Tag: steel

Section 232 tariffs are expected to go into effect March 12.

One thing we've learned from our survey here at SMU: When prices are rising, people have a lot to say. You can be assured that with our most recent survey, the comments were coming in fast and furious.

Steel imports ended 2024 on a low note, with November trade falling to a one-year low and December seeing a modest 3% recovery. Then as the new year began, import volumes spiked.

SMU’s Buyers’ Sentiment Indices both declined this week but remain strong. This indicates buyers are still optimistic about their companies' ability for success.

Wonder what the fallout from all the Trump tariffs might be? A manufacturing renaissance? A post-WWII order in ashes? Or something a little more down the middle? Then register for our next Community Chat on Thursday, March 13 at 11 am ET. Yes, you read that correctly, SMU is shattering precedent by holding a Community Chat on a day that is not Wednesday. Our featured speaker will be Alan Price, a leading trade attorney at Wiley and someone whose columns you read regularly in SMU.

Buyers responding to our latest market survey reported longer lead times this week on all of the sheet and plate products SMU tracks.

The majority of the steel buyers responding to our latest market survey reported that domestic mills are not open to negotiating prices on new orders this week.

The latest on the trade war

In the final week of February, SMU polled steel and scrap executives to gather their insights on the current state of the scrap market as well as future projections.

On 4 March, new 25% blanket tariffs across all products exported to the USA from Canada and Mexico are now in effect. The only exception is Canadian energy products, which will be assessed a 10% tariff.

April 2 is when reciprocal tariffs are expected to kick in.

Steel prices climbed across the board this week, with every steel product tracked by SMU rising to multi-month highs.

Construction spending edged down slightly in January, slipping for the first time in four months. The US Census Bureau estimated spending at a seasonally adjusted annual rate of $2,196 billion in January, down 0.2% from December’s downward revised rate. The January figure is 3.3% higher than a year ago. January’s result, despite the slight erosion, […]

SMU’s Monthly Review provides a summary of key SMU steel market metrics for the previous month, with the latest data updated through February 28th.

SMU’s ferrous scrap 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 “ferrous scrap survey” results. Past flat-rolled survey results are also available under that selection. If you need help accessing the […]

The company said 79 workers will be impacted.

While Congress has given the president enormous power over trade policy, the president wants to test the limits of that authority. If there are no guardrails, our economic and political liberty may be on the block. Stay tuned.

Four weeks have passed since the last article from Rock Trading Advisors on January 30. The paint has dried, and Midwest HRC futures have exploded higher in response to President Trump’s declaration of impending 25% tariffs on all imported steel products. The rolling 2nd month CME Midwest HRC future erupted through the top end of its downtrend, one that dates back to the peak of the winter 2022 rally. It also broke out of its narrow range seen dating back to June of last year.

Global crude steel output rose 5% from December to January but still lagged last year.

Prices for six of the seven steelmaking raw materials SMU tracks are increased from January to February, according to our latest analysis.

It won't be so easy to restart idled aluminum production in the US, AMU says.

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

Market participants might disagree over how high flat-rolled steel price might go and for how long they might remain elevated. But there is near total agreement on one thing: Prices are up sharply again this week. The gains come on the heels of waves of mill price increases (for sheet and for plate), expectations that scrap prices will rise again in March, and the threat of tariffs looming over the market.

Brazilian long products producer Gerdau is now considering siting a 600,000 ton per year specialty steel plant in the United States, rather than Mexico as initially planned, in the wake of President Donald Trump’s imposition of 25% tariffs on steel imports into the US.

Buyers are optimistic for a strong scrap market in March, driven by limited scrap inflows from severe weather disruptions and increasing mill demand.

Cleveland-Cliffs said it will open its April order book for spot material at $900 per short ton (st). The Cleveland-based steelmaker said the increase was necessary because of “rapidly changing market conditions” in a letter to customers dated Friday, Feb. 21.

Buyers responding to our latest market survey reported that steel mill lead times were stretching out this week for sheet and plate products tracked by SMU. The results weren’t much of a surprise. Production times have begun moving out following a wave of frenzied buying in response to stricter Section 232 announced by the Trump […]

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 […]

Sheet and plate prices surged higher this week on a wave of what some called “panic buying” following the Trump administration’s announcement of stricter Section 232 measures last week.

The Trump administration has revealed the list of derivative steel products being added to the Section 232 tariff list.