Holiday Notice: Fourth of July
SMU will be closed on Friday, July 4, with no Sunday newsletter on Sunday, July 6.
Steel News
Final Thoughts
I’m not sure how many different ways I can write that it’s been a quiet market ahead of Independence Day.
There are variations on that theme. I’ve heard everything from the ominous “eerily quiet” to “getting better” and even the occasional “blissfully unaware” (because I’m enjoying my vacation).
HR Futures: Financial players bullish on price, physical market participants not
We can interpret that managed money still has expectations of price strength while physical participants are running closer to a balance on a net basis.
SMU’s Week in Review: June 30-July 3
It will be a shorter week as the United States celebrates Independence Day on Friday. But we won’t leave you high and dry.
Domestic steel shipments slipped in May: AISI
US mills shipped slightly less steel in May than in April, according to the latest figures from the American Iron and Steel Institute (AISI).
Steel groups welcome passage of budget bill
Steel trade groups praised the passage of the Big Beautiful Bill (BBB) in Congress on Thursday.
USW cheers Evraz NA agreement with Atlas Holdings
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.
Drilling activity down further in US, climbs in Canada
The rig count declined for the 10th consecutive week in the US, while Canadian count rose for the fifth straight week, according to Baker Hughes.
Triple-S closes on American Stainless Tubing buy
Triple-S Steel Holdings has closed on its previously announced acquisition of American Stainless Tubing.
Cliffs unveils new hydrogen-powered stainless line in Ohio
CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.
CRU: Excessive global supply could hit rebar mill investments in US
Following the onset of the war in Ukraine in March 2022, concerns about import availability and expectations of rising demand from President Biden’s Infrastructure Bill pushed US rebar prices to record highs. In response, a flurry of new mills and capacity expansions were announced to meet the rise in demand from growth in the construction […]
Doubled S232 tariff holds US HR prices below EU
David Schollaert presents this week’s analysis of hot-rolled coil prices, foreign vs. domestic.
SMU Market Chatter: Uncertainty reigns this Independence Day
Steel buyers this week are lamenting weak demand, cautious buying, and So. Much. Uncertainty. I’m no doctor, but I suggest a dual diagnosis of extreme tariff fatigue and early-onset summer doldrums.
Steel buyer spirits tempered by soft spot market conditions
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.
SMU’s June at a glance
A look at SMU data for the month of June.
Global Steel Climate Council certifies eight SDI, ASA HR products
GSCC certifies eight products from Steel Dynamics and Arkansas Steel Associates.
Ferrous scrap export activity resumes
Ferrous scrap export activity has picked up steam.
AMU: Cascade Die Casting to expand North Carolina site
CDC Atlantic already houses 13 die-casting machines (ranging from 900 to 1,600 tons), three on-site furnaces, and shot blasting capabilities.
Final Thoughts
What’s going to be the next big thing in steel?
SMU Price Ranges: Sheet and plate steady ahead of Independence Day
Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.
Industry groups praise Senate for passing tax and budget bill
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.
Canada moves to curb steel imports with TRQs
Canada has implemented tariff-rate quotas (TRQs) on steel imports to help stabilize its domestic market.
Owner of Liberty Steel, family killed in plane crash
The owner of Liberty Steel and his family were among the six victims of a plane crash in Ohio on Sunday, according to local media reports.
ISM: Manufacturing growth slowed again in June
US manufacturing activity slowed for a fourth straight month in June. That’s a sharp shift after trending up for most of Q1.
Cliffs idles Steelton, Riverdale, and Conshohocken operations
Cliffs has idled facilities in Riverdale, Ill., and Conshohocken and Steelton, Pa.
Radius loss narrows, volumes climb in ‘healthy’ West Coast market
Stronger steel demand in the Western US, rising scrap flows, and improved rolling mill utilization drove sequential gains for Portland, Ore.-based Radius Recycling.
Miller on Raw Materials: Are more DRI investments coming to the US?
Will more DRI investment come to the US?
AISI: Raw steel production backs off multi-year high
US raw steel output edged lower last week after hitting a multi-year high in mid-June, according to the American Iron and Steel Institute (AISI).
Nucor maintains plate prices, opens August order book
Nucor aims to keep plate prices flat again with the opening of its August order book.
Commerce launches probe into unfairly traded rebar imports
Here are the details and a case timeline for the rebar trade case recently initiated by the Commerce Department.