SMU Survey: Foreign steel interest rises in pockets

North American steel buyers are navigating a market where demand is firming, but import activity remains cautious. Buyers reported mixed import activity in SMU’s June 26 Flat-Rolled Steel Survey. Most respondents, if they are purchasing foreign tons at all, are doing so selectively.

Just over half (53%) of manufacturers and 40% of service centers reported they are placing new offshore orders (Slide 50 below). A month ago, in our May 29 survey, just 29% of both segments reported purchasing new foreign orders. One manufacturer said they have “only one order in at the moment,” while another noted they are buying, “but not that much.” A service center added that they remain an offshore buyer, but said, “There is not enough offshore coming to move the needle.”