Contributor: Michael Cowden

Trade talks between the US and Canada collapsed late on Friday, just hours after media reports that an accord was near.

A potential trade deal with Canada and a possible reduction in Section 232 tariffs has rocketed back into the news just a few weeks after it seemed like negotiations between Washington and Ottawa were kaput.

Sheet prices and plate prices continued their relentless march higher over the last week as more participants said they were effectively on allocation, especially when it comes to hot-rolled (HR) coil.

Labor contract talks between the United Steelworkers (USW) union and U.S. Steel have made some headway. But the Pittsburgh-based steelmaker and the USW have somewhat different views about how much progress has been made to date.

Some key matters haven't been brought up yet. “We have not begun bargaining over economic issues, including wages,” the USW said in an update to members.

We’re a little over a week away from the opening of SMU Steel Summit, one of the largest gatherings of flat-rolled steel professionals in the world. If you’re registered, I encourage you to download the conference app. You’ll use it not only for networking but also to ask questions to our speakers. You’ll also need […]

Sheet and plate prices either held their ground or increased this week amid what remains an historically tight spot market.

It’s tough to find a new angle to write about in a market that continues to be characterized by the same trends. You know the ones: extremely limited spot tons, long lead times, low inventories, and high prices.

Sheet and plate prices continue to rise on extremely limited spot availability, long lead times, and solid demand, according to market participants.

Cleveland-Cliffs’ top executive said any restart of the blast furnace at its Dearborn Works in Michigan hinges on automakers reshoring more production to the US.

Cleveland-Cliffs President and CFO Celso Goncalves said no deal was imminent between the company and South Korean steelmaker POSCO because of disagreements over valuation.

Cleveland-Cliffs Inc. narrowed its losses in the second quarter thanks to increased demand, higher prices, longer lead times, and limited import competition.

Sheet prices continued to grind higher this week on factors familiar to most steel market participants: extremely limited spot availability, long lead times, low inventories, and firm demand.

Steel Dynamics Inc. posted sharply higher profits on record quarterly shipments and predicted the good times might continue to roll into 2027.

Hot-rolled and cold-rolled prices held steady again this week while prices for coated products and plate continued to tick upward.

A worker died on Saturday morning at U.S. Steel’s Granite City Works near St. Louis, the company and the United Steelworkers (USW) union said.

Barry Zekelman, executive chairman and CEO of Zekelman Industries, will be the featured guest on our next Community Chat on Wednesday, July 15, at 11 am ET.

If a trend of flat lead times holds, it would represent a change. And we’ve also seen a few of the other indicators we track slip from historic highs – so the potential shift is worth paying attention to.

Market reaction to Nucor’s move was mixed. Some sources said a flat CSP reflected concerns that further increases in US HR prices could attract more import competition. Others expressed frustration. Their view: CSP has kept a lid on prices, something that shouldn’t happen when many buyers remain more concerned about availability than price.

We asked our readers what they thought the outcome of the ongoing USMCA talks might be as far as Section 232 tariffs go. Very few see an elimination of tariffs as likely.

Barry Zekelman, executive chairman and CEO of Zekelman Industries, will be the featured guest on our next Community Chat on Wednesday, July 15, at 11 am ET.

We’ve gotten so used to the slow, steady increases by now that $5/ton feels like the new flat. And flat, after so many consecutive weeks of gains, feels like a decrease.

Hot-rolled (HR) coil and plate prices continued to tick higher even as cold-rolled (CR) and coated prices came in unchanged, according to SMU’s latest check of the market.

What comes next? Do prices plateau and then dip in late Q3/Q4 – which is what we saw in 2021? Or do they continue to rise into 2027?

US sheet prices continue to move higher on extremely limited spot availability, solid demand, and extended lead times.

Wells Fargo Managing Director Timna Tanners will join Steel Market Update (SMU) and Aluminum Market Update (AMU) for a Community Chat on Wednesday, June 24, at 11 am ET.

SMU released May service center inventories on Monday. And if you’re a premium subscriber, I recommend reading the report (here) if you haven’t already.

SMU and AMU are pleased to announce that Wells Fargo Managing Director Timna Tanners will be joining us for a Community Chat webinar on Wednesday, June 24, at 11 am ET.

Summer doldrums? Not this year! SMU’s latest steel market survey indicates that an increasing number of steel buyers think prices will continue to rise along with the mercury.

Has anyone seen a creature called the “spot ton” in the wild? I ask because they used to be a common sight. And now I hear they’re endangered.