Category: Market Data

US primary output is at its lowest level this century

US sheet prices surge following tariff announcement

SMU’s Current Buyers’ Sentiment Index rocketed up this week, while the Future Buyers’ Sentiment Index edged down. The two indices are almost at parity.

Architecture firms continued to report a sharp reduction in billings in January, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.

Buyers responding to our latest market survey reported that steel mill lead times were stretching out this week for sheet and plate products tracked by SMU. The results weren’t much of a surprise. Production times have begun moving out following a wave of frenzied buying in response to stricter Section 232 announced by the Trump […]

Mills’ flexibility on price for spot orders has taken a nosedive to levels not seen since the end of March 2023.

Sheet and plate prices surged higher this week on a wave of what some called “panic buying” following the Trump administration’s announcement of stricter Section 232 measures last week.

Business activity in New York state’s manufacturing sector recovered nicely in February after a sharp decline the previous month, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York. The general business conditions index rose 18 points to 5.7. This is a diffusion index, where a positive reading signifies […]

The CRU Metallics Price Indicator (CRUmpi) rose by 5.0% m/m in February to 293.7, a five-month high. Scrap prices increased in different degrees this month, reflecting the confidence level in the steel market across different regions. While US scrap prices rose sharply m/m due to limited availability, those in Europe and Asia had only small […]

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.

The Dodge Momentum Index (DMI) rose to a record high in January, according to the latest data released by Dodge Construction Network.

US steel prices set to jump after President Trump levies new tariffs.

Each of the steel product prices tracked by SMU saw significant increases this week. All four of our sheet price indices rose by $30-50 per short ton (st) on average. Plate prices popped $60/st compared to the week prior.

Targets include coal, liquified natural gas, crude oil, and other commodities

After reaching multi-month lows in mid-January, SMU’s Steel Buyers’ Sentiment Indices rebounded this week to some of the highest readings recorded in months.

While we have seen some movements in recent weeks, steel mill production times remain within a few days of the historical lows observed over the last two years, a trend observed since mid-2024.

Steel mill negotiation rates have declined in each of our last two surveys; this week’s rate is the lowest recorded since March 2024.

SMU’s steel price indices rose across the board this week. Sheet prices increased as much as $35 per short ton (st) compared to last week, while our average plate price ticked up by$10/st.

Following more than two years of contraction, US manufacturing activity rebounded in January according to the Institute for Supply Management.

SMU’s Monthly Review provides a summary of important steel market metrics for the previous month. Our latest report includes data updated through January 31st.

Steel and aluminum have been identified as high priorities for trade

Despite the gain, the index remains below both the levels of November 2024 and the 2024 average.

Prices for the seven steelmaking raw materials SMU tracks moved in differing directions from December to January, according to our latest analysis.

The Canadian Steel Producers Association (CSPA) has urged Canada to engage with the US administration to avoid the tariffs threatened by the Trump administration by Feb. 1. “The imposition of tariffs on Canadian goods will have an incredibly disruptive impact on our integrated North American supply chains and on our workers and their families,” François […]

USMCA is option 1 but will cost more or not be big enough

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.

SMU’s sheet prices were mixed this week. Hot-rolled (HR) coil and plate notched gains while prices for coated products stagnated or dipped lower. Our HR price now stands at $700 per short ton (st) on average, up $15/st from last week and marking the highest level for HR prices since $705/st in early October. SMU’s […]

A majority of SMU survey respondents expect US prime scrap tags to land sideways in February. In our most recent survey last week, 51% said US prime scrap prices would be flat next month, and 46% anticipate rising prices; the small remainder think prices will fall. Recall that the January ferrous scrap market settled before […]

The Trump administration has backed off tariffs on Colombia after the White House said the leader of the Latin American nation agreed to President Trump’s demands. “The Government of Colombia has agreed to President Trump’s terms, including the unrestricted acceptance of illegal aliens from Colombia returned from the United States… without limitation or delay,” according […]

Day One of the second Trump administration did not bring tariffs, but it did signal that tariffs, and other major trade actions, are not far off.