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    Final Thoughts

    Final Thoughts

    Written by David Schollaert


    For those who don’t know, we have a monthly scrap survey. It’s very similar to our industry-leading flat-rolled steel survey. We cover market trends, pricing, and sentiment – which helps us keep our finger on the pulse of the scrap market.

    One thing we’ve learned lately from our surveys here at SMU: The lack of clarity from Trump’s tariffs are leaving the market in flux.

    David Schollaert

    Read more from David Schollaert

    Latest in Final Thoughts

    Final Thoughts: Longer waits, higher stakes

    We’re in rarefied air for the US domestic steel industry. Mill lead times are approaching or even exceeding (in the case of plate) records set in 2021. Prices, meanwhile, are on an epic run—13 months and counting. Availability, not price, is the largest hurdle buyers are facing. And market participants think the shortage could stay around for a while. Incoming imports and mills catching up after fall maintenance could ease the squeeze. Even so, most sources do not expect meaningful relief until 2027.

    Final Thoughts: Is the steel market now tighter than in 2021?

    "Now, the problem is no longer the price. The problem is having access to steel." That would have made a good lead. But I can’t take credit for it. Those (very quotable) words are from Cleveland-Cliffs Chairman and CEO Lourenco Goncalves during the steelmaker’s quarterly earnings conference call on Monday. For a while, I thought the shortages we'd been hearing about might be mostly a problem for small- and mid-sized buyers. But we’re seeing even some of the biggest steel buyers talking openly about supply problems.