This week’s SMU survey reveals that a growing number of steel market participants are weary of tariffs and are awaiting evidence of progress reshoring. At the start of 2025, now-second-term President, Donald Trump, pronounced that his plan to implement tariffs would result in increased revenue for the US.
Hot rolled spot market participants reported another week of moderate demand and ample supply, with no strong signs that conditions will change next week.
US plate market participants are not fazed by the constricted nature of the current spot market pricing environment. Right now, they said, mill’s choosing to hold prices from one month to the next makes sense because service centers remain amply supplied and demand is stable. Modest upticks or slips in prices are aligned with most of the participants' expectations right now.
Nucor Plate Group has informed customers that August spot prices will remain flat.
Nippon Steel earnings take hit from buy of U.S. Steel.
Her insatiable curiosity and desire to solve complex problems remain at the forefront of O’Neal Steel President and CEO Jodi Parnell’s success in the steel industry. Parnell is as fluent in employee management styles as she is in managing successful client technology adoption.
Seasonal steel slowdowns combined with ongoing anxieties about tariffs and mill strategies have dampened sentiment for several hot-rolled steel market participants this week. Buyers are jittery, market stands still The operator of a Midwest-based service center said that steel buyers are scared. “Everyone is afraid to buy steel right now. Unless you’re on a […]
U.S. Steel (USS) appointed three new, independent US members to its board of directors, the company announced.
GrafTech International attributed its second-quarter net loss to a non-cash tax expense and lower weighted average realized prices.
Cleveland-Cliffs is idling blast furnace, BOF shop, and continuous caster functions at its Dearborn plant, but downstream operations will remain unaffected, the company confirmed. Cliffs said its pickling line tandeom cold mill (PLTCM) and its extra wide automotive-grade galvanizing line for exposed parts will continue operations at the Dearborn, Michigan-based facility.
Chief executive of the Institute for Supply Management (ISM), Tom Derry highlighted how reactive buying behavior has shifted the market into a quiet demand period. Derry presented ISM data during the weekly SMU community chat.
Algoma Steel applied to Canada’s federal Large Enterprise Tariff Loan (LETL) program for $500 million to support its long-term operations.
Despite improved operating results, SSAB Americas' second-quarter and H1’25 profits fell short of those of last year.
Metalforming manufacturers say they’re more confident that near-term economic conditions are improving
Galvanized steel prices ping-ponged in the $50/hundredweight range during the month of July, settling in at roughly the same position as in June.
US Treasury Secretary Scott Bessent told reporters that tariffs for Vietnamese imports to the US are 20% and "specific industries" have trade protections under the Section 232 tariffs.
The United Steelworkers (USW) labor union celebrated recent news of the signed agreement between Atlas Holdings and Evraz NA in which the Connecticut-based private equity company said it plans to acquire North America’s Evraz facilities.
Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.
The Steel Manufacturers Association and the American Iron and Steel Institute applauded the tax provisions included in the Senate's tax and budget reconciliation bill.
The Chicago Purchasing Managers Index (PMI) slipped 0.1 points to 40.4 points, in June.
Steel market participants contend that buyers will remain in “wait-and-see" mode until some market stability is restored.
Uneven demand for galvanized steel in June reflects a market that remains mired in uncertainty, according to industry sources.
Subsidized Chinese steel imports and cheap steel products from Association of Southeast Asian Nations (ASEAN) entering Latin American (LATAM) are threatening the region's steel market.
Several steel market sources say they were blindsided when mills increased spot prices for hot-rolled coils this week.
Steel Dynamics Inc. (SDI) expects stronger second-quarter sequential earnings when it releases its full earnings report on Monday, July 21st.
Trade talks are progressing between the US and the market is contemplating the future of Section 232 tariffs.
Steel market participants learned that negotiations between the US and Mexico include discussions about Section 232 tariffs on steel and aluminum despite President Trump’s June 3 proclamation increasing the tariffs from 25% to 50% for all steel and aluminum imports—except for those from the UK.
Two industry groups are applauding two EPA proposals that would support domestic steel production.
Steel industry veteran David ‘Dave’ Aycock died on Saturday at the age of 94.
ArcelorMittal’s (AM) Hamilton location to be shuttered, wire production shifting to Montreal.