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    Analysis

    March 15, 2026

    Final Thoughts

    Written by Michael Cowden

    The US steel market is already characterized by high prices and tight supplies, and I wouldn’t be surprised if prices move higher and supplies get even tighter – at least in the short term.

    I’ll start with what we know from of SMU’s latest service center inventory report. And then I’ll suggest some things to keep an eye on as the war in Iran drags into a third week – with no immediate end to the hostilities in sight. They’re not entirely unrelated, as you’ll see below.

    Michael Cowden

    Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

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