Category: SMU

It will be a shorter week as the United States celebrates Independence Day on Friday. But we won’t leave you high and dry.

US mills shipped slightly less steel in May than in April, according to the latest figures from the American Iron and Steel Institute (AISI).

The United Steelworkers (USW) labor union celebrated recent news of the signed agreement between Atlas Holdings and Evraz NA in which the Connecticut-based private equity company said it plans to acquire North America’s Evraz facilities.

The rig count declined for the 10th consecutive week in the US, while Canadian count rose for the fifth straight week, according to Baker Hughes.

David Schollaert presents this week's analysis of hot-rolled coil prices, foreign vs. domestic.

Steel buyers this week are lamenting weak demand, cautious buying, and So. Much. Uncertainty. I'm no doctor, but I suggest a dual diagnosis of extreme tariff fatigue and early-onset summer doldrums.

Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.

A look at SMU data for the month of June.

What's going to be the next big thing in steel?

Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.

The Steel Manufacturers Association and the American Iron and Steel Institute applauded the tax provisions included in the Senate's tax and budget reconciliation bill.

The owner of Liberty Steel and his family were among the six victims of a plane crash in Ohio on Sunday, according to local media reports.

Will more DRI investment come to the US?

Nucor aims to keep plate prices flat again with the opening of its August order book.

Nucor has raised its weekly spot price on hot-rolled coil by $10 per short ton after holding it steady last week.

Based on the amount of ‘out of office’ replies we’ve been receiving and the results of this week’s steel buyers’ survey, those pesky summer doldrums have arrived for the steel industry.

CRU analysts Thais Terzian and Frank Nikolic will be the featured guests on the next SMU Community Chat on Wednesday, July 9, at 11 am ET. The live webinar is free for anyone to attend. A recording will be available to SMU subscribers.

A roundup of trade news, what's up with Brazilian pig iron, SMU's latest survey results and more to keep you up to date.

Oil and gas drilling activity declined for the ninth-consecutive week in the US, while Canadian counts rose for the fourth straight week, according to Baker Hughes.

Both of SMU’s Steel Buyers’ Sentiment Indices edged higher this week. Current Sentiment rebounded from a near five-year low, while Future Sentiment rose to a two-month high

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

Maybe some of this uncertainty will get ironed out ahead of Liberation Day tariffs resetting higher rates on July 9. But if I had to place a wager, it would be on more drama and last-minute brinksmanship - whether it comes to the Liberation Day tariffs or the various Section 232s that are in the works.

Following the uptick seen two weeks ago, lead times eased this week for all four sheet products tracked by SMU, while plate lead times held steady, according to this week’s market survey.

“Contractors say that they're still busy, but their order books have gotten a lot softer or a lot more uncertain,” said Ken Simonson, chief economist for The Associated General Contractors of America.

Steel market participants contend that buyers will remain in “wait-and-see" mode until some market stability is restored. 

The majority of steel buyers responding to our latest market survey say domestic mills are more willing to talk price on sheet and plate products than they were earlier this month. Sheet negotiation rates rebounded across the board compared to early June, while our plate negotiation rate hit a full 100%.

CRU analysts Thais Terzian and Frank Nikolic will be the featured guests on the next SMU Community Chat on Wednesday, July 9, at 11 am ET.

The latest SMU Community Chat webinar reply featuring Ken Simonson, chief economist for The Association General Contractors of America (AGC), is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that […]

As of June 24, the premium galvanized coil carries over hot-rolled coil is just $5 per short ton (st) above the lowest level recorded in almost two years.

What should you keep your eye on, considering the latest geopolitical events?