Category: SMU

Has anyone seen a creature called the “spot ton” in the wild? I ask because they used to be a common sight. And now I hear they’re endangered.

Fresh off the closing of Worthington Steel’s acquisition of Kloeckner & Co., Worthington President and CEO Geoff Gilmore sat down with SMU to reflect on the transaction and outline the path forward.

All five of SMU’s price indices increased this week to new multi-year highs. Prices have increased by 20-25% since the beginning of the year.

The bulk deep-sea export market in the Atlantic Basin has not shown much movement lately. Buyers in Turkey have limited their activity in an attempt to bring prices down in both the US and Northern Europe. However, this does not seem to be working to a significant extent.

Two countries have ramped up slab exports to the US in the wake of declining tonnages from other major suppliers, despite overall slab imports falling by nearly a third from last year.

The Dodge Momentum Index (DMI) grew in May, up from a downwardly revised April reading. Gains were again driven by data centers, though healthcare, retail, and office grew vs. April.

Longtime steel veteran Robert Simon is excited about the transformation taking place at JSW Steel USA. And he has a rosy outlook for the rest of the year.

Most companies making steel are making a lot money. And they will continue to as current high prices flow into contracts in Q3. I don’t want to kill the vibe. (No one likes that guy.) But let’s put on your risk-manager cap for a second and imagine what might keep everything from moving up and to the right indefinitely.

A Mexican court has approved the joint auction of AHMSA and its MINOSA mining assets for $1.33 billion, paving the way for a single buyer to take control of both businesses.

Atlas Tube, a Zekelman company, said on Friday it has agreed to form a joint venture with Maruichi USA.

The Association of Cold Rolled Specialty Steel (ACRSS) officially responds to the formal investigation Mexico opened into cold-rolled steel imports from the US

SMU’s Current Sentiment Index for scrap slipped in June, but Future Sentiment rose, according to the latest data from our ferrous scrap survey.

We are happy to share that the SMU Price Estimator Tool is now a little easier to navigate.

SMU’s June ferrous scrap market survey results are now available on our website to all premium members.

We provide a sneak peek at this month's SMU Scrap Survey, with insights on tariffs, pricing, and demand.

The price gap between US hot-rolled coil (HR) and landed offshore product continues to narrow toward parity.

The US domestic ferrous scrap market started to form on Thursday.

Participants in the plate market doubt prices, lead times, and demand forces will cool down any time soon.

After falling to a multi-year low in March, the premium galvanized coil commands over hot-rolled (HR) coil has widened in recent months.

The forced-labor and Brazil 301 actions are aimed more at finished goods supply chains, not raw metals.

The official beginning of the USMCA review is less than a month away. But negotiations have already started, and steel tariffs could hang in the balance.  

SMU’s sheet price indices continued to climb this week, while plate held steady, all at multi-year highs.

Current scrap market sentiment is again divided as we enter the summer month of June.

We’re less than 90 days out from North America’s largest gathering of the flat-rolled steel industry!

President Donald Trump issued a June 1 proclamation modifying Section 232 tariffs on steel, aluminum, and copper. He pointed to new Commerce Department recommendations and “recent circumstances” affecting US users of industrial and agricultural equipment.

US steel buyers report firmer domestic demand, but long lead times, rising freight costs, and geopolitical uncertainty continue to cause caution on imports.

Stronger for longer sentiment remains in the house when it comes to flat-rolled steel prices, according to SMU’s latest steel market survey.

If an industry suffers from high labor and energy costs, inefficient facilities, or lower productivity, tariffs do not solve those problems. They only mask them, transferring costs from inefficient producers to consumers.

Participants in the hot-rolled coil spot market revealed that growing discomfort with current market dynamics hasn't deterred them from conducting spot transactions.

Steel imports could become even more prohibitive, facing even higher tariffs, pending the outcome of the Trump administration’s Section 301 investigation.