The United States International Trade Commission (ITC) has voted to continue investigations into oil country tubular goods (OCTG) from Austria, Taiwan, and the United Arab Emirates (UAE).
Global shipping volatility is tightening its grip on steel supply chains. And the risks are not easing; in fact, they’re escalating, according to Anton Posner, CEO of Mercury Resources.
Sources told SMU they’ve begun considering whether US imports of sheet might benefit the overall market.
The US rig count crept higher for a fourth week, while Canada's count held steady for a second, according to the latest data from Baker Hughes.
The uptrend in sheet prices is expected to continue in the coming month in most markets amid elevated energy and freight costs stemming from the Middle East conflict. Europe will buck the trend as demand in the region is likely to remain soft. Sheet prices in China are expected to continue rising over the […]
SMU’s Steel Buyers’ Sentiment Indices remained in strongly optimistic territory this week, based on responses from steel executives in our latest market survey.
Inventories are getting dangerously low. (Sheet stocks are at their lowest point since May 2021!) Lead times remain extended. And mills have few spot tons available. (The ‘a’ word – “allocation” – is being kicked around.)
SMU Survey: Sheet and plate lead times remain extended, according to buyers responding to our latest market survey.
Buyers continue to report mills are holding a firm grip on sheet and plate prices.
Algoma CEO forges new path against tariff headwinds
The Canada-United States-Mexico Agreement (CUSMA) is envied by many as one of the strongest trading partnerships in the world.
U.S. Steel delivered a mixed first quarter. Segment performances diverged sharply as winter weather, outage activity, and major capital projects weighed on results.
Plate market participants wonder how plate supply will hold up in coming weeks and months, sources told SMU. Some sources called out dwindling availability of heavier grades and said certain domestic producers have “a huge backlog.” of all grades.
The United Steelworkers labor union and U.S. Steel plan to address their partnership and profit-sharing agreement during the week of May 11.
Algoma Steel's loss widened in the first quarter as tariffs and the EAF transition impacted its bottom line.
US steel exports improved in March but remain historically low, having trended lower for over a year now.
All five of SMU’s sheet and plate price indices ticked higher this week, rising further to new multi-year highs. Prices increased between $5-25 per short ton (st) from last week and are $30-65/st higher than they were one month ago.
American Axle (Dauch Corp.) workers in Three Rivers, Mich., have voted to authorize a strike.
Chicago-based pipe and tube manufacturer Zekelman Industries has appointed Jason Nofziger as its vice president of supply chain, effective May 11.
Total heating and cooling equipment shipments jumped 24% from February to March according to recently released AHRI figures.
FabArc Steel Supply announced it will be leasing a 60,000-square-foot fabrication facility on 29 acres in Decatur, Ala.
Steel Dynamics Inc. (SDI) has revised their metallic coating extras higher for galvanized, Galvalume, Galfan, and aluminized type 1 products.
US mills' capability utilization hit 81.4% last week, up from 80.4% the week prior and from 76.6% a year ago.
The May scrap market took much longer to settle than most players anticipated, but the results are mostly in.
CFC Recycling has acquired Goolsby & Sons Recycling, a family-owned scrap and recycler in Gallatin, Tenn.
In a May 11 price notice, SSAB upped its transaction prices for new, non-contract plate orders confirmed to ship from June 28 onward.
On Monday, Nucor hiked its spot HR price by $10/ton.
The Iran war and the blockade of the Strait of Hormuz have sent oil and aluminum prices soaring higher. The impact on steel has been mostly indirect but hardly insignificant – especially when it comes to the costs of moving metal.
The process to reduce Section 232 steel and aluminum tariffs for producers in Mexico and Canada garnered mixed reactions from steel and metals’ supply chain advocacy groups.
Sheet market participants found modest spot price increases this past week, but conceded that overall market conditions remained stable.