Contributor: Ethan Bernard

SMU’s Steel Buyers’ Sentiment Indices edged down this week, according to our most recent survey data.

The Chicago Business Barometer increased in May after easing the two previous months.

Someone emailed me today to ask the likelihood that Section 232 steel tariffs on Canada and Mexico would be reduced. Unfortunately, that’s way above my paygrade. However, it does highlight a great reason to attend Steel Summit 2026 in August.

All regulatory conditions for Worthington Steel's acquisition of Germany-based service group Kloeckner have been met, a spokeswoman told SMU on Wednesday.

The Office of the US Trade Representative (USTR) has announced that the United States and Mexico will be having a series of bilateral negotiating rounds related to the joint review of the US Mexico Canada Agreement (USMCA).

US raw steel production slipped last week, falling from a multi-year high the previous week, according to the most recent American Iron and Steel Institute (AISI) data.

Worthington Steel said on Tuesday its subsidiary plans to raise $900 million through a senior secured notes offering to raise funds for the company’s proposed Kloeckner acquisition.

The US and Canadian rig counts both increased this week, according to the latest data from Baker Hughes.

This long weekend, we pay tribute to the sacrifices of the men and women of the US armed forces.

Steel trade groups have come out in support of the Building Unrivaled Infrastructure and Long-term Development for America's 250th Act (BUILD America 250 Act)

We look at how SMU survey respondents are seeing the effects of Trump's tariffs and the Iran war on business.

Nucor Plate Group will maintain its previously announced fuel surcharge of $10 per short ton for next month, effective on all shipments beginning June 1.

Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil to $1,090 per short ton, up $10/st from last week.

The spread between domestic hot-rolled coil and prime scrap prices continued to widen in May, a trend that began in September.

India-based JSW Steel’s combined US operations swung to a slight profit in its fiscal fourth quarter of 2026.

Algoma CEO forges new path against tariff headwinds

US scrap prices were mostly flat in May, with some upside on prime scrap, sources told SMU.

Algoma Steel's loss widened in the first quarter as tariffs and the EAF transition impacted its bottom line.

What might be in store for the ferrous scrap market this summer?

American Axle (Dauch Corp.) workers in Three Rivers, Mich., have voted to authorize a strike.

CFC Recycling has acquired Goolsby & Sons Recycling, a family-owned scrap and recycler in Gallatin, Tenn.

On Monday, Nucor hiked its spot HR price by $10/ton.

The May scrap market in the US seems to be just finishing up its settle as of the writing of this article. Luckily, we have our latest ferrous scrap market survey to give us an insight before we release our prices article next week.

SMU’s Current and Future Sentiment Indices for scrap both fell in May, though they remain at elevated levels, according to the latest data from our ferrous scrap survey.

South Korea’s Hyundai and POSCO have chosen Italian mill equipment provider Danieli to build several installations at their proposed steel mill in Louisiana.

Ryerson swung to a profit in the first quarter as it began the integration of Cleveland-based service center chain Olympic Steel.

Ternium SA’s profits more than doubled in the first quarter as work continues to advance at its industrial center in Pesqueria, Mexico.

Southeast Recycling Group (SRG) said it will acquire the assets of NuCycle LLC, including an automobile shredder and auto parts yard (Carolina Salvage) in Rock Hill, S.C.

Russel Metals’ earnings jumped in the first quarter as it reported record quarterly shipments and revenue.

AISI, SMA, and the Canadian Steel Producers Association will each publish a monthly column in the lead-up to the USMCA periodic review.