Category: Market Data

The December reading of 36.9 declined 3.3 points from the previous month to the lowest reading since May 2024.

Japan’s Nippon Steel says it has achieved the world’s highest reduction in CO2 emissions to date by using heated hydrogen instead of coal to reduce iron ore in a blast furnace.

Recovery continues but geopolitical risks remain for 2025

The American Iron and Steel Institute (AISI) lauded the recent passage of a water resources bill in Congress.

Both of our Sentiment Indices remain in positive territory and indicate that steel buyers are optimistic about the success of their businesses.

Steel mill production times have seen very little change since September, according to buyers participating in our latest market survey.

“Manufacturers are optimistic,” said Timothy R. Fiore, chair of ISM’s Manufacturing Business Survey Committee.

Steel buyers of sheet and plate products say mills are still willing to bend on spot pricing this week, though not quite as much as they were two weeks prior, according to our most recent survey data.

We have seen very little change in sheet and plate prices across the past month.

Following a substantial recovery in November, business activity in New York state’s manufacturing sector held steady in December, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

Trends in energy prices and active rig counts are leading demand indicators for oil country tubular goods (OCTG), line pipe and other steel products

Scrap prices were stable-to-down in most regions as demand weakness offset seasonal supply tightness

Referred to as ‘apparent steel supply’, we calculate this volume by combining domestic steel mill shipments with finished US steel imports and deducting total US steel exports.

Green & Clean Power will supply electricity to Hybar’s mill that is due to begin operations next summer.

On Monday and Tuesday of 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 have remained relatively stable in recent weeks, though they have generally trended downward since October.

Monthly imports have remained within a relatively narrow range since June, significantly lower than volumes seen earlier this year, but stronger than late-2023 levels.

Vedoya said the proposed tariffs are "an irrational measure that would harm both their own industry and ours."

The Dodge Momentum Index (DMI) slid further in November as planning for data centers and warehouses continued to decline.

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

Highlights from the aluminum industry this week

The president-elect has wasted no time in using the threat of tariffs to reopen negotiations and, ideally, score other political wins along the way.

Production times are marginally higher than those seen in recent weeks, now closer to levels witnessed throughout October.

Still, many businesses noted increased sensitivity to prices and quality among customers.

A high percentage of the steel buyers we polled this week continue to respond that mills are open to price negotiation for new spot orders. Rates have been high for the majority of the year.

This week, the spread between SMU's hot rolled and galvanized indices is only a few dollars away from a 16-month low.

Steel sheet prices remain at or near multi-month lows, while plate prices continue edging lower from their mid-2022 peak.

SMU’s Monthly Review provides a summary of important steel market metrics for the previous month. Our latest report includes data updated through November 30th.

“We are under constant threat from nonmarket economies who evade our trade laws," SMA said.

US manufacturing activity contracted again in November for the eighth consecutive month.