SMU Survey: Tight US flat-rolled market boosts buyer interest in foreign steel

SMU’s latest Flat-Rolled Steel Survey shows a tight US market marked by long lead times, low inventories, and rising prices. And with domestic supply limited, foreign products continue to gain the interest of domestic buyers.

As explained in last week’s Final Thoughts, our survey shows most buyers see current mill lead times — eight weeks on average for hot rolled — as slightly longer than normal or highly extended. And more and more buyers are pushing back their forecasts for when prices will peak and raising their expectations for what that peak price might be.