Category: Market Segment

This week sources said spot prices on hot-rolled coils increased modestly. 

With the Iran war approaching its third week, the future course and scope of the conflict remain uncertain. Even so, while the human costs are the most immediate and tragic, the global economic implications have already proven to be significant.

The market has been naturally fixated on the disruption of aluminum exports from the Persian Gulf. However, there is another shipping problem that also may have repercussions on the movement of manufactured goods originating in the Pacific. That is extreme congestion at the Panama Canal.

A month ago, the steel market was defined by stability. Prices had firmed and held, and the HRC futures curve appeared to be absorbing strength and follow-through rather than rejecting it. Since then, that stability has evolved into something more meaningful, repricing.

A year after being blindsided by hefty tariffs from its top trading partner, Canadian steelmakers are renewing their call for tariff-free trade between the US and Canada.

Domestic plate market participants expressed confidence in the overall improvement of market conditions this week.  

Algoma Steel said the Section 232 tariff shock continues to shape its business model. The 50% US duty effectively shut the company out of its largest export market, forcing a structural pivot toward Canada.

Nucor Plate Group notified customers it is increasing prices on all rolled products by $40 per short ton (st) and $60/st on all heat treat products.  

Algoma Steel Inc. added to its mounting losses during the fourth quarter. Sales and shipments plummeted as ongoing trade tensions between Canada and the US force the Sault Ste. Marie, Ontario-based steelmaker to reconfigure its entire business model.

Reliance Inc. announced two big US government contract wins from its wholly-owned subsidiary AMI Metals Inc.

An administrative review of the anti-dumping duty (AD) order on heavy-walled rectangular pipe and tube from Mexico has found evidence of continued dumping by Mexican companies.

Serviacero USA is set to establish its first US manufacturing operation after purchasing a rail-served site at the Gulf Inland Logistics Park in Houston.

Raw production has trended upwards since the start of the year, reaching a four-year high in February.

Nucor’s consumer spot price (CSP) for hot-rolled coil increased to $1,010 per short ton (st), up $5/st from last week. 

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

Market participant comments from this month's SMU Ferrous Scrap Survey.

Oregon Steel Mills and SSAB Americas announced higher plate prices to close out the week.

Mexico’s Secretary of Economy is conducting ‘Operation Clean-Up,” inspecting suspicious steel companies to verify compliance with rules of origin.

Since the Supreme Court struck down President Trump’s use of IEEPA tariffs, a judge at the Court of International Trade (CIT) has ordered refunds of all IEEPA tariffs. Still, Trump is trying again with a Section 122 global tariff.

US steel shipments increased sequentially and on-year in January, according to the latest data from the American Iron and Steel Institute (AISI).

The Council on American Steel Trade (CAST) introduces itself as “pro-USA steel manufacturing and is led by trade experts representing every level of the American steel supply chain – from iron ore mining and integrated and mini-mills to processors, downstream steel-derivative producers, and the hardworking men and women of America’s steel workforce.”

Last week, the California Air Resources Board (CARB) conducted a public hearing where it ratified the state’s initial greenhouse-gas (GHG) emissions reporting and climate risk disclosure regulations.

CVDs and anti-dumping duties matter when importing steel. Korea often offers very competitive import rates. The importer of record is responsible for paying any ADs, CVDs, or tariffs.

Grupo Acerero SA de CV (GASA) reported increasing shipments at the end of 2025 as the steel producer ramps up a new slab mill in north-central Mexico.

Nucor announced Wednesday the retirement of Executive Vice President of Commercial Daniel R. Needham, effective June 20.

ArcelorMittal Mexico has replaced the transformer on its No. II electric-arc furnace, increasing casting capacity by 18%.

Domestic raw steel production has strengthened since the start of the year and reached a four-year high in mid-February.

Reuters on Monday quoted Worthington Steel President and CEO Geoff Gilmore as saying the company has alternative targets if its deal to acquire Germany-based service center group Kloeckner & Co. doesn't happen.

Nucor’s consumer spot price (CSP) for hot-rolled coil increased to $1,005 per short ton (st), up $15/st from last week.

Tariff-related litigation in the US and around the world reflects the willingness of the president to act without consulting Congress or our trading partners. We're seeing the impulse to act without congressional approval in international relations too.