Category: Region

Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on. 

Drilling activity increased in both the US and Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.

Robert Kopf has been on U.S. Steel's acquiring side and is now part of the steelmaker's partnership with Japan’s Nippon Steel, and he sees bright days ahead for the steelmaker.

SMU’s Steel Buyers’ Sentiment Indices ticked higher this week, according to the latest data from our flat-rolled steel survey.

Cold-rolled (CR) coil prices ticked lower in the US this week, while prices in offshore markets diverged and ticked higher.

Repealing any reciprocal tariffs placed by President Donald Trump on US imports of direct reduced iron (DRI), iron ore, hot-briquetted iron (HBI), and pig iron would have only a nominal impact on the US steel market, market participants said.  

The Brazilian-US pig iron market has remained quiet, market sources told SMU.

he US longs market remained stable this month despite ongoing challenges from tariff-impacted imports, even as end-use demand was relatively unchanged and scrap prices held flat in August.

Let me begin by extending sincere congratulations to the EGA/Spectro Alloys team on achieving their first metal casting at the Rosemount (MN) secondary billet casthouse.

Sheet and plate lead times held steady yet again this week, according to steel buyers responding to our latest market survey, a trend in place since May.

The majority of steel buyers responding to this week’s market survey continue to report that mills are open to negotiating spot prices on sheet and plate products.

Domestic hot-rolled (HR) coil prices were flat this week for a third straight week. Offshore prices all moved higher w/w, widening the margin between stateside and foreign product.

Private equity firm FalconPoint Partners has acquired SMS, an industrial service provider.

Could an upcoming BRICS meeting spell trouble for President Trump's trade policy?

SMU’s hot-rolled (HR) coil price held steady this week while prices for other sheet and plate products declined.

Ternium CEO Máximo Vedoya predicts that China is going to reduce its steel overcapacity.  

The export market is looking for direction based upon the latest scrap purchases from Northern Europe by Turkish steelmakers. The sentiment was looking bearish, but sellers may see it differently.

Oil and gas drilling activity waned in the US and Canada this past week. Ticking own for the second straight week in both regions.

Nucor’s Dan Needham views the steelmaker’s flexibility and diversification as key to pivoting when economic conditions require.

Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.

Thais Terzian, principal analyst at CRU, gave a presentation of Ore-Based Metallics(OBM), namely pig iron and direct-reduced iron (DRI), and how important they are to the global steel industry.

Another record-breaking SMU Steel Summit is in the books. Thanks to all of you – attendees, speakers, sponsors, and exhibitors – for making it possible it in what has been an uncertain year for steel.

Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.  

Domestic hot-rolled (HR) coil prices were flat this week, while offshore prices varied week over week (w/w). The price margin between stateside and foreign product was little changed as a result.

Most steelmaking raw material prices we track saw little change across the month of August. Iron ore, pig iron, shredded scrap, busheling scrap, zinc, and aluminum prices all held relatively steady,

Barry Zekelman has a unique vantage point from which to view today’s trade landscape. A Canadian national who owns operations in both the US and Canada, he has also had dialogue with both Canadian and American administrations.

Karla Lewis, president and CEO of Reliance Inc., told attendees of SMU’s Steel Summit 2025 that North America’s largest service center company is eyeing strategic opportunities in Mexico. 

Steel prices, end-use demand, inventory levels, tariffs, imports, and evolving market events... what is the steel industry talking about this week?

Tariff policy dominated the discussion of the SMU Steel Summit trade panel on Tuesday afternoon. The message was clear: uncertainty is rattling the steel supply chain.

Steel prices remained largely unchanged this week, staying at or near lows last seen in February. All five sheet and plate products tracked by SMU moved by no more than $5 per short ton (st) from the previous week.