Category: SMU

Global raw steel production declined 3.7% from January to an estimated 141.8 million metric tons (mt) in February, according worldsteel data. Output was one of the lowest totals over the past three years.

The ongoing Middle East conflict, the resurgence of broad-based tariffs under Section 122 of the Trade Act of 1974, and the looming US midterm elections are not isolated developments. Rather, they form a kind of feedback loop in which each issue influences, and is influenced by, the others.

Since the Supreme Court ruled the IEEPA (reciprocal) tariffs imposed by the Trump administration were illegal, the subject of refunds has been circulating. A lower court has ruled refunds are due to importers affected by these tariffs, which amounted to an estimated $166 billion.

Plate market sources say the week has been quiet, but that overall, business remains consistent.

Steel buyers remain highly optimistic for their businesses’ chances for current and future success, according to SMU’s latest Steel Buyers’ Sentiment Indices.

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

When nations eye their trade policy these days, are they only seeing tariffs? It might seem that way, especially after reading a presidential executive order or five over the last year. But is the condition spreading?

As spot prices for hot- and cold-rolled coils edge higher, mill capacity utilization rates hover below 80%, raising concern among some market participants.  

Steel mill lead times extended to multi-year highs on both sheet and plate products this week.

Most steel buyers report that domestic mills are unwilling to negotiate price on new sheet and plate spot orders.

Freight rates have remained high in the US and Northern Europe, and there has been little or no activity in the Mediterranean region since our last export update on March 10.

Apparent steel supply increased from December to January, but remains on the low side compared to recent years.

US service centers’ flat-rolled steel supply declined for a second consecutive month in February, with shipping days of supply slipping to 52.2 on an adjusted basis, according to SMU data.

Prices for both sheet and plate products climbed higher this week, with some rising to multi-year highs, according to SMU's latest market canvass.

While decarbonization has fallen out of the headlines a bit, that doesn't mean it's gone away. Tariffs, geopolitical instability, outright war... there has been a lot to write about in the last year.

Heating and cooling equipment shipments declined in January to the second-lowest rate recorded over the past nine years.

The weather is still influencing the recycled metals market as we head into spring, sources say.

US steel exports jumped 33% in January but remain historically low, according to recently released US Department of Commerce data.

The US steel market is already characterized by high prices and tight supplies, and I wouldn't be surprised if prices move higher and supplies get even tighter – at least in the short term.

SA Recycling's CEO George Adams couldn't be more upbeat about American industry.

Steel imports remained close to multi-year lows in January and February, according to US Commerce Department data released this week.

This week sources said spot prices on hot-rolled coils increased modestly. 

The latest tally of active oil and gas rigs increased in the US this week but declined in Canada, according to figures recently released from Baker Hughes.

It's been just two weeks since the US and Israel launched a joint attack on Iran. And markets are still in flux as we wade through conflicting messages from the administration on what the goals are when it could be over.

The price gap between US hot-rolled coil (HR) and landed offshore product widened this week, as stateside tags were little changed.

Domestic plate market participants expressed confidence in the overall improvement of market conditions this week.  

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.

The pig iron market in the Brazil-to-US trade flow is showing strength as supply concerns and increased logistical costs impact recent sales negotiations.

The spread between domestic hot-rolled coil and prime scrap prices widened in March, marking a six-month trend.

Sometimes it feels like current events are like a fireworks show that got set off all at once by mistake. In all the commotion, it's hard to know where to look... or where to run.