Category: SMU

Sheet prices are in the middle of one of their most sustained rallies since the first quarter, and this time in the absence of any tariff or trade policy shocks.

SMU’s price indices increased across the board this week, reaching new multi-month highs.

SMU’s Mill Order Index (MOI) surged in October after a notable decline the month prior. The recovery came as service center on order inventory totals picked up, supported by a slight uptick in shipments, according to our latest service center inventories data.

The US scrap market is showing some signs of strength in certain regions shortly after the November settlements finalized without detectable resistance.

US service centers’ flat-rolled steel supply edged lower for the third straight month, reaching 53.3 shipping days of supply on an adjusted basis at the end of October, according to SMU data.

Rising prices and stable demand is not a bad way to slide into the ending of 2025.

US shipments of heating and cooling equipment fell 7% in September from August to the lowest monthly rate of the year, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).

SMU’s latest steel buyers 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.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]

SMU’s Current Steel Buyers’ Sentiment Index slipped this week while Future Sentiment inched up, according to our most recent survey data.

Scrap keeps on trucking, shutdown or not.

US sheet market participants say demand for hot- and cold-rolled coils has not increased, leaving them confused by mill price increases and average lead times.  

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

Just over 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. Mills have begun to hold a firmer stance on prices over our last two surveys.  

The price gap between stateside hot band and landed offshore product has marginally widened week over week.

The pig iron market is at a standstill since the last sale to the US several weeks ago.

The price spread between HRC and prime scrap has widened for a second month, based on SMU’s most recent pricing data.

A history of EAF steelmaking.

SMU's sheet and plate steel prices moved higher in unison this week.

November ferrous scrap prices landed even with October as the market settled, sources told SMU.

Anyone standing near the Sheraton Grand at Wild Horse Pass in Phoenix, Az undoubtedly felt a kinetic charge this week. Professionals from coast-to-coast convened in the posh desert oasis for the Association of Women in the Metals Industry (AMWI) 2025 conference. Amidst the metals crowd were those leading teams and organizations through the heat of the 2025 moment.  

SMU’s Current and Future Sentiment Indices for scrap decreased this month, based on the latest data from our ferrous scrap survey.

A sampling of SMU scrap survey respondent answers from November.

SMU’s November ferrous scrap 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 “ferrous scrap survey” results. Past scrap survey results are also available under that selection. If you need help accessing the survey […]

The market has entered into a bit of a quiet recalibration, the kind of pause that feels like a held breath. Prices have stopped falling. Lead times have stretched just enough to create firmer footing. The urgency of downside risk has faded, but maybe (not quite yet) moved on.

The gap between US hot band prices and imports narrowed slightly. But with the 50% Section 232 tariffs, most imports remain more expensive than domestic material.

The November scrap market in the US is appearing sideways across the board, according to several sources.

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.