Rig count falls in both US and Canada
The US and Canadian rig counts both fell this week, according to the latest Baker Hughes data released on Friday, Dec. 19.
Category: Market Data
SMU Mill Order Index falls in November
SMU’s Mill Order Index (MOI) declined in November after surging the month prior. The fall came as service center intake levels sharply declined, supported by a cut in shipments, according to our latest service center inventories data.
Asian HR theoretically cheaper than US HR - even with S232 at 50%
The price gap between stateside hot band and landed offshore product continues to narrow, inching closer toward parity. The premium is now, on average, at its lowest level since July.
AIA: Architecture firms face prolonged billing declines as 2026 looms
Architecture firms across the United States continued to grapple with weak billings in November, amid uncertain economic conditions, according to the AIA.
Apparent steel supply remains strong through September
Apparent steel supply rose to 8.64 million short tons in September, driven primarily by higher domestic mill shipments despite a sharp drop in finished imports.
December energy market update
In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels through December
SMU price ranges: Sheet market rising ahead of holidays
Following last week’s pause, SMU’s price indices were overall steady to higher this week, holding at or near multi-month highs.
HVAC equipment shipments down through October
US shipments of heating and cooling equipment fell 11% in October from September to the lowest monthly rate of the year, and an eight-year low, according to AHRI.
Steel export volumes weaken in September
Following August’s modest 4% uptick, the volume of steel shipped outside of the country slipped 8% in September to 594,000 short tons, according to recently released data from the US Department of Commerce.
AISI: Raw steel production rebounds after near six‑month low
The volume of raw steel produced by US mills ticked higher last week, according to the latest figures published by the American Iron and Steel Institute (AISI).
Manufacturing in New York state contracts in December
Business activity in New York state retreated in December, according to the Empire State Manufacturing Survey conducted by the Federal Reserve Bank of New York.
Steel imports historically weak through November license data
According to recently finalized US Commerce Department data, US steel imports tumbled to a near five-year low in September
Plate buyers avoid restocking, wary of market uncertainty
US plate market participants hope the new year will bring favorable market conditions. But they remain leery of making big purchases because of lingering uncertainty.
SMU Survey: Buyers’ Sentiment slips, future outlook hits 9-month high
The latest SMU’s Steel Buyers’ Sentiment Indices showed mixed results.
US rig count slips as Canadian count ticks up
The US rig count edged down this week while the Canadian count inched up, according to the latest Baker Hughes data released on Friday, Dec. 12.
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 Survey: Lead times stabilize following November extensions
Steel mill lead times held relatively steady this week on both sheet and plate products, according to responses from SMU’s latest market survey.
SMU Survey: Buyers report mills are less negotiable on sheet prices, more on plate
Less than half of the steel buyers who responded to our market survey this week reported that domestic mills are willing to talk price on new spot orders
Dodge Momentum Index down 1% in November, up on year
The Dodge Momentum Index (DMI) decreased 1% from October to November. However, it's up 36% year-to-date from the average reading over the same period in 2024, according to the latest data released by Dodge Construction Network.
US scrap tags increase in December
US ferrous scrap prices have picked up in December, sources told SMU.
AISI: Raw steel production eases to near multi-month low
Domestic raw steel production marginally declined last week, according to the latest data released by the American Iron and Steel Institute (AISI).
SMU scrap market survey results now available
SMU’s December ferrous scrap market survey results are now available on our website to all premium members.
Steel market chatter this week
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.
October US mill shipments slip but still higher than 2024
Domestic steel shipments dropped in October vs. September, but increased year over year.
Metalformers outlook steady despite headwinds in November: PMA
Metalforming manufacturers were mixed in their outlook, anticipating business conditions could either worsen or, at best, hold in the near-term, according to PMA's November report.
US plate market welcomes price increases from producers
Sources expect the recent spot market price hikes on domestically produced plate products to be accepted by the market.
AISI: Raw steel production edges lower
The volume of raw steel produced by US mills eased last week, according to the latest figures released by the American Iron and Steel Institute (AISI).
Chicago Business Barometer fell to 18-month low in November
The Chicago Business Barometer tumbled to an 18-month low in November, according to Market News International (MNI) and the Institute for Supply Management (ISM)
ISM: November marks ninth month of contraction in manufacturing sector
The Institute for Supply Management’s (ISM) latest report reflects the dim market conditions reported by US manufacturing executives in November.
SMU Survey: Current, Future Sentiment Indices log increases
SMU’s Current Steel Buyers’ Sentiment Index improved this week as Future Sentiment inched up as well, according to our most recent survey data.