Sure, demand isn’t as good the market had hoped it would be earlier this year. But assuming it doesn’t fall of a cliff, buyers will have to restock at some point. And that might give domestic mills enough leverage to raise prices again.
Most sheet and plate prices edged lower again this week, albeit at a slower pace compared to the movements seen over the last seven weeks. Buyers remain cautious and hesitant to hold onto much inventory, citing lingering demand concerns, ongoing tariff uncertainty, and a potentially weakening scrap market in June.
We keep hearing that there are backroom discussions about pitching a ban on used beverage containers (UBC) from the US.
“It was a little more of a seller’s market as contractors seemed to be protecting themselves against a potential run up in prices,” one buyer said.
After recently receiving an industry honor on behalf of Ternium, I had the opportunity to reflect and share my vision on the state and future of our industry.
An update on the ferrous scrap market.
Following three weekly increases, domestic mill output edged lower last week, according to the American Iron and Steel Institute (AISI).
Nippon Steel could build a new domestic U.S. Steel mill with a total investment of $4 billion.
Nucor has lowered its consumer spot price by $20 per short ton, marking the third consecutive weekly decrease.
While I would anticipate market sentiment to pivot and improve if all the questions around tariffs were answered, that still leaves us with a few other factors.
Go beyond the classroom with a behind-the-scenes mill tour at SMU’s next Steel 101 – an immersive, expert-led introduction to steel production and market dynamics.
Market participants in both the US and Europe noted that most buyers are patiently waiting for prices to reduce as they have enough inventory at hand.
International trade remains at the forefront of President Trump’s agenda, especially as new negotiations and investigations continue to be announced.
Commerce began a review of five producers/exporters: NLMK Verona; Officine Technosider; F.A.R. Fonderie Acciaierie; Ferriera Valsider and Metinvest Trametal.
The period under review is Jan. 1, 2022, through Dec. 31, 2022.
An analysis of the North American energy market in May.
Since March 21 when UAE announced plans to invest $1.4 trillion in the US, including an aluminum smelter, the market has been waiting for details. Now, we have some.
The budget proposal has big implications for steel and manufacturing.
The US Commerce Department has provided the final results for the countervailing administrative review of certain corrosion-resistant steel products (CORE) from South Korea.
SMU’s Buyers’ Sentiment Indices resumed their downward trend this week, erasing the modest recovery seen two weeks ago.
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
US cold-rolled (CR) coil prices were down again this week, slipping six weeks in a row and seeing the sharpest drop-off since last July.
Let’s see what SMU survey respondents are saying about Trump’s tariffs.
Domestic hot-rolled (HR) coil prices fell this week, now down seven of the last eight weeks.
Manufacturing activity in New York state declined for the third consecutive month, according to the May Empire State Manufacturing Survey from the Federal Reserve Bank of New York. Responding firms continue to forecast weaker business conditions in the coming months.
SMU’s Mill Order Index (MOI) declined for a second straight month in April after repeated gains at the start of the year, according to our latest service center inventories data.
Sheet and plate lead times declined across the board this week, according to buyers responding to the latest SMU market survey. While our lead time ranges were unchanged compared to mid-April levels, average production times for each steel product we measure have declined from they were two weeks ago.
Quotas featured in the UK agreement may show up in future deals.
Domestic mills are largely negotiable on spot prices, according to the majority of steel buyers responding to our latest market survey.
A look at the latest developments in the ferrous scrap export market.