Steel prices were stable to higher this week for the second consecutive week across the sheet and plate products tracked by SMU. Three of our price indices increased from the previous week, while two held firm.
Prices for five of the seven steelmaking raw materials tracked by SMU increased from February to March, according to our latest analysis.
Flat rolled = 58.6 shipping days of supply Plate = 49 shipping days of supply Flat rolled With the rapid run up in prices, US service centers saw a significant pickup in orders that caused flat-rolled steel supply to decline in February. At the end of February, service centers carried 58.6 shipping days of flat-rolled […]
A quick way to catch up on what you might have missed.
While overall steel demand remains weak in the near term, there are reasons to expect metallurgical coal prices will increase over the course of the year, Ramaco says.
President Trump’s tariffs are aimed in large part at bringing manufacturing back to the United States. In theory, it’s simple enough: Want to avoid a big tariff? Make it in the US!
The United States has officially reinstated undiluted Section 232 tariffs on steel and aluminum as of Wednesday, . All imports of the metals, as well as some derivative products, now face a 25% tax when entering the US.
Canada and the European Union are retaliating against what they deem to be unjustified tariffs on steel and aluminum by the United States.
The volume of finished steel entering the US market in January climbed to the highest level recorded in two and a half years.
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 […]
Employees at Evraz North America, a subsidiary of Russia's Evraz plc, reportedly falsified quality control test results on armored plate for military vehicles. Evraz NA denies the claims.
What are steel buyers saying this week about prices, demand, the import market, the evolving tariff situation, and more?
After over a month of increases, steel prices paused this week for some of the products tracked by SMU. Three of our price indices continued to climb, while two held steady from the prior week.
“CBP expects full compliance from the trade community for accurate reporting and payment of the additional duties. CBP will take enforcement action on non-compliance," the agency said in a March 7 bulletin.
US steel exports recovered to a five-month high in January after having fallen to a two-year low in December. This growth follows four consecutive months of declining exports.
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 […]