Category: Region

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."

The Dodge Momentum Index (DMI) slid further in November as planning for data centers and warehouses continued to decline.

Transition to a new administration is always uncertain. This one is more uncertain than most.

A newly adjusted anti-dumping duty on imports of oil country tubular goods (OCTG) from Argentina is too low, according to U.S. Steel. This past week, the Department of Commerce released the preliminary results of annual AD duty order reviews on OCTG from both Argentina and Mexico. It is reviewing imports during the one-year period that […]

The US drill rig count increased by seven this week, while the Canadian count dropped by 11, according to the latest data from Baker Hughes.

The Canadian government estimates steel and aluminum imports from China will decrease by nearly 50% due to newly implemented tariffs.

SMU’s Current Steel Buyers’ Sentiment Index slipped this week, while Future Sentiment remained flat, according to our most recent survey data.

Highlights from the aluminum industry this week

The president-elect has wasted no time in using the threat of tariffs to reopen negotiations and, ideally, score other political wins along the way.

Canada has launched its own investigation into the dumping of corrosion-resistant steel sheet. Unlike the sprawling coated case underway in the US, this one will look at coated imports from just one country and company.

Production times are marginally higher than those seen in recent weeks, now closer to levels witnessed throughout October.

Hot-rolled (HR) coil prices ticked back up in the US this week, while tags in offshore markets moved in varying directions. Thus, the price premium between stateside hot band and imports on a landed basis widened slightly. After leveling with import prices in late August, stateside tags have been mostly stable and ahead of imports […]

Still, many businesses noted increased sensitivity to prices and quality among customers.

A high percentage of the steel buyers we polled this week continue to respond that mills are open to price negotiation for new spot orders. Rates have been high for the majority of the year.

A trustee will lead AHMSA through the liquidation stage of its bankruptcy.

“Trump took to Twitter.” That was a familiar story lead in Trump 1.0. Now it’s “Trump took to Truth Social (or X)." The latest example: President-elect Donald Trump on Monday evening said he was “totally against” U.S. Steel being acquired by Nippon Steel in a post on Truth Social.

Steel sheet prices remain at or near multi-month lows, while plate prices continue edging lower from their mid-2022 peak.

“I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan,” Trump said in a post on Truth Social on Monday.

“We are under constant threat from nonmarket economies who evade our trade laws," SMA said.

US manufacturing activity contracted again in November for the eighth consecutive month.

The Chicago Business Barometer continues to indicate deteriorating business conditions in November, easing to a six-month low, according to Market News International (MNI) and the Institute for Supply Management (ISM).

American and Canadian steel trade groups, as well as the government of Mexico, have responded to President-elect Trump's threat of imposing 25% tariffs on all US imports from Canada and Mexico and a 10% tariff on imports from China.

And so it begins (again). Not to be outdone by Thanksgiving, President-elect Donald Trump has threatened to impose tariffs of 25% on all imports from Canada and Mexico. He also threatened to hit all imports from China with tariffs of 10% - an amount that would come on top of a boatload of pre-existing duties and tariffs.

SMU's price indices saw minor fluctuations on sheet products this week, while our plate and Galvalume indices held steady.