Category: Market Data

The latest Baker Hughes rig count report showed oil and gas drilling improved in the US this past week, while Canada saw its rig count decline.

Contract talks for U.S. value-added aluminum products are reaching a critical stage, with billet, primary foundry alloys, and wire rod upcharges diverging as buyers and producers race to finalized 2026 pricing.

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 […]

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.  

Plate market participants anticipated price increases from domestic producers. For weeks, sources predicted an increase. No one, however, was sure of timing due to subdued demand. Following the news that JSW increased its spot market plate prices by $40 per short ton (st), sources said they anticipate more mills will begin rolling out increases.   From […]

US-flagged shipments of iron ore on the Great Lakes are on the decline. Ore shipments in October were the lowest they’ve been for that month in five years.

Domestic steel production increased last week, according to the latest figures from the American Iron and Steel Institute (AISI). Production has trended higher since mid-October, though it is not as strong as output seen over the summer months.

Russel Metals posted mixed financial results in its third-quarter earnings report. The Mississauga, Ontario-based metals processing and distribution company generated Canadian $35 million (US$53.5 million) in net income for Q3'25, representing a 1.4% increase from the same quarter in 2024.

The Dodge Momentum Index (DMI) fell more than 7% in October, sliding for the first time in six months. Still, the index is up 35% year-to-date, according to the latest data released by Dodge Construction Network.

The latest Baker Hughes rig count report showed oil and gas drilling improved in both the US and Canada in the first week of November.

AMU's latest survey of aluminum market participants shows widening gaps in lead times, with extrusions lengthening dramatically.

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 […]

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.

Shipments from US steel mills were strong in September, according to the latest figures provided by the American Iron and Steel Institute (AISI).

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.