Category: Market Data

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 ticked lower this week for four of the five products SMU tracks, according to our latest canvass of the sheet and plate markets. Following last week’s bump, our hot rolled, cold rolled, galvanized, and plate indices all edged lower this week by $5-15 per short ton (st) on average. Galvalume was the only […]

US mill secures $22 M funding for Nexcast project US-based rolling mill, Golden Aluminum, has secured $22.3 million in government funding for its next generation mini mill project. The company was awarded the funding from the US Department of Energy’s Office of Clean Energy Demonstrations initiative at the end of November. Golden Aluminum plans to […]

AGC said Trump should be “sparing” in imposing new tariffs and exclude products needed for domestic manufacturing, energy and infrastructure.

Pig iron prices declined in all regions as the EU’s 2025 import quota on Russian pig iron has begun, loosening global supply.

Both SMU Steel Buyers' Sentiment Indices remain in positive territory, indicating that steel buyers are optimistic about the success of their businesses.

Buyers participating in our first market survey of 2025 reported a slight decline in mill lead times compared to our last survey in mid-December. After rising moderately in early December, lead times edged lower through this week and are now only slightly above the lows seen back in July and November. Overall, production times have remained historically short since last summer, with minimal movement since then.

Improved growth in data center planning and warehousing projects helped the Dodge Momentum Index (DMI) rebound in December.

Steel buyers say mills remain open to negotiation on sheet and plate spot prices this week, slightly more so than in mid-December, according to our most recent survey results.

Steel prices didn't start the new year with a bang - but they didn't bust, either, according to SMU's first survey of 2025. On the sheet side, market participants generally predicted that prices should move higher this year on the coated trade petition and the potential for tariffs under President-elect Trump. But most buyer sources weren’t eager to load up given the uncertain timing and scope of the potential tariffs. They also cited increasing domestic capacity and modest demand.

A bleak outlook for steel demand has undermined market confidence, contributing to the drop in prices.

The deal was cleared by the Czech Republic’s anti-trust office which says the transaction will not distort competition.

“U.S. manufacturing activity contracted again in December, but at a slower rate compared to November,” according to Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee.

SMU’s Monthly Review provides a summary of important steel market metrics for the previous month. Our latest report includes data updated through December 31st.

Construction spending inched higher in November for a second straight month.

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.