Category: Analysis

Total raw steel produced around the globe rebounded 3% in May to an estimated 157.9 million metric tons (mt), according to the World Steel Association (worldsteel).

The export market off the US East Coast has been largely inactive over the last two weeks.

CRU: Tight market balance will drive up US steel plate prices, while weak demand and lower CBAM costs will pull European prices down. Weather risks will shape Asian markets, from Chinese rain disruptions to uneven Indian monsoons.

We are in full ramp-up mode here at Steel Market Update as we put the final touches on North America’s largest flat‑rolled steel industry gathering of the year.

There has been a pause this month in new pig iron transactions between Brazil and the US due to uncertainty around US tariffs.

Iran and the US have signed an agreement to extend the current ceasefire for 60 days. CRU analysts discuss key aspects of the deal.

Cold-rolled (CR) coil prices ticked up in the US this week, as offshore prices mostly trended lower.

Starting June 26, SMU’s Final Thoughts will become a standalone article delivered every Friday, creating a dedicated space for thought leadership and market analysis from our experts.

South Korea has overtaken Canada as the top foreign supplier of steel to the US market.

For the next month, CRU forecasts that iron ore demand will fall m/m while metallurgical coal to be stable.

Steel Dynamics Inc. (SDI) said it expects to record a $16 million asset write-down in the second quarter after deciding to relocate a planned Aluminum Dynamics (ADI) recycled aluminum slab casting center from Benson, Ariz., to Columbus, Miss.

It’s what we call: One ticket. Two conferences. One journey to gather steel and aluminum insight.

The US HRC futures curve has continued to move higher, particularly in the deferred months, suggesting the market is pricing a slower return to balance.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from prices, demand, and inventories to tariffs, imports, and evolving market conditions.

Manufacturing activity in New York state increased modestly in June, easing after posting strong growth the month prior, according to the Empire State Manufacturing Survey.

SMU’s average price for domestic HR was $1,130 per short ton (st) this week, $15/st higher week over week (w/w). In offshore markets last week, prices were largely down, following a trend seen since late April.

SMU’s Steel Demand Index ticked back up from late May, remaining in elevated territory, according to mid-June indicators.

The spread between domestic hot-rolled coil and prime scrap prices continued to widen in June, a trend that began in September.

SMU’s Mill Order Index recovered in May, reclaiming some momentum lost the month prior.

Ferrous scrap prices for June came in sideways, scrap sources told SMU.

SMU released May service center inventories on Monday. And if you’re a premium subscriber, I recommend reading the report (here) if you haven’t already.

SMU’s sheet price indices increased further this week, while plate held steady, all at multi-year highs.

Apparent steel supply eased from March to April on reduced mill shipments per recent Department of Commerce and American Iron and Steel Institute (AISI) data.

The scrap market seems firm as we go into the midsummer month of July without too many changes from June.

US steel exports improved 2% from March to April to the highest monthly volume seen in 13 months. Although up, trade remains historically low

SMU’s June 12 Flat-Rolled Steel Buyers’ Survey shows a divided steel community on the effects of President Trump’s tariff policies, emerging but uneven signs of reshoring, and near-universal cost pressures tied to the Iran conflict.

Total heating and cooling equipment shipments declined 5% in April, according to AHRI figures.

US service centers’ flat-rolled steel supply declined for a fourth straight month in May, with shipping days of supply slipping to 44.7 on an adjusted basis, according to SMU data.

Summer doldrums? Not this year! SMU’s latest steel market survey indicates that an increasing number of steel buyers think prices will continue to rise along with the mercury.

The Trump tariffs have driven the mundane world of traditional “trade remedies” off the front pages. But antidumping and countervailing duty measures are still with us, and new cases are on the upswing lately.