Category: Market Data

Interest rate stability and growing owner and developer confidence helped push the Dodge Momentum Index (DMI) higher in May.

Steel 101 The final countdown to our Steel 101 course has arrived. Held in Fort Wayne, Ind., on June 11-12, all the main ins and outs of steelmaking will be covered. And there will be a tour of SDI's Butler mill. You can still register here or reach out to us at events@steelmarketupdate.com.

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, or if your company would like to have your voice heard in our future surveys, contact info@steelmarketupdate.com.

Sufficient inventories resulting in softer demand continued to drag down US longs prices this month. Furthermore, lower scrap prices in May added to the downward pressure and expectations for June scrap are turning increasingly bearish. Import interest was also limited, particularly as competition among domestic producers rose.

When it comes to steel decarbonization, we do not need to compromise our climate ambition to make the types of demanding steel products needed for our 21st-century economy. Nevertheless, many of the world’s highest-emitting steel producers and their allies would have you believe that one cannot be done without the other. They are wrong. They […]

SMU’s Steel Buyers’ Sentiment Indices both rebounded sharply this week, according to our most recent survey data.

Movements in steel mill lead times were mixed this week, according to our latest steel buyers survey results. Service centers and manufacturers reported short to average production times, little changed from our last report.

Steel buyers found mills more willing to negotiate spot pricing this week on all products SMU tracks with the exception of Galvalume, according to our most recent survey data.

US manufacturing activity contracted in May for the second month in a row, according to the latest report from the Institute for Supply Management (ISM). After a brief expansion in March, ISM’s manufacturing index has since returned to contraction, where the manufacturing sector has been for 18 of the last 19 months. The ISM Manufacturing […]

Economic growth was modest, at best, from April through early May in most economic districts observed by the Federal Reserve.

The Chicago Business Barometer tumbled lower in May, now at the lowest measure recorded since May 2020 according to Market News International (MNI) and the Institute for Supply Management (ISM).

Steel sheet prices across most regions of the world were little changed this week. European buyers remain cautious regarding their outlook towards end-use demand and largely remained out of the market. A similar trend was seen across Asia, although skepticism on real estate stimulus measures in China led to w/w price falls. In the US, […]

The major steel-handling port in Burns Harbor, Ind., is getting substantial infrastructure upgrades.

Most metalformers expect economic activity to be level to down over the next three months, according to the May Business Conditions Report from the Precision Metalforming Association (PMA).

Steel imports jumped from March to April and are looking nearly as strong for May, according to updated Census data released earlier this week.

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

Nucor’s Consumer Spot Price (CSP), a legitimate mill offer price, is a potential disruptor to North American steel sheet commercial and procurement strategies. We will dive into the details of what we think the CSP is and why we believe it is a potential disruption to how the North American sheet market operates.

After achieving its 2030 greenhouse gas (GHG) emissions reduction targets well ahead of schedule, Cleveland-Cliffs Inc. has set new reduction goals.

Steelmaking raw material prices have moved in different directions over the past month, according to SMU’s latest analysis.

Why have steel emissions policies forgotten about recycling? The short answer is that they haven’t. ResponsibleSteel was recently characterized in an article featured in the SMU Executive Newsletter as advocating for steel emissions policies which “discourage recycling.” In fact, ResponsibleSteel sees recycled scrap as playing a critical role in driving steel decarbonization. Recent revisions to […]

Hot rolled buyers found mills less willing to negotiate spot pricing this week, while other products SMU tracks were mixed, according to our most recent survey data.

Lead times on most steel products tracked by SMU held steady or contracted this week compared to two weeks earlier, according to our latest market survey.

The Architecture Billings Index (ABI) from the American Institute of Architects (AIA) and Deltek indicated architecture firm billings remained soft through April

SMU’s Steel Buyers’ Sentiment Indices both plummeted over 10 points this week, both hitting lows for 2024, according to our most recent survey data.

Steel prices eased for both sheet and plate products this week, according to our latest canvass of the market

US housing starts ticked up through April following March’s dip, according to the latest data release from the US Census Bureau.

The recent decline in US hot-rolled (HR) coil and longs prices has further restricted demand for imported material. Despite the decline in US sheet prices, CR coil and HDG imports remain attractive. While demand for imports of longs products has been limited, buyers have increased imports of wire products to avoid wire rods’ higher tariffs. […]

US hot-rolled (HR) coil prices saw further declines this week, while foreign prices were steady to slightly higher in the three regions we monitor

SMU surveyed our market contacts this week about steel prices, demand, and the overall marketplace. Below are some of the buyers' responses in their own words to help you get a feel for current and future market conditions. Demand is a big topic of discussion currently. Is it steady, falling, or on the upswing with summer construction heating up? As you can see from the answers below, it depends on who you ask. One buyer’s response sums it up pretty well: “I still see the marketplace as soft/stable with some segments busy, while others tread water.”

Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact info@steelmarketupdate.com. Flat Rolled = 57.8 shipping days of supply Plate = 58.3 shipping days of supply Flat Rolled US service center flat-rolled steel supply edged lower in April, though shipments continue to […]