Contributor: Ethan Bernard

Mexico has said it will place retaliatory steel tariffs on the United States if the US acts to reimpose Section 232 on its neighbor, according to an article in Reuters.

Metalformers expressed increased optimism about business activity this month, according to the February 2024 Precision Metalforming Association (PMA) Business Conditions Report.

The United Auto Workers (UAW) union said that over 50% of workers at Mercedes-Benz’s plant in Vance, Ala., “have signed union cards in support of joining the UAW.”  

The United Steelworkers union expressed a lack of trust in assurances from Japan’s Nippon Steel Corp. (NSC) regarding its proposed buy of U.S. Steel.

The United Auto Workers (UAW) executive board has voted to start a new “solidarity project” to support auto workers in Mexico.

Olympic Steel said it's open to future acquisitions in all three of its business segments.

The US already had strict regulations on air-quality standards for particulate matter, but they are going to get even tighter.

Olympic Steel’s earnings jumped in the fourth quarter, even as the company dealt with "significant" price volatility in hot rolled for full-year 2023.

Ryerson swung to a net profit in the fourth quarter, though revenue declined from the same period last year.

Canadian steelmaker Stelco swung to a loss in the fourth quarter as revenue declined due to decreased shipping volume and average selling prices.

A United Auto Workers (UAW) local has reached a tentative agreement with Ford, avoiding a strike at the automaker’s Kentucky Truck Plant (KTP).

Latin American steelmaker Ternium posted a strong uptick in earnings in its fourth quarter, and sees increasing steel demand growth in Mexico.

US housing starts fell for the second consecutive month in January, according to the most recent data from the US Census Bureau.

A coalition of climate and industrial organizations has launched a 'Race to Green Steel' campaign.

Approximately 9,000 United Auto Workers (UAW) members at Ford’s Kentucky Truck Plant said they will strike on Friday, Feb.. 23, if local contract issues are not resolved.

SMU’s Current Steel Buyers’ Sentiment Index was flat this week, while the Future Sentiment Index slipped, according to our most recent survey data.

The spread between hot-rolled coil (HRC) and prime scrap prices narrowed further this month, according to SMU’s most recent pricing data.

Friedman Industries posted lower earnings in its fiscal third quarter but was upbeat on the next quarter due to the effect of increased hot-rolled coil prices.

The percentage of sheet buyers finding mills willing to negotiate spot pricing rose or remained relatively flat on the products SMU surveys, while plate slumped, according to our most recent survey data.

Prices for galvanized products have been falling for more than a month, and market participants expect this trend to continue in the near term.

US busheling scrap prices fell this month, while HMS and shredded grades remained largely unchanged.

What’s something going on in the market that no one is talking about? That’s a question on our survey, and was also posed to many who graced the stage at our Tampa Steel Conference. Perhaps another way to phrase that is “not talking about publicly” or connecting the dots of steel market chatter to find a uniting central issue. I thought one respondent to our survey really summed up the current moment: “Right now it is all politics.”

The US Environmental Protection has announced more stringent air quality standards that could impact domestic steel producers.

What are folks in the steel industry talking about? SMU polled steel buyers on a variety of subjects this past week, including domestic steel prices, import offers, buying activity, and more. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words.

Domestic steel shipments increased in December on-year but were down from the previous month, according to the latest data released by the American Iron and Steel Institute (AISI).

Algoma Steel reported a wider loss in its fiscal third quarter amid lingering impact from the United Auto Workers (UAW) strike and “heavy seasonal maintenance.” Additionally, the Canadian steelmaker said it has completed repairs at it blast furnace and “restored partial coke-making capabilities” after a previously reported incident on Jan. 20.

The recession many predicted did not materialize in 2023, leading industry experts in several key end-user markets for steel cautiously optimistic for 2024.

Former President Donald Trump discussed, if re-elected, placing a 60%-or-more tariff on all Chinese imports in an interview with Fox News on Sunday.

The head of SSAB Americas talked the company's commitment to Swedish parent SSAB’s mission statement of sustainability at the Tampa Steel Conference 2024.

SMU’s Current Steel Buyers Sentiment Index edged down this week, while the Future Sentiment Index remained flat, according to our most recent survey data.