Category: Region

Following November’s nine-year low, heating and cooling equipment shipments rebounded 19% in December.

Strategic Resources also discussed its project in Quebec, which will include a 4-million-ton/year DRI-quality iron ore pelletizer. It also plans to build a plant to produce DRI, then convert it to pig iron in an EAF.

Nucor on Friday announced plans to increase plate prices by $50 per short ton (st).

CRU: US Midwest sheet prices have continued to rise from our mid-January assessment.

Hot-rolled coil hovering near $970 per ton could push toward $1,000, but Timna Tanners cautioned at the Tampa Steel Conference that anything “much above that” becomes difficult to sustain. Still, she argued that mills’ slow, disciplined price increases are working in their favor.

The deal is expected to close Friday, Feb. 13.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.

The price gap between US hot-rolled coil (HR/HRC) and landed offshore product was largely flat this week, as price movements stateside and abroad mirrored each other. Still, the premium for US hot band over imports has remained in a relatively tight band since early December.

Ternium SA has completed its buyout of Nippon Steel and Mitsubishi’s shares in Brazilian flat-rolled steelmaker Usinas Siderúrgicas de Minas Gerais SA – Usiminas (Usiminas).

SMU’s sheet price indices inched up to new multi-month highs this week, while plate prices held steady.

Friedman Industries delivered a strong fiscal third quarter, posting sharp gains in sales, shipments, and margins across both its flat-rolled and tubular segments.

Plate production for the construction of the Polar Max Icebreaker is underway at Algoma’s Sault Ste. Marie facility in Ontario.  

MagIron LLC is moving to advance its DR-grade pellet and pig iron strategy. The Minnesota-based company closed on its acquisition of AHMSA's Reynolds Pellet Plant in Indiana on Dec. 31.

Cleveland-Cliffs Inc. continued to bleed red in the final quarter of 2025. But the steelmaker expects profitability to improve in 2026 with a troublesome slab contract behind it and more protections from imports in place.

Domestic mill output ramped up last week to a five-month high, according to the latest production data released by the American Iron and Steel Institute (AISI). Production has held strong in recent weeks following the multi-month lows seen at the end of the year.

AZZ Inc. expects steady top-line growth and improved annual earnings, capitalizing on new capacity ramp-up and strong downstream demand.

The United Steelworkers (USW) Local 1123 has ratified a four-year labor contract with Metallus effective Feb. 5.

November apparent steel supply declined 9% or 772,000 short tons (st) from October to 7.61 million st, the lowest measure recorded since February 2021

Plate market participants expect domestic producers to issue a $40-60 per short ton (st) price increase.

The Dodge Momentum Index (DMI) fell 6.2% in January to 272.7, retreating from December’s downwardly revised reading of 291.0, according to the latest data released by Dodge Construction Network.

US-flagged iron ore shipments on the Great Lakes fell last year vs. 2024.

Baker Hughes' latest rig count report shows oil and gas drilling picked up in the US this week, but slowed in Canada. Oil drilling in both countries is down from last year, while gas drilling has picked up, mainly in the US.

SMU’s Steel Buyers’ Sentiment Indices both edged lower this week following the multi-month highs set in mid-January.

GrafTech International closed 2025 with firmer sales volumes and significant cost reductions. But the graphite electrode producer remained deep in the red as global oversupply and aggressive competitor pricing continued to pressure realized prices.

The price gap between US hot-rolled coil and landed offshore product narrowed this week, as price movements stateside and abroad diverged.

November steel exports tumbled 15% from October to the lowest monthly export rate since July 2020.

Recent winter storms have impeded barge transportation along multiple Midwestern waterways, according to various transportation services. Likewise, U.S. Steel said it was facing challenging shipping conditions but does not expect customers to be impacted.

US rebar and wire rod prices rose month on month (m/m) alongside continued scrap increases, while merchant bar and structurals were unchanged.

One third of the steel buyers responding to our market survey this week reported that domestic mills are negotiable on new spot order pricing. Mills began to hold a firmer stance on prices towards the end of last year, tightening their grip in early January and holding it since.

SMU's ferrous scrap survey celebrates its one-year anniversary this month.