Active rig count declines in US, Canada
Oil and gas drilling activity slowed in the US and Canada this past week. An unfamiliar trend after both regions saw repeated gains of late.
Steel News
Sheet market participants say sales still in a slump
Across the US and throughout the steel supply chain, market participants are reporting another painfully quiet week for hot-rolled (HR) coil sales.
Fabricator Merrill Steel building $32M+ facility in Arkansas
Steel fabricator Merrill Steel will spend over $32 million to construct a manufacturing facility Osceola, Ark.
AMU: Does the US-EU trade deal shift attention to Mexico or Canada?
On Thursday, the U.S. and EU agreed to more concrete terms to their handshake deal of last month.
CRU: Lower sheet prices have pulled back demand for imports
Domestic sheet prices in the US remained under pressure, limiting interest in imports, while domestic prices for longs products continued to rise.
SMU Survey: Current Sentiment tumbles on tariffs, uncertainty, soft demand
SMU’s Steel Buyers’ Sentiment Indices moved in opposing directions this week. Our Current Steel Buyers’ Sentiment Index dropped to one of the lowest levels recorded in over five years, while Future Buyers’ Sentiment inched higher.
How will scrap market handle fall outages?
The question among scrap players is can the market hold its level in the face of coming mill outages? Opinions are divided on the subject.
SMU flat-rolled market survey results now available
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 […]
Plate market buzzes with rumors of secret deals from mills
Carbon steel plate market participants suspect that this week’s modestly softer prices are the result of quietly negotiated prices between plate purchasers and mills.
Final Thoughts
With SMU Steel Summit starting in just a few days, I decided to go back and do a quick check on where things stand now compared to the week before Summit last year.
SMU Survey: Buyers report little change in sheet and plate lead times
Steel buyers report steady lead times for sheet and plate products, a soft-sideways trend we’ve seen since May.
HR Futures: Forward curve shifts lower, structure maintains
Scraping lower-quartile $800s on nearby futures is bringing limited trading ideas for CME hot-rolled coil (HRC) at present.
Canadian steelmakers call for protection after US adds derivatives to S232
The Canadian Steel Producers Association expressed dismay upon the news that the Trump administration had added over 400 products to the list of derivative products covered by the 50% Section 232 tariffs on steel and aluminum.
SMU Survey: Mills remain flexible on pricing, buyers say
The majority of steel buyers responding to our market survey this week continue to say that mills are negotiable on new spot order prices. Negotiation rates have remained high since May.
Sims’ long-term outlook bright, sees tariffs boosting US scrap demand
Australia-based global recycler Sims Ltd. has a rosy long-term outlook, while the company said tariffs are supporting US demand for ferrous scrap.
Spread between US HRC and imports widens on S232
HRC prices in the US eroded further last week, while offshore prices varied week over week (w/w), widening the price margin between stateside and foreign product.
Explosion rocks ArcelorMittal’s DR plant in Mexico
ArcelorMittal reported a “strong” explosion at the direct reduction part of its massive Lazaro Cardenas mill in Mexico.
US housing starts gain momentum in July
US housing starts rose in July both month-on-month and year-on-year, according to figures from the US Census Bureau.
China opens WTO dispute with Canada over steel, aluminum
China has requested dispute consultations with Canada at the WTO about Canadian measures on Chinese steel and aluminum imports.
Bipartisan Congressional Recycling Caucus gets relaunch
Rep. Haley Stevens (D., Mich.) has announced the relaunch of the bipartisan Congressional Recycling Caucus.
Galvanized steel prices slip while demand remains flat: HARDI
Galvanized steel prices dipped to ~$48/hundredweight in August from the $50-59/hundredweight range during the month of July.
Zekelman Industries creates VP role to accelerate AI adoption
To drive the company-wide adoption of artificial intelligence, Zekelman Industries has created a new role – Vice President of AI and Innovation – and hired Jason Pappas to fill it.
Final Thoughts
Is a pattern finally emerging in the post-Liberation Day tariff landscape?
SMU price ranges: Flat-rolled balloon continues to leak
Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.
Mill Steel relocating Texas facility to Port of Houston
Mill Steel Co. announced it is relocating its Houston operations to a bigger facility at the Port of Houston.
Leadership changes at Zekelman Industries, Atlas Tube
Zekelman Industries has shifted the leadership of its executive team with two internal promotions.
SDI to acquire remaining stake in New Process Steel
Steel Dynamics Inc. (SDI) announced that it has agreed to acquire the remaining 55% equity interest in New Process Steel.
Inclusion requests result in 400+ additions to S232’s derivatives list
The Commerce Department has added over 400 HTS codes to the list of steel and aluminum derivative products covered under the Section 232 tariffs.
Service centers: Mill orders improve in July
SMU’s Mill Order Index (MOI) moved higher in July after rebounding the month prior. The shift comes after mill orders declined from March through May.
North Star results improve despite buyer caution as tariffs drive prices higher
North Star BlueScope said it is optimistic that US tariffs will bolster selling prices and tighten the spread the Australia-based steel maker suffered in 2025.