Category: Manufacturers/End Users

The galvanized steel market is navigating price increases and longer lead times with a surer footing than in prior months.  

Emissions rules, production limits and material substitution are reshaping steel and aluminum use in North American vehicles.

Once wintery weather gives way to sunnier spring conditions, plate sources foresee the market accepting the $50-60 per short ton spot price increases issued by Nucor Plate Group, Oregon Steel Mills, and SSAB. 

Barry Zekelman used his Tampa Steel Conference fireside chat to deliver one of the bluntest assessments yet of the forces shaping North American steel. He warned that a flawed tariff structure and an impending power crunch threaten the industry more than most realize.

Companies are framing 2026 around backlog, mix and production discipline rather than a uniform market recovery.

Plate production for the construction of the Polar Max Icebreaker is underway at Algoma’s Sault Ste. Marie facility in Ontario.  

Plate market participants expect domestic producers to issue a $40-60 per short ton (st) price increase.

Baker Hughes' latest rig count report shows oil and gas drilling picked up in the US this week, but slowed in Canada. Oil drilling in both countries is down from last year, while gas drilling has picked up, mainly in the US.

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 […]

Sheet market participants said conditions this week were more stable than in past weeks, but they remain cautiously optimistic overall.   

There is no evidence that unofficial talks are taking place to secure tariff reductions on Canadian aluminum or steel. One of the biggest challenges is simply understanding what the US actually wants from Canada.

Participants in the hot- and cold-rolled coil markets said winter storms in the East and Midwest may disrupt weekly order volumes and prices.  

Metalforming manufacturers anticipate strong near-term economic conditions that will give way to increasing orders, according to the Precision Metalforming Association (PMA) Business Conditions Report for January 2026. 

A report on the sheet market this week.

The plate market’s swell of optimistic sentiment marking the start of 2026 dissipated this week.  

Though they’re hopeful, domestic sheet market sources didn’t share a bullish outlook on the market this week.

The galvanized steel market has kicked off the year with a firmer tone, marked by rising prices, lengthening lead times, and a noticeable shift in buyer sentiment. Service centers and distributors on HARDI’s latest sheet metal and coil handling council call described a market that is not overheating but steadily tightening.

Shipments of heating and cooling equipment fell for the sixth straight month in November, reaching the lowest rate seen since October 2016, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).

The number of oil and gas rigs operating in the US fell this week, while Canadian activity surged, according to the latest data released from Baker Hughes. 

The state of Louisiana has purchased 1,700 acres along the Mississippi River from Germania Plantation Inc. for $91 million for Hyundai Steel's proposed EAF operation.

Kloeckner Metals Corp. announced that beginning Jan. 1, 2026, the former Bauer Built Manufacturing site in Paton, Iowa, would lead all its commercial, manufacturing, and other operational activities. 

The Chicago Business Barometer increased in December after hitting an 18-month low in November, according to Market News International (MNI) and the Institute for Supply Management (ISM)

The Institute for Supply Management’s (ISM) latest report finds that December 2025’s market conditions in the manufacturing sector continued to soften.

Metalforming manufacturers are more upbeat on the prospect of improved near-term economic activity despite lower shipping levels in December, according to the Precision Metalforming Association’s (PMA) December report.

Worthington Steel executives emphasized on an earnings conference call on Thursday that the company’s standout fiscal Q2 performance came from capturing new automotive business, with direct automotive shipments rising 26% year over year.

US shipments of heating and cooling equipment fell 11% in October from September to the lowest monthly rate of the year, and an eight-year low, according to AHRI.

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

The Coalition for a Prosperous America (CPA) is urging the Trump administration to keep Section 232 steel and aluminum measures focused on rebuilding US capacity, rather than using them as bargaining chips in unrelated negotiations.

Deere & Company's latest earnings report put a spotlight on the mounting costs of tariffs across the agricultural and heavy machinery sectors.

The Chicago Business Barometer tumbled to an 18-month low in November, according to Market News International (MNI) and the Institute for Supply Management (ISM)