Category: Region

Steel buying lead times remain mixed as we head into the last week of 2023, according to SMU's most recent survey data.

All of the products SMU surveys notched an increase in the percentage of buyers saying mills were willing to negotiate spot pricing, with the exception of cold rolled, according to our most recent survey data.

SMU’s Current Buyers Sentiment Index inched up this week, while the future index edged down, based on our most recent survey data.

US housing starts jumped in November on lower interest rates stimulating home buying, according to the most recent data from the US Census Bureau.

Mexican steel association Canacero has responded to a Dec. 13 letter from US senators, and disputes the claim of a “surge” of Mexican steel imports.

Active rig counts fell in the US and Canada for the week ended Dec. 15, according to Baker Hughes.

New York state saw a decline in manufacturing in December, according to the latest Empire State Manufacturing Survey.

Pig iron prices rose month over month (MoM) for all major regions, driven by rising scrap prices.

A bipartisan group of US senators has written a letter requesting a clear deadline for an export monitoring agreement of Mexican steel products into the US market.

US hot-rolled coil (HRC) prices continued their upward movement this week, distinctly outpacing increases for offshore product once again. Domestic tags are now 27% more expensive than imports - the widest pricing gap in nearly two years.

Last week in Chicago, we hosted several metals companies for our bi-annual Metals Price Management Seminar (“MPMS”).

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel sheet prices, demand, inventory, imports, and what people are talking about in the market. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your […]

The International Trade Commission (ITC) made its final injury determination in a sunset review of import duties on circular welded pipe from a handful of countries.

A count of November license applications suggests steel imports were at their lowest monthly level in 33 months.

Active rotary rigs in the US and Canada are up for the second consecutive week, according to Baker Hughes.

The US presidential elections will take place on Nov. 5, 2024.

The LME Aluminum 3-month price is moving up again on the morning of Dec. 8 and was last seen trading at $2,157 per metric ton. The way the price increased first thing in the morning suggests a support may have finally been found, but resistance could hit quickly at $2,200 /metric ton. SHFE cash was […]

We have seen a wave of service center transactions announced since the beginning of the month.

The Dodge Momentum Index (DMI) slipped in November due to a general decrease in slightly weaker commercial and institutional activity, according to the latest Dodge Construction Network (DCN) data.

US Hot-rolled coil (HRC) prices keep rising on the heels of continued mill hikes, outpacing increases for offshore product. Domestic tags are now 26% more expensive than imports, the widest pricing gap since January 2022.

I want to thank the Heating, Air-conditioning & Refrigeration Distributors International (HARDI) for the opportunity to speak at their annual conference in Phoenix. I enjoyed the proceedings and participating in a panel for HARDI’s sheet metal/air handling council. I can’t recap all that we discussed in a few hundred words. But I’d like to share […]

Mining-metal group Rio Tinto has completed a transaction to purchase half of US aluminum recycling company Matalco from owner, the Giampaolo Group, for $700 million (€638 million), subject to final closing adjustments. The companies will turn Matalco into a 50:50 joint venture. The investment will expand Rio Tinto’s aluminum business in the US, where demand […]

Activity in the US manufacturing sector contracted once again in November.

CRU analysts share an update on the aluminm markets.

The active rotary rig count for the week ended Dec. 1 inched up in the US but slid in Canada, according to Baker Hughes.

The export market for ferrous scrap has been strengthening over the last month by a sizable margin.

Oct. 26 was my previous Steel Market Update contribution. The night before, Ford and the United Auto Workers (UAW) announced they had reached a tentative agreement for a new labor contract.

In its Beige Book report released on Nov. 29, the Federal Reserve noted slower economic activity since October's report.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, and what people were talking about in the market.

Sector fundamentals for US steel companies remain solid overall, according to ratings agency Fitch’s 2024 outlook report.