Tag: US

Members of the United Steelworkers (USW) Local 1123 labor union voted against ratifying a second proposed deal with Metallus on Dec. 18.

The number of oil and gas rigs operating in the US ticked higher this week, while Canadian activity tumbled, according to the latest data released from Baker Hughes.

The total amount of raw steel produced around the world slipped 3% from October to an estimated 140.1 million metric tons (mt) in November, according to World Steel Association (worldsteel) data. This marks the lowest monthly production rate since December 2023.

Nucor raised its weekly hot-rolled coil spot list price by $10 per short ton (st) this week, marking the company's ninth consecutive increase.

Following August’s modest 4% uptick, the volume of steel shipped outside of the country slipped 8% in September to 594,000 short tons, according to recently released data from the US Department of Commerce.

NEMO Industries CEO Daniel Liss has already made waves with his bold plan to bring pig iron production back to US soil. In an SMU Community Chat on Wednesday, he shifted the conversation from inspiration to execution, laying out timelines, financing strategies, and customer demand that could reshape the steel supply chain by the end of the decade.

The Pennsylvania Commonwealth Court has sided with Wheatland Tube, a Zekelman Industries company, in a landmark trade ruling that bars public agencies and contractors in the state from using Mexican-made steel conduit in state-funded projects.

The Coalition for a Prosperous America (CPA) is urging the Trump administration to keep Section 232 steel and aluminum measures focused on rebuilding US capacity, rather than using them as bargaining chips in unrelated negotiations.

Nucor has promoted Stephen D. Laxton, currently CFO and EVP, to president and COO, effective Jan. 1.

Lock Joint Tube has acquired the Tectron mechanical tube product line and associated manufacturing facility in De Pere, Wisc., from Atkore Inc.

Deere & Company's latest earnings report put a spotlight on the mounting costs of tariffs across the agricultural and heavy machinery sectors.

The Institute for Supply Management’s (ISM) latest report reflects the dim market conditions reported by US manufacturing executives in November. 

US and Canadian rig counts both declined this week, according to the latest Baker Hughes data released on Wednesday, Nov. 26.

General Motors (GM) is planning a ~$250 million investment to upgrade its Parma Metal Center. The outlay is part of GM's plans to invest ~$4 billion in its US-based manufacturing operations over the next two years. Its 2025 reshoring commitments currently total over $5 billion.

Following four consecutive monthly declines, world crude steel output recovered 1% from September to October to an estimated 143.3 million metric tons (mt), according to the World Steel Association (worldsteel).

SMU’s price indices increased across the board this week, reaching new multi-month highs.

The latest Baker Hughes rig count report showed oil and gas drilling improved in the US this past week, while Canada saw its rig count decline.

ArcelorMittal sees green shoots in North America despite tepid demand.

Flat-rolled metals processor and pipe manufacturer Friedman Industries achieved record sales volume in its fiscal second quarter.

Russel Metals posted mixed financial results in its third-quarter earnings report. The Mississauga, Ontario-based metals processing and distribution company generated Canadian $35 million (US$53.5 million) in net income for Q3'25, representing a 1.4% increase from the same quarter in 2024.

North America continues to anchor Klöckner & Co.’s performance in 2025. The Kloeckner Metals Americas segment delivered robust earnings in the third quarter despite softer steel prices.

The Dodge Momentum Index (DMI) fell more than 7% in October, sliding for the first time in six months. Still, the index is up 35% year-to-date, according to the latest data released by Dodge Construction Network.

The latest Baker Hughes rig count report showed oil and gas drilling improved in both the US and Canada in the first week of November.

Nippon Steel is positioning U.S. Steel as a cornerstone of its global growth strategy, highlighting the US as the most developed and demand-rich market, especially for premium steel products used in the automotive, energy, and infrastructure sectors.

SMU’s November 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 […]

U.S. Steel has unveiled more details of a multi-year growth plan in partnership with Nippon Steel.

Shipments from US steel mills were strong in September, according to the latest figures provided by the American Iron and Steel Institute (AISI).

Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet and plate products than they were in recent weeks.

Ternium closed the third quarter with steady shipments and improving margins. But trade policy uncertainty and subdued demand in Mexico weighed on the Latin American steelmaker’s results.

North American auto assemblies declined in September, down 5.1% vs. August. And assemblies were also down 1% year on year.