Category: Region

Deere & Company's latest earnings report put a spotlight on the mounting costs of tariffs across the agricultural and heavy machinery sectors.

The Chicago Business Barometer tumbled to an 18-month low in November, according to Market News International (MNI) and the Institute for Supply Management (ISM)

Canada’s Algoma Steel announced ~1,000 layoffs on Monday as a result of disruptions from the US tariff situation.

Oregon Steel Mills has joined other producers, announcing a price increase of at least $40 per short ton for steel plate.

The Institute for Supply Management’s (ISM) latest report reflects the dim market conditions reported by US manufacturing executives in November. 

ArcelorMittal Dofasco and Stelco are aiming to increase spot market base prices by a minimum of CA$100 per short ton (US$72/st), effective immediately.

Nucor increased its weekly hot-rolled coil spot list price by $5 per short ton (st) on Monday, Dec. 1. This was its sixth increase in as many weeks, moving up $45/st over that span.

Canadian Prime Minister Mark Carney announced new measures on Wednesday to strengthen the country’s domestic steel industry, which include a tariff on some downstream steel-intensive goods.

The price gap between stateside hot band and landed offshore product tightened further this week, as the average price for domestic hot-rolled was $10/st higher w/w.

US and Canadian rig counts both declined this week, according to the latest Baker Hughes data released on Wednesday, Nov. 26.

Algoma Steel CEO Michael Garcia has been recognized by Canada’s The Globe and Mail newspaper as “CEO of the Year: Corporate Citizen.”

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

Steel mill lead times extended this week on all sheet and plate products tracked, according to responses from SMU’s latest market survey.

All five of SMU’s sheet and plate price indices increased this week for the second week in a row, with all products inching up to new multi-month highs. Prices are now up by $30-70/st compared to those seen four weeks ago.

The situation has altered in the Brazilian pig iron market since our last update on Nov. 13. At the time, we reported things were at a standstill for sales to US-based steelmakers.

US steel imports declined considerably in September and October, with trade falling to reduced levels not seen in nearly five years.

Republic Steel’s shuttered facilities in Lorain, Ohio, could find new life as international steelmakers, citing US tariffs, explore restarting operations there.

German Economy Minister Katherina Reiche expressed frustration with US levies on steel and aluminum products. The US contends the EU is unfairly targeting its big tech firms.  

SSAB Americas aims to increase prices on all its products by at least $40 per short ton (st).

Nucor plans to increase prices for steel plate by $30 per short ton (st). The move coincides with Charlotte, N.C.-based steelmaker opening its plate orderbook for January.

Domestic steel production improved last week, according to the latest figures from the American Iron and Steel Institute (AISI).

Toyota says its $912‑million investment in the US will boost production capacity for hybrids and introduce hybrid‑electric Corollas.

General Motors (GM) is planning a ~$250 million investment to upgrade its Parma Metal Center. The outlay is part of GM's plans to invest ~$4 billion in its US-based manufacturing operations over the next two years. Its 2025 reshoring commitments currently total over $5 billion.

Nucor increased its weekly hot-rolled coil spot list price by $5 per short ton (st) on Monday, Nov. 24. This was its fifth increase in as many weeks.

Following four consecutive monthly declines, world crude steel output recovered 1% from September to October to an estimated 143.3 million metric tons (mt), according to the World Steel Association (worldsteel).

Wiley attorneys Alan Price and Ted Brackmeyer argue that significant changes to the USMCA and continued Section 232 tariffs on Canada and Mexico are needed to support American steelmaking.

Across BlueScope as a whole, it was the North Star operations in Delta, Ohio, that shone brightest in the Australian company's first-half fiscal 2026 trading update.

Sources say domestic mill lead times and consumer spot prices have increased this week.

ArcelorMittal's Mexican operations have faced a turbulent stretch over the past two years, marked by labor unrest and operational setbacks at its Lázaro Cárdenas steelworks.

The downward trend in Chinese steel export prices continued over the past month, as domestic demand in the country failed to recover following the Golden Week holidays.