Category: Product

The latest Baker Hughes rig count report showed oil and gas drilling improved in both the US and Canada in the first week of November.

SMU’s November ferrous scrap 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 “ferrous scrap survey” results. Past scrap survey results are also available under that selection. If you need help accessing the survey […]

Nippon Steel is making good on the big capex promises it made to secure its purchase of United States Steel Corp. This week, the Japanese company and American steelmaker together unveiled various capital investments they plan to make across U.S. Steel’s footprint.

The gap between US hot band prices and imports narrowed slightly. But with the 50% Section 232 tariffs, most imports remain more expensive than domestic material.

ArcelorMittal Dofasco and Stelco joined recent moves by US mills to push sheet prices higher.

Most sheet prices inched up again this week following mill efforts to set a floor under tags and to increase them from there.

SunCoke Energy’s earnings declined in the third quarter as weaker domestic coke sales and contract economics weighed on results.

U.S. Steel has announced a $75-million capital investment to install a new premium thread line at its Fairfield Tubular Operations in Alabama.

Zekelman Industries said Canadians who report the use of foreign steel in active or future public construction projects are eligible for a CAD$1,000.00 (USD$711.62) payment.   

Nucor increases HR spot price by $5/ton

The pig iron market in Brazil saw some activity last week that could present some additional options to producers there, but at lower price levels.

With infrastructure demand shifting toward digital capacity, Nucor Corp. is positioning itself as the go-to steel supplier for the data center boom.

The latest Baker Hughes rig count report showed oil and gas drilling slowing in both the US and Canada last week.

CRU analysts break down their top takeaways from CRU's 31st Annual Ferroalloys Connections Summit, held Oct. 19-21 in Miami.

Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet and plate products than they were in recent weeks.

Steel mill lead times marginally extended for both sheet and plate products this week, according to responses from SMU’s latest market survey.

Flack Global Metals (FGM) announced Thursday that it would expand into Texas by assuming the Houston operations of NSPS Metals.

Algoma Steel’s net loss more than quadrupled in the third quarter on trade woes and its EAF transition. Separately, the company announced a change in leadership, as CEO Michael Garcia will retire at the end of the year.

Algoma Steel Group Inc. CEO Michael Garcia will retire at the end of the year, the company said on Tuesday. Rajat Marwah, CFO of the Canadian flat-rolled steelmaker, will be appointed president on Nov. 1 and CEO on Jan. 1.

Participants in the domestic steel plate market said the plate market never accepted mill-issued spot price increases. 

The domestic scrap market will start to form as early as next week for November shipment, sources told SMU. Predictions as of now are neither very positive for an increase nor are they negative for a decrease.

Executives framed the all-stock deal as a path to scale, efficiency, and long-term growth despite ongoing weakness in the metals market.

SMU’s hot-rolled coil price increased for a third consecutive week. And the gains were more pronounced this time following a price hike initiated on Friday by NLMK USA.

Sheet steel indices increased across the board this week, while plate prices held steady. All five of SMU’s price indices are higher than they were two weeks ago, and all but one are above levels recorded four weeks ago.

President and CEO Eddie Lehner said Ryerson has faced market headwinds in the third quarter.

Nucor entered the fourth quarter with clear forward momentum: stronger-than-expected results, solid sheet and plate demand, and construction progress on a major new mill that should add capacity next year.

Participants on this month’s Heating Air-Conditioning & Refrigeration Distributors International (HARDI) Sheet Metal/Air Handling Council call expect galvanized steel base prices to firm up in the first quarter of 2026.  

NEMO Industries CEO talks cost and reasoning behind a $3-billion pig iron project in Louisiana.

Nucor has pulled the plug on a planned rebar micro mill in the Pacific Northwest.

Nucor’s profits more than doubled in the third quarter year over year, but the company expects Q4’25 to be lower sequentially.