Category: Market Segment

The US and Canadian rig counts moved higher as oil and gas drilling picked up in the week ending May 29, according to the latest report from Baker Hughes.

The pig iron import market in the US continues its upward price movement.

This week we saw low negotiation rates across all products, with coated and plate products slightly more negotiable than hot rolled and cold rolled.

Market participants report frustration with extending lead times for domestically produced plate products.  

The United Steelworkers confirmed the dates for the official start of contract negotiations with U.S. Steel.

All regulatory conditions for Worthington Steel's acquisition of Germany-based service group Kloeckner have been met, a spokeswoman told SMU on Wednesday.

Volume, which is usually a big positive for buyers in price negotiations, has arguably become a net negative.

US raw steel production slipped last week, falling from a multi-year high the previous week, according to the most recent American Iron and Steel Institute (AISI) data.

SMU’s Mill Order Index (MOI) eased marginally in April, losing some momentum after moving higher in March.

Worthington Steel said on Tuesday its subsidiary plans to raise $900 million through a senior secured notes offering to raise funds for the company’s proposed Kloeckner acquisition.

JSW Steel USA CEO Rob Simon will join Steel Market Update (SMU) for a Community Chat on Wednesday, June 3, at 11 am ET.

Nucor announced on Tuesday, May 26, that its consumer spot price (CSP) for hot-rolled coil will be $1,095 per short ton for the week, up $5/st from last week.

The tin mill trade case brought by U.S. Steel and the United Steelworkers is moving forward after a key vote.

Through a tariff carve-out, Tata Steel UK is able to send steel products melted in the Netherlands to the US at the UK’s reduced 25% Section 232 rate.

The total volume of raw steel produced around the world fell 4% in April following the one-year high seen in March, per World Steel Association figures.

Domestic plate market participants named extended lead times, increased freight costs, escalating fuel surcharges, and spotty demand as their most recent challenges.  

Two Ontario-based steel importers and their president have agreed to pay $19 million to settle US allegations that they avoided customs duties on flat-rolled steel by falsely declaring its origin, the Department of Justice said.

Galvanized steel buyers and distributors expect tightening supply and rising price pressure to last into summer.

General Motors will launch a new vehicle-assembly project at its Ramos Arizpe Complex as part of the automaker’s previously announced $1 billion investment to strengthen its operations in Mexico.

Architecture firm billings retreated modestly in April, with the American Institute of Architects (AIA) reporting another month below the growth threshold.

Steel trade groups have come out in support of the Building Unrivaled Infrastructure and Long-term Development for America's 250th Act (BUILD America 250 Act)

Trading-company sentiment in the May 15 SMU flat-rolled steel buyers survey shows a market split between anecdotal optimism and numerical decline.

The Commerce Department's International Trade Administration recently concluded several administrative reviews of the anti-dumping and countervailing duties (AD/CVDs) on various steel imports. The reviews resulted in the following duty adjustments.

Domestic raw steel production ticked up to the highest weekly output rate recorded since March 2020, according to recently published American Iron and Steel Institute (AISI) data.

Grupo Acerero SA de CV posted higher shipments and stronger profitability in the first quarter of 2026.

Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil to $1,090 per short ton, up $10/st from last week.

Unsurprisingly, the Trump-Xi Beijing summit ended without a major announcement on trade. Behind the celebratory mood and photo-ops are years of economic harm from China’s predatory trade practices that cannot be overcome in a single meeting.

Sources told SMU they’ve begun considering whether US imports of sheet might benefit the overall market.

The United States International Trade Commission (ITC) has voted to continue investigations into oil country tubular goods (OCTG) from Austria, Taiwan, and the United Arab Emirates (UAE).

Global shipping volatility is tightening its grip on steel supply chains. And the risks are not easing; in fact, they’re escalating, according to Anton Posner, CEO of Mercury Resources.