A majority of SMU survey respondents expect US prime scrap tags to land sideways in February. In our most recent survey last week, 51% said US prime scrap prices would be flat next month, and 46% anticipate rising prices; the small remainder think prices will fall. Recall that the January ferrous scrap market settled before […]
The Trump administration has backed off tariffs on Colombia after the White House said the leader of the Latin American nation agreed to President Trump’s demands. “The Government of Colombia has agreed to President Trump’s terms, including the unrestricted acceptance of illegal aliens from Colombia returned from the United States… without limitation or delay,” according […]
Olympic Steel Inc. has promoted Brant Harbert to general manager for the company’s three facilities in Bedford Heights and Dover, Ohio.
The Fort Wayne, Ind.-based company was ranked 29th overall
Steel Dynamics Inc. (SDI) remains upbeat about progress at its Sinton, Texas, sheet mill and expects it to be profitable in the upcoming months. “The Sinton team gained considerable momentum in the last two months—running above 80% capacity—and they are doing even better in January, with expectations to reach profitability in the coming months,” SDI Chairman and CEO Mark Millett said in a Q4’24 earnings call on Thursday.
The American Iron and Steel Institute (AISI) has reached out to the Trump administration, as well as some members of Congress, to present a blueprint of issues that are top of mind for steel producers. “2025 presents an opportunity for the new administration and Congress to take a holistic look at the key issues impacting […]
Sometimes new presidential administrations hit the ground running. No time for change like the present. And sometimes new administrations blast off on a SpaceX rocket bound for Mars. There’s a big universe, and we’ve got a lot of flags to plant. Such seems to be the case with the new Trump administration.
Nippon Steel’s litigation against the US government is set to begin in early February, according to a report by Japan’s Kyodo News Agency. Nippon will file its opening brief on Feb. 3. And both parties will conclude their claims by March 17 in the US Court of Appeals for the District of Columbia Circuit, Kyodo […]
President Donald Trump has promised an “overhaul” of the US trade system, and in short order the unveiling of an “America First Trade Policy.” “I will immediately begin the overhaul of our trade system to protect American workers and families,” Trump declared in his inaugural address on Monday, Jan. 20. “Instead of taxing our […]
Mexican steel trade association Canacero said steel exports from the Latin American country into the US do not pose a threat. And claims that Mexican steel exports have been the driver of US plant closures and layoffs are “unfounded,” the association said. “On the contrary, the US greatly benefits from steel trade flows and has […]
Nucor’s “ambitious” carbon targets by the end of the decade and beyond have been certified by the Global Steel Climate Council (GSCC). The Charlotte, N.C.-based steelmaker used a base year of 2023 for its science-based emissions targets (SBET). It set an SBET of 0.975 metric tons (mt) of CO2 emissions per mt of hot-rolled steel […]
Next Monday marks the start of the second Trump administration. The limbo we’ve been living in since Election Day in early November will finally come to an end. What better way to take a look at what’s coming up in Washington, D.C., than a conversation with Steel Manufacturers Association (SMA) President Philip K. Bell. He […]
The price spread between hot-rolled coil (HRC) and prime scrap continued to narrow in January, according to SMU’s most recent pricing data. While SMU’s average HRC price edged down week over week (w/w), it rose compared to a month ago. The January price for busheling also increased from December. Our average HRC price as of […]
US scrap tags rose for all the grades tracked by SMU in January in what was deemed a "restocking rally," sources said. The January market was up ~$20 per gross ton (gt) across the board. This did not include turnings, which were up $30/gt.
Cleveland-Cliffs could be teaming up with Nucor to make a play for U.S. Steel, according to an article at CNBC.
The Biden administration has pushed back until June the date for which Nippon Steel must unwind its $14.9-billion dollar deal for Pittsburgh-based U.S. Steel, the companies said on Saturday.
SMU lets readers respond on their thoughts about President Joe Biden blocking Nippon's deal for U.S. Steel.
Steel fabricators and distributors SPS Companies and State Steel will be merging their service center businesses under the SPS Companies family of firms.
Some world-changing events happen in an instant. Others take many twists and turns. The outcome remains unknowable at every phase. That is, until you finally arrive at the end of the roller coaster, the safety bar lifts up, and you stagger off the ride. It appears such is the case with Japan’s Nippon’s Steel Corp.’s (NSC’s) proposed $14.9-billion buy of Pittsburgh-based U.S. Steel. And the ride ain't over yet.
Nippon Steel and U.S. Steel have filed two lawsuits, one against the US government and the other against Cleveland-Cliffs and the United Steelworkers (USW) union's leader.
The chief executive of U.S. Steel has come out against President Biden’s decision to block the USS/Nippon Steel deal, calling it “corrupt.”
President Joe Biden has blocked Nippon Steel's proposed buy of Pittsburgh-based U.S. Steel, citing national security reasons.
The Biden administration is facing a deadline on the Nippon Steel/U.S. Steel deal by Tuesday, Jan. 7, according to a Dec. 31 article in The Washington Post.
Nucor said on Monday, Dec. 30, that it was keeping its spot base price for hot-rolled sheet this week at $750 per short ton (st).
Worthington Steel's CEO feels optimistic as the company heads into its second year as a standalone company.
The American Iron and Steel Institute (AISI) lauded the recent passage of a water resources bill in Congress.
Nippon Steel and a Japanese trading company have entered an agreement to buy a 49% interest in a Champion Iron ore project in Canada.
SMU looks back at stories from Decembers past, one, five, 10, and 100 years ago.
Lawrence D. ‘Larry’ Romboski, Jr.'s career in steel spanned 35 years, most recently serving as VP of sales for NLMK USA.
It's that time of year again. You know, that time when people wonder if those things are drones in New Jersey or if the aliens are ready to come onto the stage just in time for Inauguration Day. What will that do for steel price volatility? In any case, the SMU team finds itself in Pittsburgh this week.