

“Contractors say that they're still busy, but their order books have gotten a lot softer or a lot more uncertain,” said Ken Simonson, chief economist for The Associated General Contractors of America.

The majority of steel buyers responding to our latest market survey say domestic mills are more willing to talk price on sheet and plate products than they were earlier this month. Sheet negotiation rates rebounded across the board compared to early June, while our plate negotiation rate hit a full 100%.

CRU analysts Thais Terzian and Frank Nikolic will be the featured guests on the next SMU Community Chat on Wednesday, July 9, at 11 am ET.

Could the US and Mexico end up with a tariff-rate quota system?

The latest SMU Community Chat webinar reply featuring Ken Simonson, chief economist for The Association General Contractors of America (AGC), 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 […]

What should you keep your eye on, considering the latest geopolitical events?