Tag: steel

The increases are effective June 6.

Some aluminum parts are being replaced by steel. And more manufacturers are salvaging what they can before sending vehicles to recyclers.

US manufacturers brace for the implications spurred by the latest round of Section 232 tariffs.

On Monday and Tuesday, SMU polled steel buyers for their thoughts on the current market. We received an array of feedback, including prices, demand, inventories, imports, and evolving market events.

SMU’s Monthly Review provides a summary of our key steel market metrics for the previous month, with the latest data updated through May 30.

May marks the third consecutive month US manufacturing activity declined, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.

The price premium of galvanized coil over hot-rolled (HR) coil has narrowed over the past two months, resuming the downward trend seen for most of the last year. As of May 27, the spread between these two products is at one of its lowest levels in nearly two years.

The Chicago Business Barometer reports that decreases in new orders, order backlogs, and softer production pulled the index down by 4.1-points to 40.5, in May.

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 […]

We’re just 88 days out from North America’s largest gathering of the flat-rolled steel industry.

Most steel buyers responding to our latest market survey report that domestic mills are willing to talk price to secure new orders. Mill negotiability has continued to rise across all sheet and plate products we track, now at some of the highest levels recorded since late 2024.

The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]

Nucor has lowered its consumer spot price (CSP) for hot-rolled coil by $10 per short ton (st), marking the fourth consecutive weekly decrease.

According to our latest analysis, prices for four of the seven steelmaking raw materials we track increased from April to May. However, select materials saw a collective 1% decline month over month and are down 4% compared to three months ago.

Cleveland-Cliffs opened its June order book for spot material at $910 per short ton (st).

Metallus shuffles the management deck with new appointments.

Zekelman is known for his straight talk. And his company is one of the largest steel buyers in North America. So he’s got a better eye than most on steel market developments.

On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

Most sheet and plate prices edged lower again this week, albeit at a slower pace compared to the movements seen over the last seven weeks. Buyers remain cautious and hesitant to hold onto much inventory, citing lingering demand concerns, ongoing tariff uncertainty, and a potentially weakening scrap market in June.

Go beyond the classroom with a behind-the-scenes mill tour at SMU’s next Steel 101 – an immersive, expert-led introduction to steel production and market dynamics.

The budget proposal has big implications for steel and manufacturing.

SMU’s Buyers’ Sentiment Indices resumed their downward trend this week, erasing the modest recovery seen two weeks ago.

Sheet and plate lead times declined across the board this week, according to buyers responding to the latest SMU market survey. While our lead time ranges were unchanged compared to mid-April levels, average production times for each steel product we measure have declined from they were two weeks ago.

Domestic mills are largely negotiable on spot prices, according to the majority of steel buyers responding to our latest market survey.

Nucor said it temporarily and proactively halted some production operations at various locations.

All of SMU’s sheet and plate steel price indices declined this week, easing by $30-40 per short ton (st) on average since early May. Prices continue to slide lower as buyers remain on the sidelines, wary of holding much excess inventory and expecting further declines.

CRU Group revised down its forecast for North American auto production by about 800,000 to 14.7 million this year.

The volume of finished steel entering the US market rebounded in March, according to our analysis of US Department of Commerce and American Iron and Steel Institute (AISI) data.

A Pennsylvania state senator plans to submit legislation to incentivize steelmaking in the state.

The UK deal may signal relaxation of the heaviest tariffs. The suspension of the reciprocal tariffs greater than 10% - remember, 57 countries were hit with that - ends on July 9. But it could be extended. If more deals like the one with the UK are struck, the suspensions may continue to permit more agreements - relieving global markets of considerable worry.