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Latest news
US hot band prices hold, import gap eases marginally
SMU’s average price for domestic hot rolled was unchanged week on week at $1,180 per short ton. In offshore markets, prices mainly moved up.
US plate market tightens further, mills restrict tons
The domestic plate market is increasingly constrained as lead times spill well into Q3 and mills talk allocation.
NEMO Industries taps Tenova as technology provider for Louisiana DRI project
NEMO Industries has chosen Tenova as the technology provider for its planned direct-reduced iron (DRI) ENERGIRON plant in Louisiana.
Steel market chatter this week
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.
We are sharing a selection of the comments we received below, in each buyer’s own words.
SMU Price Ranges: Flat-rolled tags hold steady or move upward
Sheet and plate prices either held their ground or increased this week amid what remains an historically tight spot market.
AISI: Domestic steel production slips to four-month low
The amount of raw steel produced by US mills declined last week to the lowest rate recorded in over four months, according to recently released American Iron and Steel Institute (AISI) data. Domestic production has been historically strong for over five months now, recently touching a six-year high.
Canada launches CA$100M rebate to cut steel freight costs
Canadian steel producers will get new help moving material across the country under a federal freight rebate plan launched on Aug. 10.
Steel exports reach 17-month high in June
US steel exports recovered 7% in June, marking the highest monthly rate recorded since January 2025. Despite the recoveries seen over the last six months, trade has been historically weak for over a year and remains weak compared to 2022-2024 volumes.
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