Category: Analysis

While up over the week prior, domestic raw steel mill production remains near one of the lowest rates recorded this year.

When a mapmaker constructs a map, it’s always to the contours of the land. Or sea. That is, the mapmaker doesn’t say, “Look, these rocks really don’t belong here, so I’m not going to include them in the harbor map.” Uncharted rocks, sink ships (along with loose lips).

US rig counts continue to hover near multi-year lows, a trend observed since July. Canadian activity remains strong, just a few rigs shy of a seven-month high.

Global scrap prices increased in Asia and the US in October, although we believe downside risks remain for prices in the short term, particularly outside the US market.

Aloca reports strong results Alcoa‘s performance improved in Q3 due to reduced costs and higher alumina prices, the Pittsburgh-based company said in its Q3 financial results. The report coincided with an announcement on the future of Alcoa San Ciprián operations, in the Galicia region of Spain – a strategic agreement with IGNIS EQT, a Madrid-based […]

The price spread between hot-rolled coil (HRC) and prime scrap narrowed marginally in October, according to SMU’s most recent pricing data.

We had an October surprise here at SMU on Wednesday. I was working from the CRU office in Pittsburgh, and the internet connection briefly went out. As luck would have it, that happened smack in the middle of a live Community Chat webinar. Fortunately, my colleague David Schollaert stepped in, Zekelman Industries CEO Barry Zekelman rolled with the punches – and the show went on. Could there be any more October surprises in store for us and for the steel market?

The volume of finished steel entering the US market declined in August from July, according to SMU’s analysis of data from the US Department of Commerce and the American Iron and Steel Institute (AISI). Referred to as ‘apparent steel supply,’ we calculate this monthly rate by combining domestic steel mill shipments and finished US steel imports and deducting total US steel exports.

Prices, demand, inventories, evolving market events... What are buyers and sellers of steel talking about this week?

We just wrapped up another Steel 101 workshop, easily the most hands-on industry workshop on steelmaking and market fundamentals, in this humble opinion. Last week on Tuesday and Wednesday, SMU’s Steel 101 was held in Starkville, Miss.

Steel sheet prices mostly edged lower for a second week, while plate prices slipped for the third consecutive week.

August now represents the second-highest monthly shipment rate recorded in the last two years, just below the 2.16 million units rate recorded in June.

The amount of steel exiting the country in August reached the highest monthly rate recorded since August 2023.

Nucor’s top executive Leon Topalian has been elected vice chair of the World Steel Association (worldsteel) for the 2024-25 time period.

Flat rolled = 60.8 shipping days of supply Plate = 52.7 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers declined in September, though still seasonally high. September’s report reflects lower demand, stable lead times, and restocking early in the third quarter at a perceived bottom in prices. At the end […]

Domestic raw steel mill production slightly recovered last week, according to the latest figures released from the American Iron and Steel Institute (AISI).

The World Steel Association (worldsteel) has made significant downward revisions to its Short Range Outlook for global steel demand.

Ankara has placed anti-dumping duties of ranging from 6.10% to 43.31% on hot-rolled steel sheet from China, India, Japan, and Russia. Meanwhile, Malaysia has announced it will investigate allegedly dumped steel wire rod from China, Indonesia, and Vietnam.

After holding its weekly spot price for hot-rolled (HR) coil steady for three weeks at $730 per short ton (st), Nucor lowered the price this week by $10/st.

Everybody has an opinion about politics these days. More importantly for our readers, though, every business has a bottom line. A popular question in our most recent steel buyers survey asked how uncertainty around the upcoming US presidential election could affect that line.

August steel imports totaled 2.38 million short tons (st) according to final data released this week by the US Commerce Departmen

SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]

The American Iron and Steel Institute (AISI) this week named two new board members: Neil Tannyan of Hatch and Doug Dunworth of SMS Group.

SMU’s Steel Buyers’ Sentiment Indices moved in different directions this week. Our Current Steel Buyers’ Sentiment Index eased to a six-week low, while Future Buyers’ Sentiment ticked up to a four-week high. Both of our Indices continue to indicate optimism among steel buyers.

CRU Principal Analyst Josh Spoores shares insight into the hot-rolled coil futures market.

A roundup of the week's CRU aluminum news.

I’m trying to make sure this is not a TL;DR Final Thoughts. As a journalism school professor once told me, ‘No one but your mom reads more than 1,000 words.’ Also, as the old adage goes, a picture is worth a thousand as well. With that in mind, below are a couple of charts that I think go a long way toward explaining how prices and lead times have been relatively stable despite concerns about demand.

Steel mill lead times inched up this week for most sheet and plate products, according to buyers responding to our latest market survey.

Negotiation rates have consistently been in the 70-80% range for over two months, relatively strong in comparison to levels seen across the past year.

The building that was once the headquarters of AK Steel is again up for sale.