Category: Market Data

Most sheet prices inched up again this week following mill efforts to set a floor under tags and to increase them from there.

The United Steelworkers (USW) union has voted down a tentative agreement with Metallus. The parties will continue the existing labor contract for 90 days, until Jan. 29, 2026, as they continue negotiating.

The latest monthly ISM report confirms the American manufacturing sector continued to contract for another month. October marked the eighth consecutive month...

The volume of raw steel produced by US mills eased last week, according to AISI's latest figures. Prior to this month, output had remained historically strong since June.

Most steel buyers think that steel prices will continue to rise into the 2026. But they don’t see the kinds of big gains that have characterized past market upturns, according to the results of SMU’s latest steel market survey.

The Chicago Business Barometer’s October reading still indicates a cooling in general business activity despite posting a surprise gain.

The latest Baker Hughes rig count report showed oil and gas drilling slowing in both the US and Canada last week.

President Trump’s decision to suspend trade negotiations with Canada has crushed short-term expectations of any relief for Canadian producers or the US Midwest P1020 premium.

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

SMU’s Steel Demand Index remains in contraction, according to late October indicators. Though growth faded at a slower pace, it rebounded from one of the lowest readings year-to-date from earlier in the month.

SMU’s Steel Buyers’ Sentiment Indices both rose this week, with Current Sentiment rebounding 14 points.

Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet and plate products than they were in recent weeks.

Steel mill lead times marginally extended for both sheet and plate products this week, according to responses from SMU’s latest market survey.

SMU’s Mill Order Index declined in September after repeated gains from June through August. The shift came as service center shipping rates and inventories fell.

North American auto assemblies declined in September, down 5.1% vs. August. And assemblies were also down 1% year on year.

Sheet steel indices increased across the board this week, while plate prices held steady. All five of SMU’s price indices are higher than they were two weeks ago, and all but one are above levels recorded four weeks ago.

Participants on this month’s Heating Air-Conditioning & Refrigeration Distributors International (HARDI) Sheet Metal/Air Handling Council call expect galvanized steel base prices to firm up in the first quarter of 2026.  

Domestic mill production inched higher last week, according to the latest figures released by the American Iron and Steel Institute (AISI). Prior to the start of this month, raw output had remained historically strong since June.

India's JSW Steel reported a 307% year-on-year (y/y) jump in net profit to INR16.5 bn ($188 million, €161 million) in fiscal Q2.

Ford executives said the automaker expects aluminum supplier Novelis to restart its fire-damaged Oswego, NY hot mill by late November or early December.

What's on steel buyers' minds this week? We asked about market prices, demand, inventories, tariffs, imports, and other evolving market trends. Read on for buyers' comments in their own words...

Demand for plate on the spot market remains soft by comparison to years past. However, this week regional demand variations grew more pronounced.  

As Aluminum Dynamics Inc. (ADI) continues to ramp up production at its Mississippi mill, Steel Dynamics Inc.'s chief executive said there is more opportunity ahead.

Our average HR coil price increased $5/short ton from last week, marking a second consecutive week of modest gains. Market participants generally attributed the increase to...

Medium- and heavy-duty trucks (MHDV) and buses imported to the US will start being charged Section 232 tariffs beginning Nov. 1.  

US-based Ampco-Pittsburgh has placed its forged and cast rolls plant in Gateshead, northeastern England, into administration through voluntary insolvency after years of losses.

The Consumer Federation of America estimates rising total auto debt at a staggering $1.66 trillion, along with increasing repossessions and a sharp increase in delinquencies.

US domestic sheet prices have remained rangebound in recent weeks as supply tightness met weak demand. Demand for steel produced in the US increased among some Mexican industrial buyers....

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

SMU’s Steel Buyers’ Sentiment Indices both fell this week, with Current Steel Buyers’ Sentiment notching the lowest reading since May 2020.