Category: SMU

Could 2026 be the year when tariffs headwinds clear?

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

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 pig iron market in Brazil saw some activity last week that could present some additional options to producers there, but at lower price levels.

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.

Sometimes an entire news cycle happens in one week.

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.

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

In dollar-per-ton terms, US product is on average $141/st less than landed import prices (inclusive of the 50% tariff). That’s down from $148/st last week.

Participants in the domestic steel plate market said the plate market never accepted mill-issued spot price increases. 

Angelo “Ange” Borzillo has passed away at the age of 92. He leaves behind a legacy that will endure as long as the steel he helped develop: Galvalume sheet steel.

Cliffs said it successfully completed a defect-free trial production of exposed steel parts using aluminum-forming equipment in collaboration with an unnamed OEM,

SMU’s hot-rolled coil price increased for a third consecutive week. And the gains were more pronounced this time following a price hike initiated on Friday by NLMK USA.

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.

NEMO Industries CEO talks cost and reasoning behind a $3-billion pig iron project in Louisiana.

Domestic sheet market participants say recent spot price hikes from NLMK USA and Nucor will do little to shake-up stagnant market conditions.   Price increases in the current market On Friday Oct. 24, NLMK customers learned that the producer’s hot- and cold-rolled prices increased $50 per short ton (st) and its coated products were $100/st higher. […]

Nucor has raised its weekly spot list price on hot-rolled coil by $10 per short ton (st) after keeping it unchanged since Aug. 25.

Atlas Tube, in a leading move, said it aims to increase prices for mechanical tubing, hollow structural sections (HSS), and piling products by at least $50 per short ton (st).

SMU digs into the vault to look back at an old survey, and to tell what exciting things are still to come.

US buyers want to drop pig iron prices to levels commensurate with the decline in prime scrap in their domestic market. Prime price shed $20 per gross ton (gt) in September and another $20/gt in October.

NLMK USA plans to increase prices for hot-rolled and cold-rolled coil by at least $50 per short ton (st). The move is effective immediately for all spot orders, the steelmaker said in a letter to customers on Friday.

The steelmaker released updated extras to customers on Oct. 15, marking the second adjustment in just six weeks following their early September revision

Below are some other issues that should be on your radar. Because while prices have been steady, a lot is going on when it comes to news that could impact them.

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.  

SMU’s average price for domestic HR coil moved $5 higher this week, while price movements in offshore markets varied. This dynamic...

Want to know the latest on Trump, tariffs, and trade policy - and the impact on both steel and aluminum? Then join SMU, AMU, and leading law firm Wiley for a Community Chat on Thursday, Nov. 13, at 11 am ET.