Tag: US

The rig count declined for the 10th consecutive week in the US, while Canadian count rose for the fifth straight week, according to Baker Hughes.

Atlas Holdings said it has signed a definitive agreement to acquire Evraz North America (Evraz NA). The Greenwich, Conn.-based private equity firm said it expects the deal for the Chicago-based steelmaker to close in the second quarter of 2025 subject to various closing condition.

Freight rates have risen $30-$50 on transatlantic cargoes, depending on the final destination.

The US steel industry is edging closer to independence from imports, and it may only take one more mill to tip the scales, according to Timna Tanners, managing director at Wolfe Research.

SMU’s ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “ferrous scrap survey” results. Past flat-rolled survey results are also available under that selection. If you need help accessing the survey results, […]

If we review the price trends for the last two years, we can see this year’s pattern following a similar path.

Following eight consecutive weeks of declines, sheet and plate prices saw some upward movement this week in the wake of last Friday’s Section 232 tariff increase announcement. Gains varied by product.

We’re just 88 days out from North America’s largest gathering of the flat-rolled steel industry.

Steel Market Update will be taking time off in observance of Memorial Day.

Global raw steel production dipped from March to April, according to the latest release from the World Steel Association.

For the third month in a row, architecture firms reported a reduction in billings through April, according to the latest Architecture Billings Index release.

An analysis of the North American energy market in May.

Manufacturing activity in New York state declined for the third consecutive month, according to the May Empire State Manufacturing Survey from the Federal Reserve Bank of New York. Responding firms continue to forecast weaker business conditions in the coming months.

Sheet and plate lead times declined across the board this week, according to buyers responding to the latest SMU market survey. While our lead time ranges were unchanged compared to mid-April levels, average production times for each steel product we measure have declined from they were two weeks ago.

Oil and gas drilling activity declined again this week in the US and Canada, according to Baker Hughes.

SMU polled steel buyers on an array of topics earlier this week, including market prices and demand, tariffs and reshoring, inventories and imports, and evolving market trends.

Oil and gas drilling activity was mixed this week, according to Baker Hughes. US rig counts expanded for a second straight week, while Canadian activity continued its seasonal slowdown of eight consecutive weeks.

Global raw steel production increased in March, according to the latest figures released by the World Steel Association (worldsteel).

After a hard drop in December — the worst since July 2021 — assembly numbers have climbed three months in a row. Sentiment remains tempered, though.

The company cited uncertainty about freight rates and demand, regulatory changes and the impact of tariffs.

Oil and gas drilling activity eased for the third consecutive week in both the US and Canada this week, according to Baker Hughes. US rig counts remain just above multi-year lows, while Canadian activity continues its seasonal slowdown.

Have we hit a bit of a lull when it comes to the recent price bump? Mills certainly capitalized on the threat of tariffs and the unknown, with much that still could unfold.

After slumping in December to the lowest total since July 2021, February assemblies further expanded on January’s growth.

US light-vehicle (LV) sales increased to an unadjusted 1.22 million units in February, a 9.9% gain over January but 0.7% behind year-ago totals, according to US Bureau of Economic Analysis data.

Flat rolled = 58.6 shipping days of supply Plate = 49 shipping days of supply Flat rolled With the rapid run up in prices, US service centers saw a significant pickup in orders that caused flat-rolled steel supply to decline in February. At the end of February, service centers carried 58.6 shipping days of flat-rolled […]

The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]

US steel exports recovered to a five-month high in January after having fallen to a two-year low in December. This growth follows four consecutive months of declining exports.

Steel imports ended 2024 on a low note, with November trade falling to a one-year low and December seeing a modest 3% recovery. Then as the new year began, import volumes spiked.

SMU’s Buyers’ Sentiment Indices both declined this week but remain strong. This indicates buyers are still optimistic about their companies' ability for success.

On 4 March, new 25% blanket tariffs across all products exported to the USA from Canada and Mexico are now in effect. The only exception is Canadian energy products, which will be assessed a 10% tariff.