Category: Market Data

Over three quarters of the steel buyers participating in our market survey this week reported that mills are negotiable on new order prices

We saw a slight upward movement in some products compared to early September, but nothing substantial enough to signal a shift in the market.

The US Department of Energy (DOE) is launching a pilot project to measure the greenhouse gas (GHG) intensity of certain energy-intensive industrial products, including steel.

The Conference Board reported that consumer confidence in the US dropped to one of the lowest readings of the year in September. With concerns mounting about business conditions and the labor market, the tumble was the biggest monthly decline since August 2021.

In this Premium analysis we cover oil and natural gas prices, drilling rig activity, and crude oil stock levels in North America. Energy prices and rig counts are advance indicators of demand for oil country tubular goods (OCTG), line pipe, and other steel products.

Last week, iron ore prices dropped below $90 per dry metric ton (dmt) for the second time in the past two years. However, prices rebounded strongly today and ended the week at $93.5/dmt, driven by the stimulus announcement in China.

SMU’s Key Market Indicators include data on the economy, raw materials, manufacturing, construction, and steel sheet and long products. They offer a snapshot of current sentiment and the near-term expected trajectory of the economy.

The latest Federal Reserve data paints a healthy and stable manufacturing sector. Steel Market Update is pleased to share this Premium content with Executive members.

Continued highly competitive steel exports from China, amid weakening global demand, have triggered a wave of trade protectionism across major markets.

Whether it’s the twists and turns of the presidential election, the U.S. Steel deal, or just what’s happening with the movement of steel pricing, there has been no shortage of stories for us to cover.

The August Architecture Billings Index (ABI) continued to indicate weak business conditions amongst architecture firms through August, according to the American Institute of Architects (AIA) and Deltek.

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.

SMU’s steel price indices were steady to higher this week. Each of our sheet indices crept upwards from last week, while our plate index was unchanged.

Steel Market Update’s Steel Demand Index ticked back seven points last week, falling further into contraction territory.

Flat rolled = 66.3 shipping days of supply Plate = 57.0 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers grew further in August. The dynamic resulted from some Q3 restocking efforts at a perceived market bottom, met with shorter lead times and weaker demand. At the end of August, service […]

New York state saw a recovery in manufacturing activity in September, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

The only way to achieve net zero goals worldwide is to significantly reduce the greenhouse gas emissions of the global steel industry. And emissions standards can play a key role in encouraging (or discouraging) steel decarbonization. In that spirit, earlier this year, the Biden administration established a climate and trade task force, aimed at a promoting “a global trading system that slashes pollution, creates a fair and level playing field, protects against carbon dumping, {and} supports good manufacturing jobs and economic opportunity.” These are ambitious and laudable goals. Across sectors, the United States has a significant carbon advantage over many of its economic competitors. This is certainly true in the steel industry, where American manufacturers are among the lowest emitting in the world. In other words, when it comes to steel, climate-focused trade policy can go hand-in-hand with US competitiveness.

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

CRU Principal Analyst Josh Spoores shares with SMU his analysis of the hot-rolled coil futures market.

Following significant recoveries in late August, SMU’s Steel Buyers’ Sentiment Indices tumbled this week.

Steel mill lead times shortened for both sheet and plate products this week, according to buyers responding to our latest market survey.

Negotiation rates have edged lower from our previous market check, a downward trend witnesses since July.

SMU’s steel price indices showed mixed signals for a second consecutive week. Our hot rolled, cold rolled, and plate price indices inched lower from last week, as the galvanized index held steady and Galvalume's ticked higher.

Following June’s slump, the amount of finished steel entering the US market partially rebounded in July, according to SMU’s analysis of data from the US Department of Commerce and the American Iron and Steel Institute (AISI).

Global crude steel production fell by 4% month over month (m/m) in July, led by a major drop in Chinese output, which fell 9% m/m.

Construction spending in the US in July was slightly lower than June. Despite the decline, it increased notably year on year (y/y).

Growth in the US economy continues to struggle in most districts. The Federal Reserve’s Beige Book report for August shows two-thirds of reporting districts flat or declining economic activity.

We had a wonderful time at last week’s Steel Summit Conference, seeing so many familiar faces and catching up with friends within the industry.

SSAB plans to spend $12 million to boost production capacity at its electric-arc furnace (EAF) plate mill in Mobile, Ala. The Sweden-based steelmaker will do that by expanding the existing furnace there. Shot blast equipment will also be upgraded. The expanded capacity is expected to come online late next year. The mill currently has an […]

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