Category: Features

Prices of most steelmaking raw materials have moved lower over the last 30 days, according to Steel Market Update’s latest analysis.

President Biden said on Thursday that it’s “vital” for U.S. Steel to remain an American steel company.

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

Steel mill lead times were flat to slightly up, according to our market survey this week.

Join SMU’s next Community Chat webinar with Barry Zekelman, executive chairman and CEO of Zekelman Industries – the largest independent steel pipe and tube manufacturer in North America. The webinar will be on Wednesday, March 20, at 11 a.m. ET. It’s free for all to attend. A recording will be available to SMU members. You can register here.

US senators have introduced the "Stop Mexico’s Steel Surge Act," which seeks to reimpose 25% Section 232 tariffs on Mexican steel imports.

What does it mean to be a domestic steelmaker in the 21st century? Of course, that idea is open to interpretation. The vibrancy of the US industry is a testament to that. Between integrateds, EAFs, how to approach decarbonization, downstream ventures, American innovation goes in many directions.

The apparent supply of steel in the US increased in January, rising to a five-month high, according to data compiled from the US Department of Commerce and the American Iron and Steel Institute (AISI).

US steel exports jumped to 770,649 short tons (st) in January, rising 25% from the 12-month low recorded one month prior.

Estelle Tran, prices lead at CRU, Michael Cowden, managing editor at SMU and Josh Spoores, principal analyst at CRU, will be the featured speakers on a special CRU webinar. It will take place on Thursday, March 21, at 10 a.m. ET. You can learn more and register here.

Reaction to the price announcements last week by domestic mills varied just a little depending on who you were speaking to. I heard rumblings before the announcements that a price hike of $100 per short ton (st) was coming. After the announcements were made, I had some questions as to whether they were increases at all.

In 2023, Mexico emerged as the largest trading partner with the United States—larger than Canada, and even China. The growth in trade with Mexico has been truly historic—Mexico has never captured the title of the largest exporter to the US. At $475 billion for the year, the value of US imports from Mexico exceeded that […]

Domestic shipments of heating and cooling equipment were up marginally in January, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).

The latest steel import license data from the US Commerce Department shows 2.39 million short tons (st) of steel entered the country in February 2024, down 6% from the month prior.

A Detroit-area mill entered the scrap market on Thursday offering down $70 per gross ton (gt) on #1 busheling. And Nucor announced a minimum base price of $825 per short ton (st) for hot-rolled (HR) coil. What's the best way to interpret would could be read as contradictory trends?

Worthington Steel began trading publicly on New York Stock Exchange on Dec. 1. In one sense, this marked the “finish line” of the company’s separation process. As the company gets ready to release its first earnings report as a standalone company, president and CEO Geoff Gilmore reflected on the journey, and what lies ahead.

Antidumping and countervailing duty (AD/CVD) rates on imports of cut-to-length plate from two major South Korean producers may soon be adjusted.

The price premium cold-rolled coil (CRC) carries over hot-rolled coil (HRC) remains wide, according to our latest market check. Based on our steel price indices published Tuesday, the spread between these products is at the fifth-highest weekly level seen over the last 16 months.

What are folks in the steel industry talking about at present? Respondents to SMU’s mini-survey this week shared some of their thoughts with us about what's going on in the market. Rather than summarizing their responses, here’s some of what they had to say in their own words.

Flat-rolled steel prices have been running downhill in a hurry since the beginning of the year. In some ways, it's no surprise because other indicators have also been pointing lower for some time. Lead times have been contracting since the beginning of the year and are now below the five-week mark for hot-rolled (HR) coil for the first time since September. Mills are more willing to negotiate lower prices, and early reports seem to indicate that scrap might settle lower again in March.

Steel prices continued to ease lower throughout February, following a loss of upwards momentum in the middle of January.

Turkish scrap import prices consistently declined over the past month due to persistently weak domestic demand and lower prices in main supplier markets in recent weeks.

A clear consensus has emerged among respondents to SMU’s latest steel market survey that hot-rolled (HR) coil prices will bottom this month or in April. Seventy-five percent of respondents to our latest survey think that prices will find a floor before May as the chart below shows:

The failure of the trade remedy actions against imported steel tin mill products (TMPs) continues to resonate. Cleveland-Cliffs and the United Steel Workers Union (USW) lost the case at the International Trade Commission (ITC) last month. A few days ago, the ITC released its final report explaining the decision against imposing antidumping and countervailing duties […]

The American Iron and Steel Institute (AISI) is urging Congress to strengthen US trade laws. Specifically, Kevin Dempsey, president and CEO of AISI, asked Congress to incorporate the provisions of the Leveling the Playing Field 2.0 Act in any trade legislation that moves forward this year.

SMU’s Current Steel Buyers’ Sentiment Index eased to an eight-week low, according to our most recent survey data.

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, […]

I want to give a big shoutout to the good folks at the Fabricators and Manufacturers Association (FMA) for inviting me to their annual conference this week in Clearwater, Fla. I also want to give a special thanks to the FMA for awarding SMU founder John Packard with a lifetime achievement award – on that also gave me a chance to catch up with my old boss in person.

Worthington Steel President and CEO Geoff Gilmore will be the featured speaker on the next SMU Community Chat on Wednesday, March 6, at 11 am ET. The live webinar is free for anyone to attend. A recording is available only to SMU subscribers. You can register here.

Steel mill lead times shrunk by an average of 0.3 weeks, according to our latest market survey, now nearing levels last seen in September of last year.