The Trump administration's invocation of the Defense Production Act authorizes the Department of Energy to use DPA tools to accelerate construction, expand domestic manufacturing capacity, and shore up critical supply chains – all areas with direct implications for steel.
President Donald Trump has threatened to raise tariffs on auto imports from the European Union to 25% from 15%.
SMU’s Mill Order Index (MOI) recovered in March, gaining some momentum after a marginal decline in February.
Domestic raw steel production increased to a new multi-year high last week, per AISI figures.
Chinese major Baosteel will re-evaluate its investment in a steel plate making joint venture in Saudi Arabia because war in the Middle East has added uncertainties to the project, Baosteel Chairman Zou Jixin said.
The Canadian government has announced CAD$1.5 billion (USD$1.1 billion) in funding available to help companies impacted by US metals tariffs.
The prevailing sentiment for May is that #1 busheling and bundles are likely to increase. This may cause pig iron to continue its upward trajectory.
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $1,070 per short ton (st), a $5/st increase from last week.
I haven’t done a deep dive into our sentiment data for a little while. And it’s timely to do so now. Why? Because we’re seeing what I’ll call the inverted yield curve of steel buyers’ sentiment.
Oregon Steel Mills (OSM) is attempting to push spot plate prices up by a minimum of $60 per short ton (st).
It's cliche to say it. But spring traditionally brings new hope and green shoots—whether that's looking forward to vacations or increased business activity. While I viscerally share these positive feelings, I can’t help but thinking of three areas where I'm not feeling very hopeful. Namely, the US electrical grid, the national debt, and the Iran war.
Ferrosource LLC, a distributor of ferrous metals, is nearing completion of its steel processing facility on the campus of Big River Steel Works (BRSW) in Osceola, Ark. Operations are set to begin in August.
Long products from Algeria are facing the wrath of the US legal system.
AMU: Ford and GM's results show earnings supported by tariff timing and mix, while volumes, inventory, and cash flow point to a constrained supply and uneven demand.
I attended the SAFE Summit in Washington, D.C., earlier this week. It was an out-of-this world event – and I mean that quite literally. There were serious discussions around building data centers in space.
Steel mill lead times continue to hold at or near multi-year highs for both sheet and plate products, territory they have been in two months.
ArcelorMittal’s North American operations posted higher sales results sequentially and year over year (y/y) in its Q1 earnings report. The North American segment of the Luxembourg-based steelmaker reported 8.3% higher sales in Q1’26 compared with the previous quarter. The steelmaker credits higher average selling prices, up 3.5% from Q4, and a jump in steel shipments, up 5.2%.
Anton Posner, CEO of Mercury Resources, will join Steel Market Update (SMU) and Aluminum Market Update (AMU) for a Community Chat on Thursday, May 14, at 11 am ET.
Gerdau’s North American operations reported increased profits in the first quarter on higher prices and shipments.
Anti-dumping and countervailing duties on imports of non-grain-oriented electrical steel (NGO or NOES) will stay on the books for another five years.
U.S. Steel has announced a $1.9 billion investment to construct a new direct-reduced iron (DRI) facility at Big River Steel (BRS) Works in Osceola, Ark.
Last week, Steel Market Update and CRU hosted our inaugural VIP Briefing in Chicago ahead of the Scouting America Metals Industry Dinner.
Nucor executives said US steel demand remains stable, with pockets of strength in data centers, energy, border fence work, and infrastructure.
SSAB Americas’ revenue fell in the first quarter as negative currency effects outweighed higher steel prices.
Nucor's new, 3-million-ton-per-year sheet mill in Apple Grove, W.Va., has reached "about 85%" completion, with commissioning now underway.
The volume of raw steel produced by US mills eased last week but remains within earshot of the multi-year high set one week prior
Nucor is entering the second quarter "with real momentum," according to its chief executive, as the company reported soaring first-quarter sales and profits.
The US Department of Commerce has released new procedures allowing certain steel and aluminum producers in Canada and Mexico to qualify for reduced Section 232 tariffs – but only if they commit to building new primary production capacity inside the United States.
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil to $1,065 per short ton (st), a $10/st increase from last week.
USMCA provides strong support for North American competitiveness. US manufacturing has lost considerable capabilities over the last few decades. “Cheating” by other countries is not the only reason. Nor is it even the most important reason