Tag: steel

Both of our Sentiment Indices remain in positive territory and indicate that steel buyers are optimistic about the success of their businesses.

Steel buyers of sheet and plate products say mills are still willing to bend on spot pricing this week, though not quite as much as they were two weeks prior, according to our most recent survey data.

We have seen very little change in sheet and plate prices across the past month.

In 2024, volatility with a capital “V” has been the rule. That will remain high heading into 2025.

Referred to as ‘apparent steel supply’, we calculate this volume by combining domestic steel mill shipments with finished US steel imports and deducting total US steel exports.

“There’s no sugar coating it – 2024 has been a challenging year,” the economist for ITR said.

Green & Clean Power will supply electricity to Hybar’s mill that is due to begin operations next summer.

On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

Steel prices have remained relatively stable in recent weeks, though they have generally trended downward since October.

Monthly imports have remained within a relatively narrow range since June, significantly lower than volumes seen earlier this year, but stronger than late-2023 levels.

Since sharply falling in September and October, weekly production has marginally trended higher for the past two months, but remains significantly low compared to levels recorded earlier this year

Vedoya said the proposed tariffs are "an irrational measure that would harm both their own industry and ours."

Transition to a new administration is always uncertain. This one is more uncertain than most.

Production times are marginally higher than those seen in recent weeks, now closer to levels witnessed throughout October.

This week, the spread between SMU's hot rolled and galvanized indices is only a few dollars away from a 16-month low.

Steel sheet prices remain at or near multi-month lows, while plate prices continue edging lower from their mid-2022 peak.

SMU’s Monthly Review provides a summary of important steel market metrics for the previous month. Our latest report includes data updated through November 30th.

The move comes less than two months after Tavares announced that he would step down in early 2026.

“We are under constant threat from nonmarket economies who evade our trade laws," SMA said.

ITR economist Tyler St. Germain will join SMU for a Community Chat on Dec. 11 at 11 am ET. You can register here. The live webinar is free for all to attend. A recording will be available only to SMU members. We'll discuss the 2025-26 outlook for both the overall economy and also for manufacturing. We’ll in addition discuss how Trump administration policies when it comes to tariffs and immigration might impact the steel sector and key end use markets.

SMU's price indices saw minor fluctuations on sheet products this week, while our plate and Galvalume indices held steady.

On Monday, Nucor published new extras effective Jan, 4, 2025.

Contractors Steel was acquired in 2018 by UPG, a private equity firm with a portfolio of metals and logistics companies

The distributor and service center is opening a 250,000-square-foot facility in Canton, Mich.

Following months of fluctuations, SMU’s Steel Buyers’ Sentiment Indices rebounded this week, now at multi-month highs. Both of our Indices remain in positive territory and indicate that steel buyers are optimistic about the success of their businesses.

Trademark Metals Recycling opened an advanced metal recovery facility in Bushnell, Fla.

Most steel buyers SMU polled this week reported that mills remain willing to negotiate new order pricing.

Now that the dust has settled from the US election, as have the immediate reactions in the equity, bond, and commodity markets, this is a prime opportunity to look at how a second Trump presidency might affect the US steel market.

So far, nearly $570 billion in funding has been announced for over 66,000 projects and awards.

SMU’s flat-rolled steel prices were mixed this week with slight declines across most products and a modest increase in prices for cold-rolled coil.