Category: Market Data

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

The Chicago Business Barometer continues to indicate deteriorating business conditions in November, easing to a six-month low, according to Market News International (MNI) and the Institute for Supply Management (ISM).

SMU's price indices saw minor fluctuations on sheet products this week, while our plate and Galvalume indices held steady.

The slowdown in North American zinc demand in recent months has played out across all sectors, and CRU now expects it to contract by 3.7% y/y.

SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]

Following months of fluctuations, SMU’s Steel Buyers’ Sentiment Indices rebounded this week, now at multi-month highs. Both of our Indices remain in positive territory and indicate that steel buyers are optimistic about the success of their businesses.

Metallurgical coal production at Metinvest’s Pokrovske Coal operations in eastern Ukraine has declined. But that’s more due to everyday mining challenges than the threat of the Russian army getting closer to the mines, according to the steelmaker and miner based in the city of Zaporizhzhia in southeast Ukraine.

Aluminum highlights for the week

Steel buyers participating in our market survey this week reported stable mill lead times for both sheet and plate steel products.

Most steel buyers SMU polled this week reported that mills remain willing to negotiate new order pricing.

Architecture firms reported stable billings in October, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek. This follows 20 months of contracting business conditions.

Now that the dust has settled from the US election, as have the immediate reactions in the equity, bond, and commodity markets, this is a prime opportunity to look at how a second Trump presidency might affect the US steel market.

SMU’s flat-rolled steel prices were mixed this week with slight declines across most products and a modest increase in prices for cold-rolled coil.

President-elect Donald Trump has named Wall Street veteran Howard Lutnick as the new US Secretary of Commerce.

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

This CRU analysis from discusses steel sheet prices, demand, and inventory levels around the globe this past week.

A look at this week's aluminum news

New York state’s manufacturing sector saw substantial recovery in November, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

Flat rolled = 63.4 shipping days of supply Plate = 52.4 shipping days of supply Flat rolled shipments and inventories Flat-rolled steel supply at US service centers remains seasonally high. October inventories increased after edging lower in September – a dynamic driven largely by disappointing demand. October’s report reflects lower demand and stable lead times […]

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events. Rather than summarizing the comments we collected, we are sharing some of them in each buyer’s own words.

Prices for sheet and plate products were mixed this week. While market participants have noted a post-election uptick in activity, most said that it was (so far) nothing to write home about.

The total amount of finished steel to enter the US market in September fell to its lowest level in seven months, according to our analysis of recent Department of Commerce and the American Iron and Steel Institute (AISI) data

SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]

SMU’s Steel Buyers’ Sentiment Indices continue to show that steel buyers are optimistic about the success of their businesses, though that confidence has eased compared to earlier in the year.

China’s steel export volumes reached 11.2 million metric tons (mt) in October, the highest monthly level since September 2015. Steel export prices were mostly stable in China and India this week, while in Turkey steel export prices increased week over week (w/w).

Sheet lead times are stable to slightly extended compared to late-October levels, but are down for all products relative to production times one month ago.

Most steel buyers polled in our market poll this week continue to report mills are open to negotiation on new order pricing.  In fact, negotiation rates have been strong for the majority of 2024, trending higher since September.

Donald Trump has won the US presidential election. The Republican party has re-taken control of the Senate. Votes are still being counted in many tight congressional races. But based on results so far, the Republicans seem likely to maintain control of the House of Representatives. If confirmed, this will give Trump considerable scope to pass legislation pursuing his agenda. What this means for US policy is not immediately obvious. Trump will not be inaugurated until Jan. 20. In the coming weeks and months, he will begin to assemble his cabinet, which may give a clearer signal on his policy priorities and approaches. Based on statements he made during the presidential campaign, we have set out the likely direction of his economic policy here and green policy here.

SMU price indices edged lower this week for all products but one, marking the fifth consecutive week of overall declining prices.

Domestic manufacturing contracted for the seventh straight month in October, according to the latest report from the Institute for Supply Management (ISM). This marks the 23rd time in the last 24 months that it has been in contraction.