Category: Region

Canadian Prime Minister Mark Carney has announced new measures to limit steel imports into the country.

Stateside prices continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.

The Canada Border Services Agency has terminated a self-initiated dumping investigation of corrosion-resistant steel sheet (CORE) from Turkey.

Evraz NA and Welded Tube of Canada have lodged an unfair trade complaint against imports of OCTG, including those from USMCA trading partners Mexico and the US.

US sheet and plate prices were flat or lower as reduced import volumes were offset by so-so demand.

US steel exports rose 10% from April to May but remained low compared to recent years. This came just one month after exports fell to the lowest level recorded in nearly five years.

President Trump's threatened tariffs on Brazil, USMCA partners, and Europe could shake up the scrap and pig iron markets in August.

The volume of raw steel produced by US mills inched higher last week, according to the American Iron and Steel Institute (AISI). After steadily increasing in April and May, domestic mill output stabilized in early June and has remained historically strong since.

Trade issues do not seem poised to leave the headlines anytime soon. And as recent developments show, the administration’s tariff policy remains ever-changing.

CRU Principal Analyst Shankhadeep Mukherjee expects a restocking cycle for steel sheet products in most parts of the world due to either low inventories or seasonally stronger demand.

US oil and gas drilling activity continued to decline for the 11th consecutive week, while Canadian counts climbed for the sixth week in a row, according to the latest data from Baker Hughes.

SMU’s Steel Buyers’ Sentiment Indices moved in opposite directions this week. After rebounding from a near five-year low in late June, Current Sentiment slipped again. At the same time, Future Sentiment climbed to a four-month high. Both indices continue to show optimism among buyers about their company’s chances for success, but suggest there is less confidence in that optimism than earlier in the year.

The difference: The spat with Turkey was a big deal for steel. This time, the 50% reciprocal tariff for Brazil – if it goes into effect as threatened on Aug.1 – hits everything from coffee and to pig iron. It seems almost custom-built to inflict as much pain as possible on Brazil.

Mill lead times for sheet products were steady to slightly longer this week compared to our late June market check, while plate lead times contracted, according to steel buyers responding to this week’s market survey.

Coming out of the holiday market and long weekend, it seems the HRC futures market has caught some post-vacation blues.

Hot-rolled (HR) coil prices in the US ticked down this week but have fluctuated little over the past month. Stateside tags continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.

Domestic mills are more open to talk price on new orders than they were in June, according to most steel buyers responding to our market survey this week. Negotiation rates have recovered from the early-June lull and are now just a few percentage points shy of the high levels seen late last year.

The announcement of 50% tariffs on Brazilian imports, including pig iron, could have a dramatic effect on steelmaking raw materials.

Ferrous scrap prices are flat in the US for a second consecutive month, but tariffs on imports of Brazilian pig iron could change the game in August.

With steel prices drifting and trade flows shifting, CRU analysts provided a grounded look at what's really happening — and what's not — across the metallics supply chain during Wednesday's SMU Community Chat.

President Donald Trump on Wednesday said he would increase the “reciprocal” tariff on imports from Brazil to 50% effective Aug. 1. That could have big implications for pig iron.

Are we on the cusp of sorting out the tariff situation, or is this merely another round in the bout?

Sheet and plate prices slipped this week on so-so demand, sideways scrap prices, and chatter that certain mills were making unsolicited calls looking for tons.

Following one of the lowest levels seen in more than two years, US steel imports rebounded from April to May. However, trade remains low relative to recent years. Preliminary license data suggests another fall in June.

CRU Senior Steel Analyst Alexandra Anderson discusses current market and pricing dynamics for long steel products in the US.

We can interpret that managed money still has expectations of price strength while physical participants are running closer to a balance on a net basis.

Steel trade groups praised the passage of the Big Beautiful Bill (BBB) in Congress on Thursday.

The rig count declined for the 10th consecutive week in the US, while Canadian count rose for the fifth straight week, according to Baker Hughes.

CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.

Following the onset of the war in Ukraine in March 2022, concerns about import availability and expectations of rising demand from President Biden’s Infrastructure Bill pushed US rebar prices to record highs. In response, a flurry of new mills and capacity expansions were announced to meet the rise in demand from growth in the construction […]