Category: Market Data

PMA’s April report shows that only 16% of surveyed manufacturers anticipate an increase in economic activity in the next three months (down from 23% in March)

Most sheet and plate steel prices declined yet again this week, with four of SMU’s five indices moving lower.

Chinese export prices for longs were almost steady this week, while those for flats generally declined as producers cut prices to secure deals.

Chinese steel export prices are expected to remain stable or fall in the coming weeks as trade restrictions rise and tensions between the country and the US escalate.

Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.

Manufacturing was mixed, but two-thirds of districts said activity was little changed or had declined.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.

SMU’s flat-rolled steel prices were flat or lower as tariff-related uncertainty continued to drag on the market.

US domestic sheet price gains have begun to slow as previously pulled-forward demand has led to a decline in orders.

Meanwhile, an increasing number think it's too early to say whether the penalties are going to bring more manufacturing to the US.

Steel buyers responding to this week’s SMU market survey report a continued softening in sheet lead times. Meanwhile, plate lead times have moderately extended and are at a one-year high.

Iron ore prices were largely steady in March, hovering around $100–102 per dry metric ton (dmt) in a quiet market.

Nearly half of the steel buyers responding to this week’s SMU market survey say domestic mills are showing increased willingness to negotiate pricing on new spot orders. This marks a significant shift from the firmer stance mills held in prior weeks.

Current Sentiment Index dropped six points to +42 this week compared to two weeks earlier. It has fallen in every successive survey since reaching a 2025 high of +66 on Feb. 19.

Steel prices slipped again this week, with all five of SMU’s sheet and plate indices trending lower for the second week in a row.

The American Iron and Steel Institute (AISI) has announced the publication of the third version of the Product Category Rules (PCR) for North American Steel Construction Products.

The union is also urging stronger enforcement against countries such as China which break trade rules, and a coordinated Canada-US strategy to protect union jobs across the North America

Steel service center shipments and inventories report through March 2024.

Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey

The company said, “The challenging demand conditions in Europe driven by geopolitical developments, trade and supply chain disruptions and escalating energy costs have affected the operating costs and financial performance."

Elon Musk's DOGE is determining which Department of Energy grants to advance and which ones to terminate, according to several media outlets

The amount of finished steel that entered the US market in February receded from January’s peak, according to our analysis of Department of Commerce and American Iron and Steel Institute (AISI) data.

SMU polled steel buyers on an array of topics this week, ranging from market prices, demand, and inventories to imports and evolving market events. We are sharing some of the comments we collected.

This week is the first time all of our indices have moved lower in unison since July 2024.

The construction sector added 13,000 jobs, seasonally adjusted, in March, but tariffs could undermine the industry.

For trading partners, the tariffs will reduce demand for exports and depress growth. Over the coming days, trade partners will almost certainly announce retaliation, which will hit US exports.

SMU’s Buyers’ Sentiment Indices experienced multi-point declines this week, though both remain positive and continue to reflect optimism among steel buyers for their companies' ability to be successful.

Supply chains are working through what the tariffs mean for them

Scrap buyers sound off on prices, demand, etc., in SMU's monthly scrap survey.

Latest tariffs could lead to US metallurgical coal exporters (many already high-cost swing producers) being priced out of the market.