SMU Price Ranges: Sheet sees modest increase, plate jumps
Sheet prices continue to grind higher on tight supply and 'okay' demand. Plate finally saw some movement after weeks of stability as price increases begin to stick.
Category: Analysis
Steel imports historically weak through December and January
Steel imports slowed further in December and January to some of the lowest volumes recorded in recent years.
Tampa Steel Conference: SMA and CSPA outline trade pressures, enforcement priorities
Leaders of the Steel Manufacturers Association (SMA) and the Canadian Steel Producers Association (CSPA) used this year's Tampa Steel Conference to outline the North American steel industry's central challenges: growing pressures, tariff realignments, and the upcoming USMCA review.
Miller on Pig Iron: Confusion follows Supreme Court ruling
The main discussions surrounding pig iron is the ruling by the US Supreme Courts that “reciprocal tariffs” are illegal.
SMU Steel Demand Index dips, remains in expansion
SMU’s Steel Demand Index slipped from earlier in the month, but remains above expansion territory, according to late-February indicators.
N. American auto assemblies improved in January
North American auto assemblies recovered in January, up nearly 12% vs. December, though down more than 2% year on year (y/y), according to GlobalData.
Price on trade: IEEPA tariffs struck down, but what will go up?
The wait for an answer is finally over (sort of). In a six-to-three decision, the Supreme Court invalidated the Administration’s use of the International Emergency Economic Powers Act (IEEPA) to impose tariffs.
Leibowitz: The Supreme Court strikes down IEEPA tariffs—what’s next?
On Friday, the Supreme Court released its long-awaited decision on the IEEPA (International Emergency Economic Powers Act) tariffs imposed by president Trump beginning last April. As most of you already know, by a six-to-three majority, the Court ruled against the president.
Final Thoughts
A look at some of the results of our most recent survey with market participant comments.
AMU: Howmet CEO says gas turbine market has been 'biggest change to my thinking'
Turbine production grew along with demand from renewable energy. Now, data centers are fueling demand for electricity derived from natural gas.
Trump to impose new tariffs after SCOTUS rules IEEPA usage illegal
The latest 10% tariff is expected to be enacted over the next several days using Section 122.
CRU: Higher costs and demand will raise plate prices
Global steel plate prices are expected to trend upward as North American restocking and European regulatory costs will drive the market, even as recovery in Asian markets remains gradual and cost-dependent.
Rig count unchanged in US, up in Canada
The latest Baker Hughes rig count report shows steady drilling for oil and gas in the US, while drilling in Canada improved slightly.
Coil sources: Weekly spot orders slip, mill price hikes go unfelt
Participants in the domestic sheet market say they experienced lighter inquiries and fewer orders than in previous weeks, rendering domestic mill price increases for spot-market hot- and cold-rolled coils irrelevant.
HRC vs. prime spread widens in February
The spread between domestic hot-rolled coil and prime scrap prices widened slightly in February. It has been trending in that direction since October.
SMU Survey: Buyers' sentiment remains upbeat
SMU's Steel Buyers’ Sentiment Indices continue to show that steel buyers are optimistic for their businesses’ chances of success.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members.
SMU Mill Order Index climbs further in January
SMU’s Mill Order Index (MOI) rose again in January, maintaining momentum from the month prior. The increase came as service center intake levels ticked up, supported by a jump in shipments, according to our latest service center inventories data.
Final Thoughts
Waiting for possibly more changes to tariffs.
SMU Survey: Sheet and plate lead times inch higher
Hot rolled and galvanized lead times are about half a week longer than they were three months ago, while production times for cold rolled, Galvalume, and plate products are one to two weeks longer.
US scrap export market loses steam
The export scrap market from both North America and Europe has quieted down over the last week.
US scrap prices increase in February, sources say
US ferrous scrap prices continued to rise in February, scrap sources told SMU.
SMU Survey: Mills continue to hold firm on prices, most buyers say
Since late 2025, mills have begun to hold a firmer stance on prices, tightening their grip at the start of this year and holding on since
Tampa Steel Conference: Service centers optimistic for 2026
The final panel of last week’s Tampa Steel Conference brought together executives from three different service center, all of which were optimistic for 2026.
Market expects mill hikes to stick as seasonal demand increases: plate sources
Once wintery weather gives way to sunnier spring conditions, plate sources foresee the market accepting the $50-60 per short ton spot price increases issued by Nucor Plate Group, Oregon Steel Mills, and SSAB.
Final Thoughts
The extreme cold we've seen over the last month or so might be passing. But it's still stormy out there when it comes to trade issues. The latest trade matter that’s led to more pings than usual on my phone and in my inbox: Ternium México filed a trade petition against imports of cold-rolled (CR) coil from China, Malaysia, and the United States.
SMU Price Ranges: Cold rolled and coated move higher, hot rolled and plate flat
Three of SMU’s price indices increased this week, while two remained steady, all holding at multi-month highs.
January service center shipments and inventories report
US service centers’ flat-rolled steel supply declined in January, after trending higher in December. Shipping days of supply slipped to 58.5 on an adjusted basis at the end of January, according to SMU data.
Tampa Steel Conference: Inside Barry Zekelman’s bluntest talk yet
Barry Zekelman used his Tampa Steel Conference fireside chat to deliver one of the bluntest assessments yet of the forces shaping North American steel. He warned that a flawed tariff structure and an impending power crunch threaten the industry more than most realize.
US scrap prices rise in February after January weather
US ferrous scrap prices rise in February.