Category: Region

Sheet and plate prices remained on an upward trend as industry sources increasingly asked whether improved demand might be driving the market as much as limited supply.

Most manufacturing indicators strengthened through March and showed strong positive annual growth.

The agency found sufficient evidence to support the petitioners' allegations of dumping and subsidization and thus took up the case.

POSCO said its negotiations with Cleveland-Cliffs remain active, citing differences in opinions for lagging progress.

The Trump administration's invocation of the Defense Production Act authorizes the Department of Energy to use DPA tools to accelerate construction, expand domestic manufacturing capacity, and shore up critical supply chains – all areas with direct implications for steel.

President Donald Trump has threatened to raise tariffs on auto imports from the European Union to 25% from 15%.

Domestic raw steel production increased to a new multi-year high last week, per AISI figures.

Chinese major Baosteel will re-evaluate its investment in a steel plate making joint venture in Saudi Arabia because war in the Middle East has added uncertainties to the project, Baosteel Chairman Zou Jixin said.

The Canadian government has announced CAD$1.5 billion (USD$1.1 billion) in funding available to help companies impacted by US metals tariffs.

The prevailing sentiment for May is that #1 busheling and bundles are likely to increase. This may cause pig iron to continue its upward trajectory.

I haven’t done a deep dive into our sentiment data for a little while. And it’s timely to do so now. Why? Because we’re seeing what I’ll call the inverted yield curve of steel buyers’ sentiment.

US manufacturing activity grew for the fourth straight month in April, according to the latest report from the Institute for Supply Management (ISM). April marked the 18th month of overall economic expansion.  

Domestic sheet market participants found business conditions remarkably consistent this week. 

The price gap between US hot-rolled coil (HR) and landed offshore product tightened this week. The dynamic continues even as stateside and import prices diverged a bit vs. the prior week.

Drilling activity increased in the US this week but declined in Canada, per Baker Hughes.

Long products from Algeria are facing the wrath of the US legal system.

AMU: Ford and GM's results show earnings supported by tariff timing and mix, while volumes, inventory, and cash flow point to a constrained supply and uneven demand.

CRU: 62% Fe iron ore prices remained rangebound in April following the surge in the first half of March.

Steel mill lead times continue to hold at or near multi-year highs for both sheet and plate products, territory they have been in two months.

ArcelorMittal’s North American operations posted higher sales results sequentially and year over year (y/y) in its Q1 earnings report.   The North American segment of the Luxembourg-based steelmaker reported 8.3% higher sales in Q1’26 compared with the previous quarter. The steelmaker credits higher average selling prices, up 3.5% from Q4, and a jump in steel shipments, up 5.2%.

Mexico’s federal government and the country’s national steel chamber, Canacero, signed a new Agreement for the Promotion of the Mexican Steel Industry. This positions the steel sector as a core pillar of the national Plan Mexico industrial strategy.

This week we saw low negotiation rates across all products, though coated products are the most negotiable and plate products are the least.

Negotiations between the United Steelworkers (USW) union and U.S. Steel will not begin early, according to a text message to union members obtained by SMU.

A broad coalition of steel groups have written a letter urging the US government not to allow China access to the domestic auto market.

The Chicago Business Barometer eased for a second consecutive month in April. The 3.6-point slip to 49.2 for the month represents a fall back into contractionary territory.

Turner Industries said it's dedicating two state-of-the-art nuclear fabrication facilities in New Iberia and Port Allen Louisiana to producing high-precision modules and nuclear-grade piping.

SunCoke Energy Inc. bled red in the first quarter as severe winter weather and a turbine failure at its Middletown, Ohio, facility weighed on coke production and power sales.

Anton Posner, CEO of Mercury Resources, will join Steel Market Update (SMU) and Aluminum Market Update (AMU) for a Community Chat on Thursday, May 14, at 11 am ET.

Anti-dumping and countervailing duties on imports of non-grain-oriented electrical steel (NGO or NOES) will stay on the books for another five years.

Market sources say 2026 could be a stronger year for plate market participants than 2025 if this week’s conditions are indicative of how the rest of the year plays out.