Contributor: Ethan Bernard

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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.

Scrap Market Chatter in November

A sampling of SMU scrap survey respondent answers from November.

Calvert ops support ArcelorMittal earnings in Q3 despite Mexican woes

Consolidation of its Calvert operation supported ArcelorMittal's North American operations in the third quarter, despite ongoing Section 232 tariffs and outages at facilities in Mexico.

Canadian Steel Producers Association cheers federal budget safeguards for steel

The Canadian Steel Producers Association (CSPA) applauded the passage of the Canadian federal budget, which includes several measures that aid their domestic steel industry.

USW taps Brown as next international president

The United Steelworkers (USW) union has named Roxanne Brown as its next international president.

Final Thoughts

Could 2026 be the year when tariffs headwinds clear?

USS to invest $75M in new line at Alabama tubular facility

U.S. Steel has announced a $75-million capital investment to install a new premium thread line at its Fairfield Tubular Operations in Alabama.

POSCO aims for at least 10% stake in Cliffs, over $700M investment: Report

South Korean steelmaker POSCO is set to take at least a 10% stake in Cleveland-Cliffs and invest over $700 million, according to a South Korean media report.

Gerdau's N. American earnings rise in Q3 due to fall in imports

Gerdau’s North American profits rose in the third quarter, boosted by a decline in imports due to Section 232 steel tariffs.

SMU Survey: Steel Buyers' Sentiment Indices increase

SMU’s Steel Buyers’ Sentiment Indices both rose this week, with Current Sentiment rebounding 14 points.

Final Thoughts

Sometimes an entire news cycle happens in one week.

Algoma's losses widen in Q3 as tariff troubles continue

Algoma Steel’s net loss more than quadrupled in the third quarter on trade woes and its EAF transition. Separately, the company announced a change in leadership, as CEO Michael Garcia will retire at the end of the year.

Olympic reports lower Q3 profits after Ryerson merger announcement

Olympic Steel reported a decline in third-quarter earnings on Tuesday, as the company separately announced its merger with service center giant Ryerson.

M&A blockbuster as Ryerson, Olympic Steel announce merger

National service center chains Ryerson Holding Corp. and Olympic Steel Corp. have announced a merger between the two companies.

Saving US pig iron: NEMO Industries CEO Daniel Liss talks bringing back domestic production

NEMO Industries CEO talks cost and reasoning behind a $3-billion pig iron project in Louisiana.

Nucor profits jump, but company cautions on Q4 outlook

Nucor’s profits more than doubled in the third quarter year over year, but the company expects Q4’25 to be lower sequentially.

SDI announces proprietary low-carbon EDGE products

Steel Dynamics has announced lower-embodied-carbon steel products BIOEDGE and EDGE, and expects “immediate interest” from several markets for some of the offerings.

Final Thoughts

SMU digs into the vault to look back at an old survey, and to tell what exciting things are still to come.