Category: Market Data

Recent conversations with plate market participants across the US revealed a wide range of experiences contingent on a variety of factors.  

Sheet market participants reported steady to elevated demand over the past week. But while spot prices continued to edge up, some sources said lead times were becoming more closely aligned to industry norms.

World crude steel production for the 69 countries reporting to the World Steel Association (worldsteel) totaled an estimated 159.9 million metric tons in March. Production jumped 12.8% from a shorter February, but was down 4.0% from March 2025, according to newly released data.

Baker Hughes' latest data shows the US rig count inching up by one while the Canadian count held steady in the week ended April 24.

The Canadian International Trade Tribunal (CITT) determined oil country tubular goods (OCTG) sold by Tenaris S.A. and certain exporters from South Korea, Turkey, and the Philippines are subject to antidumping tariffs.  

The economic outlook by metalforming manufacturers remains steady for the next three months, said the Precision Metalforming Association (PMA). 

According to the latest findings from SMU’s survey, more respondents answered that President Trump’s tariff policies have been helpful to their businesses than in the prior survey. 

Each of SMU’s sheet and plate price indices climbed higher this week, with most products rising further to new multi-year highs

Domestic mill production ticked up to a new multi-year high last week, according to recently published American Iron and Steel Institute (AISI) figures.

Apparent steel supply declined 3% from January to February to the third-lowest rate recorded in the past two years, just 5% above the near-five-year low set last November.

The US and Canadian oil and gas rig counts inched lower this past week, according to the latest Baker Hughes data.

Factors like fluctuating demand, import availability, domestic product lead times, fuel surcharges, and end-user consumption left plate sources feeling unsettled.  

Participants in the hot- and cold-rolled coils market are optimistic about the market's health.

SMU’s Steel Buyers’ Sentiment Indices indicate that steel buyers remain highly optimistic about their businesses’ chances for current and future success.

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

Steel mill lead times remained elevated this week, according to buyers responding to our latest market survey.

US manufacturing activity edged higher across most Federal Reserve Districts, with the Beige Book describing gains ranging from slight to moderate as producers navigated rising input costs and heightened geopolitical uncertainty.

US service centers’ flat-rolled steel supply declined for a third straight month in March, with shipping days of supply slipping to 49.3 on an adjusted basis, according to SMU data.

US steel exports held steady from January to February and remain near historical lows.

Participants in the galvanized steel market remain encouraged by strengthening product prices, even as increases unfold at a subdued pace.  

Manufacturing activity in New York state strengthened in April, with steel-adjacent producers reporting firmer demand and improving throughput, according to the Federal Reserve Bank of New York’s latest Empire State Manufacturing Survey.

Global steel demand is stabilizing and poised for a gradual recovery through 2027, with North America expected to post solid, policy-supported gains, according to the World Steel Association’s latest Short Range Outlook.

Heating and cooling equipment shipments recovered in February, surging 17% from January, according to the latest data released by AHRI.

Raw steel production increased for the fourth-consecutive week last week to a new multi-year high, according to the American Iron and Steel Institute (AISI).

SMU’s March ferrous scrap market survey results are now available on our website to all premium members.

Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will join SMU for a Community Chat webinar on Wednesday, April 15, at 11 a.m. ET.

Steel imports remain near some of the lowest volumes recorded in over five years.

Drilling activity declined in both the US and Canada this week, according to active oil and gas rig count figures released from Baker Hughes on Friday.

Plate market participants we spoke to this week offered a long list of concerns: escalating fuel and freight expenses, consolidated sources of end-market demand, tariff-related complications, as well as long lead times and delivery delays from US mills. The cherry on top? An ever shrinking availability of spot tons from domestic mills.

Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will join SMU for a Community Chat webinar on Wednesday, April 15, at 11 a.m. ET.