Analysis
September 4, 2025
Written by Michael Cowden
I’ve been getting some calls lately from some of you who want to kick around ideas on where prices might bottom and when.
In some respects, it’s a nearly impossible market to forecast. A lot hinges, for example, on whether and for how long a 50% Section 232 tariff remains on Canadian steel.
SMU’s Mill Order Index (MOI) accelerated in August for a fourth consecutive month, reaching its strongest reading in nearly five years.
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.