The Iran war and the blockade of the Strait of Hormuz have sent oil and aluminum prices soaring higher. The impact on steel has been mostly indirect but hardly insignificant – especially when it comes to the costs of moving metal.
The process to reduce Section 232 steel and aluminum tariffs for producers in Mexico and Canada garnered mixed reactions from steel and metals’ supply chain advocacy groups.
Plate market participants expect additional base price hikes from domestic mills, something that has some eyeing imports.
Following the historical lows seen in recent months, steel import volumes marginally increased in March and April.
Steel traders continue to report strong interest from North American buyers, with their import orders ticking higher, according to our latest survey results. Many manufacturers and service centers, however, report that they have not yet taken the bait.
US manufacturing activity grew for the fourth straight month in April, according to the latest report from the Institute for Supply Management (ISM). April marked the 18th month of overall economic expansion.
The price gap between US hot-rolled coil (HR) and landed offshore product tightened this week. The dynamic continues even as stateside and import prices diverged a bit vs. the prior week.
Anton Posner, CEO of Mercury Resources, will join Steel Market Update (SMU) and Aluminum Market Update (AMU) for a Community Chat on Thursday, May 14, at 11 am ET.
Market sources say 2026 could be a stronger year for plate market participants than 2025 if this week’s conditions are indicative of how the rest of the year plays out.
Last week, Steel Market Update and CRU hosted our inaugural VIP Briefing in Chicago ahead of the Scouting America Metals Industry Dinner.
Nucor executives said US steel demand remains stable, with pockets of strength in data centers, energy, border fence work, and infrastructure.
Recent conversations with plate market participants across the US revealed a wide range of experiences contingent on a variety of factors.
Sheet market participants reported steady to elevated demand over the past week. But while spot prices continued to edge up, some sources said lead times were becoming more closely aligned to industry norms.
Over the past few years, the slab market has changed significantly – Iran filled the position previously occupied by Ukraine before the war, Brazilian merchant slab supply fell, and the introduction of CBAM drew more interest into slab imports to the EU.
The price gap between US hot-rolled coil (HR) and landed offshore product tightened this week. The dynamic continues as both stateside and offshore prices have largely trended higher.
According to the latest findings from SMU’s survey, more respondents answered that President Trump’s tariff policies have been helpful to their businesses than in the prior survey.
North American steel buyers are signaling stronger interest in foreign material amid a tight market and rising global substrate costs, which are complicating purchasing decisions.
Core to the negotiations will be the need for a fundamental rebalancing of the relationship between the United States, Mexico, and Canada - especially when it comes to the steel and autos supply chain.
Apparent steel supply declined 3% from January to February to the third-lowest rate recorded in the past two years, just 5% above the near-five-year low set last November.
Factors like fluctuating demand, import availability, domestic product lead times, fuel surcharges, and end-user consumption left plate sources feeling unsettled.
Participants in the hot- and cold-rolled coils market are optimistic about the market's health.
Conditions in the US market remain tight as domestic demand is holding up with support from border wall projects and data center investments. The supply side has struggled to keep pace with weak import volumes, impacting the market.
Remember the “Got Milk?” advertising campaign of the 1990s. Maybe we should start a “Got Steel?” campaign. Or maybe “Got Spot Tons?” would be more accurate, if less catchy.
No doubt, events will scramble the status quo. Meanwhile, the global systems that have prevented major wars for 80 years are sagging.
Steel imports remain near some of the lowest volumes recorded in over five years.
Sheet market participants said they expect hot-rolled coil prices to continue to rise. A Midwest service center source said some mills are not taking spot orders. And even on the contract side, certain mills are “keeping customers at the ‘middle’ of their contract buys to help get lead-times back into shape,” he said. That’s a […]
The petitions allege that foreign producers are selling seamless and welded OCTG at unfairly low prices and, in Austria’s case, benefitting from countervailable subsidies.
The price gap between US hot-rolled coil (HR) and landed offshore product tightened this week.
Spot market participants worry that limited availability for certain grades of domestically produced plate will extend lead times even further.
The Commerce Department has launched another duty circumvention inquiry targeting coated steel imports at the request of two US mills.