Analysis
September 7, 2025
Written by Michael Cowden
A recurring theme in conversations with some of you and in the comments submitted to SMU’s surveys is concerns about demand and uncertainty about tariffs.
Some tell me the uncertainty caused by the tariffs is putting a damper on what otherwise might have been a good year for demand. Others say that things should improve later this year and into next as demand improves and as tariff uncertainty wanes.
The US Department of Commerce has preliminarily determined that critical circumstances exist in the countervailing duty (CVD) investigation of imports of large-diameter graphite electrodes (LDGEs) from China.
SMU’s Steel Demand Index rose to 69.5 in mid-September, its highest reading in more than five years.
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.