Category: Market Data

Steel mill lead times remained elevated this week, according to buyers responding to our latest market survey.

US manufacturing activity edged higher across most Federal Reserve Districts, with the Beige Book describing gains ranging from slight to moderate as producers navigated rising input costs and heightened geopolitical uncertainty.

US service centers’ flat-rolled steel supply declined for a third straight month in March, with shipping days of supply slipping to 49.3 on an adjusted basis, according to SMU data.

US steel exports held steady from January to February and remain near historical lows.

Participants in the galvanized steel market remain encouraged by strengthening product prices, even as increases unfold at a subdued pace.  

Manufacturing activity in New York state strengthened in April, with steel-adjacent producers reporting firmer demand and improving throughput, according to the Federal Reserve Bank of New York’s latest Empire State Manufacturing Survey.

Global steel demand is stabilizing and poised for a gradual recovery through 2027, with North America expected to post solid, policy-supported gains, according to the World Steel Association’s latest Short Range Outlook.

Heating and cooling equipment shipments recovered in February, surging 17% from January, according to the latest data released by AHRI.

Raw steel production increased for the fourth-consecutive week last week to a new multi-year high, according to the American Iron and Steel Institute (AISI).

SMU’s March ferrous scrap market survey results are now available on our website to all premium members.

Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will join SMU for a Community Chat webinar on Wednesday, April 15, at 11 a.m. ET.

Steel imports remain near some of the lowest volumes recorded in over five years.

Drilling activity declined in both the US and Canada this week, according to active oil and gas rig count figures released from Baker Hughes on Friday.

Plate market participants we spoke to this week offered a long list of concerns: escalating fuel and freight expenses, consolidated sources of end-market demand, tariff-related complications, as well as long lead times and delivery delays from US mills. The cherry on top? An ever shrinking availability of spot tons from domestic mills.

Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will join SMU for a Community Chat webinar on Wednesday, April 15, at 11 a.m. ET.

The Dodge Momentum Index (DMI) increased in March, but only from a downwardly revised February reading, and data centers were the only area to show positive growth.

More people expect hot-rolled (HR) coil prices to continue to climb. And most respondents to our last survey predict that prices will hit or even breach the $1,100 per short ton (st) threshold.

US raw steel production increased both week over week and year over year in the week ended April 4, according to the latest data from the American Iron and Steel Institute (AISI).

Iron ore shipments on the Great Lakes in March were down 23.5% from a year earlier, according to the latest report by Lake Carriers’ Association.  

A Lake Carriers’ Association (LCA) official said iron ore shipments would be delayed by a few weeks on the Great Lakes because of winter weather and a lack of icebreakers. 

The American Iron and Steel Institute (AISI) reported a 2.5% decrease in domestic steel shipments for February compared to January. However, shipments are up 5.1% in 2026 from the same month in 2025. 

Steel mill production times for sheet and plate products remain at or near multi-year highs, according to buyers responding to our latest market survey.

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

US manufacturing activity grew for the third straight month in March, according to the latest report from the Institute for Supply Management (ISM). March marked the 17th month of overall economic expansion. 

Sheet and plate prices were flat or modestly higher this week, continuing a trend we’ve seen since the beginning of Q4. The big question: How much longer can the trend hold?

Metalformers’ economic outlook for the second quarter softened in March, said the Precision Metalforming Association (PMA).

The Chicago Business Barometer eased in March, after growing repeatedly from December to February, according to MNI and ISM.

Raw steel production recovered for the second-consecutive week and is now just 14,000 short tons below the four-year high production rate witnessed in mid-February.

Prices for iron ore, aluminum, pig iron, and shredded scrap have all risen in the last 30 days. Busheling scrap held steady, while zinc and coking coal declined.

The latest count of operational drilling rigs declined in both the US and Canada this week, according to recently released data from Baker Hughes.