US rig count slips as Canadian count ticks up
The US rig count edged down this week while the Canadian count inched up, according to the latest Baker Hughes data released on Friday, Dec. 12.
Contributor: Ethan Bernard
Ethan Bernard
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HRC vs. prime scrap spread continues to widen in December
The price spread between hot-rolled coil and prime scrap has widened for the third consecutive month in December, based on SMU’s most recent pricing data.
Final Thoughts
Let's take a look inside the last SMU Scrap Survey of 2025.
US scrap tags increase in December
US ferrous scrap prices have picked up in December, sources told SMU.
SMU Scrap Survey: Sentiment Indices rise in December
SMU’s Current and Future Sentiment Indices for scrap increased this month, according to the latest data from our ferrous scrap survey.
Worthington Steel in negotiations for possible takeover of Germany's Klöckner
Worthington Steel is in talks to possibly take over German-based service center chain Klöckner & Co. SE, both companies have confirmed.
US, Canadian rig counts increase
US and Canadian rig counts both increased this week, according to the latest Baker Hughes data released on Friday, Dec. 5.
AISI's Dempsey gives proposals to USTR ahead of USMCA review
The American Iron and Steel Institute’s (AISI's) Kevin Dempsey gave a series of policy proposals ahead of the review of the USMCA trade agreement next year.
October US mill shipments slip but still higher than 2024
Domestic steel shipments dropped in October vs. September, but increased year over year.
Nippon zeroes in on site for US steel plant: Report
Nippon Steel hopes to pare down a list of sites by next summer and make a final decision by the end of 2026 for a new U.S. Steel plant in the United States.
Nucor taps Laxton as president and COO, Sumoski to retire
Nucor has promoted Stephen D. Laxton, currently CFO and EVP, to president and COO, effective Jan. 1.
Algoma lays off workers, slates BF closure amid US tariff woes
Canada’s Algoma Steel announced ~1,000 layoffs on Monday as a result of disruptions from the US tariff situation.
Update: AM Dofasco, Stelco up prices by CA$100/ton
ArcelorMittal Dofasco and Stelco are aiming to increase spot market base prices by a minimum of CA$100 per short ton (US$72/st), effective immediately.
Canadian PM releases measures to protect steel, including derivatives tariff
Canadian Prime Minister Mark Carney announced new measures on Wednesday to strengthen the country’s domestic steel industry, which include a tariff on some downstream steel-intensive goods.
Algoma's Garcia named 'CEO of the Year' by The Globe and Mail
Algoma Steel CEO Michael Garcia has been recognized by Canada’s The Globe and Mail newspaper as “CEO of the Year: Corporate Citizen.”
SMU Survey: Mills firmer on sheet prices, more negotiable on plate
Mills are less willing to talk price on spot orders on all the sheet products SMU tracks, but plate has veered the other way, according to our market survey this week.
Foreign steelmakers eye restart of Republic Steel's Lorain ops
Republic Steel’s shuttered facilities in Lorain, Ohio, could find new life as international steelmakers, citing US tariffs, explore restarting operations there.
US and Canadian rig counts log increases
US and Canadian rig counts both improved this week, according to the latest Baker Hughes data.
Barry Zekelman says it's a 'fantastic' time for steel in the US
SMU sits down with Barry Zekelman to talk North American trade and the state of the US and Canadian steel industries.
Triple-S buys Texas service center Industrial Material Corp.
Triple-S Steel Holdings has acquired Galveston service center Industrial Material Corp.
USS contributes over $2B to Arkansas economy, report says
U.S. Steel’s Arkansas facilities provided more than $2 billion to local and state economies in fiscal year 2024, according to a newly released economic impact report.
Tenaris unit buys SA Recycling yard in Pennsylvania
A Tenaris subsidiary, Steel Recycling Services, has acquired the Beaver Falls, Pa., scrap processing yard of SA Recycling.
Final Thoughts
Rising prices and stable demand is not a bad way to slide into the ending of 2025.
SMU Survey: Current Sentiment falls, Future Sentiment ticks up
SMU’s Current Steel Buyers’ Sentiment Index slipped this week while Future Sentiment inched up, according to our most recent survey data.
Final Thoughts
Scrap keeps on trucking, shutdown or not.
NLMK USA raising HR, CR $50/ton, coated at $150 above HR base
NLMK USA is aiming to increase base prices on all products, effective immediately.
HRC vs. prime spread widens again in November
The price spread between HRC and prime scrap has widened for a second month, based on SMU’s most recent pricing data.
ArcelorMittal exec upbeat on N. America
ArcelorMittal sees green shoots in North America despite tepid demand.
November scrap tags settle sideways, sources say
November ferrous scrap prices landed even with October as the market settled, sources told SMU.
SMU Scrap Survey: Sentiment Indices decline
SMU’s Current and Future Sentiment Indices for scrap decreased this month, based on the latest data from our ferrous scrap survey.