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    September 18, 2023

    SMU Steel Demand Index Inches Up

    Written by David Schollaert

    Steel Market Update’s Steel Demand Index remains in contraction territory despite marginal improvement, according to our latest survey data. And while lead times for hot-rolled coil have slipped a touch, they have remained largely stable since mid-June, with demand for flat-rolled steel still trending down.

    SMU’s Steel Demand Index now stands at 42, up two points from a reading of 40 at the end of August. The measure has declined by just about 10 points over the past six weeks and is off 20 points from the recent high of 62 reached in February. Except for a short-lived bump when the market responded to mill price hikes mid-June, SMU’s Steel Demand Index has been largely trending downwards since early April.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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