Steel market chatter this week

Before diving in, we read through each of the responses collected and found these key takeaways:

• Most buyers expect prices to continue rising in the near future, citing market uncertainty and supply constraints. A small share believe stability could be on the horizon.
• Demand is said to be steady to improving for both sheet and plate products.
• Inventories remain mixed, with similar groups saying they are moving faster, slower, or similar to year-ago levels.
• Most continue to say that Trump tariff policies are not benefiting their business, and they have seen no evidence of tariffs driving manufacturing reshoring.

Want to share your thoughts? Contact david.schollaert@crugroup.com to be included in our market questionnaires.

How do you expect prices to trend over the next three months?

“Prices will trend higher.”

“Higher, not enough total supply.”

“Continue to climb.”

“Inching upward due to continued demand and uncertainty in global logistics.”

“Upward, possibly attributed to AI data center construction.”

“Plate will trend upward for numerous reasons related to supply and demand.”

“Slightly increase through the third quarter.”

“Slightly up. War and confusion.”

“I would say over the next month, we are expecting things to continue climbing, but then we’ll PAUSE and maybe fall back a little.”

“Pricing will stabilize over the next three months as demand slows, even during the busy construction season.”

“Stable.”

Is demand improving, declining or stable?

“For the first time in a looonnnggg time I can actually say that demand is improving. Watch out!”

“Demand is steady and strong. Supply limitations creating a scramble for short term inventory and stock buys.”

“Plate demand is improving and will continue to improve over the summer into fall.”

“Improving, perhaps panic?”

“Improving slowly.”

“Slight improvement.”

“Stable.”

“Steady.”

“Declining. Automotive is slow and economic insecurity is slowing or canceling some projects.”

Is inventory moving faster or slower than this time last year?

“Inventory is probably moving a smidge faster and that is even with us stocking less tons.”

“Faster.”

“Plate inventory overall is moving at a very reasonable pace.”

“About the same.”

“Slower as demand is slowing.”

“Slower.”

Are President Trump’s tariff policies helping your business?

Half of the buyers responding to this question feel their businesses are not benefiting from tariffs. Almost 36% are unsure how the policies will impact their business, and only 14% believe that the tariffs are helping. Comments included:

“No, I would argue both the tariffs and wars/conflicts are bad for business. Just too much chaos, worry and distraction.”

“No, they are terrible and driving up costs for everyone.”

“Unsure, I’m not even sure what tariffs remain in effect. They have been challenged so often.”

“No, tariffs have pushed pricing up.”

Are you seeing evidence of manufacturing reshoring to the US because of Trump’s tariffs?

This question was somewhat split; just under half of respondents (43%) said they have not seen any signs of reshoring. Another 36% answered they have seen some evidence, while 21% said it is too early to tell. Comments included:

“No, the headlines continue to be positive and there is definitely some posturing out there, but that is about it.”

“Yes, I have seen some recent news articles about companies trying to reshore to avoid tariffs and duties. How significant this is remains unclear.”

“Yes, bar and pipe products have started to be reshored.”

Are imports more attractive than domestic material?

“Imports are priced more economically.”

“Imports are definitely attractive and every big SSC or OEM we talk to has some incoming. That might mean the domestic party is about to end.”

“Yes and no. Prices are becoming more attractive. Longer lead times are still a risk to some, but less so as more confidence in longer higher prices.”

“Domestic prices have risen faster than foreign, making landed costs the same or cheaper than domestic.”

“On painted 0.012″ they are attractive, but on 0.015″ and above they are about equal.”

“Much less attractive… Too many unknowns and now the threat of 301 stacking, who wants to take the risk.”

“Plate imports are not attractive. Most end users require domestically manufactured and produced material. No cost advantage.”

“No, domestic is more attractive.”

“No, lead times are too long.”

What’s something that’s going on in the market that nobody is talking about?

“Mill late deliveries.”

“We still think there is more consolidation coming in 2026, both at the SSC and mill (SDI+Bluescope, OSM+?) levels.”

“South American steel import pricing and quotas.”