Analysis
November 19, 2025
Written by David Schollaert
SMU’s Steel Demand Index slackened from late October, remaining below expansion territory, according to mid-November indicators.
The Steel Demand Index, compiled from our survey data, now stands at 43.5, down from late October and far off from a four-year high of 65.0 in late February.
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.