SDI's Q1 earnings slump on-year, but up sequentially
SDI earnings slip in first quarter year over year, but are up sequentially.
Contributor: Ethan Bernard
Ethan Bernard
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AZZ Inc.'s earnings rise, but sales dip on weather woes
AZZ Inc. posted higher earnings in its fiscal fourth quarter, but sales slipped on weather disruptions.
POSCO inks MoU with Hyundai on Louisiana EAF mill
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.
Final Thoughts
Nearly 50% of respondents to our latest survey thought hot-rolled coil prices have already peaked. And where will those prices be two months from now? Responses were decidedly split on that question.
Holiday Notice: Easter
Steel Market Update will be taking time off in observance of Good Friday and Easter.
SMU Survey: Buyers' Sentiment Indices fall
Current Sentiment Index dropped six points to +42 this week compared to two weeks earlier. It has fallen in every successive survey since reaching a 2025 high of +66 on Feb. 19.
AISI announces publication of environmental rules for N. American steel construction products
The American Iron and Steel Institute (AISI) has announced the publication of the third version of the Product Category Rules (PCR) for North American Steel Construction Products.
POSCO mulls teaming up with Hyundai on Louisiana mill
South Korea’s POSCO is eyeing linking up with Hyundai Steel in the project to build a steel plant in Louisiana, according to media reports.
Olympic taps Hegler for GM role at Action Stainless
Olympic Steel has named Alex Hegler as general manager for its Action Stainless facility in Rock Hill, S.C.
Final Thoughts
What happens when ChatGPT meets SMU's Market Chatter? No, this is not an idea for the latest Hollywood blockbuster. Then again, with what Hollywood is putting out these days, Chatter Meets Chat might just turn out to be a hit. Rather, it’s that old idea of putting theory into practice. Recently, I conducted an interview with Doug Schrock, managing principal of AI at public accounting and consulting firm Crowe. He gave some tips on how to implement AI into your business.
Trump signs executive order aimed at making US shipbuilding 'great again'
President Trump on Wednesday signed an executive order meant to breathe new life into American shipbuilding and curb Chinese dominance in the sector.
HRC, prime scrap spread narrows in April
The price spread between hot-rolled coil (HRC) and prime scrap narrowed in April after widening since January, according to SMU’s most recent pricing data.
US scrap tags drop in April as tariff fog continues
US scrap prices declined in April for all the grades tracked by SMU amid tariff uncertainty, according to market sources.
Trump still against selling USS to Japanese firm: Report
Despite ordering a new review of Nippon Steel’s bid for U.S. Steel, President Trump said he is still against selling USS to a Japanese company, according to media reports.
Ancora abandons plan to take over leadership of USS
Investment firm Ancora Holdings Group has halted its play for U.S. Steel's board, citing Nippon Steel’s proposed bid for USS “gaining momentum.”
Ancora says plan for USS would yield higher value than Nippon deal
Ancora’s intention to replace U.S. Steel's leadership was first announced in late January.
Trump orders new CFIUS review for USS
President Trump has ordered a new review of Nippon Steel’s proposed buy of U.S. Steel, to be completed within 45 days.
Scrap market chatter this month
Scrap buyers sound off on prices, demand, etc., in SMU's monthly scrap survey.
Final Thoughts
Who could’ve guessed that the first stage to follow liberation would be confusion. Well, when things get this liberated this fast, perhaps it’s to be expected. From the 30,000-foot view, “Liberation Day” didn’t have a significant impact on steel tariff-wise. That is, the Section 232 steel and aluminum tariffs stand alone from the reciprocal tariffs […]
Steel, recycling trade groups differ in 'Liberation Day' reactions
US steel trade groups representing mills had a far more positive reaction to President Trump’s “Liberation Day” than the leading recycled metals association.
Trump's 'Liberation Day' brings 10% baseline tariffs; steel, aluminum, and autos/parts excluded
President Trump’s promised “Liberation Day” has arrived, with a 10% minimum tariff on imports. But there are some very important exceptions: The United States’ USMCA partners, Canada and Mexico, are excluded from the reciprocal tariffs for now. In addition, steel, aluminum, as well as autos and auto parts are excluded from the reciprocal tariffs. That’s […]
Atlas Tube debuts 'HSS Connections Hub'
Atlas Tube, part of Zekelman Industries, has introduced an engineering resource aimed at simplifying Hollow Structural Sections (HSS) connection design for structural engineers and fabricators.
Final Thoughts
The market breathlessly awaits the arrival of President Trump's "Liberation Day."
ISM: Manufacturing expansion loses steam after two months of growth
US manufacturing activity slowed in March after two straight months of expansion, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Olympic opens new Houston facility for Action Stainless unit
Olympic Steel has opened a new facility in Houston to support its Action Stainless business.
Nippon could up investment in USS facilities to $7B: Report
It's the latest twist as the proxy battle heats up for Pittsburgh-based U.S. Steel.
Crowe's Schrock explains how to adopt AI at your firm
Crowe's Doug Schrock explains how to get up and running with AI at your company.
European Commission eyes stricter limit on tariff-free steel imports
The European Commmission is reducing the amount of tariff-free foreign steel that can enter the EU.
Trump says exceptions could exist on reciprocal tariffs
President Trump said on Monday there may be exceptions for some countries on reciprocal tariffs.
Hyundai formalizes plan to build $5.8B steel mill in Louisiana
South Korea’s Hyundai has formally announced a nearly $6-billion investment to build a steel mill in Louisiana to supply steel for the company’s automotive interests in the southeastern US.