Manufacturers/End Users
August 31, 2026
Written by Laura Miller
Business cooled off in Chicago in August, falling into contraction territory for the first time since April, according to the latest Chicago Business Barometer reading.
The Barometer fell 10.5 points from July to 47.1 in August. It fell below the 50-point neutral mark for the first time since April and was the lowest reading since December.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.
Drilling activity increased in the US this week but declined in Canada, according to active oil and gas rig count figures recently released from Baker Hughes. The US rig count rose by four to 595 rigs this week, now at the highest level recorded in over two years. Canadian counts eased to a 10-week low of 197 this week, down 10 rigs from the prior week.
The results of the latest SMU flat-rolled market survey are now available on our website to all premium members.
Service centers and manufacturers report a tight, seller-driven market for galvanized sheet. Lead times are long, deliveries are late, inventories are thin, imports are down, and demand is strong, causing a shortage of galvanized material.
Manufacturing activity in New York state continued to expand in September, but at a slower pace than in August, according to the Federal Reserve Bank of New York’s latest Empire State Manufacturing Survey.