Category: Analysis

If you think prices will continue to rise, you might point to longer lead times and stable order entry.

Global steel demand will reach 1.81 million metric tons in 2023, a 1.8% year-on-year boost, the World Steel Association (worldsteel) said in its updated Short Range Outlook report.

US service center flat-rolled steel inventories declined for a second month as shipping rates picked up in September.

Steel Market Update’s Steel Demand Index remains in contraction territory despite repeated improvements since mid-September, according to our latest survey data.

Specialty steel producer Grupo Simec has permanently closed down its Republic Steel mills in Canton, Ohio, and Lackawanna, in New York state, it has emerged.

SMU’s latest survey data are out, and they reflect a consensus among steel buyers that sheet prices have bottomed out and might rebound. Lead times continue to extend. Fewer sheet and plate mills are willing to negotiate lower spot prices. And 70% of survey respondents think prices have already bottomed out or will later this […]

Prices for ore-based metallics were mixed month-on-month (MoM) as lower finished steel production weighs on pig iron demand.

The LME aluminum 3-month price was stable on the morning of Oct. 13, trading at $2,201 per tonne at that time.

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, […]

The pig iron trade is an important element to the US steel and foundry industry.

The sheet market appears poised for a rebound if you’re looking at the indicators we typically track.

This week’s survey showed steel mill lead times extending across all product lines tracked by SMU.

The steel industry has faced intensified volatility in recent years as companies have navigated supply chain disruptions, economic uncertainty, and increasing customer demands.

Sheet prices remain on an upward trend. Many of you expect that to remain the case - assuming that the UAW strike doesn’t drag on much longer.

A service center executive recently told me that the best way to make a fool of yourself was to try to predict what flat-rolled steel prices were going to do. He hadn’t expected that hot-rolled coil prices would rebound from less than $600 per ton ($30 per cwt) for some larger buyers to potentially more […]

A slowdown in US steel imports has yet to be seen, as total import licenses in September were about even with August’s import levels.

Because of a series of problems encountered in Australia and the United States, Coronado and Arch have both reduced their coking coal output guidance. They also warned of higher costs. Coronado Global Resources now forecasts production between 16.2 Mt and 16.4 Mt this year, compared with a previous range of 16.8 Mt and 17.2 Mt. […]

The US steel market appears to have gone from despairing over the possibility of spot HRC prices slipping into the $500s per ton to worrying about spot availability – and in just a matter of 2-3 weeks.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, the UAW strike, and what people were talking about in the market.

Did the price increase announced by Cleveland-Cliffs last week stick? Yes, at least partially.

Steel prices continued to decline last month – a trend we’ve seen repeated since mid-April.

Will the sheet price hike announced by Cleveland-Cliffs (and quietly followed by at least some mills) stick?

ArcelorMittal said it expects to produce less steel than previously forecast in Brazil. Gerdau has hinted at potential layoffs as imports surge. The Brazil Steel Institute is asking the government to raise import levies to 25% from the existing 9.6%. Meanwhile, Mexico has applied levies to some steel imports.

The LME aluminum 3-month price was up 4.7% during the last week of the month to close September trading at $2,325 per metric ton – its highest price since early August. Several correlations appeared to have broken down in the short term given the weakness in the US stock market, a weaker copper price, and, critically, the resurgent dollar.

The latest SMU Market Survey results are now available on our website to all Premium members.

SMU's weekly survey reflects what people in the market are talking about. Lately, a popular topic has been the United Auto Workers (UAW) strike.

SMU's Current and Future Steel Buyers Sentiment Indices both increased this week despite the United Auto Workers (UAW) union strike expansion, based on our most recent survey data.

I didn’t see the Cleveland-Cliffs price increase coming on Wednesday. And I didn’t expect to see a target base price of $750 per ton ($37.50 per cwt) for hot-rolled coil. But I’ve since heard that other mills, even if they hadn’t publicly announced anything, had been quietly raising prices before Cliffs publicized its increase. Are […]

While lead times for sheet again had mixed movements this week, those for plate collapsed, according to SMU’s most recent market survey.

Sheet prices declined less than usual this week. Does that mean we’re nearing a bottom, or is it just a pause before the market moves lower yet again?