Category: Region

The price gap between US hot-rolled coil (HR) and landed offshore product has been relatively flat to begin the year.

Just over a third of the steel buyers who responded to our market survey this week reported that domestic mills are willing to talk price to secure new spot orders.

US steel imports have fallen sharply under the new 50% Section 232 tariff regime. Jerry Richardson, general director of CSN LLC, discussed on an SMU Community Chat this week how the market is now structurally tighter and more volatile than at any point in the past decade.

The Italian authorities have seized a Russian cargo of hot-briquetted-iron (HBI) for violating European sanctions on Russian ferrous imports, according to media reports.

Altos Hornos de México (AHMSA) announced a proposed schedule and minimum sale price for the auction of the bankrupt steelmaker and its Minera del Norte (MINOSA) operations.

The volume of raw steel produced by US mills grew last week, holding on to the gains seen the prior week, according to the latest figures released by the American Iron and Steel Institute (AISI).

SMU’s sheet price indices climbed to new multi-month highs this week, while plate prices marginally declined.

Metallus and the United Steelworkers (USW) have agreed to another tentative four-year contract, the specialty metal producer announced.  

Cleveland-Cliffs' shuttered tin mill in Weirton, W.Va., caught fire on Saturday as a crew worked to recover scrap metal ahead of the plant's demolition, according to a local news reports.

ArcelorMittal Mexico announced it has restarted the blast furnace at its Lazaro Cardenas steel mill in the state of Michoacan on Mexico's Pacific coast.

Zekelman Industries is transitioning in a new chief financial officer upon the upcoming retirement of current CFO Mike Graham.

The Bureau of Land Management (BLM) has provided Warrior Met Coal official permits for expanding its Tuscaloosa, Ala.-based mining projects.  

We’ve got some exciting announcements to make about the Tampa Steel Conference, which is now less than a month away! First, I’m very happy to say that Worthington Steel President and CEO Geoff Gilmore will be joining Kloeckner Metals CEO John Ganem on the stage for a fireside chat with my colleague David Schollaert.

Last week, the government of China reported a trade balance of $1.12 trillion in 2025, the largest merchandise trade surplus in history. And this surplus was despite massive tariffs imposed by the United States and other countries, partly in an effort to rein in China’s trade juggernaut.

Though they’re hopeful, domestic sheet market sources didn’t share a bullish outlook on the market this week.

The amount of finished steel that entered the US market contracted from September to October, driven primarily by slowing domestic mill shipments, according to SMU’s analysis of Department of Commerce and American Iron and Steel Institute (AISI) data

The number of oil and gas rigs operating in the US fell this week, while Canadian activity recovered further, according to the latest data released from Baker Hughes.

The Commerce Department has released preliminary countervailable subsidy rates in the ongoing rebar trade case.

The volume of steel shipped outside of the country increased 11% from September to October 2025 to a seven-month high of 662,000 short tons (st), according to recently released data from the US Department of Commerce.

Members of the Congressional Steel Caucus met in Washington on Wednesday to assess the state of the domestic steel industry. Lawmakers and industry leaders discussed the importance of Section 232 tariffs, strong trade enforcement, and continued investment in American steelmaking.

There was a fire at an electrical substation “near and owned by Steel Dynamics (Inc.’s) Southwest-Sinton Flat Roll Division,” according to a media report on Wednesday.

Participants in the domestic steel plate market said they are maintaining strong order books, experiencing longer lead times, and finding mills are less open to negotiating prices.

The galvanized steel market has kicked off the year with a firmer tone, marked by rising prices, lengthening lead times, and a noticeable shift in buyer sentiment. Service centers and distributors on HARDI’s latest sheet metal and coil handling council call described a market that is not overheating but steadily tightening.

The majority of SMU’s sheet and plate price indices rose this week, with multiple products climbing to new multi-month highs

Ferrous scrap prices jumped on all the products SMU tracks in January, scrap sources said.

According to recently released final US Commerce Department data, US steel imports rebounded 11% month on month (m/m) in October 2025 after falling to a multi-year low one month earlier. The latest license figures suggest imports eased back by 3% in November and by another 2% in December, with trade again nearing historical lows.

A look at some of the results from SMU's January scrap market survey.

Greer Steel Co. has been purchased by Mutares SE & Co., an international private equity holding company based in Munich.

As we move into 2026, it’s time to look forward. While the “Donroe Doctrine,” Venezuela, and Greenland absorb significant press attention, important trade developments will also continue to make headlines this year. The unprecedented changes we saw in 2025 will continue in 2026, particularly in the areas of IEEPA and tariffs, USMCA, and the WTO.

This CRU Insight provides details on the decline of Venezuela’s steel, DRI, and iron ore industries, which highlights the potential scope of recovery with the right policy agenda and support.