Category: Region

Locking out its union employees two days before Christmas, Welded Tube's behavior has been very "Grinch-like," according to the USW.

The amount of steel exiting the country continued to decline through November, falling to an 11-month low, according to the latest US Department of Commerce data. This is the third month in a row that steel exports have eased and the second-lowest monthly rate recorded in almost two years.

This may be the most consequential six months for trade policy in recent memory. The wait to see what form Trump's actions take is almost over.

US ferrous derivatives markets were largely quiet through the holiday period. Since the new year, however, we have seen a bit of a resurgence in interest as traders and sales staff return to their desks.

AGC said Trump should be “sparing” in imposing new tariffs and exclude products needed for domestic manufacturing, energy and infrastructure.

We are quickly approaching Inauguration Day. The market still has no definitive clue as to how the Trump administration will execute on its threat to apply universal tariffs to all imports. Compounding this are the threats to apply 25% duties against our USMCA partners - Canada and Mexico.

Oil and gas drilling activity declined in the US this week, while Canadian rig counts saw a rebound, according to the latest data from Baker Hughes.

Both SMU Steel Buyers' Sentiment Indices remain in positive territory, indicating that steel buyers are optimistic about the success of their businesses.

Domestic steel imports fell 14% from October to November to a one-year low of 2.07 million short tons (st), according to final US Commerce Department data. While steel trade has declined from early-2024 highs, November imports are slightly higher than volumes seen one year prior.

It feels a little like déjà vu: Trump threatens tariffs, Canada retaliates with tariffs of its own.

Buyers participating in our first market survey of 2025 reported a slight decline in mill lead times compared to our last survey in mid-December. After rising moderately in early December, lead times edged lower through this week and are now only slightly above the lows seen back in July and November. Overall, production times have remained historically short since last summer, with minimal movement since then.

Improved growth in data center planning and warehousing projects helped the Dodge Momentum Index (DMI) rebound in December.

Steel buyers say mills remain open to negotiation on sheet and plate spot prices this week, slightly more so than in mid-December, according to our most recent survey results.

Steel fabricators and distributors SPS Companies and State Steel will be merging their service center businesses under the SPS Companies family of firms.

Some world-changing events happen in an instant. Others take many twists and turns. The outcome remains unknowable at every phase. That is, until you finally arrive at the end of the roller coaster, the safety bar lifts up, and you stagger off the ride. It appears such is the case with Japan’s Nippon’s Steel Corp.’s (NSC’s) proposed $14.9-billion buy of Pittsburgh-based U.S. Steel. And the ride ain't over yet.

Steel prices didn't start the new year with a bang - but they didn't bust, either, according to SMU's first survey of 2025. On the sheet side, market participants generally predicted that prices should move higher this year on the coated trade petition and the potential for tariffs under President-elect Trump. But most buyer sources weren’t eager to load up given the uncertain timing and scope of the potential tariffs. They also cited increasing domestic capacity and modest demand.

A bleak outlook for steel demand has undermined market confidence, contributing to the drop in prices.

The Trump administration may be considering alternative tariff plans, but Trump said the report is "Fake News."

I’m not sure what to say about President Biden’s blocking Nippon Steel’s deal for U.S. Steel that hasn’t already been said. I think it’s fair to say, as U.S. Steel CEO David Burritt did, that this was ultimately all about politics and had very little to do with national security. SMU has tried to remain […]

Hot-rolled (HR) coil prices were flat in the US this week, while tags in offshore markets were mostly down.

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.