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    Analysis

    November 18, 2025

    SMU Mill Order Index jumped in October

    Written by David Schollaert

    SMU’s Mill Order Index (MOI) surged in October after a notable decline the month prior. The recovery came as service center on-order inventory totals picked up, supported by a slight uptick in shipments, according to our latest service center inventories data.

    An increase in intake and new order entries in October at an aggressive rate underscored the result. The boost comes as service centers both capitalized on recent bottom-dollar prices and primed inventories for anticipated seasonal demand.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

    Read more from David Schollaert

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