Analysis
June 25, 2026
Written by David Schollaert
Domestic hot band prices are at a multi-year high, presently averaging $1,145 per short ton (st). They’re on a 39-week rally that has seen prices climb $360/st over that span.
Let that sink in for a moment. We’ve been on a price rally for three-quarters of a year.
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.