Category: Region

US scrap prices declined in April for all the grades tracked by SMU amid tariff uncertainty, according to market sources.

The Canadian steelmaker said its absorbing higher tariffs as it moves forward.

Investment firm Ancora Holdings Group has halted its play for U.S. Steel's board, citing Nippon Steel’s proposed bid for USS “gaining momentum.”

Let’s just say the impact of the latest tariffs on the domestic steel market is uncertain at best.

This week is the first time all of our indices have moved lower in unison since July 2024.

US steel imports returned to normal levels in February after climbing to a near three-year high in January, according to finalized trade data published by the US Commerce Department. March license data suggests imports have remained within this normal range.

Ancora’s intention to replace U.S. Steel's leadership was first announced in late January.

The imposition of reciprocal tariffs by President Trump as explained on Wednesday afternoon has rattled virtually every market. This policy has some advantages for the steelmaking sector, but there may be some disadvantages that were not considered, especially for the EAF producers of flat-rolled.

US light-vehicle (LV) sales increased to an unadjusted 1.59 million units in March, more than a 30% surge over February and 10.7% above year-ago totals, according to US Bureau of Economic Analysis data.

The construction sector added 13,000 jobs, seasonally adjusted, in March, but tariffs could undermine the industry.

For trading partners, the tariffs will reduce demand for exports and depress growth. Over the coming days, trade partners will almost certainly announce retaliation, which will hit US exports.

Respondents to the SMU Survey weigh in on the steel landscape.

Tariffs are taxes that the government collects. Funds are disbursed by acts of Congress. If domestic companies, including manufacturers, are to benefit from “protective” tariffs, they must raise their prices as well. Maybe not by the entire amount of the tariffs, but by some. Inflation will come.

The constant flow of information we all receive can be a little overwhelming, but SMU is here to help with a snapshot of the week.

After last year’s historic turnout, the buzz around SMU’s Steel Summit 2025 is picking up. So, it’s no surprise room blocks are going quick, and I mean FAST. Get ready for another blockbuster event! This year’s meeting of the North American flat-rolled steel industry is shaping up to be another record-setting gathering with a timely […]

Supply chains are working through what the tariffs mean for them

The number of active oil and gas drill rigs declined this week in both the US and Canada, according to the latest data from Baker Hughes. US rig counts remain just above multi-year lows, while Canadian activity continues its seasonal slowdown.

The US Commerce Department on Friday released preliminary anti-dumping margins in a trade case targeted imports of coated flat-rolled steel from 10 countries. Certain countries and mills were hammered while others were largely spared. Brazilian steelmaker CSN, for example, received a preliminary rate of 137.76%. Some Turkish mills – including Boreclik and ArcelorMittal Celik Ticaret – received no dumping margin at all.

Market dynamics are shifting rapidly, with futures pricing diverging from physical fundamentals, creating a complex landscape for steel traders.

Canada imposes auto tariffs, while automaker Stellantis temporarily idles some plants.

The Commerce Department has made a preliminary determination that ‘critical circumstances’ exist for certain imports of corrosion-resistant (CORE) flat-rolled steel from the United Arab Emirates (UAE). Commerce decided that critical circumstances did not apply to CORE from South Africa. The department also found that critical circumstances did not apply to CORE from UAE producers Al-Ghurair Iron & Steel LLC and United Iron & Steel Company LLC.

If you import aluminum products, here’s where things stand after President Trump's "Liberation Day."

Announcing tariffs is easy. Implementing them at the border? That’s a whole different ball game.

Buyers responding to our latest market survey reported that sheet lead times continue to gradually decline from recent highs. Meanwhile, plate lead times increased to levels last seen one year ago.

Four out of every five steel buyers who responded to our latest market survey say domestic mills are unwilling to negotiate on new order spot pricing. Mills have shown little flexibility on pricing for nearly two months.

President Trump’s promised “Liberation Day” has arrived, with a 10% minimum tariff on imports. But there are some very important exceptions: The United States’ USMCA partners, Canada and Mexico, are excluded from the reciprocal tariffs for now. In addition, steel, aluminum, as well as autos and auto parts are excluded from the reciprocal tariffs. That’s […]

Sheet and plate prices were mixed on Tuesday as the market took a wait-and-see approach to the Trump administration’s “Liberation Day” tariffs.

US manufacturing activity slowed in March after two straight months of expansion, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.

The Chicago Business Barometer increased for the third-consecutive month in March. Despite this, it still reflects contracting business conditions, as it has since December 2023.

I’m not sure what I can write today that won’t be old news after April 2. The Trump administration has dubbed Wednesday “Liberation Day.” Since it’s mostly about tariffs, let’s just call it “Tariff Day.” Or maybe we should call it “Tariff Week” – since tariffs typically dominate the news cycle in the first week […]