Category: Region

Oil and gas drilling activity slowed in the US and Canada this past week. An unfamiliar trend after both regions saw repeated gains of late.

On Thursday, the U.S. and EU agreed to more concrete terms to their handshake deal of last month.

Domestic sheet prices in the US remained under pressure, limiting interest in imports, while domestic prices for longs products continued to rise.

SMU’s Steel Buyers’ Sentiment Indices moved in opposing directions this week. Our Current Steel Buyers’ Sentiment Index dropped to one of the lowest levels recorded in over five years, while Future Buyers’ Sentiment inched higher.

Carbon steel plate market participants suspect that this week’s modestly softer prices are the result of quietly negotiated prices between plate purchasers and mills.

With SMU Steel Summit starting in just a few days, I decided to go back and do a quick check on where things stand now compared to the week before Summit last year.

Steel buyers report steady lead times for sheet and plate products, a soft-sideways trend we've seen since May.

The Canadian Steel Producers Association expressed dismay upon the news that the Trump administration had added over 400 products to the list of derivative products covered by the 50% Section 232 tariffs on steel and aluminum.

The majority of steel buyers responding to our market survey this week continue to say that mills are negotiable on new spot order prices. Negotiation rates have remained high since May.

HRC prices in the US eroded further last week, while offshore prices varied week over week (w/w), widening the price margin between stateside and foreign product.

ArcelorMittal reported a "strong" explosion at the direct reduction part of its massive Lazaro Cardenas mill in Mexico.

US housing starts rose in July both month-on-month and year-on-year, according to figures from the US Census Bureau. 

China has requested dispute consultations with Canada at the WTO about Canadian measures on Chinese steel and aluminum imports.

Is a pattern finally emerging in the post-Liberation Day tariff landscape?

Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.

Steel Dynamics Inc. (SDI) announced that it has agreed to acquire the remaining 55% equity interest in New Process Steel. 

Prices remain subdued in US pig iron market, sources said.

North American auto assemblies declined in July, down 16.4% vs. August. But, according to GlobalData, assemblies were 2.4% ahead year on year (y/y).

US light-vehicle (LV) sales increased to an unadjusted 1.37 million units in July, 8.7% over June and 6.6% above year-ago totals, according to US Bureau of Economic Analysis data.

With so much happening in the news cycle, we want to make it easier for you to keep track of it all. Here are highlights of what’s happened this week and a few things to keep an eye on.

Business activity in New York state improved modestly in August. It was just the second positive reading for the general business conditions index in six months.

While boarding Airforce One on Friday, US President Donald Trump stated that he would be setting more steel tariffs and putting ~100% tariffs on semiconductors and chips.  

Oil and gas drilling in the US was unchanged this past week following three straight weeks of declining activity. Canada saw another gain, reaching a 22-week high.

Cold-rolled (CR) coil prices continued to decline in the US this week, while prices in offshore markets diverged and ticked higher.

The CRUmpi rose by 0.8% month over month (m/m) to 286.1 in August, following four consecutive months of decline. Scrap prices showed mixed trends across major regions, largely influenced by local supply-and-demand dynamics, government policies, and the relative strength of finished steel markets. US prices were stable while Europe and Asia saw price increases, but […]

The US scrap export market has traded sideways or slightly less for about 60 days, with no real firmness in sight.

We're getting ready to initiate the 10-day countdown until Steel Summit 2025 in Atlanta. Liftoff is on Aug. 25, and the conference goes through Aug. 27. With the speed at which things have moved this year, it will be great to take a breath and reflect on what's happened so far.

A tour of the economy as it relates to hot-rolled coil futures.

Market participants said they have high hopes that the stable hot-rolled spot market will improve as the year rolls on.  

On Monday and Tuesday of 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.