Final Thoughts
President Trump’s tariff policies have a lot more in common with a roundabout than you’d think.
Contributor: David Schollaert
David Schollaert
Read more from David Schollaert SMU scrap market survey results now available
SMU’s ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “ferrous scrap survey” results. Past scrap survey results are also available under that selection. If you need help accessing the survey results […]
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
Dodge Momentum Index reaches record high in June
The Dodge Momentum Index (DMI) increased again in June, setting a record reading. The surprise result follows three months of little to no growth, according to the latest data released by Dodge Construction Network. Both institutional and commercial projects accelerated in June, further improving the nonresidential construction market. The May DMI rose to 225.1, a […]
S232 tariffs keep US HR prices below imports from EU
Hot-rolled (HR) coil prices in the US ticked down this week but have fluctuated little over the past month. Stateside tags continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.
Algoma fires up EAF steelmaking with first arc
Algoma Steel reached a milestone in its transformation from blast furnace to electric arc furnace (EAF) steelmaking, with its Unit One EAF achieving its first steel production this week.
SMU Community Chat replay now available
The latest SMU Community Chat webinar reply featuring Thais Terzian and Frank Nikolic of CRU Group, 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 selection. If you need […]
Drilling activity down further in US, climbs in Canada
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.
Doubled S232 tariff holds US HR prices below EU
David Schollaert presents this week's analysis of hot-rolled coil prices, foreign vs. domestic.
SMU's June at a glance
A look at SMU data for the month of June.
SMU Price Ranges: Sheet and plate steady ahead of Independence Day
Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.
ISM: Manufacturing growth slowed again in June
US manufacturing activity slowed for a fourth straight month in June. That's a sharp shift after trending up for most of Q1.
Nucor maintains plate prices, opens August order book
Nucor aims to keep plate prices flat again with the opening of its August order book.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members.
SMU Community Chat replay now available
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 […]
Service centers: Mill orders down marginally in May
SMU’s Mill Order Index (MOI) declined for a third straight month in May, but only marginally.
Higher US CR prices inch closer to EU, Japanese tags
US cold-rolled (CR) coil prices continued to tick higher this week, while offshore markets were mixed.
Stacked S232 keeps US HR prices below EU
US hot-rolled coil prices crept up again this week but still trail imports from Europe.
Doubled S232 lifts EU, Japanese CR prices over US tags
US cold-rolled (CR) coil prices edged up again this week, and most offshore markets moved in the opposite direction. But the diverging price moves stateside vs. abroad did little to impact pricing trends. The bigger impact was from Section 232, which were doubled to 50% as of June 3. The higher tariffs have resulted in […]
Survey says: Market hit with another blast of tariff whiplash
If you’re feeling a sudden jerk and a case of tariff whiplash coming on, you’re not alone.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
Higher S232 keeps US HR prices at a discount to EU
Domestic hot-rolled (HR) coil prices edged up marginally again this week, while offshore prices ticked down.
SMU Community Chat replay now available
The latest SMU Community Chat webinar reply featuring Timna Tanners, managing director of equity research for Wolfe Research, 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 selection. If […]
Doubled S232 drives EU HR price over US, Asian HR still behind
Domestic hot-rolled coil prices edged up marginally this week, while offshore prices ticked down.
Drilling activity slows in the US, grows in Canada
Oil and gas drilling activity was mixed this week, according to Baker Hughes. US totals slipped for a sixth straight week, while Canada saw a slight bump in activity.
SMU scrap market survey results now available
SMU’s ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “ferrous scrap survey” results. Past flat-rolled survey results are also available under that selection. If you need help accessing the survey results, […]
Final Thoughts
With higher tariff rates on steel and aluminum set to go into effect on Wednesday, June 4, a new round of chaos across the supply chain is likely in store. Expect a significant impact on manufacturers and metal fabricators. But even before the latest round of Trump-tariff whiplash on Friday evening, there was a lot of interesting data coming out of SMU's steel-market survey.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
SMU Steel Summit 2025: These panels break it down
We’re just 88 days out from North America’s largest gathering of the flat-rolled steel industry.
US and offshore HRC prices tick lower
Domestic hot-rolled coil prices moved lower again, maintaining the downward move seen in eight of the last 10 weeks.