More appliances added to downstream S232 tariff list
The Trump administration has expanded the list of derivative steel products covered by the now 50% Section 232 tariff.
Category: Product
Northwest Pipe changes name to NWPX Infrastructure
Northwest Pipe changes name to NWPX Infrastructure.
Export scrap market remains subdued
Despite high expectations, the export scrap market has not moved up.
CRU: Sheet demand remains weak, tariff changes again alter markets
Subdued demand has continued to weigh on steel sheet prices globally.
SMU Survey: Mills less negotiable on sheet prices, buyers say
Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet products than they were in recent weeks, but remain open to bargain on plate prices.
HRC vs. prime scrap spread widens in June
The price spread between HRC and prime scrap widened in June.
Brazilian pig iron prices fail to rise
Brazilian pig iron prices fail to rise after ferrous scrap market settle.
Ferrous scrap pricing sideways in June
Ferrous scrap prices in the US have remained stable from May to June.
Tariffs, ample domestic supply cause importers to shift or cancel HR import orders
Subdued demand is causing importers to cancel hot-rolled (HR) coil orders and renegotiate the terms of shipments currently enroute to the US, importers say. An executive for a large overseas mill said customers might find it difficult to justify making imports buys after US President Donald Trump doubled the 25% Section 232 tariff on imported steel […]
SMU Scrap Survey: Sentiment little changed despite uncertainty on demand, trade policy
Both current and future scrap sentiment as measured by SMU’s Scrap Market Survey are little changed from last month. The relative stability might reflect June’s sideways settlement. Both measures remain below where they were earlier this year.
Drilling activity slows in the US, grows in Canada
Oil and gas drilling activity was mixed this week, according to Baker Hughes. US totals slipped for a sixth straight week, while Canada saw a slight bump in activity.
SMU scrap market survey results now available
SMU’s 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 flat-rolled survey results are also available under that selection. If you need help accessing the survey results, […]
Miller on Scrap: More malaise, or will tariffs lead to higher prices?
If we review the price trends for the last two years, we can see this year’s pattern following a similar path.
AISI: April mill shipments fall, sheet down YTD
US steel mills saw a decline in shipments from March to April.
Miller on Ferroalloys: Tariff confusion
How is the ferroalloys market in the US faring with the new tariffs.
Miller on Scrap: Trump tariffs seen having little impact on June market
How have tariff revelations affected the June market?
Commerce finds no Korean OCTG shipments below market value
US Department of Commerce (Commerce) review found no South Korean oil country tubular goods (OCTG) exporters or producers sold products below market value
Drilling activity slows further in US and Canada
Oil and gas drilling activity declined again this week in both the US and Canada, according to Baker Hughes.
CRU: Zinc premium remains elevated on future supply concerns
CRU analysts discuss how downward pressure on the US premium has persisted due to weakness in key consuming sectors, while concerns over zinc supply have been largely alleviated for the time being.
SMU Survey: Sheet lead times fall to multi-year low
Mill lead times shrunk this week for all of the sheet products tracked by SMU and held steady on plate, according to buyers responding to our latest market survey.
SMU Community Chat: Zekelman calls for more support for steel consumers
“Unless the administration actually gets serious about levelling the playing field… for consumers of steel, then everything they've done on the steel side is useless."
US pig iron prices on the decline
The US mills have managed to reduce pig iron prices to correspond with the sharp declines in domestic scrap prices in May.
SMU Community Chat replay now available
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]
Miller on Scrap: Sentiment for June brightening
Ferrous scrap outlook for June appears on the upswing.
Nucor maintains plate prices, again
Nucor aims to keep plate prices flat again with the opening of its July order book.
Asian HR remains much cheaper than US, EU product
Domestic hot-rolled (HR) coil prices were flat this week after declining seven of the last nine weeks. Offshore prices have also eroded in recent weeks, though not nearly as significantly as in the US.
CRU: Global sheet prices remain under pressure as exporters undermine domestic markets
One cause of this was increased competitiveness from imports that have put pressure on some domestic producers.
Galv buyers less optimistic about short-term market
“It was a little more of a seller's market as contractors seemed to be protecting themselves against a potential run up in prices," one buyer said.
June scrap market appears 'soft sideways,' pig iron down
An update on the ferrous scrap market.
Three Italian CTL plate companies get AD duties, two removed
Commerce began a review of five producers/exporters: NLMK Verona; Officine Technosider; F.A.R. Fonderie Acciaierie; Ferriera Valsider and Metinvest Trametal.