Category: SMU

SMU looks back at stories from Decembers past, one, five, 10, and 100 years ago.

Steel mill production times have seen very little change since September, according to buyers participating in our latest market survey.

Steel buyers of sheet and plate products say mills are still willing to bend on spot pricing this week, though not quite as much as they were two weeks prior, according to our most recent survey data.

Lawrence D. ‘Larry’ Romboski, Jr.'s career in steel spanned 35 years, most recently serving as VP of sales for NLMK USA.

“New commodity-specific tariffs, mainly on steel and aluminum products, could widen price differentials and divert trade flows,” the credit agency forewarned.

It's that time of year again. You know, that time when people wonder if those things are drones in New Jersey or if the aliens are ready to come onto the stage just in time for Inauguration Day. What will that do for steel price volatility? In any case, the SMU team finds itself in Pittsburgh this week.

We have seen very little change in sheet and plate prices across the past month.

The prices being paid by US-based buyers has continued to decline as ferrous raw material demand across the globe remains weak.

Shipments of heating and cooling equipment were stable from September to October, AHRI said.

The steelmaker has kept its weekly consumer spot price for hot-rolled steel sheet unchanged since Nov. 12.

Domestic production remains significantly low compared to levels recorded earlier in the year.

The Community Chat last Wednesday with ITR economist Taylor St. Germain is worth listening to if you couldn’t tune in live. You can find the replay and Taylor’s slide deck here. You can also find SMU reporter Stephanie Ritenbaugh’s writeup of the webinar here. Taylor is Alan Beaulieu’s protégé at ITR. Many of you know Alan from his talks at SMU Steel Summit. I found Taylor’s analysis just as insightful as Alan’s.

Trends in energy prices and active rig counts are leading demand indicators for oil country tubular goods (OCTG), line pipe and other steel products

Cleveland-Cliffs plans to increase prices for hot-rolled (HR) coil to $800 per short ton (st). Cliffs said the increase announcement coincides with the opening of its February order book for both contract and spot tons of HR.

We are less than two months away from the 36th annual Tampa Steel Conference! We hope you will join us there!

The price spread between hot-rolled coil (HRC) and prime scrap narrowed slightly in December, according to SMU’s most recent pricing data.

Cracks have formed in what has been presented as the Biden administration’s united front against Nippon Steel’s play for U.S. Steel. A report from the Financial Times said parts of the administration are at odds on the deal.

Referred to as ‘apparent steel supply’, we calculate this volume by combining domestic steel mill shipments with finished US steel imports and deducting total US steel exports.

The volume of steel exported from the country declined in October for the second-consecutive month, following a one-year high in August.

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

It’s been another week of torrid speculation when it comes Trump and tariffs. And another week of mostly flat price movement when it comes to steel sheet and plate. As far as Trump and tariffs go, I think I might have lost track. We've potentially got 10% blanket tariffs on imports from China, 25% tariffs on imports from Canada and Mexico, 100% tariffs on the BRICs, and 200% on Caterpillar. Canada might be the 51st state. Mexico could be the 52nd state. But all can be resolved if you stop by Mar-a-Lago and kiss the ring?

Steel prices have remained relatively stable in recent weeks, though they have generally trended downward since October.

With just over a month to go until Inauguration Day on Jan. 20, President-elect Donald Trump has already signaled some of his policy choices that will affect the steel industry.

Monthly imports have remained within a relatively narrow range since June, significantly lower than volumes seen earlier this year, but stronger than late-2023 levels.

The Dodge Momentum Index (DMI) slid further in November as planning for data centers and warehouses continued to decline.

Nucor’s weekly spot price for hot-rolled (HR) coil will remain at $750 per short ton (st) for a fifth week.

The US drill rig count increased by seven this week, while the Canadian count dropped by 11, according to the latest data from Baker Hughes.

SMU’s Current Steel Buyers’ Sentiment Index slipped this week, while Future Sentiment remained flat, according to our most recent survey data.

Never have I been more certain in declaring that those in the steel industry are less certain now than they thought they’d be at this point before the election.

Production times are marginally higher than those seen in recent weeks, now closer to levels witnessed throughout October.