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    Analysis

    June 17, 2026

    SMU's Mill Order Index accelerates in May

    Written by David Schollaert

    SMU’s Mill Order Index (MOI) recovered a bit in May, reclaiming some momentum lost the month prior. The result came as service center on-order volumes and new order entries continue to rise, according to our latest service center inventories data.

    The trend underscores a rising on-order pipeline due to extended lead times and buyers working to secure material. New mill order entries in May were up nearly 3% vs. April as a result. And this comes even as service centers try to backfill and even pad inventories or double-buy. The dynamic remains complicated 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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