Category: Region

People remain concerned about inflation, trade policies, and tariffs.

The future of U.S. Steel remains unclear, but the proxy fight for control of the company is heating up. Shareholders will cast their votes on the company's future at the annual meeting in May.

The export situation from the US East Coast was interrupted last week after a political event in Turkey.

On February 10, President Trump announced a massive restructuring of tariffs on steel and aluminum. Those changes took effect on March 12, and they will impact US manufacturing. What will the impact be? Bye-bye exclusions Perhaps the most important change, which hits imports from all countries, is the loss of a product exclusion process to […]

SMU’s Buyers’ Sentiment Indices showed mixed movements this week but remain strong, reflecting continued confidence among steel buyers.

US rig counts remain slightly above multi-year lows, while Canadian activity is tapering off following a seasonal peak.

Are President Trump's tariff policies helping? Steel buyers offer their opinions on the impact of Trump's tariffs.

Over the past couple of weeks, Midwest HRC futures have been drifting lower on light volume. This begs the question if the rally has run out of steam, or is it catching its breath after ripping roughly $150 in less than two weeks? The April CME Midwest HRC future made an intraday high at $976 […]

After a multi-week increase, buyers responding to our market survey this week reported that lead times are stabilizing or marginally declining for each of the sheet and plate products we track.

Single-family starts last month hit a rate of 1.10 million, a month-over-month increase of 11.4%, census data shows.

The majority of the steel buyers responding to our latest market survey continue to report that domestic mills remain firm on pricing, showing little willingness to talk price on new spot orders this week.

The US scrap market is in for another unpredictable ride going into April. Questionable scrap flows, extended winter weather, and implications of tariffs on steel and scrap continue to have an impact.

The European Commission unveiled A European Steel and Metals Action Plan aimed at safeguarding the European Union’s steel and base metals production.

The ABI is a leading indicator for near-term nonresidential construction activity and projects business conditions ~9-12 months down the road (the typical lead time between architecture billings and construction spending).

After slumping in December to the lowest total since July 2021, February assemblies further expanded on January’s growth.

US light-vehicle (LV) sales increased to an unadjusted 1.22 million units in February, a 9.9% gain over January but 0.7% behind year-ago totals, according to US Bureau of Economic Analysis data.

Steel prices were stable to higher this week for the second consecutive week across the sheet and plate products tracked by SMU. Three of our price indices increased from the previous week, while two held firm.

The HRC vs. prime scrap spread increased again in March.

SDI expects energy, non-residential construction, and automotive to continue to drive demand.

After a modest recovery in February, business activity in New York state’s manufacturing sector declined sharply in March, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

Which is more important: producers or consumers? New (and arbitrary) steel and aluminum tariffs took effect last Wednesday. Based on the Section 232 trade restrictions initially imposed in 2018 – and kept by the Biden administration – they abrogate agreements between the US and Canada, Mexico, the UK, the EU, Argentina, Brazil, and Australia. They […]

US rig counts continue to hover slightly above multi-year lows, while Canadian activity is entering a seasonal decline after recently reaching a seven-year high.

International trade attorney Alan Price sat down with SMU to unpack the latest developments in Trump’s tariff merry-go-round.

Ferrous scrap prices rose across the board in March as the market adapted to short supply and the volatile tariff situation, sources told SMU.

President Trump’s tariffs are aimed in large part at bringing manufacturing back to the United States. In theory, it’s simple enough: Want to avoid a big tariff? Make it in the US!

Domestic hot-rolled (HR) coil prices moved higher this week, still largely outpacing increases seen in offshore markets. But the reinstatement of undiluted Section 232 tariffs on steel on March 12 cut the ballooning premium stateside prices had gained on most imports on a landed basis. The premium stateside tags had over prices abroad stood at […]

The United States has officially reinstated undiluted Section 232 tariffs on steel and aluminum as of Wednesday, . All imports of the metals, as well as some derivative products, now face a 25% tax when entering the US.

Canada and the European Union are retaliating against what they deem to be unjustified tariffs on steel and aluminum by the United States.

Domestic steel trade associations, manufacturing groups, and the United Steelworkers (USW) union had mixed reactions to the implementation of new Section 232 tariffs without exclusions on Wednesday. Trade groups representing steel mills broadly supported President Trump’s actions, while the USW and some groups representing manufacturers were more critical. AISI Kevin Dempsey, president and CEO of […]

Uncertainty has remained a dominant theme in the US ferrous derivatives markets over the past month. And the Trump administration's tariffs on steel and aluminum are still top of mind for market participants.