Final Thoughts
Are we on the cusp of sorting out the tariff situation, or is this merely another round in the bout?
Steel News
SMU price ranges: Sheet, plate slip as lift from S232 ebbs
Sheet and plate prices slipped this week on so-so demand, sideways scrap prices, and chatter that certain mills were making unsolicited calls looking for tons.
US steel imports recovered in May, fell again in June
Following one of the lowest levels seen in more than two years, US steel imports rebounded from April to May. However, trade remains low relative to recent years. Preliminary license data suggests another fall in June.
CRU: US rebar and wire rod prices rise alongside S232 increase
CRU Senior Steel Analyst Alexandra Anderson discusses current market and pricing dynamics for long steel products in the US.
US ferrous scrap market lands flat in July
The US ferrous scrap market settled sideways in July.
Tom Danjczek retires from Headwall Partners
Industry veteran and longtime steel advocate Thomas A. Danjczek announced he will “finally fully retire” as senior advisor of Headwall Partners.
SMU Community Chat: CRU analysts Thais Terzian and Frank Nikolic on Wednesday
CRU analysts Thais Terzian and Frank Nikolic will be the featured guests on the next SMU Community Chat on Wednesday, July 9, at 11 am ET.
Bessent on Vietnam: 20% tariff stands, Section 232 protections apply
US Treasury Secretary Scott Bessent told reporters that tariffs for Vietnamese imports to the US are 20% and “specific industries” have trade protections under the Section 232 tariffs.
AISI: US steel mill production remains elevated
Domestic steel mill output inched higher last week, according to the American Iron and Steel Institute (AISI). Raw production remains historically strong and has been growing steadily since April.
Nucor holds HR list price at $910/ton
Nucor is keeping its list price for spot hot-rolled coil unchanged after last week’s shortened holiday week.
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.