Market Data
April 1, 2025
Written by Ethan Bernard
US manufacturing activity slowed in March after two straight months of expansion, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
The ISM Manufacturing PMI (Purchasing Managers Index) stood at 49% in March, off 1.3 percentage points from 50.3% a month earlier.
Steel imports into the US crept higher in August and continued climbing in September, according to the Department of Commerce's latest import license data. August imports rose 3.4% from July to a 15-month high. September license data collected through Oct. 5 shows another 6.2% month-on-month increase. Imports continue to recover from some of the lowest levels since 2020, seen late last year through February this year.
SMU’s Current and Future Scrap Sentiment Indices were stable and trending up in October, according to the latest data from our ferrous scrap survey. SMU’s Current Scrap Sentiment Index was unchanged at +88 this month after declining five points in September. The sideways result is still tied for the second-highest level year-to-date.
The Dodge Momentum Index (DMI) expanded in September, according to the most recent report from the Dodge Construction Network (DCN).
Sheet and plate prices continued to move higher on market dynamics that have carried headlines for much of the second half of the year: scarce spot tons, long lead times, production delays, lean inventories, and stable demand.
Domestic raw steel output declined last week, after seeing continued swings over the past several weeks, according to the latest American Iron and Steel Institute (AISI) figures.