“Trump took to Twitter.” That was a familiar story lead in Trump 1.0. Now it’s “Trump took to Truth Social (or X).”
The latest example: President-elect Donald Trump on Monday evening said he was “totally against” U.S. Steel being acquired by Nippon Steel in a post on Truth Social.
Steel sheet prices remain at or near multi-month lows, while plate prices continue edging lower from their mid-2022 peak.
SMU’s Monthly Review provides a summary of important steel market metrics for the previous month. Our latest report includes data updated through November 30th.
Worthington Steel has reached an agreement to acquire a controlling equity stake in Italian-based electric motor lamination producer Sitem SpA.
The move comes less than two months after Tavares announced that he would step down in early 2026.
After a career in steel spanning four decades, Chuck Schmitt, head of SSAB Americas, will retire next year.
Cleveland-Cliffs has officially had spot HRC prices at $750/st since mid-September.
“I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan,” Trump said in a post on Truth Social on Monday.
“We are under constant threat from nonmarket economies who evade our trade laws,” SMA said.
Weekly raw steel production has hovered in this territory for the last two months, now at the sixth lowest rate of the year.
US manufacturing activity contracted again in November for the eighth consecutive month.
About 23% of respondents expect an uptick in economic activity in the next three months. That’s an increase over the 13% in October.
ITR economist Tyler St. Germain will join SMU for a Community Chat on Dec. 11 at 11 am ET. You can register here. The live webinar is free for all to attend. A recording will be available only to SMU members.
We’ll discuss the 2025-26 outlook for both the overall economy and also for manufacturing. We’ll in addition discuss how Trump administration policies when it comes to tariffs and immigration might impact the steel sector and key end use markets.
For the fourth week in a row, Nucor will keep its published spot price for hot-rolled (HR) coil unchanged.
Steel Market Update will be taking time off in observance of Thanksgiving.
President-elect Donald Trump has nominated attorney and US Air Force Veteran Jamieson Greer to be the next US Trade Representative (USTR).
The Chicago Business Barometer continues to indicate deteriorating business conditions in November, easing to a six-month low, according to Market News International (MNI) and the Institute for Supply Management (ISM).
American and Canadian steel trade groups, as well as the government of Mexico, have responded to President-elect Trump’s threat of imposing 25% tariffs on all US imports from Canada and Mexico and a 10% tariff on imports from China.
And so it begins (again). Not to be outdone by Thanksgiving, President-elect Donald Trump has threatened to impose tariffs of 25% on all imports from Canada and Mexico.
He also threatened to hit all imports from China with tariffs of 10% – an amount that would come on top of a boatload of pre-existing duties and tariffs.
SMU’s price indices saw minor fluctuations on sheet products this week, while our plate and Galvalume indices held steady.
US plate prices are at their lowest level in nearly four years and mills continue to do what they can to limit the bleeding. Domestic prices are now just a fraction of their all-time high of $1,940 per short ton (st) reached in May 2022, and trending lower.
On Monday, Nucor published new extras effective Jan, 4, 2025.
Japanese Prime Minister Shigeru Ishiba has asked that President Biden approve Nippon Steel’s $14.9-billion proposed offer to buy Pittsburgh-based U.S. Steel, according to a report in Reuters.
Contractors Steel was acquired in 2018 by UPG, a private equity firm with a portfolio of metals and logistics companies
The distributor and service center is opening a 250,000-square-foot facility in Canton, Mich.
The slowdown in North American zinc demand in recent months has played out across all sectors, and CRU now expects it to contract by 3.7% y/y.
The ferrous scrap markets both here and abroad are displaying a definite lack of enthusiasm as we head into the holiday season.
President-elect Donald Trump threatened on social media Monday evening to impose tariffs of 25% on all US imports from Canada and Mexico.
Domestic raw steel mill production increased to a four-week high last week, according to the American Iron and Steel Institute (AISI).
Flat-rolled steel service center Alliance Steel has expanded into the tubular market with the launch of Alliance Tubular Products. The new Alliance division manufactures square and rectangular electric resistance welded (ERW) products and steel HSS tubing. Production has already started and will continue to ramp up next year, the company said in a statement. Alliance […]