Contributor: Kristen DiLandro

An SMU Community Chat with Timna Tanners.

Most buyers expect prices to rise slightly in the short term or remain flat. But many qualify this view as transitory or dependent on demand improvements. 

Register for Steel 101, space is limited. Don’t miss it! Did you know one of Hollywood’s favorite set locations is also the site of SMU’s next Steel 101 workshop? The workshop is an excellent way to build a solid foundation of steel knowledge or sharpen your existing understanding.  Join us on location at the Nucor CSI facility in Ontario, California, on Jan. 13-14, 2026.  Attendees […]

US plate market participants hope the new year will bring favorable market conditions. But they remain leery of making big purchases because of lingering uncertainty.

The latest SMU’s Steel Buyers’ Sentiment Indices showed mixed results.

Participants in the domestic coil market hope producer price increases indicate strong market conditions entering the new year.

The Dodge Momentum Index (DMI) decreased 1% from October to November. However, it's up 36% year-to-date from the average reading over the same period in 2024, according to the latest data released by Dodge Construction Network. 

The United Steelworkers (USW) Local 1123 union and Metallus have reached a new tentative agreement for a four-year contract.  

Sources expect the recent spot market price hikes on domestically produced plate products to be accepted by the market.  

Economic activity across the US was largely static with some modest activity unfolding at a sluggish pace, according to the US Federal Reserve’s (The Fed) latest Beige Book report.

Steel Dynamics Inc. (SDI) said on Monday it has completed the acquisition of the remaining 55% equity interest stake in New Process Steel. 

The Institute for Supply Management’s (ISM) latest report reflects the dim market conditions reported by US manufacturing executives in November. 

German Economy Minister Katherina Reiche expressed frustration with US levies on steel and aluminum products. The US contends the EU is unfairly targeting its big tech firms.  

Toyota says its $912‑million investment in the US will boost production capacity for hybrids and introduce hybrid‑electric Corollas.

General Motors (GM) is planning a ~$250 million investment to upgrade its Parma Metal Center. The outlay is part of GM's plans to invest ~$4 billion in its US-based manufacturing operations over the next two years. Its 2025 reshoring commitments currently total over $5 billion.

Sources say domestic mill lead times and consumer spot prices have increased this week.

Domestic plate market participants anticipate strong economic growth in the first quarter of 2026, which they say is the perfect reason for spot market price hikes now.  

Steel market chatter from our most recent survey.

Algoma Steel plans to continue its transition to electric-arc furnace (EAF) steelmaking using the CA$500 million in loans from the Ontario provincial and Canadian federal governments.

Manufacturing activity in New York state was slightly elevated in early November.

The Latin American Steel Association (Alacero) has chosen Máximo Vedoya as its new president. 

Wiley Law trade attorneys, Alan Price and Robert DeFrancesco, offered legal expertise to steel and aluminum market participants on Thursday’s SMU Community Chat. 

US sheet market participants say demand for hot- and cold-rolled coils has not increased, leaving them confused by mill price increases and average lead times.  

Plate market participants anticipated price increases from domestic producers. For weeks, sources predicted an increase. No one, however, was sure of timing due to subdued demand. Following the news that JSW increased its spot market plate prices by $40 per short ton (st), sources said they anticipate more mills will begin rolling out increases.   From […]

US steel and manufacturing industries say they face a new set of uncertain market factors due to the government’s shutdown and the potential repeal of “reciprocal” tariffs.  

Russel Metals posted mixed financial results in its third-quarter earnings report. The Mississauga, Ontario-based metals processing and distribution company generated Canadian $35 million (US$53.5 million) in net income for Q3'25, representing a 1.4% increase from the same quarter in 2024.

Anyone standing near the Sheraton Grand at Wild Horse Pass in Phoenix, Az undoubtedly felt a kinetic charge this week. Professionals from coast-to-coast convened in the posh desert oasis for the Association of Women in the Metals Industry (AMWI) 2025 conference. Amidst the metals crowd were those leading teams and organizations through the heat of the 2025 moment.  

The United Steelworkers (USW) union has voted down a tentative agreement with Metallus. The parties will continue the existing labor contract for 90 days, until Jan. 29, 2026, as they continue negotiating.

The latest monthly ISM report confirms the American manufacturing sector continued to contract for another month. October marked the eighth consecutive month...

Zekelman Industries said Canadians who report the use of foreign steel in active or future public construction projects are eligible for a CAD$1,000.00 (USD$711.62) payment.