We can be grateful for some things. One is the regional agreement between the US, Canada, and Mexico that is currently undergoing review. A decision is expected by July 2026 on whether to extend the agreement, which is set to expire in 2036, for another 16 years (to 2052). Three days of hearings just concluded with comments of five minutes’ duration from more than 50 witnesses.
During the summer of 1989, I made a journey in search of recoverable scrap metal to a place I only studied in history books and in military training.
NEMO Industries CEO Daniel Liss has already made waves with his bold plan to bring pig iron production back to US soil. In an SMU Community Chat on Wednesday, he shifted the conversation from inspiration to execution, laying out timelines, financing strategies, and customer demand that could reshape the steel supply chain by the end of the decade.
It's important to keep in mind - maybe especially for those of us in the US - that the rest of the world can act too. And I think we're already seeing signs of that action, or at least that's been my takeaway from some of SMU's recent reporting and from Community Chat webinars for both SMU and AMU.
Major activity in the US scrap export market has occurred, mainly driven by Turkey.
Metalforming manufacturers were mixed in their outlook, anticipating business conditions could either worsen or, at best, hold in the near-term, according to PMA's November report.
Sources expect the recent spot market price hikes on domestically produced plate products to be accepted by the market.
The price gap between stateside hot band and landed offshore product has inched closer to parity, now at its lowest level since the summer.
The price hike parade that got underway in earnest in November looks set to continue in December. And it's been joined by, well, just about everybody.
All of SMU’s sheet price indices rose this week, climbing to new multi-month highs. At the same time, our plate index held steady.
A steelmaker in the Southeast has entered the market for shredded, P&S, and HMS at prices of $20/gt over November.
Economic activity across the US was largely static with some modest activity unfolding at a sluggish pace, according to the US Federal Reserve’s (The Fed) latest Beige Book report.
SMU’s Current Steel Buyers’ Sentiment Index improved this week as Future Sentiment inched up as well, according to our most recent survey data.
The price gap between stateside hot band and landed offshore product tightened further this week, as the average price for domestic hot-rolled was $10/st higher w/w.
US and Canadian rig counts both declined this week, according to the latest Baker Hughes data released on Wednesday, Nov. 26.
SMU’s latest steel buyers market survey results are now available on our website to all premium members.
You might be looking forward to some Black Friday deals. But I wouldn't expect many, at least when it comes to flat-rolled steel.
Steel mill lead times extended this week on all sheet and plate products tracked, according to responses from SMU’s latest market survey.
All five of SMU’s sheet and plate price indices increased this week for the second week in a row, with all products inching up to new multi-month highs. Prices are now up by $30-70/st compared to those seen four weeks ago.
Mills are less willing to talk price on spot orders on all the sheet products SMU tracks, but plate has veered the other way, according to our market survey this week.
The situation has altered in the Brazilian pig iron market since our last update on Nov. 13. At the time, we reported things were at a standstill for sales to US-based steelmakers.
US steel imports declined considerably in September and October, with trade falling to reduced levels not seen in nearly five years.
German Economy Minister Katherina Reiche expressed frustration with US levies on steel and aluminum products. The US contends the EU is unfairly targeting its big tech firms.
SSAB Americas aims to increase prices on all its products by at least $40 per short ton (st).
Toyota says its $912‑million investment in the US will boost production capacity for hybrids and introduce hybrid‑electric Corollas.
Recollections of better days in Ukraine.
Following four consecutive monthly declines, world crude steel output recovered 1% from September to October to an estimated 143.3 million metric tons (mt), according to the World Steel Association (worldsteel).
In the month since my last column, the tides have started to turn – and as usual it wasn’t the physical market that moved first.
Most steelmaking raw material prices remained stable over the past month. Prices are mixed in comparison to this time last year.
Domestic plate market participants anticipate strong economic growth in the first quarter of 2026, which they say is the perfect reason for spot market price hikes now.