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Latest news
New transactions in Brazil-US pig iron trade
The market activity for pig iron imports in the US has been limited recently. However, there have been two cargoes transacted from Brazil as well as continuing imports from India.
Hyundai holding ceremonial groundbreaking on Louisiana EAF mill: Report
Hyundai Steel was scheduled to hold a ceremonial groundbreaking on its electric-arc furnace (EAF) mill in Louisiana on Friday, according to local media reports.
Rocky Mountain Steel Mills, USW agree to new 5-year agreement
Rocky Mountain Steel Mills and the United Steelworkers (USW) union have reached a new five-year collective bargaining agreement.
SMU Survey: Current Sentiment rises as Future Sentiment dips
SMU’s Current Steel Buyers’ Sentiment Index inched up this week while the Future Sentiment Index edged down, according to our latest market survey.
Oil and gas rig counts stable in US, decline in Canada
Drilling activity held steady in the US but eased in Canada this week, according to recently released Baker Hughes rig count data.
Final Thoughts: Contract talks edition
If you’re looking for a deal on steel, this last week wasn’t the one to find one. (Nor was the week before that. Or the week before that.)
Meanwhile, contract negotiations are heating up in one of the tightest markets since at least 2021.
I’ve heard discounts will be lower, min-max ranges will be tighter, and there will be less freight equalization and waiving extras.
U.S. Steel restarts Gary Works No. 14 furnace after $350M reline, upgrades
U.S. Steel has restarted the No. 14 blast furnace at its Gary Works in northwest Indiana after a $350 million reline.
Holiday notice: Labor Day
SMU will be taking time off in observance of Labor Day.
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