Category: Overseas

The ferrous scrap market is still searching for clues about the direction of the October market.

Worthington Steel saw a strong first quarter to kick off its fiscal 2026 as both profits and sales notched increases.

SMU’s average price for domestic hot-rolled (HR) coil held at $785 per short ton (st) this week, unchanged week on week (w/w). A similar dynamic was seen in offshore markets last week as well.

The analysis below was first published by CRU. To learn about CRU’s global commodities research and analysis services, visit www.crugroup.com.  One-in-three companies have paused or delayed stainless steel orders because of disruption caused by the wave of import duties imposed worldwide this year, according to a survey conducted for Outokumpu of Finland. Other responses include more […]

Cold-rolled (CR) coil prices ticked up in the US this week, matching a similar trend seen in offshore markets as well.

For the next month, CRU forecasts that global demand for steelmaking raw materials will increase month on month (m/m).

With only a modest decline in US prices, HR imports, on a landed basis, remain much more expensive than domestic hot band.

There have been developments in the ferrous scrap export market in the Atlantic Basin over the past week that point to weakness in the near future.

Cold-rolled (CR) coil prices ticked lower in the US this week, while prices in offshore markets mostly diverged and ticked higher.

The pig iron market in Brazil is currently in flux and there have been few, if any, confirmed cargoes transacted for the US.

A recap of this week's steel industry news...

Sheet prices are expected to increase in the coming weeks in most markets. However, rising domestic capacity in the US, subdued demand in Europe, and high inventory levels in China and India will limit price near-term uptrend.

Domestic hot-rolled (HR) coil prices ticked down this week after holding flat since mid-August. Offshore prices largely all moved higher week over week (w/w), widening the margin between stateside and foreign product.

If the steel industry professionals who made it to the very final presentation of this year’s SMU Steel Summit were expecting another round of cautious forecasting, they were in for a surprise. Because what they got was a wake-up call.

Cold-rolled (CR) coil prices ticked lower in the US this week, while prices in offshore markets diverged and ticked higher.

The Brazilian-US pig iron market has remained quiet, market sources told SMU.

Domestic hot-rolled (HR) coil prices were flat this week for a third straight week. Offshore prices all moved higher w/w, widening the margin between stateside and foreign product.

Private equity firm FalconPoint Partners has acquired SMS, an industrial service provider.

The export market is looking for direction based upon the latest scrap purchases from Northern Europe by Turkish steelmakers. The sentiment was looking bearish, but sellers may see it differently.

Domestic hot-rolled (HR) coil prices were flat this week, while offshore prices varied week over week (w/w). The price margin between stateside and foreign product was little changed as a result.

On Thursday, the U.S. and EU agreed to more concrete terms to their handshake deal of last month.

Domestic sheet prices in the US remained under pressure, limiting interest in imports, while domestic prices for longs products continued to rise.

HRC prices in the US eroded further last week, while offshore prices varied week over week (w/w), widening the price margin between stateside and foreign product.

Cold-rolled (CR) coil prices continued to decline in the US this week, while prices in offshore markets diverged and ticked higher.

The CRUmpi rose by 0.8% month over month (m/m) to 286.1 in August, following four consecutive months of decline. Scrap prices showed mixed trends across major regions, largely influenced by local supply-and-demand dynamics, government policies, and the relative strength of finished steel markets. US prices were stable while Europe and Asia saw price increases, but […]

The US scrap export market has traded sideways or slightly less for about 60 days, with no real firmness in sight.

Hot-rolled (HR) coil prices in the US declined again last week, while offshore prices ticked higher again week over week (w/w).

The administration continues to negotiate deals with US trading partners, and the reciprocal tariff program appears poised for further modification. This week, we focus on other important developments that may have received less media attention.

Hot-rolled (HR) coil prices in the US declined again last week, while offshore prices increased week over week (w/w).

This week’s SMU survey reveals that a growing number of steel market participants are weary of tariffs and are awaiting evidence of progress reshoring.    At the start of 2025, now-second-term President, Donald Trump, pronounced that his plan to implement tariffs would result in increased revenue for the US.