Steel export volumes remain weak through July
Following a 3% decline in June, the amount of steel shipped outside of the US edged up 1% in July to 623,000 short tons. July was the sixth-lowest monthly export rate since the COVID-19 pandemic, and...
Tag: US
Active rig counts rise in US and Canada
Drilling activity increased in both the US and Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.
CRU: US longs market holds steady despite tariff pressures
he US longs market remained stable this month despite ongoing challenges from tariff-impacted imports, even as end-use demand was relatively unchanged and scrap prices held flat in August.
Construction spending slows in July
Construction spending edged down slightly in July for a third straight month.
ISM: Manufacturing growth remained down in August
US manufacturing activity remained muted in August despite a marginal gain from July's recent low, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Rig count dips again in both US and Canada
Oil and gas drilling activity waned in the US and Canada this past week. Ticking own for the second straight week in both regions.
Global steel production eased again in July
World crude steel output declined for a second straight month in July, falling 2% from June to an estimated 150.1 million metric tons (mt), according to recent data published by the World Steel Association (worldsteel).
Active rig count declines in US, Canada
Oil and gas drilling activity slowed in the US and Canada this past week. An unfamiliar trend after both regions saw repeated gains of late.
North American auto assemblies tumble in July
North American auto assemblies declined in July, down 16.4% vs. August. But, according to GlobalData, assemblies were 2.4% ahead year on year (y/y).
US light-vehicle sales rebound in July
US light-vehicle (LV) sales increased to an unadjusted 1.37 million units in July, 8.7% over June and 6.6% above year-ago totals, according to US Bureau of Economic Analysis data.
Manufacturing in New York state improves again in August
Business activity in New York state improved modestly in August. It was just the second positive reading for the general business conditions index in six months.
Active rig count holds in US but grows in Canada
Oil and gas drilling in the US was unchanged this past week following three straight weeks of declining activity. Canada saw another gain, reaching a 22-week high.
Drilling activity slows in US but picks up steam in Canada
Oil and gas drilling in the US slowed for a third consecutive week, while activity in Canada hovered just shy of the 19-week high reached two weeks prior.
SMU Survey: Modest improvement in Sentiment Indices
Both SMU Sentiment Indices continue to show that buyers remain optimistic for their company’s chances of success, though far less confident than they felt earlier in the year.
SMU scrap market survey results now available
SMU’s August ferrous scrap market survey results are now available on our website to all premium members.
Active rig counts slipped in US, Canada
Drilling activity slowed in the US and Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.
North American auto assemblies down in June
North American auto assemblies declined in June, down 10.6% vs. May. And, according to GlobalData, assemblies were 3.1% down year on year (y/y).
Active rig counts ease in the US, climb in Canada
Drilling activity slowed in the US and increased in Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.
Reliance logs another record for Q2 tons sold
Reliance Inc. reported record second-quarter tonnages, with 1.62 million tons sold in the second quarter of 2025, a 4% increase year over year (y/y).
Global steel production slips in June
The total volume of raw steel produced around the globe fell by 5% from May to June, according to recent data published by the World Steel Association (worldsteel).
OCTG producers in Canada take aim at Mexico, US, others
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.
Manufacturing in New York state recovers in July
Business activity in New York state recovered slightly in July, with the Empire State Manufacturing Index seeing its first positive reading in four months.
HVAC equipment shipments bounce back in May
Heating and cooling equipment shipments grew from April to May, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
US drilling activity falls further, climbs in Canada
US oil and gas drilling activity continued to decline for the 11th consecutive week, while Canadian counts climbed for the sixth week in a row, according to the latest data from Baker Hughes.
Drilling activity down further in US, climbs in Canada
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.
Private equity firm Atlas Holdings to acquire Evraz North America
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.
Bulk freight increases complicate ferrous trade flows
Freight rates have risen $30-$50 on transatlantic cargoes, depending on the final destination.
SMU Community Chat: Tanners explores if US steel industry still needs imports
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 scrap market survey results now available
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, […]
Miller on Scrap: More malaise, or will tariffs lead to higher prices?
If we review the price trends for the last two years, we can see this year’s pattern following a similar path.