Category: Market Data

SMU’s Mill Order Index (MOI) declined for a third straight month in May, but only marginally.

The forceful headwinds bearing down on steel markets across the globe have created demand challenges and sent prices southward. The US, however, challenged the global trend.  

According to our latest analysis, prices for four of the seven steelmaking raw materials we track declined from May to June. Collectively, these materials declined 3% month over month (m/m) and are down 9% compared to three months ago.

The moves include reciprocal procurement restrictions, import quotas, and the formation of stakeholder task forces for aluminum industries.

US housing starts tumbled in May to a five-year low, according to figures recently released by the US Census Bureau.

Architecture firms reported a modest improvement in billings through May, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

Steel prices inched higher again this week across most of the sheet and plate products tracked by SMU.

However, companies are growing more optimistic about the future.

Flat rolled = 57.1 shipping days of supply Plate = 55.7 shipping days of supply Flat rolled US service centers reined in flat roll supply in May, coinciding with declining shipments. At the end of May, service centers carried 57.1 shipping days of supply, according to adjusted SMU data. That’s down slightly from 57.6 shipping […]

Hashing out duty costs

If you’re feeling a sudden jerk and a case of tariff whiplash coming on, you’re not alone.

In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.

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 Steel Buyers’ Sentiment Indices moved in opposing directions this week. Our Current Steel Buyers’ Sentiment Index sharply fell to one of the lowest levels recorded in five years, while Future Buyers’ Sentiment marginally improved.

Subdued demand has continued to weigh on steel sheet prices globally.

All five of the averages for sheet and plate mill lead times tracked by SMU extended moderately this week, according to buyers responding to our latest market survey.

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

Two industry groups are applauding two EPA proposals that would support domestic steel production.

ArcelorMittal’s (AM) Hamilton location to be shuttered, wire production shifting to Montreal. 

Steel prices climbed for a second straight week across all five sheet and plate products tracked by SMU.

SMU’s 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 flat-rolled survey results are also available under that selection. If you need help accessing the survey results, […]

Some aluminum parts are being replaced by steel. And more manufacturers are salvaging what they can before sending vehicles to recyclers.

All districts reported "hesitancy and a cautious approach to business and household decisions,” according to the Beige Book.

On Monday and Tuesday, SMU polled steel buyers for their thoughts on the current market. We received an array of feedback, including prices, demand, inventories, imports, and evolving market events.

Following eight consecutive weeks of declines, sheet and plate prices saw some upward movement this week in the wake of last Friday’s Section 232 tariff increase announcement. Gains varied by product.

May marks the third consecutive month US manufacturing activity declined, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.

Just when we thought we’d get a breather from tariffs news, we’re back in the thick of it.

Late Friday, President Trump said he would double down on tariffs, raising duties on imported steel and aluminum from 25% to 50%.

The Chicago Business Barometer reports that decreases in new orders, order backlogs, and softer production pulled the index down by 4.1-points to 40.5, in May.