Category: SMU

Anti-dumping and countervailing duties on imports of non-grain-oriented electrical steel (NGO or NOES) will stay on the books for another five years.

Last week, Steel Market Update and CRU hosted our inaugural VIP Briefing in Chicago ahead of the Scouting America Metals Industry Dinner.

Nucor executives said US steel demand remains stable, with pockets of strength in data centers, energy, border fence work, and infrastructure.

The US domestic scrap market for May is forming a lightly bullish consensus opinion among the seller community.

Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil to $1,065 per short ton (st), a $10/st increase from last week.

Imports of various iron and steelmaking raw materials are eligible. These include pig iron, direct-reduced iron (DRI)/hot-briquetted iron (HBI), iron ore pellets, and ferroalloys, to name a few.

USMCA provides strong support for North American competitiveness. US manufacturing has lost considerable capabilities over the last few decades. “Cheating” by other countries is not the only reason. Nor is it even the most important reason

World crude steel production for the 69 countries reporting to the World Steel Association (worldsteel) totaled an estimated 159.9 million metric tons in March. Production jumped 12.8% from a shorter February, but was down 4.0% from March 2025, according to newly released data.

Baker Hughes' latest data shows the US rig count inching up by one while the Canadian count held steady in the week ended April 24.

The price gap between US hot-rolled coil (HR) and landed offshore product tightened this week. The dynamic continues as both stateside and offshore prices have largely trended higher.

The countdown continues. 123. That’s how many days before Steel Summit 2026 kicks off on Aug. 24 in Atlanta. And it looks like there will be no shortage of things to talk about.

As the steel market works through the first month of Q2 and the spring outage season, the US HRC futures curve continues to reflect a market adjusting to tightening conditions. The recalibration of near-term expectations sets the stage for how the curve has developed in recent weeks.

The ferrous scrap export market from the US has been poised to rise further amid reluctance of their Turkish customers to increase prices beyond the recent bullish prices they paid earlier this month.

In a Final Thoughts las week, I asked “Got Steel?” And if you’re looking for spot tons in June, the answer still isn’t obvious.

Each of SMU’s sheet and plate price indices climbed higher this week, with most products rising further to new multi-year highs

North American steel buyers are signaling stronger interest in foreign material amid a tight market and rising global substrate costs, which are complicating purchasing decisions.

Domestic mill production ticked up to a new multi-year high last week, according to recently published American Iron and Steel Institute (AISI) figures.

Pig iron availability in the US is in short supply, various sources reported to SMU. However, based upon figures for Q1'26, pig iron shipments from Ukraine and Brazil are at high levels.

Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil to $1,055 per short ton (st), a $10/st bump from last week.

The flat-rolled steel market looks poised for continued gains despite widespread concerns about higher freight costs stemming from the Iran War, according to SMU's latest steel market survey.

After another historic turnout in 2025, and on the heels of our best Tampa Steel Conference in February, the buzz around SMU’s Steel Summit 2026 is picking up.

Core to the negotiations will be the need for a fundamental rebalancing of the relationship between the United States, Mexico, and Canada - especially when it comes to the steel and autos supply chain.

Apparent steel supply declined 3% from January to February to the third-lowest rate recorded in the past two years, just 5% above the near-five-year low set last November.

The Commerce Department has determined that allowing anti-dumping and countervailing duties on non-oriented electrical steel (NOES) imports from a handful of countries to expire would result in continued dumping and subsidization at significant levels.

The US and Canadian oil and gas rig counts inched lower this past week, according to the latest Baker Hughes data.

SMU’s Steel Buyers’ Sentiment Indices indicate that steel buyers remain highly optimistic about their businesses’ chances for current and future success.

MU’s latest steel buyers market survey results are now available on our website to all premium members.

Service centers held only 2.24 months of supply (49.3 days of supply) of sheet products in March, according to our latest figures. If you check our archives, you’ll see that's the lowest sheet inventories we’ve seen since June 2021 – which was hardly a bad year for steel.

Steel mill lead times remained elevated this week, according to buyers responding to our latest market survey.

There are several factors buttressing the ferrous scrap market against it seasonal fall in the spring months. We all know about the Iran War and the rise in fuel costs. Other factors include strong steelmaking activity, rising steel prices, lighter inbound scrap flows, and firm export markets.