Category: US

Nucor is entering the second quarter "with real momentum," according to its chief executive, as the company reported soaring first-quarter sales and profits.

The US Department of Commerce has released new procedures allowing certain steel and aluminum producers in Canada and Mexico to qualify for reduced Section 232 tariffs – but only if they commit to building new primary production capacity inside the United States.

Recent conversations with plate market participants across the US revealed a wide range of experiences contingent on a variety of factors.  

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.

Sheet market participants reported steady to elevated demand over the past week. But while spot prices continued to edge up, some sources said lead times were becoming more closely aligned to industry norms.

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.

US Trade Representative Jamieson Greer said rules of origin will be a major focus of upcoming USMCA review talks.

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.

France’s Air Liquide is investing more than $350 million to expand industrial gas production and infrastructure in support of the proposed Hyundai-POSCO EAF mill in Louisiana.

Over the past few years, the slab market has changed significantly – Iran filled the position previously occupied by Ukraine before the war, Brazilian merchant slab supply fell, and the introduction of CBAM drew more interest into slab imports to the EU. 

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.

AZZ reported steady demand across its Metal Coatings network, as infrastructure, power, and data center projects continued to drive high galvanizing volumes.

Marubeni-Itochu Steel Americas Inc. (MISA) plans to build a $37 million flat-rolled steel processing plant in Osceola, Ark., adjacent to Big River Steel.

US Trade Representative (USTR) Jamieson Greer said Mexico should not expect the upcoming USMCA review to result in the removal of US steel and aluminum tariffs, according to media reports.

AZZ Inc. closed fiscal 2026 with record sales and sharply higher profitability, driven by strong demand for hot-dip galvanizing and steady execution across its Metal Coatings network. Its Precoat Metals segment, however, continued to face weaker volumes in construction-related markets.

Reliance Inc.’s earnings jumped in the first quarter on strong pricing and demand.

According to the latest findings from SMU’s survey, more respondents answered that President Trump’s tariff policies have been helpful to their businesses than in the prior survey. 

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

Steel Dynamics Inc’s chief executive is bullish on M&A opportunities despite the rejection of its joint bid for Australia’s BlueScope Steel.

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.

Steel Dynamics Inc.’s first-quarter 2026 earnings soared on record steel shipments and a jump in steel prices.

Cleveland-Cliffs Inc. executives on Monday detailed a series of operational moves aimed at improving efficiency, lowering costs, and tightening the company’s production footprint.

Revelar Capital's portfolio firm, Steele Solutions, plans to accelerate the pace of operational growth at newly acquired Maysteel Industries.

Cleveland-Cliffs Inc. reported improving supply-demand fundamentals in the first quarter and expects stronger conditions through the rest of 2026.

Varsteel Ltd said acquiring Pacifica Steel’s structural steel division supports its geographic expansion strategy. 

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.

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.