Input costs have been driven higher by tighter supplies and restricted flows after a tough winter. Could rising demand from mills fuel an extended rally into Q2?
Shredder feed has been strained as shredders try to fill backlogs. And shredded prices could jump by $50 per gross ton (gt) this month, some suggest.
It’s a similar story with prime grades. That’s because industrial generation is down, and hot-rolled coil production is picking up.
The main impact of tariffs on scrap prices would be felt in Northern states – and especially among those along the Canadian border. Many steelmakers in this area receive a substantial portion of their monthly scrap charge from Canadian processors. Much of it is prime scrap used by hot-rolled (HR) coil producers.
While Congress has given the president enormous power over trade policy, the president wants to test the limits of that authority. If there are no guardrails, our economic and political liberty may be on the block. Stay tuned.
The demise of the VAT rebate system in China might be the most tangible sign that Beijing realizes that its unbridled access to global markets is over. There was no point in continuing a system of financial incentives to the export sector when the tariff headwinds were getting stronger.
Worthington Steel confirmed it is closing the Worthington Samuel Coil Processing (WSCP) facility in Cleveland.
WSCP is a joint venture between Worthington Steel and Oakville, Ontario-based Samuel, Son & Co.
The investment firm seeking to oust U.S. Steel’s leadership has asked the steelmaker to schedule its annual shareholder meeting after June 18. That’s the deadline set by the US government for USS and Nippon Steel to unwind their nearly $15-billion merger deal. Ancora Holdings Group sent a letter dated Feb. 27 to board members of […]
US plate prices have moved up at a sharp clip over the past three weeks. The gains come on the heels of a unified mill pricing blitz, bolstered by the threat of looming tariffs and the expectation of sharply higher scrap prices. Prices hit their lowest level in more than four years in late January, […]
“We experienced an event at the blast furnace which required a controlled shut down to facilitate repairs,” a spokesperson said.
US rig counts remain just above multi-year lows, while Canadian activity is within earshot of a seven-year high.
The Chicago Business Barometer rose to an eight-month high in February. Despite the recovery, the measure continues to indicate deteriorating business conditions, as it has for over a year.
Increased protectionism is expected to continue to drive up steel prices in the US and Europe.
The price spread between stateside-produced CR and imports reached its widest margin in over a year.
The metal roofing manufacturer is launching Fabral Solar to integrate solar technology within commercial, residential, and agricultural structures.
That’s not to say Section 232 shouldn’t be tightened up. Or that certain trade practices – even among our traditional allies – weren’t problematic. But when it comes to the reboot of Section 232, I do wonder whether there will be some unintended consequences.
Four weeks have passed since the last article from Rock Trading Advisors on January 30. The paint has dried, and Midwest HRC futures have exploded higher in response to President Trump’s declaration of impending 25% tariffs on all imported steel products.
The rolling 2nd month CME Midwest HRC future erupted through the top end of its downtrend, one that dates back to the peak of the winter 2022 rally. It also broke out of its narrow range seen dating back to June of last year.
Global crude steel output rose 5% from December to January but still lagged last year.
Hot-rolled (HR) coil prices continued to rally in the US this week, quickly outpacing price gains seen abroad. The result: US hot band prices have grown widely more expensive than imports on a landed basis. The premium US HR tags carry over HR prices abroad now stands at a 14-month high. SMU’s average domestic HR […]
The building in Braddock, Pa. that houses the basic oxygen process equipment suffered “minor damage” on Feb. 23, a spokesperson said.
On Thursday morning, Trump posted on Truth Social about Canada and Mexico: “the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled.”
New orders gained 3.1%, reaching $286.0 billion, according to the US Census Bureau.
The Leveling the Playing Field Act 2.0 has been reintroduced into both houses of Congress
North American auto assemblies recovered in January, surging 33.4% above December and rebounding from a three-year low. However, according to LMC Automotive data, assemblies were still 0.1% lower year on year (y/y). After slumping in December to the lowest total since July 2021, January’s assemblies returned to typical seasonal levels. Sentiment remains tempered as carmakers […]
Prices for six of the seven steelmaking raw materials SMU tracks are increased from January to February, according to our latest analysis.
Nearly 99% of ILA members voted in favor of a new labor deal with the United States Maritime Alliance that covers workers at ports on the Atlantic and Gulf coasts.
US light-vehicle (LV) sales slowed to an unadjusted 1.11 million units in January, a sharp cut of over 25% from December but still 3.8% above year-ago totals, according to US Bureau of Economic Analysis data. On an annualized basis, LV sales were 15.6 million units in January, down from 16.9 million units the month prior […]
President Trump has directed Commerce Secretary Howard Lutnick to investigate copper imports into the US under Section 232 of the Trade Expansion Act of 1962 on national security grounds.
One buyer summed up the prevailing sentiment: “Everything is pointing up — pricing, sentiment, order activity. But the real test will come once the immediate reactionary buying subsides. Will there be enough true demand to support these levels through mid-year? That’s the big unknown.”
It won’t be so easy to restart idled aluminum production in the US, AMU says.
President Donald Trump indicated in a cabinet meeting Wednesday that a 25% blanket tariff on all imports is coming for the EU next.
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