Final Thoughts
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Contributor: Ethan Bernard
Ethan Bernard
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Final Thoughts
We're getting ready to initiate the 10-day countdown until Steel Summit 2025 in Atlanta. Liftoff is on Aug. 25, and the conference goes through Aug. 27. With the speed at which things have moved this year, it will be great to take a breath and reflect on what's happened so far.
HRC vs. busheling spread narrows in August
The price spread between prime scrap and hot-rolled coil (HRC) narrowed in August, according to SMU’s most recent pricing data.
Welspun Tubular makes $150M investment in Arkansas line pipe mill
Line pipe manufacturer Welspun Tubular LLC has announced a $150-million expansion project at its site in Little Rock, Ark.
US scrap prices land flat in August
The scrap market traded sideways again in August with little change expected in September, according to sources.
Final Thoughts
What are our scrap survey participants saying about the market?
Friedman Industries' profits jump in its fiscal Q1
Friedman Industries’ fiscal first-quarter earnings nearly doubled from a year ago.
SMU Scrap Survey: Sentiment indices slip in August
Current and future scrap sentiment indices declined this month, according to SMU’s latest ferrous scrap survey data.
Domestic mill shipments rise in June: AISI
US steel shipments increased month over month and year over year in June, according to the latest figures from the American Iron and Steel Institute (AISI).
SunCoke completes Phoenix Global buy
SunCoke Energy completed its previously announced $325-million acquisition of Phoenix Global on Friday, Aug. 1.
Olympic remains acquisitive despite Q2 earnings slide
Olympic Steel's earnings fell in the second quarter amid an "unprecedented" environment in the metals industry.
Final Thoughts
We're less than a month out from Steel Summit 2025. Have you already signed up?
Trump exempts Brazilian pig iron, iron ore ahead of deadline, 10% tariff remains
The Trump administration has exempted Brazilian pig iron and iron ore from an aggressive "reciprocal" tariff ahead of the Aug. 1 deadline.
Ryerson profits fall in Q2 on low demand
Ryerson’s earnings slumped in the second quarter amid “recessed” demand.
Steel groups voice different takes on US-EU trade deal
US and European steel trade groups were at odds over their reaction to the recent trade deal President Trump brokered with the EU.
Trump says Canada deal might not happen: Report
President Trump said a negotiated deal with Canada might not occur, and all existing tariffs, along with those set to take effect soon, will stay in place, according to media reports.
Despite trade chaos, Barry Schneider upbeat on SDI, steel
With 30 years of experience at Steel Dynamics, Barry Schneider reflects on the company and the state of the steel industry.
Steel trade groups applaud Trump's S232 tariffs
Five trade organizations involved with North American steel have praised President Trump’s Section 232 tariffs on steel for helping the domestic industry.
Final Thoughts
Is there any clarity to be hoped for on the tariff front?
SDI concerned with potential Brazil pig iron tariffs
Steel Dynamics Inc. (SDI) executives called a 50% tariff on Brazilian pig iron “concerning,” but think tariffs will be a “mainstay” of trade agreements going forward.
SDI earnings slip in Q2 as trade volatility hits customer orders
SDI profits slipped in second quarter amid trade policy volatility.
Final Thoughts
What to look out for regarding ferrous scrap ahead of Steel Summit.
China hits out at Canadian tariff actions
The Chinese government has threatened countermeasures on Canada following the Canadian government's announcement on curbing steel imports, according to media reports.
Canadian PM moves to put tighter check on steel imports
Canadian Prime Minister Mark Carney has announced new measures to limit steel imports into the country.
Algoma sees narrower Q2 loss but feels tariff sting
Algoma Steel expects a narrower sequential loss in the second quarter, but the company continues to be impacted by the US tariff situation.
Final Thoughts
Is outer space steel's final frontier?
Nucor keeps HR price at $910/ton
Nucor is holding its list price for spot hot-rolled coil at $910 per short ton (st), unchanged since June 30.
SMU Scrap Survey: Sentiment Indices rise
Both current and future scrap sentiment jumped this month, though survey participants reported responses before key trade news was announced.
HRC vs. busheling spread widens again in July
The price spread between prime scrap and hot-rolled coil widened marginally again in July.
Toyota Tsusho completes buy of Radius Recycling
Japan’s Toyota Tsusho Corp. has completed its previously announced acquisition of Radius Recycling.