Algoma swings to loss on 'market challenges' and 'tariff uncertainties'
Canada’s Algoma Steel swung to a loss in the first quarter amid "market challenges," and the company now expects first steel production from its first EAF in the second quarter.
Contributor: Ethan Bernard
Ethan Bernard
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Nucor's Topalian lauds Trump's trade policies, downplays impact
Nucor’s top exec Leon Topalian said the benefit of the current administration’s aggressive trade policies “trumps” any risk of potentially higher raw materials prices.
Nucor earnings slump in first quarter, but better times seen ahead
Nucor’s profits fell precipitously in the first quarter, but the company has a rosier outlook for the following quarter.
Worthington Steel set to move HQ across town
Worthington Steel is preparing to move its corporate headquarters to the Easton area of Columbus, Ohio.
SMU Steel Summit 2025: A vibe you won't want to miss
SMU Steel Summit 2025 will be here before you know it. Be sure to register!
Nucor names Batterbee, Bledsoe to HR roles
Nucor Corp. has promoted Thomas J. Batterbee to the position EVP of human resources and talent and appointed Elizabeth Bledsoe to the newly created position of president of human resources and talent.
GrafTech loss widens in first quarter amid 'global economic uncertainty'
GrafTech International reported a wider net loss in the first quarter amid “global economic uncertainty” and “fluid” global trade policies.
Millett sees tariffs, CORE case benefiting SDI
Steel Dynamics' top exec thinks Trump’s tariff policies, as well as the results from the recent CORE case, will prove advantageous to the Fort Wayne, Ind.-based steelmaker and aluminum company.
North American Stainless names Grannum as CEO
The US subsidiary of the Acerinox Group has named Clive Grannum as their new CEO.
AZZ sees tariffs boosting demand for US-made coating solutions
Coil coater AZZ Inc. sees President Trump’s aggressive trade policy stoking demand for coating solutions for steel and aluminum made in the US.
Final Thoughts
I put some of our survey data through ChatGpt, with interesting results.
SDI's Q1 earnings slump on-year, but up sequentially
SDI earnings slip in first quarter year over year, but are up sequentially.
AZZ Inc.'s earnings rise, but sales dip on weather woes
AZZ Inc. posted higher earnings in its fiscal fourth quarter, but sales slipped on weather disruptions.
POSCO inks MoU with Hyundai on Louisiana EAF mill
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.
Final Thoughts
Nearly 50% of respondents to our latest survey thought hot-rolled coil prices have already peaked. And where will those prices be two months from now? Responses were decidedly split on that question.
Holiday Notice: Easter
Steel Market Update will be taking time off in observance of Good Friday and Easter.
SMU Survey: Buyers' Sentiment Indices fall
Current Sentiment Index dropped six points to +42 this week compared to two weeks earlier. It has fallen in every successive survey since reaching a 2025 high of +66 on Feb. 19.
AISI announces publication of environmental rules for N. American steel construction products
The American Iron and Steel Institute (AISI) has announced the publication of the third version of the Product Category Rules (PCR) for North American Steel Construction Products.
POSCO mulls teaming up with Hyundai on Louisiana mill
South Korea’s POSCO is eyeing linking up with Hyundai Steel in the project to build a steel plant in Louisiana, according to media reports.
Olympic taps Hegler for GM role at Action Stainless
Olympic Steel has named Alex Hegler as general manager for its Action Stainless facility in Rock Hill, S.C.
Final Thoughts
What happens when ChatGPT meets SMU's Market Chatter? No, this is not an idea for the latest Hollywood blockbuster. Then again, with what Hollywood is putting out these days, Chatter Meets Chat might just turn out to be a hit. Rather, it’s that old idea of putting theory into practice. Recently, I conducted an interview with Doug Schrock, managing principal of AI at public accounting and consulting firm Crowe. He gave some tips on how to implement AI into your business.
Trump signs executive order aimed at making US shipbuilding 'great again'
President Trump on Wednesday signed an executive order meant to breathe new life into American shipbuilding and curb Chinese dominance in the sector.
HRC, prime scrap spread narrows in April
The price spread between hot-rolled coil (HRC) and prime scrap narrowed in April after widening since January, according to SMU’s most recent pricing data.
US scrap tags drop in April as tariff fog continues
US scrap prices declined in April for all the grades tracked by SMU amid tariff uncertainty, according to market sources.
Trump still against selling USS to Japanese firm: Report
Despite ordering a new review of Nippon Steel’s bid for U.S. Steel, President Trump said he is still against selling USS to a Japanese company, according to media reports.
Ancora abandons plan to take over leadership of USS
Investment firm Ancora Holdings Group has halted its play for U.S. Steel's board, citing Nippon Steel’s proposed bid for USS “gaining momentum.”
Ancora says plan for USS would yield higher value than Nippon deal
Ancora’s intention to replace U.S. Steel's leadership was first announced in late January.
Trump orders new CFIUS review for USS
President Trump has ordered a new review of Nippon Steel’s proposed buy of U.S. Steel, to be completed within 45 days.
Scrap market chatter this month
Scrap buyers sound off on prices, demand, etc., in SMU's monthly scrap survey.
Final Thoughts
Who could’ve guessed that the first stage to follow liberation would be confusion. Well, when things get this liberated this fast, perhaps it’s to be expected. From the 30,000-foot view, “Liberation Day” didn’t have a significant impact on steel tariff-wise. That is, the Section 232 steel and aluminum tariffs stand alone from the reciprocal tariffs […]