Category: Region

Alkar Steel and Processing supplies hot- and cold-rolled steel, high carbon spring steel, high strength-low alloy steel, coated and stainless steel products throughout the Midwest.

The number of active oil and gas rigs operating in the US held steady this week for the fifth consecutive week, while Canadian activity declined further, according to the latest figures released from Baker Hughes.

“U.S. manufacturing activity contracted again in December, but at a slower rate compared to November,” according to Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee.

We never eat chicken on New Year’s Day. My Irish-Catholic grandmother thought it was bad luck – because chickens scratch backward. And one should start the year looking forward. But it’s hard to avoid the fact that we’re carrying a lot 2024 issues (and even 2023 ones) forward into 2025. That’s not all bad. We’re starting 2025 with SMU’s hot-rolled coil price at $675/per short ton (st). That’s $370/st lower than $1045/st at the outset of 2023, according to our interactive pricing tool. I think we can safely say that a decline of that magnitude won’t happen in 2025.

Construction spending inched higher in November for a second straight month.

The December reading of 36.9 declined 3.3 points from the previous month to the lowest reading since May 2024.

Worthington Steel's CEO feels optimistic as the company heads into its second year as a standalone company.

The number of oil and gas rigs operating in the US remained unchanged this week for the second consecutive week, while Canadian activity declined, according to the latest data released from Baker Hughes.

Recovery continues but geopolitical risks remain for 2025

A trustee has formally taken over AHMSA and begun the liquidation process of the bankrupt Mexican steelmaker.

Nippon Steel and a Japanese trading company have entered an agreement to buy a 49% interest in a Champion Iron ore project in Canada.

Both of our Sentiment Indices remain in positive territory and indicate that steel buyers are optimistic about the success of their businesses.

In the last article written for SMU, we looked at the rallies that followed both the 2016 and 2022 presidential elections, as well as the moves in the NFIB Small Business Optimism Index.

Steel mill production times have seen very little change since September, according to buyers participating in our latest market survey.

“Manufacturers are optimistic,” said Timothy R. Fiore, chair of ISM’s Manufacturing Business Survey Committee.

Steel buyers of sheet and plate products say mills are still willing to bend on spot pricing this week, though not quite as much as they were two weeks prior, according to our most recent survey data.

Depressed demand and weak prices drove Worthington Steel’s second fiscal quarter results to a sequential decline.

“New commodity-specific tariffs, mainly on steel and aluminum products, could widen price differentials and divert trade flows,” the credit agency forewarned.

The price premium between stateside hot band and landed imports widened slightly this week.

We have seen very little change in sheet and plate prices across the past month.

Following a substantial recovery in November, business activity in New York state’s manufacturing sector held steady in December, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

In 2024, volatility with a capital “V” has been the rule. That will remain high heading into 2025.

The world has had a few shocks recently. The CEO of a major health insurance company was gunned down in Manhattan. The 50-year Assad dynasty in Syria was pushed out less than two weeks after rebels started an offensive. And President-elect Trump is promising tariffs on everything a month before he takes office. But one shock has been taking place for a lot longer than the last few weeks. The 70-year consensus on trade hasn’t just been challenged. It’s been repudiated.

The volume of steel exported from the country declined in October for the second-consecutive month, following a one-year high in August.

It’s been another week of torrid speculation when it comes Trump and tariffs. And another week of mostly flat price movement when it comes to steel sheet and plate. As far as Trump and tariffs go, I think I might have lost track. We've potentially got 10% blanket tariffs on imports from China, 25% tariffs on imports from Canada and Mexico, 100% tariffs on the BRICs, and 200% on Caterpillar. Canada might be the 51st state. Mexico could be the 52nd state. But all can be resolved if you stop by Mar-a-Lago and kiss the ring?

Steel prices have remained relatively stable in recent weeks, though they have generally trended downward since October.

With just over a month to go until Inauguration Day on Jan. 20, President-elect Donald Trump has already signaled some of his policy choices that will affect the steel industry.

Monthly imports have remained within a relatively narrow range since June, significantly lower than volumes seen earlier this year, but stronger than late-2023 levels.

Import arbitrations expressed via futures may become enticing as coil price spreads expand. The spread market in CME US hot-rolled coil (HRC) is currently navigating a period of volatility, with prices fluctuating post-election, leaving traders uncertain about the market's direction.

Vedoya said the proposed tariffs are "an irrational measure that would harm both their own industry and ours."