Category: Manufacturers/End Users

The US and Canadian oil and gas rig counts inched lower this past week, according to the latest Baker Hughes data.

Participants in the hot- and cold-rolled coils market are optimistic about the market's health.

SMU’s Steel Buyers’ Sentiment Indices indicate that steel buyers remain highly optimistic about their businesses’ chances for current and future success.

Manufacturing activity in New York state strengthened in April, with steel-adjacent producers reporting firmer demand and improving throughput, according to the Federal Reserve Bank of New York’s latest Empire State Manufacturing Survey.

Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will join SMU for a Community Chat webinar on Wednesday, April 15, at 11 a.m. ET.

Plate market participants we spoke to this week offered a long list of concerns: escalating fuel and freight expenses, consolidated sources of end-market demand, tariff-related complications, as well as long lead times and delivery delays from US mills. The cherry on top? An ever shrinking availability of spot tons from domestic mills.

Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will join SMU for a Community Chat webinar on Wednesday, April 15, at 11 a.m. ET.

The president’s April 2 proclamation restructures how derivative products are classified, valued, and tariffed – a shift that industry groups say will close loopholes but could raise costs for certain downstream imports.

The petitions allege that foreign producers are selling seamless and welded OCTG at unfairly low prices and, in Austria’s case, benefitting from countervailable subsidies.

Metalformers’ economic outlook for the second quarter softened in March, said the Precision Metalforming Association (PMA).

Most steel buyers see prices continuing to inch higher on stable or improving demand. But some are concerned higher energy prices stemming for the Iran war could dent the overall economy.

Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will join SMU for a Community Chat webinar on Wednesday, April 15, at 11 a.m. ET.

The galvanized sheet market continued to tighten in March as distributors and service centers reported firm demand, low inventory levels, and rising transportation costs. Participants on the monthly HARDI sheet metal and air-handling call on Wednesday described a market defined by constrained supply and steady upward pricing pressure.

Heating and cooling equipment shipments declined in January to the second-lowest rate recorded over the past nine years.

Participants in the US hot- and cold-rolled sheet market cautiously called the week a win as prices inched north and demand picked up.  

Plate industry sources said the market has been characterized by three factors lately: fewer domestic mills willing to fulfill spot buys, inconsistent lead times, and erratic demand.

SMU sits down with JSW Steel USA CEO Rob Simon.

Volkswagen workers in Chattanooga, Tenn., voted overwhelmingly last week to ratify a labor contract with the United Autoworkers. The deal marks the first union contract for Southern autoworkers outside the “Big Three” Detroit-area automakers.

Participants in the domestic sheet market say they experienced lighter inquiries and fewer orders than in previous weeks, rendering domestic mill price increases for spot-market hot- and cold-rolled coils irrelevant.  

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.