President Joe Biden announced that the US will extend the suspension of Section 232 tariffs on steel products imported from Ukraine for another year. The Biden administration first lifted the 25% Section 232 tariffs on steel imports from Ukraine after the breakout of war with Russia in 2022. The initial waiver was good for one […]
We’re just a few months away from SMU’s Steel Summit 2024 – North America’s premier flat-rolled steel conference.
S drill rig activity held steady last week, remaining near two-year lows according to the latest update from Baker Hughes
Steel sheet prices across most regions of the world were little changed this week. European buyers remain cautious regarding their outlook towards end-use demand and largely remained out of the market. A similar trend was seen across Asia, although skepticism on real estate stimulus measures in China led to w/w price falls. In the US, […]
We have highlighted a few significant moment in steel history in our last few Final Thoughts crosswords. This week we decided to dedicate the entire crossword to history.
Sheet prices slipped again this week on a combination of moderate demand, increased imports, and higher import volumes.
Let's take a collective deep breath ::in:: and ::out::... And we're back. But where exactly are we? Are steel prices going up or down? Is demand really decelerating or is it an illusion? How is the market navigating the new mill pricing mechanisms?
Prices for galvanized products have fallen from last month, and many market participants expect tags to continue their descent or at best remain flat in the month ahead.
Nucor’s Consumer Spot Price (CSP), a legitimate mill offer price, is a potential disruptor to North American steel sheet commercial and procurement strategies. We will dive into the details of what we think the CSP is and why we believe it is a potential disruption to how the North American sheet market operates.
US drill rig activity eased further last week, receding to levels last seen at the start of 2022 according to the latest update from Baker Hughes
Steel Market Update’s Steel Demand Index fell five points to a 12-month low and moving further into contraction territory, according to our latest survey data.
Lead times on most steel products tracked by SMU held steady or contracted this week compared to two weeks earlier, according to our latest market survey.
From integrated to EAF, from hot-dipped galv to cold-rolled sheet, to the reputable vacuum tank degasser, the steel industry definitely has its own jargon. And we know our readers know that lingo backwards and forwards. Rather than test you on it, we thought we'd do something different.
Steel prices eased for both sheet and plate products this week, according to our latest canvass of the market
The CRU US Midwest hot-rolled (HR) coil index is a dominant and established price benchmark in the US. Many steel-buying contracts are linked to ‘the CRU,’ as it’s commonly called. But how does it work?
Nucor upped its published consumer spot price (CSP) this week.
Drilling activity ticked up in the US but declined in Canada during the week ended May 17, according to the latest release from Baker Hughes.
The recent decline in US hot-rolled (HR) coil and longs prices has further restricted demand for imported material. Despite the decline in US sheet prices, CR coil and HDG imports remain attractive. While demand for imports of longs products has been limited, buyers have increased imports of wire products to avoid wire rods’ higher tariffs. […]
Mexican steelmaker Talleres y Aceros (TYASA) broke ground this month on the construction of a new special bar quality (SBQ) rolling mill in the state of Veracruz.
Veteran StoneX futures broker Spencer Johnson will be the featured speaker on the next SMU Community Chat on Wednesday, May 29, at 11 am ET. You can register here. Note that the live webinar is free for all to attend. A recording will be available only to SMU members.
SMU surveyed our market contacts this week about steel prices, demand, and the overall marketplace. Below are some of the buyers' responses in their own words to help you get a feel for current and future market conditions. Demand is a big topic of discussion currently. Is it steady, falling, or on the upswing with summer construction heating up? As you can see from the answers below, it depends on who you ask. One buyer’s response sums it up pretty well: “I still see the marketplace as soft/stable with some segments busy, while others tread water.”
Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact info@steelmarketupdate.com. Flat Rolled = 57.8 shipping days of supply Plate = 58.3 shipping days of supply Flat Rolled US service center flat-rolled steel supply edged lower in April, though shipments continue to […]
Steel prices were overall mixed this week, according to our latest check on the market. Sheet prices were flat to down, while plate prices inched up. SMU indices on hot rolled, cold rolled, and galvanized are now down to the lowest levels seen since November.
Prices for hot-rolled (HR) coil in recent weeks have been declining faster than those for galvanized sheet, resulting in a growing price spread between the two steel products.
Wolfe Research Managing Director Timna Tanners cautioned clients about the darkening clouds of a brewing steel sheet storm in the company's Basic Materials Weekly Webcast on Monday. “This one we’ve been talking about for a while, and we feel like the theme is coalescing here,” she said.
Nucor chose to hold its consumer spot price (CSP) for hot-rolled (HR) coil steady this week after stunning the market last week with a significant price decline. The steelmaker said in a letter to customers on Monday morning that its $760-per-short-ton (st) CSP base price for HR coil is effective immediately. The price is unchanged from the CSP announced on May 6 but down $65/st from $825/st April 29.
What's the tea in the steel industry this week? Here's the latest SMU gossip column! Just kidding... kind of. Yes, some of the comments we receive in our weekly flat-rolled market steel buyers' survey are honestly too much to put into print. Some make us laugh. Some make us cringe. Some are cryptic. Most are serious. We appreciate them all. Below are some highlights from our survey results this week. Some of the comments that we can share with you are also included, in italics, in the buyers' own words, with minimal editing on our part.
The Mexican federal government backed down on the application of tariffs on raw non-alloyed and alloyed aluminum decreed on April 22.
A vote on Friday by the International Trade Commission (ITC) ensures that antidumping duties on certain steel sheet imports from Japan will continue for the mid-term.
Steel Market Update’s Steel Demand Index fell eight points, and back into contraction territory, an indication demand might be slipping as prices have trended lower, according to our latest survey data.