
Steel buyers ignore tariff noise amid slow summer market
Section 232 tariffs have doubled to 50%. Reciprocal tariffs rates remain uncertain. But while prices have softened on even softer sentiment, tariffs have firmed the floor.
Section 232 tariffs have doubled to 50%. Reciprocal tariffs rates remain uncertain. But while prices have softened on even softer sentiment, tariffs have firmed the floor.
US housing starts recovered slightly in June after reaching a five-year low the month prior, according to figures recently released by the US Census Bureau.
Tariff threats on Brazil aren’t just hitting steel products. Aluminum is also feeling the heat.
Cold-rolled (CR) coil prices continued to tick lower in the US this week, with a similar trend seen in offshore markets.
Chinese steel export prices are expected to rise and support prices across most of Asia in the coming month. In Europe, buyers are likely to frontload import orders ahead of CBAM imposition, while new trade agreements are likely to emerge in the US. Steel prices in the APAC are expected to rise, except in India […]
We have a special addition to the agenda of this year’s SMU Steel Summit that I’m excited to announce today. U.S. Steel President and CEO David Burritt will speak on the opening day of the Summit about the partnership between the iconic Pittsburgh-based steelmaker and Nippon Steel.
Not much to report on from the sleepy HRC futures market in the thick of the summer doldrums with trading volume nearly grinding to a halt.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.
Canadian Prime Minister Mark Carney has announced new measures to limit steel imports into the country.
All districts reported “experiencing modest to pronounced input cost pressures related to tariffs, especially for raw materials used in manufacturing and construction.”
Stateside prices continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.
The Canada Border Services Agency has terminated a self-initiated dumping investigation of corrosion-resistant steel sheet (CORE) from Turkey.
Evraz NA and Welded Tube of Canada have lodged an unfair trade complaint against imports of OCTG, including those from USMCA trading partners Mexico and the US.
Divergent opinions emerge on August’s scrap outlook.
The volume of finished steel entering the US market remained elevated in May, in line with April figures, according to SMU’s analysis of Department of Commerce and American Iron and Steel Institute (AISI) data
Flat rolled = 55.8 shipping days of supply Plate = 59.4 shipping days of supply Flat rolled US service centers’ flat-rolled steel supply edged down in June with a modest boost to shipments month on month (m/m). At the end of June, US service centers carried 55.8 shipping days of flat roll supply, down from […]
Algoma Steel expects a narrower sequential loss in the second quarter, but the company continues to be impacted by the US tariff situation.
Is outer space steel’s final frontier?
US sheet and plate prices were flat or lower as reduced import volumes were offset by so-so demand.
US steel exports rose 10% from April to May but remained low compared to recent years. This came just one month after exports fell to the lowest level recorded in nearly five years.
Turkish scrap prices were unchanged week over week (w/w), with HMS and Shredded grades assessed at $340 and $355 per metric ton (mt) CFR, respectively.
Now that it has acquired U.S. Steel, Nippon Steel is planning a significant expansion of its US operations, including the construction of a new mill and more than doubling its steel output.
Business activity in New York state recovered slightly in July, with the Empire State Manufacturing Index seeing its first positive reading in four months.
President Trump’s threatened tariffs on Brazil, USMCA partners, and Europe could shake up the scrap and pig iron markets in August.
The volume of raw steel produced by US mills inched higher last week, according to the American Iron and Steel Institute (AISI). After steadily increasing in April and May, domestic mill output stabilized in early June and has remained historically strong since.
Nucor is holding its list price for spot hot-rolled coil at $910 per short ton (st), unchanged since June 30.
President Trump’s tariff policies have a lot more in common with a roundabout than you’d think.
Mining metals analyst Timna Tanners has joined Wells Fargo as managing director of equity research, according to a post on her LinkedIn profile.
A roundup of steel industry news that happened this week, as reported by Steel Market Update.
Trade issues do not seem poised to leave the headlines anytime soon. And as recent developments show, the administration’s tariff policy remains ever-changing.