Analysis
October 30, 2025
Written by Ethan Bernard
Just when I thought it was safe to sit down and write Final Thoughts, another bombshell. And I have to send my draft to the virtual wastepaper basket.
There are weeks when there is little news about steel. There are weeks when President Trump makes steel news. Indeed, there are countless Fridays when Trump IS THE NEWS. But not this week. The rest of the steel industry has struck back!
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.