Category: Region

Are we on the cusp of sorting out the tariff situation, or is this merely another round in the bout?

Sheet and plate prices slipped this week on so-so demand, sideways scrap prices, and chatter that certain mills were making unsolicited calls looking for tons.

Following one of the lowest levels seen in more than two years, US steel imports rebounded from April to May. However, trade remains low relative to recent years. Preliminary license data suggests another fall in June.

CRU Senior Steel Analyst Alexandra Anderson discusses current market and pricing dynamics for long steel products in the US.

We can interpret that managed money still has expectations of price strength while physical participants are running closer to a balance on a net basis.

Steel trade groups praised the passage of the Big Beautiful Bill (BBB) in Congress on Thursday.

The rig count declined for the 10th consecutive week in the US, while Canadian count rose for the fifth straight week, according to Baker Hughes.

CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.

Following the onset of the war in Ukraine in March 2022, concerns about import availability and expectations of rising demand from President Biden’s Infrastructure Bill pushed US rebar prices to record highs. In response, a flurry of new mills and capacity expansions were announced to meet the rise in demand from growth in the construction […]

David Schollaert presents this week's analysis of hot-rolled coil prices, foreign vs. domestic.

Steel buyers this week are lamenting weak demand, cautious buying, and So. Much. Uncertainty. I'm no doctor, but I suggest a dual diagnosis of extreme tariff fatigue and early-onset summer doldrums.

Ferrous scrap export activity has picked up steam.

CDC Atlantic already houses 13 die-casting machines (ranging from 900 to 1,600 tons), three on-site furnaces, and shot blasting capabilities.

Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.

Canada has implemented tariff-rate quotas (TRQs) on steel imports to help stabilize its domestic market.

The owner of Liberty Steel and his family were among the six victims of a plane crash in Ohio on Sunday, according to local media reports.

Will more DRI investment come to the US?

The Chicago Purchasing Managers Index (PMI) slipped 0.1 points to 40.4 points, in June.

A roundup of trade news, what's up with Brazilian pig iron, SMU's latest survey results and more to keep you up to date.

Oil and gas drilling activity declined for the ninth-consecutive week in the US, while Canadian counts rose for the fourth straight week, according to Baker Hughes.

Stainless prices in the US market will rise, following price increases by major US producers. Our base case scenario incorporates higher US prices in the near term, despite the initial negative reaction by the market.       US stainless prices will go up in 2025 H2 and will stay elevated in 2026 as tariffs on stainless […]

Both of SMU’s Steel Buyers’ Sentiment Indices edged higher this week. Current Sentiment rebounded from a near five-year low, while Future Sentiment rose to a two-month high

The Canadian steel industry is bracing for thousands of job losses because of US tariffs, the Canadian Steel Producers Association says.

Maybe some of this uncertainty will get ironed out ahead of Liberation Day tariffs resetting higher rates on July 9. But if I had to place a wager, it would be on more drama and last-minute brinksmanship - whether it comes to the Liberation Day tariffs or the various Section 232s that are in the works.

After a hot start to June, the CME ferrous derivatives complex has cooled down.

Following the uptick seen two weeks ago, lead times eased this week for all four sheet products tracked by SMU, while plate lead times held steady, according to this week’s market survey.

“Contractors say that they're still busy, but their order books have gotten a lot softer or a lot more uncertain,” said Ken Simonson, chief economist for The Associated General Contractors of America.

Steel market participants contend that buyers will remain in “wait-and-see" mode until some market stability is restored. 

The majority of steel buyers responding to our latest market survey say domestic mills are more willing to talk price on sheet and plate products than they were earlier this month. Sheet negotiation rates rebounded across the board compared to early June, while our plate negotiation rate hit a full 100%.

Could the US and Mexico end up with a tariff-rate quota system?