Analysis
April 21, 2026
Written by Michael Cowden
In a Final Thoughts las week, I asked “Got Steel?” And if you’re looking for spot tons in June, the answer still isn’t obvious.
Meanwhile, sheet prices continue to tick upward. And if hot-rolled (HR) coil prices don’t get to $1,100 per short ton (st) on average this month, they probably will by the end of May.
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.