CR imports more attractive as US prices remain on the rise
Cold-rolled (CR) coil prices ticked up in the US this week, as offshore prices mostly trended lower.
Category: Market Data
South Korea surges past Canada as top US steel supplier
South Korea has overtaken Canada as the top foreign supplier of steel to the US market.
CRU: Iron ore finds cost support while Chinese demand underpins seaborne met coal pricing
For the next month, CRU forecasts that iron ore demand will fall m/m while metallurgical coal to be stable.
HR Futures: Market sees longer rally, higher peak
The US HRC futures curve has continued to move higher, particularly in the deferred months, suggesting the market is pricing a slower return to balance.
Steel market chatter this week
Earlier this week, SMU polled steel buyers on an array of topics, ranging from prices, demand, and inventories to tariffs, imports, and evolving market conditions.
New York manufacturing activity growth slowed in June
Manufacturing activity in New York state increased modestly in June, easing after posting strong growth the month prior, according to the Empire State Manufacturing Survey.
Oil and gas drilling increases in US and Canada
Drilling activity ticked higher this week in both the US and Canada, according to recently released rig count figures from Baker Hughes.
Imports more attractive as US prices continue to rise
SMU’s average price for domestic HR was $1,130 per short ton (st) this week, $15/st higher week over week (w/w). In offshore markets last week, prices were largely down, following a trend seen since late April.
SMU Steel Demand Index moves higher
SMU’s Steel Demand Index ticked back up from late May, remaining in elevated territory, according to mid-June indicators.
US manufacturing activity continues expansion for 5th consecutive month: ISM
May was the fifth consecutive month of expansion for the US manufacturing sector, according to the most recent Institute for Supply Management (ISM) report.
Canada’s steel output falls 15% in May as US tariffs reshape trade flows
Canada’s steel production dropped sharply in May, falling 15% year over year and running 14% lower year-to-date, according to Earth-i’s Savant Global Monitoring Index. May’s production was just under 900,000 metric tons.
SMU's Mill Order Index accelerates in May
SMU’s Mill Order Index recovered in May, reclaiming some momentum lost the month prior.
SMU Price Ranges: Sheet climbs further, plate stabilizes
SMU’s sheet price indices increased further this week, while plate held steady, all at multi-year highs.
Apparent steel supply edges lower in April on reduced mill shipments
Apparent steel supply eased from March to April on reduced mill shipments per recent Department of Commerce and American Iron and Steel Institute (AISI) data.
Steel exports tick up to 13-month high in April
US steel exports improved 2% from March to April to the highest monthly volume seen in 13 months. Although up, trade remains historically low
Join us for a Community Chat with Timna Tanners on June 24!
SMU and AMU are pleased to announce that Wells Fargo Managing Director Timna Tanners will be joining us for a Community Chat webinar on Wednesday, June 24, at 11 am ET.
AISI: Steel mill output cools after recent high
The volume of raw steel produced by US mills slipped to a seven-week low last week but remains historically high, according to American Iron and Steel Institute (AISI) figures released on Monday.
Heating and cooling equipment shipments slow in April
Total heating and cooling equipment shipments declined 5% in April, according to AHRI figures.
May service center shipments and inventories report
US service centers’ flat-rolled steel supply declined for a fourth straight month in May, with shipping days of supply slipping to 44.7 on an adjusted basis, according to SMU data.
Steel imports grow through April and May
After reaching historic lows late last year, import volumes have increased each month of 2026, according to recently released US Commerce Department data.
Rig count pushes higher in Canada, steady in US
Oil and gas drilling activity in Canada picked up over the past week, while drilling in the US remained mostly steady.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members.
SMU Survey: Sentiment Indices show buyers remain optimistic
SMU’s Steel Buyers’ Sentiment Indices remained strongly optimistic this week and continue to indicate that buyers are confident in their companies’ prospects.
Coated duties crush HDG imports in 2026
A major trade case finalized late last year, along with higher Section 232 tariffs, account for the reduced imports.
SMU Survey: Sheet and plate lead times extend further
Steel mill lead times extended this week on both sheet and plate products, now at multi-year highs.
SMU Survey: Mills slightly more willing to negotiate spot prices
This week we saw continued low negotiation rates across all products, with cold rolled and plate the least negotiable and galvanized the most.
Domestic, offshore HR prices continue to diverge, narrowing the premium
The price gap between US hot-rolled coil (HR) and landed offshore product continues to narrow, as stateside prices are now, on average, carrying a premium over imports. Domestic tags are still outpacing imported hot band as pricing dynamics diverge.
SMU Price Ranges: Sheet and plate markets strengthen
All five of SMU’s price indices increased this week to new multi-year highs. Prices have increased by 20-25% since the beginning of the year.
AISI: Domestic steel shipments slip in April
The American Iron and Steel Institute (AISI) reports that US steel shipments fell from March to April.
AISI: Domestic mill production remains strong
Domestic steel mill output remained historically strong last week, holding within earshot of a multi-year high.