Getting back to the price increases I mentioned at the top of this article, to what extent are they aimed at raising prices and to what extent are they aimed at stopping the bleeding that was happening in the second half of May, before President Trump announced the 50% tariff?
Details of a new tariff-rate quota on US imports of British steel are lacking in the new US-UK trade deal.
The Mexican government shut down two plants and warehouses operated by US-based LAU Industries.
Trade talks are progressing between the US and the market is contemplating the future of Section 232 tariffs.
After climbing to a seven-month high in March, heating and cooling equipment shipments edged lower in April, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). Shipments of water heaters, air conditioner/heat pumps, and warm-air furnaces all declined month over month (m/m) but remain strong relative to the past three years.
The Trump administration has expanded the list of derivative steel products covered by the now 50% Section 232 tariff.
Domestic mills continue to produce record volumes of steel, according to AISI's latest figures.
Flat rolled = 57.1 shipping days of supply Plate = 55.7 shipping days of supply Flat rolled US service centers reined in flat roll supply in May, coinciding with declining shipments. At the end of May, service centers carried 57.1 shipping days of supply, according to adjusted SMU data. That’s down slightly from 57.6 shipping […]
We just wrapped another Steel 101 Workshop, where you take what you learned in the classroom into the steel mill.
In short, when tariffs go up, jobs in consuming industries go down. There is conclusive evidence from past actions: safeguard tariffs in 2002 and Section 232 tariffs in 2018. It is happening again in 2025. The Trump administration wants foreign producers (and US retailers) to absorb tariff increases (except in antidumping cases, where foreign absorption of tariffs is illegal).
If you’re feeling a sudden jerk and a case of tariff whiplash coming on, you’re not alone.
More developments with USS-Nippon. A look at whether imports will be needed. The latest prices. And more.
A Nippon executive has hit back regarding the deal for USS following President Trump's talk of a "golden share" on Thursday.
SMU’s latest steel buyers 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.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
SMU’s Steel Buyers’ Sentiment Indices moved in opposing directions this week. Our Current Steel Buyers’ Sentiment Index sharply fell to one of the lowest levels recorded in five years, while Future Buyers’ Sentiment marginally improved.
Subdued demand has continued to weigh on steel sheet prices globally.
Steel equities and steel futures fell hard after news broke earlier this week that the US and Mexico might reach an agreement that would result in the 50% Section 232 tariff coming off Mexican steel. The sharp declines didn’t make much sense, especially if, as some reports indicate, Mexico might agree to a fixed quota. They didn't make sense even if steel flows between the US and Mexico remain unchanged.
All five of the averages for sheet and plate mill lead times tracked by SMU extended moderately this week, according to buyers responding to our latest market survey.
Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet products than they were in recent weeks, but remain open to bargain on plate prices.
Following three months of little to no growth, the Dodge Momentum Index (DMI) increased in May, according to the latest data released by Dodge Construction Network
The US steel industry is edging closer to independence from imports, and it may only take one more mill to tip the scales, according to Timna Tanners, managing director at Wolfe Research.
The latest SMU Community Chat webinar reply featuring Timna Tanners, managing director of equity research for Wolfe Research, 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 […]
We’ll have a lot to talk about because construction is at the intersection of so many of today’s hot-button issues. The main question: Will construction thrive or dive in the rest of ’25? (Nothing wrong with a rhyme, even in serious times.)
Steel industry veteran David ‘Dave’ Aycock died on Saturday at the age of 94.
The amount of finished steel that entered the US market in April declined 3% from March but remained at elevated levels, according to SMU’s analysis of Department of Commerce and American Iron and Steel Institute (AISI) data.
Even before the news about Mexico, I didn’t want to overstate the magnitude of the change in momentum. As far as we could tell, there hadn’t been a frenzy of new ordering following President Trump’s announcement of 50% Section 232 tariffs. But higher tariffs had unquestionably raised prices for imports, which typically provide the floor for domestic pricing. We’d heard, for example, that prices below $800 per short ton for hot-rolled (HR) coil were gone from the domestic market – even for larger buyers.
The Atlanta-based company informed customers on Monday it is shutting down its metal division while continuing to operate the logistics business.
Domestic steel mills are ramping up production, according to the American Iron and Steel Institute (AISI), with output rising to a three-year high last week.
US steel exports totaled 579,000 short tons (st) in April, according to US Department of Commerce data. That's the lowest monthly volume recorded since July 2020.
I want to draw your attention to SMU’s monthly scrap market survey. It’s a premium feature that complements our long-running steel market survey. We’ve been running our scrap survey since late January. And over just that short time, it’s become a valuable way not only for us to assess where scrap prices might go but also to quantify some of the “fuzzy” indicators - like sentiment and flows - that help to put the price in context.