Analysis
April 15, 2024
Written by Brett Linton
Domestic raw steel output slipped from last week’s multi-month high, according to the American Iron and Steel Institute (AISI).
Total steel output in the US is estimated to have been 1,726,000 short tons (st) in the week ending April 13, down 1.1% from the week prior. Last week’s production is down 2.4% compared to the same week one year prior when production totaled 1,769,000 st.
Worthington Enterprises reported higher fiscal first-quarter sales and earnings while citing rapidly growing data center demand and continued tightness in the steel market.
Sheet and plate prices continued to tick mostly higher this week amid a supply squeeze that shows no signs of loosening its grip on the US market.
This October, SMU is introducing a new way to keep you informed on the latest steel market news and insights: the Daily Digest. Beginning in mid-October, our new Daily Digest will replace the three newsletters currently delivered each week.
The scrap market for October is looking for direction as some participants on both sides of the furnace are indicating scrap prices are poised for an increase.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.