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    Analysis

    March 25, 2026

    SMU's Mill Order Index slows in February

    Written by David Schollaert

    SMU’s Mill Order Index (MOI) eased in February, slowing momentum from repeated gains in December and January. The result came as a marginal increase in service center intake levels was offset by higher shipments, according to our latest service center inventories data.

    Mill new order entries in February eased slightly, underpinned by efforts at the service center level to keep inventories in line with demand, a trend that has grown in complexity as the market continues to experience a supply-side squeeze.  

    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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