Category: Market Data

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

Sheet prices were mixed this week as some mills continued to offer significant discounts to larger buyers while others have shifted toward being more disciplined, market participants said.

Directors of Anglo American and Teck Resources have conditionally agreed to join together in what they describe as a merger of equals with a focus on copper. 

If the steel industry professionals who made it to the very final presentation of this year’s SMU Steel Summit were expecting another round of cautious forecasting, they were in for a surprise. Because what they got was a wake-up call.

SMU’s current Scrap sentiment index increased this month while future sentiment declined, according to our latest ferrous scrap survey data.

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

SMU’s Steel Buyers’ Sentiment Indices ticked higher this week, according to the latest data from our flat-rolled steel survey.

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

he US longs market remained stable this month despite ongoing challenges from tariff-impacted imports, even as end-use demand was relatively unchanged and scrap prices held flat in August.

Let me begin by extending sincere congratulations to the EGA/Spectro Alloys team on achieving their first metal casting at the Rosemount (MN) secondary billet casthouse.

Sheet and plate lead times held steady yet again this week, according to steel buyers responding to our latest market survey, a trend in place since May.

The majority of steel buyers responding to this week’s market survey continue to report that mills are open to negotiating spot prices on sheet and plate products.

SMU’s hot-rolled (HR) coil price held steady this week while prices for other sheet and plate products declined.

Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.

Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.  

Steel prices, end-use demand, inventory levels, tariffs, imports, and evolving market events... what is the steel industry talking about this week?

Steel prices remained largely unchanged this week, staying at or near lows last seen in February. All five sheet and plate products tracked by SMU moved by no more than $5 per short ton (st) from the previous week.

On Thursday, the U.S. and EU agreed to more concrete terms to their handshake deal of last month.

Domestic sheet prices in the US remained under pressure, limiting interest in imports, while domestic prices for longs products continued to rise.

SMU’s Steel Buyers’ Sentiment Indices moved in opposing directions this week. Our Current Steel Buyers’ Sentiment Index dropped to one of the lowest levels recorded in over five years, while Future Buyers’ Sentiment inched higher.

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 […]

Steel buyers report steady lead times for sheet and plate products, a soft-sideways trend we've seen since May.

The majority of steel buyers responding to our market survey this week continue to say that mills are negotiable on new spot order prices. Negotiation rates have remained high since May.

US housing starts rose in July both month-on-month and year-on-year, according to figures from the US Census Bureau. 

Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.

SMU’s Mill Order Index (MOI) moved higher in July after rebounding the month prior. The shift comes after mill orders declined from March through May.

Business activity in New York state improved modestly in August. It was just the second positive reading for the general business conditions index in six months.

While boarding Airforce One on Friday, US President Donald Trump stated that he would be setting more steel tariffs and putting ~100% tariffs on semiconductors and chips.  

The CRUmpi rose by 0.8% month over month (m/m) to 286.1 in August, following four consecutive months of decline. Scrap prices showed mixed trends across major regions, largely influenced by local supply-and-demand dynamics, government policies, and the relative strength of finished steel markets. US prices were stable while Europe and Asia saw price increases, but […]

Hardly a day goes by without someone writing about the expected rise in US electricity demand. This demand is largely driven by data center and AI’s appetite for power.