CRU: JSW Steel powers to four-fold profit rise
India's JSW Steel reported a 307% year-on-year (y/y) jump in net profit to INR16.5 bn ($188 million, €161 million) in fiscal Q2.
Tag: steel
SMU Price Ranges: Sheet floor holds as market debates upside
Our average HR coil price increased $5/short ton from last week, marking a second consecutive week of modest gains. Market participants generally attributed the increase to...
Cliffs leans hard into auto after aluminum supply chain shock
Cleveland-Cliffs executives pointed to growing automotive demand as the engine driving a turnaround at the company.
CRU: Soft demand weighs on sheet imports into the US
US domestic sheet prices have remained rangebound in recent weeks as supply tightness met weak demand. Demand for steel produced in the US increased among some Mexican industrial buyers....
Industry piles on new Section 232 steel derivative inclusion requests
The Department of Commerce received 97 submissions from producers, manufacturers, and groups seeking Section 232 tariff coverage for steel and aluminum derivative products.
Guardian Bikes pushes to reshore and scale US bicycle manufacturing
As it accelerates an ambitious push to reshore American bicycle manufacturing, Guardian Bikes is seeking special tariff consideration for the bicycle industry.
Worldsteel: Global steel demand flat, but modest rebound forecast for 2026
The World Steel Association (worldsteel) Short Range Outlook for global steel demand predicts that 2025’s steel demand will clock in at the same level as in 2024. In its October report, the Brussels-based association stated that this year’s steel demand will reach ~1,750 million metric tons (mt). The organization forecasts a 1.3% demand rebound in 2026, pushing […]
Final Thoughts
There are days when this feels like a “nothing ever happens” market. Don’t get me wrong. Plenty is happening in the world. It’s just that none of it seems to matter when it comes to sheet and plate prices.
CRU: China’s indirect steel exports find new destination markets
The boom in China’s direct steel exports has not stopped this year, even with a rise in protectionist measures globally. The increase is driven by...
Domestic plate prices could heat up despite so-so demand, market sources say
Some sources also speculated that plate could see further price increases thanks to modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.
AZZ feels double-edged sword of tariffs with coating wins, Precoat headwinds
AZZ Inc. delivered steady results in its fiscal second quarter. While infrastructure-heavy work buoyed its Metal Coatings segment, its Precoat Metals business navigated softer building markets and tariff-driven uncertainty.
US and Canada expect positive outcomes from tariff negotiations
Canadian Prime Minister Mark Carney and US President Donald Trump told reporters at the White House on Tuesday that they’ll be formulating a trade deal that works for both nations.
TransPod, Algoma, Supreme Steel linkup anchors Canadian steel in high-speed transit build
The three Canadian companies have announced a strategic partnership to support the development of an ultra-high-speed transit line from Edmonton to Calgary.
SMU Survey: Buyers’ Sentiment slips again, future outlook improves
Each of our Sentiment Indices continues to reflect that steel buyers are positive about their present and future business prospects, though that confidence has eased considerably compared to the beginning of the year.
Jack Biegalski joins Esmark Steel Group as CEO
Jack Biegalski, former president and CEO of American Heavy Plates, has been named the new CEO of the Esmark Steel Group.
CRU: Bids made for Ilva assets
The Italian government has received 10 offers for the former Ilva integrated steel works at Taranto, but only two bidders are interested in purchasing all of the company’s assets.
Steel Dynamics guides to more metal, more money in Q3
Steel Dynamics Inc. is bullish heading into the close of the third quarter, with all three of its operating segments tracking higher.
Apparent steel supply remains elevated in July
Apparent supply totaled 8.88 million short tons (st) in July, down 38,000 st from June and 6% higher than the same month last year
Steel export volumes remain weak through July
Following a 3% decline in June, the amount of steel shipped outside of the US edged up 1% in July to 623,000 short tons. July was the sixth-lowest monthly export rate since the COVID-19 pandemic, and...
Mexico considers stiff tariffs for steel, autos, and other imports
Mexico is considering imposing steep tariffs on imports of steel, automobiles, and over 1,400 other products. Its target? Countries with which it does not have free trade agreements, mainly China, India, Thailand, and other South Asian nations.
Nucor maintains plate prices, opens October order book
Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.
SMU Survey: Sentiment inches up from low levels
SMU’s Steel Buyers’ Sentiment Indices ticked higher this week, according to the latest data from our flat-rolled steel survey.
SMU Survey: Most buyers say mills remain negotiable on prices
The majority of steel buyers responding to this week’s market survey continue to report that mills are open to negotiating spot prices on sheet and plate products.
Construction spending slows in July
Construction spending edged down slightly in July for a third straight month.
Steelmaking raw material prices hold steady
Most steelmaking raw material prices we track saw little change across the month of August. Iron ore, pig iron, shredded scrap, busheling scrap, zinc, and aluminum prices all held relatively steady,
SMU Survey: Current Sentiment tumbles on tariffs, uncertainty, soft demand
SMU’s Steel Buyers’ Sentiment Indices moved in opposing directions this week. Our Current Steel Buyers’ Sentiment Index dropped to one of the lowest levels recorded in over five years, while Future Buyers’ Sentiment inched higher.
SMU Survey: Mills remain flexible on pricing, buyers say
The majority of steel buyers responding to our market survey this week continue to say that mills are negotiable on new spot order prices. Negotiation rates have remained high since May.
Inclusion requests result in 400+ additions to S232's derivatives list
The Commerce Department has added over 400 HTS codes to the list of steel and aluminum derivative products covered under the Section 232 tariffs.
S232 widens the spread between US HRC and imports
Hot-rolled (HR) coil prices in the US declined again last week, while offshore prices ticked higher again week over week (w/w).
SMU Community Chat replay now available
The latest SMU Community Chat webinar reply featuring Lewis Leibowitz, trade attorney and SMU columnist, is now available on our website to all members.