Category: Product

Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on. 

The scrap market in the US for September shipment has started to settle, with busheling seen down so far.

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

he US longs market remained stable this month despite ongoing challenges from tariff-impacted imports, even as end-use demand was relatively unchanged and scrap prices held flat in August.

As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.

Sheet and plate lead times held steady yet again this week, according to steel buyers responding to our latest market survey, a trend in place since May.

Sluggish economic activity across the US was largely attributed to uncertainty caused by tariff policies and growing cost pressures, according to the US Federal Reserve’s (The Fed) latest Beige Book report.   The Fed’s latest economic report, posted on Sept. 3, consists of economic findings from the six weeks preceding Aug. 25 throughout 12 districts. Economic […]

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.

Oil and gas drilling activity waned in the US and Canada this past week. Ticking own for the second straight week in both regions.

Most steelmaking raw material prices we track saw little change across the month of August. Iron ore, pig iron, shredded scrap, busheling scrap, zinc, and aluminum prices all held relatively steady,

Steel prices remained largely unchanged this week, staying at or near lows last seen in February. All five sheet and plate products tracked by SMU moved by no more than $5 per short ton (st) from the previous week.

The bipartisan Congressional Steel Caucus is pushing for US officials to maintain a robust Section 232 program as they negotiate trade deals with America's trading partners.

Oil and gas drilling activity slowed in the US and Canada this past week. An unfamiliar trend after both regions saw repeated gains of late.

Across the US and throughout the steel supply chain, market participants are reporting another painfully quiet week for hot-rolled (HR) coil sales.  

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

The question among scrap players is can the market hold its level in the face of coming mill outages? Opinions are divided on the subject.

Carbon steel plate market participants suspect that this week’s modestly softer prices are the result of quietly negotiated prices between plate purchasers and mills.

Steel buyers report steady lead times for sheet and plate products, a soft-sideways trend we've seen since May.

Scraping lower-quartile $800s on nearby futures is bringing limited trading ideas for CME hot-rolled coil (HRC) at present. 

Australia-based global recycler Sims Ltd. has a rosy long-term outlook, while the company said tariffs are supporting US demand for ferrous scrap.

Rep. Haley Stevens (D., Mich.) has announced the relaunch of the bipartisan Congressional Recycling Caucus.

Prices remain subdued in US pig iron market, sources said.

Nucor has lowered its hot-rolled (HR) spot price by another $10 per short ton (st) this week.

With so much happening in the news cycle, we want to make it easier for you to keep track of it all. Here are highlights of what’s happened this week and a few things to keep an eye on.

Oil and gas drilling in the US was unchanged this past week following three straight weeks of declining activity. Canada saw another gain, reaching a 22-week high.

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.

Market participants said they have high hopes that the stable hot-rolled spot market will improve as the year rolls on.  

The price spread between prime scrap and hot-rolled coil (HRC) narrowed in August, according to SMU’s most recent pricing data.

The US ferrous scrap market remains in doldrums.