Steel plate market participants think increasing spot prices and growing order volumes could stick around. That’s two encouraging signs for the year ahead, they said. Oregon Steel Mills, SSAB, and Nucor all increased base prices for plate products by $40 per short ton (st) in the final weeks of December. SMU data also indicates that mills […]
The number of oil and gas rigs operating in the US fell this week, while Canadian activity surged, according to the latest data released from Baker Hughes.
Sources in the domestic hot-rolled sheet market say they are standing by for an uptick in customer demand. These service center market participants, located in various regions of the US, expect to handle an influx of customer orders this month.
The state of Louisiana has purchased 1,700 acres along the Mississippi River from Germania Plantation Inc. for $91 million for Hyundai Steel's proposed EAF operation.
Kloeckner Metals Corp. announced that beginning Jan. 1, 2026, the former Bauer Built Manufacturing site in Paton, Iowa, would lead all its commercial, manufacturing, and other operational activities.
The Institute for Supply Management’s (ISM) latest report finds that December 2025’s market conditions in the manufacturing sector continued to soften.
Majestic Steel USA announced that Chad Broyles will now be the Executive Vice President for its business operations unit. The Cleveland-headquartered flat-rolled steel distributor and processor expects Broyles to help Majestic align its commercial and operational priorities. As EVP, Broyles will oversee service center operations, according to the company’s Jan. 5 statement. Todd Leebow, president and CEO of Majestic Steel USA, noted that since joining Majestic in 2025 Broyles’ has been a valuable contributor to its […]
Demand for heavy steel plate used in offshore wind farms faces renewed uncertainty after President Trump paused leases for five offshore wind projects.
Members of the United Steelworkers (USW) Local 1123 labor union voted against ratifying a second proposed deal with Metallus on Dec. 18.
Nucor Plate Group notified customers it was aiming to increase all plate product prices by $40 per short ton (st).
Nucor raised its weekly hot-rolled coil spot list price by $10 per short ton (st) this week, marking the company's ninth consecutive increase.
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.