Tag: US

Some hot-rolled coil market participants said they're optimistic that the market will remain strong throughout the rest of the year. 

Despite persistent pricing uncertainty, the Fed's latest Beige Book reported that the US economy continued to expand at a modest pace with labor market conditions improving.

Some domestic plate market sources expect spot price rises through the end of the year due to prolonged supply constraints.

Oregon Steel Mills is attempting to push spot plate prices up by at least $60 per short ton.

Some domestic hot-rolled coil market participants say they expect prices for hot-rolled coils to remain stable through the end of 2026.  The market participants predicted that mills would hold spot prices and incrementally tighten lead times. Continuing, that they’ll find imported product arrivals, experience seasonal demand dips and all conditions will culminate in stable prices throughout the summer.   Asked […]

Toyota Motor North America plans to invest $3.6 billion to expand its San Antonio manufacturing campus.

Iron ore shipments on the Great Lakes picked up in June, and year-to-date shipments show improvement over last year.

SMU’s June 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 scrap survey results are also available under that selection. If you need help accessing the survey […]

The American Iron and Steel Institute (AISI) reports that US mill shipments increased 6.2% in May from April. 

Talks of a potential joint venture between Atlas Tube and Maruichi USA have ended.

South Korean conglomerate Posco, which has expanded far beyond its original steel making activities, is to concentrate on expanding in business areas which support industrial security and supply chain resilience, Posco Chairman Chang In-hwa said. 

We asked our readers what they thought the outcome of the ongoing USMCA talks might be as far as Section 232 tariffs go. Very few see an elimination of tariffs as likely.

Limited spot product and extended lead times continue to characterize the domestic plate market, prolonging upward price pressure.

The US government did not agree to renew the USMCA agreement in its current form, US Trade Representative Jamieson Greer said on Wednesday.

The Chicago Business Barometer decreased by 6.0 points to 56.7 in June.

Some hot-rolled coil buyers expect continued incremental price increases from domestic mills. Others expect steeper increases, even if it risks inviting imports.

Washington added long steel producer Antillana de Acero and state-owned mining company Geominera to its list of sanctioned companies in Cuba.

“Ohio Strip Steel reflects who we are today and where we’re going,” the Dover, Ohio-based company said.

During Worthington Steel’s fiscal fourth-quarter earnings call on June 25, company executives cited interest rates as a market headwind.

Participants in the domestic plate market anticipate incoming price notifications before the end of the month, SMU learned in recent conversations. 

During its upcoming contract negotiations with U.S. Steel (USS), the United Steelworkers (USW) labor union will address wages, retirement, contracting out, health & safety, training, and job security.  

Leeco Steel has announced changes to two regional operational manager positions.

Nucor announced on Monday, June 22, that its consumer spot price (CSP) for hot-rolled coil will be $1,130 per short ton for the week, up $5/st from last week. 

As the US enters negotiations and possible annual reviews of the USMCA, policymakers should preserve the S232 tariffs, which have clearly been necessary to protect the US steel industry.

South Korea has overtaken Canada as the top foreign supplier of steel to the US market.

Hot-rolled coil market participants report little disruption to their contact volumes, finding timely spot HR proved less straightforward, some sources told SMU. 

Some domestic plate market participants recently voiced concerns that current market conditions will impact fabrication and manufacturing, which rely on steady product supply.   

“The issue we heard most about is healthcare. You were loud and clear at every location and in the surveys that maintaining our healthcare benefits is a top issue," the USW said.

SMU’s Steel Demand Index ticked back up from late May, remaining in elevated territory, according to mid-June indicators.

May was the fifth consecutive month of expansion for the US manufacturing sector, according to the most recent Institute for Supply Management (ISM) report.