Category: Market Data

Transportation equipment led the increase, rising 1.5% to $98.3 billion.

SMU's steel price indices moved in differing directions this week but remained largely stable as cautious buyers await clarity on pending steel tariffs and trade cases.

People remain concerned about inflation, trade policies, and tariffs.

SMU’s Buyers’ Sentiment Indices showed mixed movements this week but remain strong, reflecting continued confidence among steel buyers.

These developments come at a time when the global trading system has been shaken up by US President Donald Trump’s greater use of tariffs, including employing Section 232 legislation to impose a 25% levy on steel from all countries to protect national security.

Are President Trump's tariff policies helping? Steel buyers offer their opinions on the impact of Trump's tariffs.

After a multi-week increase, buyers responding to our market survey this week reported that lead times are stabilizing or marginally declining for each of the sheet and plate products we track.

Single-family starts last month hit a rate of 1.10 million, a month-over-month increase of 11.4%, census data shows.

The majority of the steel buyers responding to our latest market survey continue to report that domestic mills remain firm on pricing, showing little willingness to talk price on new spot orders this week.

The ABI is a leading indicator for near-term nonresidential construction activity and projects business conditions ~9-12 months down the road (the typical lead time between architecture billings and construction spending).

Steel prices were stable to higher this week for the second consecutive week across the sheet and plate products tracked by SMU. Three of our price indices increased from the previous week, while two held firm.

The HRC vs. prime scrap spread increased again in March.

After a modest recovery in February, business activity in New York state’s manufacturing sector declined sharply in March, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

Prices for five of the seven steelmaking raw materials tracked by SMU increased from February to March, according to our latest analysis.

While overall steel demand remains weak in the near term, there are reasons to expect metallurgical coal prices will increase over the course of the year, Ramaco says.

Domestic steel trade associations, manufacturing groups, and the United Steelworkers (USW) union had mixed reactions to the implementation of new Section 232 tariffs without exclusions on Wednesday. Trade groups representing steel mills broadly supported President Trump’s actions, while the USW and some groups representing manufacturers were more critical. AISI Kevin Dempsey, president and CEO of […]

What are steel buyers saying this week about prices, demand, the import market, the evolving tariff situation, and more?

After over a month of increases, steel prices paused this week for some of the products tracked by SMU. Three of our price indices continued to climb, while two held steady from the prior week.

The Trump 1.0 tariffs appeared to have little positive effect on the US manufacturing, partly because they hurt export competitiveness.

SMU’s Buyers’ Sentiment Indices both declined this week but remain strong. This indicates buyers are still optimistic about their companies' ability for success.

Buyers responding to our latest market survey reported longer lead times this week on all of the sheet and plate products SMU tracks.

Manufacturing activity exhibited slight to modest increases across a majority of districts. However, manufacturers expressed concerns over the potential impact of looming trade policy changes between late January and February.

The majority of the steel buyers responding to our latest market survey reported that domestic mills are not open to negotiating prices on new orders this week.

On 4 March, new 25% blanket tariffs across all products exported to the USA from Canada and Mexico are now in effect. The only exception is Canadian energy products, which will be assessed a 10% tariff.

Steel prices climbed across the board this week, with every steel product tracked by SMU rising to multi-month highs.

Construction spending edged down slightly in January, slipping for the first time in four months. The US Census Bureau estimated spending at a seasonally adjusted annual rate of $2,196 billion in January, down 0.2% from December’s downward revised rate. The January figure is 3.3% higher than a year ago. January’s result, despite the slight erosion, […]

SMU’s Monthly Review provides a summary of key SMU steel market metrics for the previous month, with the latest data updated through February 28th.

The Manufacturing PMI registered 50.3% in February. That’s 0.6 percentage points lower compared to the 50.9% recorded in January.

The Chicago Business Barometer rose to an eight-month high in February. Despite the recovery, the measure continues to indicate deteriorating business conditions, as it has for over a year.

Increased protectionism is expected to continue to drive up steel prices in the US and Europe.