ArcelorMittal’s EAF in Alabama expects first heat in Q2
The facility at AMNS Calvert will be the first EAF in North America capable of supplying exposed automotive grades with domestically melted and poured material.
Steel News
Final Thoughts
Tariff-related noise aside, there is one basic factor keeping buyers on the sidelines. Despite recent declines, HR prices remain at historically high levels. And there is no obvious support to keep them there.
SMU price ranges: Sheet and plate prices slip
Most sheet and plate steel prices declined yet again this week, with four of SMU’s five indices moving lower.
Service centers: Mill orders retreat in March
SMU’s Mill Order Index declined in March after repeated gains at the start of the year, according to our latest service center inventories data.
Nucor’s Topalian lauds Trump’s trade policies, downplays impact
Nucor’s top exec Leon Topalian said the benefit of the current administration’s aggressive trade policies “trumps” any risk of potentially higher raw materials prices.
Trump plans to relax some auto tariffs
It’s just the latest change for US trade policy
Get an inside look at steelmaking at SMU’s Steel 101 workshop
If you’re looking to build a solid foundation in steel or sharpen the knowledge you already have, the SMU Steel 101 Workshop is a great place to start. Our next workshop will be held in Memphis, Tenn. on June 10-11, 2025
SSAB reports higher production, shipments
But profits slipped vs. last year.
Nucor earnings slump in first quarter, but better times seen ahead
Nucor’s profits fell precipitously in the first quarter, but the company has a rosier outlook for the following quarter.
AISI: Raw steel production climbs to 7-month high
US steel mills produced more raw steel last week than they have over the past seven months, according to the American Iron and Steel Institute.
Worthington Steel set to move HQ across town
Worthington Steel is preparing to move its corporate headquarters to the Easton area of Columbus, Ohio.
Nucor maintains plate prices
Nucor aims to keep plate prices flat with the opening of its June order book.
Nucor holds HRC CSP at $930/ton for third week
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil remained unchanged this week.
Final Thoughts
United Airlines raised eyebrows earlier this month when it provided two forecasts for 2025 – one assuming a relatively stable economy and another assuming a recession.
The reason? Uncertainty around the impact of President Trump’s policy shocks on the broader economy. And it sometimes feels like we’re seeing a battle between those two narratives (stable vs recession) play out within in the pages of this newsletter.
Price: Expect new trade shocks as Trump’s ‘reciprocal’ tariff negotiations continue
President Trump cast a wide net with the proposed, reciprocal tariffs. The negotiating stage will be critical to determining the success of his strategy. And for those suffering tariff whiplash, don’t expect the pace of change to slow down just because the reciprocal tariffs are entering a negotiating phase.
Join SMU on Wednesday for a Community Chat with Bilstein Cold Rolled Steel CEO Brent Wilson
Bilstein Cold Rolled Steel LLC CEO Brent Wilson will be the featured speaker on the next SMU Community Chat webinar on Wednesday, April 30, at 11 am ET. You can register here. Reminder: The live webinar is free to attend. A recording will be available only to SMU subscribers. About Bilstein and Wilson Bilstein Cold […]
SMU Week in Review: April 21-25
The constant flow of information we all receive can be a bit overwhelming, but SMU is here to help with a weekly snapshot.
SMU Steel Summit 2025: A vibe you won’t want to miss
SMU Steel Summit 2025 will be here before you know it. Be sure to register!
US rig count up, Canada declines
Oil and gas drilling activity was mixed this week, according to Baker Hughes. US rig counts expanded for a second straight week, while Canadian activity continued its seasonal slowdown of eight consecutive weeks.
Nucor names Batterbee, Bledsoe to HR roles
Nucor Corp. has promoted Thomas J. Batterbee to the position EVP of human resources and talent and appointed Elizabeth Bledsoe to the newly created position of president of human resources and talent.
US, offshore CRC prices continue to diverge
US cold-rolled (CR) coil prices declined again this week, slipping for a third straight week. Most offshore markets did the opposite, moving higher this week.
GrafTech loss widens in first quarter amid ‘global economic uncertainty’
GrafTech International reported a wider net loss in the first quarter amid “global economic uncertainty” and “fluid” global trade policies.
CRU: Chinese steel export prices mixed, although local buying improves
Chinese export prices for longs were almost steady this week, while those for flats generally declined as producers cut prices to secure deals.
Global steel production recovers in March
Global raw steel production increased in March, according to the latest figures released by the World Steel Association (worldsteel).
Wittbecker on Aluminum: US-China trade war clobbers cross-Pacific trade
Container shipping lines have sharply increased blank sailings on Transpacific routes in response to escalating trade tensions between the US and China.
Final Thoughts
Despite some scary headlines lately (especially about Trump potentially firing Fed Chair Jerome Powell) this is not October 2008 (financial crisis) or March 2020 (onset of the pandemic).
But it sure seems like we’ve taken a relatively strong economy and poured a thick sauce of uncertainty over it.
HR Futures: Nascent rally in HRC futures settles above 6-week downtrend
The CME Midwest HRC futures market’s response to Trump’s election and subsequent comments about blanket 25% tariffs on Canada and Mexico was surprisingly counterintuitive.
S232 lifts EU HR price over US, Asian HR still well behind
Domestic hot-rolled coil prices were flat this week after dropping for four straight weeks. Most offshore markets bucked the trend and gained ground.
CRU: Rising protectionism will continue to weigh on Chinese steel export prices
Chinese steel export prices are expected to remain stable or fall in the coming weeks as trade restrictions rise and tensions between the country and the US escalate.
Millett sees tariffs, CORE case benefiting SDI
Steel Dynamics’ top exec thinks Trump’s tariff policies, as well as the results from the recent CORE case, will prove advantageous to the Fort Wayne, Ind.-based steelmaker and aluminum company.