Category: Region

The Dodge Momentum Index (DMI) edged up in September, driven by a slight increase in planning despite tighter lending standards, according to the latest Dodge Construction Network (DCN) data.

Esmark Steel Group has established Esmark Steel International, a business focused on supplying the Mexican industrial steel market.

The LME aluminum three-month price was broadly unchanged on Friday morning, Oct. 6, and was last seen trading at $2,243 per ton. Due to the Mid-Autumn Festival and National Day celebrations, the SHFE is closed for holidays from Sept. 29 to Oct. 6. According to a report from Bloomberg, leaders from the EU and the […]

Worthington Industries Inc. announced on Oct. 5 the expansion of its Tempel Steel facility in Apodaca, Mexico.

The total active oil and gas drilling rigs in both the US and Canada dropped this week, according to the weekly report put out by oilfield services company Baker Hughes.

US hot-rolled coil (HRC) and offshore product are nearing parity again after domestic prices moved higher this week and imports declined again.

Did the price increase announced by Cleveland-Cliffs last week stick? Yes, at least partially.

US manufacturing activity improved in September, nearing a recovery, but remained in contraction territory, according to the Institute for Supply Management (ISM).

Will the sheet price hike announced by Cleveland-Cliffs (and quietly followed by at least some mills) stick?

ArcelorMittal said it expects to produce less steel than previously forecast in Brazil. Gerdau has hinted at potential layoffs as imports surge. The Brazil Steel Institute is asking the government to raise import levies to 25% from the existing 9.6%. Meanwhile, Mexico has applied levies to some steel imports.

The number of active oil and gas drilling rigs in the US dropped this week while Canada’s count increased by one, said oilfield services company Baker Hughes in its weekly report.

SMU's Current and Future Steel Buyers Sentiment Indices both increased this week despite the United Auto Workers (UAW) union strike expansion, based on our most recent survey data.

On Sept. 15, the UAW went on strike at three plants, one of each of the Big 3. On Sept. 22, the UAW expanded its strike to 38 more GM and Stellantis plants. Since Sept. 15, the HRC futures curve has rallied $60-75 in the November – February futures months. The reason why there has been this breakneck rally is because, uh, well, um. I have no idea. I am as shocked by it as perhaps you are, frankly.

US hot-rolled coil (HRC) prices were down again vs. offshore hot band this week. Domestic HRC lost more ground relative to imported product with US tags sinking at a faster rate than those overseas.

Ford of Canada union workers represented by Unifor ratified a new, three-year labor agreement on Sunday.

Last week, former Treasury Secretary Larry Summers gave a major speech challenging the views of anti-trade leaders, such as (but not limited to) Bob Lighthizer.

The number of active oil and gas drilling rigs in the US dropped this week, while Canada’s count remains unchanged, according to the most recent data from oilfield services company Baker Hughes.

Canadian steelmaker Stelco Holdings Inc. is now in the mix to purchase U.S. Steel, according to an article in Bloomberg on Thursday, which cited people familiar with the matter.

A big "thank you" to Wolfe Research and Timna Tanners for organizing a lunch in today in Chicago with a group of steel industry participants and investors.

After a quiet couple of weeks, the futures market has recently come to life over the last three days, and is starting to show some bullish signals.

Mexican steelmaker Grupo Deacero will invest $1 billion over the next three years as it plans to expand its steel production by 1.2 million tons per year, according to a local report.

Deputy United States Trade Representative (USTR) Jayme White met on Wednesday with Mexico’s Under Secretary of Economy for Foreign Trade Alejandro Encinas, and discussed issues regarding the “surge” into the US of Mexican steel and aluminum imports.

August’s Architecture Billings Index (ABI) reading from the American Institute of Architects (AIA) and Deltek showed a moderate decrease.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, sheet prices abroad, inventory, the UAW strike, and what people are talking about in the market

North American auto assemblies saw its best total year to date in August, and its best mark in nearly five years, driven by a 32.8% jump in total assemblies vs. July’s output.

US light-vehicle (LV) sales rose to an unadjusted 1.33 million units in August, up 12.8% vs. year-ago levels, while domestic LV sales fell 4.5% month-on-month.

Ford's Canadian subsidiary and auto workers represented by Unifor - roughly the Canadian equivalent of the UAW - have reached a new, tentative labor agreement.

Trade policy moves create great ironies sometimes. I often write about these ironies when the US acts against the interests of the country as a whole by protecting certain industries from international competition. But the US is not alone, especially in recent years as the World Trade Organization and the international geopolitical order have been […]

The number of active oil and gas drilling rigs in the US and Canada increased this week, according to the most recent data from oilfield services company Baker Hughes.

SMU Managing Editor Michael Cowden shares his Final Thoughts for the week on what happens to steel if the United Auto Workers (UAW) launch a series of “stand up” strikes at midnight tonight against Ford, General Motors, and Stellantis?