Category: Features

2023 was the third-lowest year for steel imports in the last decade, according to an SMU analysis of data from the US Department of Commerce.

It was another steady drip lower, down $20/st to $980/st. In other words, the kind of on-and-off declines we’ve been seeing since the start of the year.

Timna Tanners, managing director of equity research at Wolfe Research, will be the featured speaker on our next SMU Community Chat. The chat will be on Wednesday, Feb. 7, at 11 a.m. ET. You can join the ~600 people who have already registered here.

Domestic manufacturing activity continued to draw back in January, receding for the 15th straight month, according to the latest Institute for Supply Management (ISM) Manufacturing PMI report.

At the final hour, the trade case investigating unfairly traded imports of tin mill products has been terminated.

Former President Donald Trump discussed, if re-elected, placing a 60%-or-more tariff on all Chinese imports in an interview with Fox News on Sunday.

SMU’s latest survey results make it clear that the sheet market has hit an inflection point and headed lower. But while some market participants think that sheet prices might bottom within the next month or so, others expect a more protracted downturn.

I participated in the 35th annual Tampa Steel Conference last week, a conclave of steel producers, consumers, traders, logisticians, and (a few) trade lawyers. I participated in a panel discussion concerning challenges in managing supply chains in these troubled times. Things appear to be heading in the wrong direction in this field. Supply chains were shown to be vulnerable to pandemics in 2020 and 2021, and, in 2022 and 2023, to regional conflicts and weather slowing or stopping the free movement of goods through trade bottlenecks (the Suez Canal, the Panama Canal, the Bosporus, etc.)

Just like doing business in any part of the steel supply chain, there are risks and unknowns in trading steel. But trading companies play an important part, helping businesses navigate the risks and unknowns as they pop up.

Timna Tanners, managing director of equity research at Wolfe Research, will be the featured speaker on our next SMU Community Chat on Feb. 7.

The Department of Commerce has adjusted the countervailing duty (CVD) rates on imports of corrosion-resistant (galvanized/Galvalume) steel from South Korea after an administrative review.

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, […]

SMU’s Current Steel Buyers Sentiment Index edged down this week, while the Future Sentiment Index remained flat, according to our most recent survey data.

I thought Nippon Steel’s $14.1-billion deal for U.S. Steel might become a political football in this year’s presidential election. Now there is little doubt that it will after Trump told reporters in Washington, D.C., earlier this week that he would “absolutely” block the transaction – and that he would do so “instantaneously.”

SunCoke Energy Inc.’s earnings improved in the fourth quarter, driven by higher coal-to-coke yields, the company said in its Q4, and full-year results on Feb. 1.

Steel mill lead times for sheet products saw substantial declines over the past two weeks, while production times for plate held steady during the month of January.

Steel buyers said mills were much more willing to negotiate spot pricing this week on all products SMU surveys, according to our most recent survey data.

The sun decided to greet us on the second day of the Tampa Steel Conference 2024. Attendees from the chillier northern parts of the continent got their dose of winter sunshine. But whatever the temps, it was inside the conference room where things really heated up. January is always a time to make sense of the year that’s just passed, and look out for the trends for the year ahead.

Sheet prices were mixed this week, with hot-rolled (HR) coil unchanged but cold-rolled and coated prices down.

With rising steelmaking capacity and relatively flat demand, industry analysts are predicting lower prices for sheet products this year.

I’m writing these final thoughts from the JW Marriott in Tampa. And I’m looking forward to seeing some of you reading this in just a few hours at the opening networking reception of the Tampa Steel Conference. Nearly 550 people will be there – a new record for the event. If you’re looking for things […]

Trade is not the major focus of the campaigns for the 2024 elections, either at the presidential or congressional level. But it is there as a live issue for business. And last August, former President Trump suggested a 10% tariff on virtually all imports as a “ring around the collar” of the US economy.

This week Magnitude 7 Metals issued a statement to announce the curtailment of its New Madrid smelter in Marston, Mo. The plant, one of only five remaining primary smelters in the US, employs approximately 450 union workers. With over 275,000 metric tons (mt) of capacity per year, New Madrid is the second-largest plant by capacity […]

December’s import level was slightly lower than an earlier license count had suggested, resulting in December marking the second-slowest month for imports in 2023.

The American steel market, including the stainless steel market, continues to face serious threats from subsidized and dumped imports resulting from foreign government policies creating an unfair playing field. It is no secret that China is a major culprit.

The Tampa Steel Conference is just a few days away. Here are some topics I’m looking forward to learning more about during the proceedings on Monday and Tuesday. For starters, we’ll have about a month of 2024 under our belt when we convene on Sunday. How does that compare to what we thought the start of the year would look like? And what’s the outlook for the balance of the year?

The 35th Annual Tampa Steel Conference starts in just a few days. As one of the premier domestic steel conferences, it’s the perfect way to kick off 2024. It’s not too late to register if you haven’t already done so, but make sure to book now!

Global steel output fell in December, led by cuts in China, the World Steel Association (worldsteel) said in its latest monthly report. Annual totals in 2023 saw a similar trend.

US hot-rolled coil (HRC) prices declined further this week, easing to their lowest level since late November. And while domestic tags remain notably more expensive than offshore product, the premium has declined as imported hot band tags have moved higher.

What's being talked about in the US steel market this week?