Steel market chatter this week

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

• The majority of buyers continue to expect higher prices in the near future due to supply constraints and ample demand.
• Most say that demand is steady to improving on both sheet and plate products, similar to recent weeks.
• Inventories are said to be moving faster than year-ago levels, with fewer respondents saying they are moving at a similar pace or slower.
• Only a quarter feel Trump tariff policies are benefiting their business, and most 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 continue to increase. Limited supply and steady/increased demand.”

“Higher, seems like the mills will be able to continue moving prices up $10 per ton each week, as they have been doing, with demand remaining stable and supply tight.”

“Higher… No inventory and no imports.”

“Continued slow and steady increases. Demand is there.”

“Plate will continue to edge up.”

“Increasing slightly but nearing a peak.”

“Slowly increasing as they have been.”

“We’ve got a bit more runway to go… I’m also now questioning whether we drift lower this summer.”

“Pricing will not peak until August due to increases in domestic pricing.”

“Flat, mills are very late and customers are double booking orders.”

“Down.”

Is demand improving, declining or stable?

“Demand is stable, but looks to be improving as inventories are very low on the service center side.”

“Demand is steady and increasing. Customers are looking for alternative supply to find the best prices and availability.”

“Plate demand is improving each week.”

“Demand seems to be improving, which is scary.”

“Stable to slightly better.”

“Stable but there seems to be some movement.”

“Stable due to instability in the economy due to risk assessments.”

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

“Inventory is moving faster versus last year because there is no summer slowdown.”

“Inventory is moving at a good clip, but we’re certainly keeping less in stock (due to high pricing).”

“Faster.”

“Plate inventory is low everywhere and moving briskly and will only continue to do so.”

“About the same.”

“Slower only because [some service centers] are having equipment problems.”

“Certain sizes are moving faster but overall inventory is moving slower.”

Are President Trump’s tariff policies helping your business?

Most buyers responding to this question (44%) feel their businesses are not benefiting from the tariffs. The remainder was split; 28% are unsure how the policies will impact them, and just 28% believe that the tariffs are helping. Comments included:

“They are terrible and hurting manufacturing by driving up costs/prices domestically.”

“Noise, noise, noise… Distractions, distractions, distractions.”

“No, they are pushing up domestic prices due to increased tariffs.”

“Yes, by keeping our inventory values increasing. But the US premium versus the rest of the world is scary.”

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

Half of respondents reported they are not seeing any signs of reshoring. Of the remainder, 28% said it is too early to tell, and only 22% said they have seen some evidence. Comments included:

“No, all talk as of now.”

“Folks are talking about it, but we haven’t really seen anything.”

“Yes, minimal on the ground, but several announcements.”

“Yes on certain steel sizes, but mainly plate has not increased demand in North America.”

Are imports more attractive than domestic material?

“Imports are more attractive from a price and availability standpoint. But the longer lead times and non-traditional countries are not finding the acceptance you would expect.”

“Imports are definitely attractive, especially pricing. Even lead times aren’t that bad.”

“Yes, import pricing is always more attractive.”

“On light-gauge painted.”

“I believe they are, but the risk is high and maybe not worth the reward.”

“Starting to look more attractive.”

“Slightly more attractive than they have been, but still lots of risk.”

“Imports are more attractive due to price, but less attractive due to lead times and uncertain future risk of topping out.”

“Plate imports are few and far between and not very attractive.”

“Yes, but quotas and tariffs are hurting overall cost with increased logistics costs.”

“Not really – Section 232.”

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

“Will the USW union negotiations cause more stress on an already stressed market?”

“Glad to see AHMSA back in the news. I am curious about the “JV” between Atlas and Maruichi, though.”

“Mills are very late almost across the board.”

“People are discussing that the war in Iran has not been the driving force for price increases.”

“Pig iron availability and Algoma plate capacity.”