Category: Analysis

SMU’s Current Buyers Sentiment Index inched up this week, while the future index edged down, based on our most recent survey data.

I was asked to do an interview for a cable news channel in Ohio about Nippon Steel’s planned acquisition of U.S. Steel for more than $14 billion.

US housing starts jumped in November on lower interest rates stimulating home buying, according to the most recent data from the US Census Bureau.

As 2023 draws to a close, I wanted to look back on some of the key events and themes of the year. But I’m going to hold off on that idea because we were – as of Sunday afternoon - still waiting on news about arguably the biggest event of the year, the potential sale of U.S. Steel.

Pig iron prices rose month over month (MoM) for all major regions, driven by rising scrap prices.

The LME aluminum 3-month price is moving higher on the morning of Dec. 15 and was last seen trading at $2,258 /metric ton. This means the price is up 7% already since the new low for 2023 was reached on Wednesday at $2,109 /metric ton. The US Dollar reached its lowest level since early August […]

Steel Market Update’s Steel Demand Index has moved into growth territory, but barely, after recovering slightly from our reading in late November, according to our latest survey data.

Flat Rolled = 54.0 Shipping Days of Supply Plate = 61.7 Shipping Days of Supply Flat Rolled After three months of inventory cuts, US service center flat-rolled steel inventories grew in November as shipments slowed. At the end of November, service centers carried 54 shipping days of flat-rolled steel supply on an adjusted basis, up […]

Thursday felt eerily quiet after a frenzy of steel and financial market news on Wednesday.

The US Treasury Department and Internal Revenue Service (IRS) announced on Dec. 14 proposed regulations for aluminum production under the Inflation Reduction Act (IRA). According to irs.gov, Section 45X of the Internal Revenue Code (IRC) “provides a credit for the production (within the US) and sale of certain eligible components including solar and wind energy […]

Most steel markets will be more balanced in 2024, according to the latest sector outlook from Fitch Ratings.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel sheet prices, demand, inventory, imports, and what people are talking about in the market. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your […]

Steel is up again this week. Scrap is up by a lot this month: $85 per gross ton for busheling, by our calculations.

US apparent supply increased to 8.11 million net tons in October, up 4% compared to 7.82 million tons in September, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI).

The number of open construction jobs reached a record high in October as workforce shortages persist, the Associated General Contractors of America (AGC) reported.

‘Twas two weeks before Christmas, and at our publication We kept logging steel price increases from across our fair nation.

This year saw a huge increase in debate and proposals for addressing greenhouse gas emissions, not only here in the US but around the world.

US steel exports declined for the second month in a row in October, falling to the lowest monthly total so far in 2023.

The latest SMU 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.” Historical survey results are also available under that selection. If you need help accessing the survey results, […]

A count of November license applications suggests steel imports were at their lowest monthly level in 33 months.

The US presidential elections will take place on Nov. 5, 2024.

The LME Aluminum 3-month price is moving up again on the morning of Dec. 8 and was last seen trading at $2,157 per metric ton. The way the price increased first thing in the morning suggests a support may have finally been found, but resistance could hit quickly at $2,200 /metric ton. SHFE cash was […]

SMU’s Current and Future Steel Buyers Sentiment Indices both fell during the week of Dec. 6, based on our most recent survey data.

We have seen a wave of service center transactions announced since the beginning of the month.

The Dodge Momentum Index (DMI) slipped in November due to a general decrease in slightly weaker commercial and institutional activity, according to the latest Dodge Construction Network (DCN) data.

The percentage of steel buyers saying mills were willing to budge on spot pricing has risen for all sheet products SMU surveys, according to our most recent survey data.

Movements in lead times were mixed in SMU’s check of the market this week – a reflection of the seasonal dip in ordering that is typically seen during the winter holiday season.

On Dec. 6, US Senator Sheldon Whitehouse (D-RI) reintroduced the Clean Competition Act, an environmental trade directive that would impose charges on imports from more carbon-intensive manufacturers.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel sheet prices, lead times, scrap prices, performance, purchasing, and demand. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your thoughts, too! Contact david@steelmarketupdate.com to be included […]

I want to thank the Heating, Air-conditioning & Refrigeration Distributors International (HARDI) for the opportunity to speak at their annual conference in Phoenix. I enjoyed the proceedings and participating in a panel for HARDI’s sheet metal/air handling council. I can’t recap all that we discussed in a few hundred words. But I’d like to share […]