Category: Market Data

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, and what people were talking about in the market.

Sector fundamentals for US steel companies remain solid overall, according to ratings agency Fitch’s 2024 outlook report.

SMU’s Current and Future Steel Buyers Sentiment Indices have both increased, based on our most recent survey data as of Wednesday, Nov. 22.

Canada and the EU have established a Green Alliance, pledging to align their domestic and international climate policies in the pursuit of climate neutrality.

Lead times for all steel sheet products but cold rolled were extended last week as prices trend upwards.

The percentage of steel buyers saying mills were willing to negotiate spot pricing has fallen for all products SMU surveys, according to our most recent survey data.

New orders for manufactured durable goods fell in the US in October.

A year after signing purchase agreements with two US steelmakers, Trane Technologies has shipped more than 1 million HVAC units produced with low-carbon steel.

US housing starts crept higher for a second consecutive month in October. Starts were lower, however than the same month last year, according to the most recent data from the US Census Bureau.

Turkish scrap import prices increased for a third consecutive week.

The spread between hot-rolled coil (HRC) and galvanized sheet base prices has been hovering near $200 per net ton since late July, according to SMU’s latest analysis.

Increasing mortgage rates have caused builders to lose confidence in the market, according to the National Association of Home Builders (NAHB).

European Aluminium, an association representing the entire European aluminum value chain, announced in a press release that it supports the European Commission's proposed 12th package of sanctions against Russia.

Surging US sheet prices and expanding lead times are making imports more attractive. The automotive workers’ strike is essentially over, and domestic US sheet prices have rocketed higher alongside lead times. There is little to suggest that the momentum of these price increases will slow over the next month or two, and thus imports have […]

SMU discussed wind energy, a promising end-use market for steel, with SSAB Americas’ SVP and CCO Jeff Moskaluk.

The iron ore price has been rising from the $118 /dry metric ton (DMT) level seen in the last edition, initially due to greater optimism in China after the government’s RMB 1 trillion fiscal stimulus announcement. The price has gotten some extra support from concerns over supply, though the current price level is not backed by […]

Steel Market Update’s Steel Demand Index has moved into growth territory after seeing steady improvement since mid-September, according to our latest survey data.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, and what people were talking about in the market.

Flat Rolled = 52.6 Shipping Days of Supply Plate = 61.8 Shipping Days of Supply Flat Rolled US service center flat-rolled steel inventories decreased for a third consecutive month in October. At the end of October, service centers carried 52.6 shipping days of supply, according to adjusted SMU data. This is down from 53.3 shipping […]

Tata Steel has announced plans to cut 800 roles at its sheet works in Ijmuiden, the Netherlands, to remain competitive and profitable in the future. “Despite all efforts by Tata Steel to improve its market position and reduce costs, more is needed and the company needs to bring down personnel costs further,” the company stated. […]

SSAB Americas will supply its low-carbon SSAB Zero steel to GE Vernova Onshore Wind for wind towers in North America.

CRU’s analysis shows that 7–12 million metric tons of additional steel demand will be generated following the issuance of RMB1 trillion bonds by the central government of China. The immediate impact of this is that market confidence has improved, which has supported prices. The additional steel demand is expected to materialize over 2024 and 2025. […]

The latest SMU 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.” Historical survey results are also available under that selection. If you need help accessing the survey results, […]

The historically significant Sparrows Points steel mill site in Baltimore is set to live another life as a wind turbine factory under the name “Sparrows Point Steel.”

SMU’s Current and Future Steel Buyers Sentiment Indices both declined this week, based on our most recent survey data.

The percentage of steel buyers saying mills were willing to negotiate spot pricing fell for hot rolled this week, while plate's negotiation rate shot up, according to SMU's most recent survey data.

Lead times for most sheet products were pushed out even further this week as domestic prices continue to rise. Plate lead times, meanwhile, contracted on falling prices and waning demand.

Canadian metals distributor Russel Metals reported lower earnings in the third quarter as the company “navigated through volatile market conditions.”

The Dodge Momentum Index (DMI) increased in October thanks to stronger commercial activity, according to the latest Dodge Construction Network (DCN) data.

SMU gives an overview of the steel market and economic indicators for October.