Metalformers see stable to improving business conditions
Metalforming manufacturers in the US and Canada expect stable to improving economic conditions in the next three months.
Category: Market Data
AISI: Weekly raw steel mill output remains strong
Domestic raw steel production has strengthened since the start of the year and reached a four-year high in mid-February.
January Great Lakes iron ore shipments nearly identical to last year
Iron ore shipments on the Great Lakes reached 2 million short tons in January.
ISM PMI starts '26 off strong with two months of growth in manufacturing
Primary metals, machinery, fabricated metal products, appliances and components, and transportation equipment reported growth in February.
Sheet prices and demand tick upward
Sources in the domestic hot- and cold-rolled coil market said they are beginning to feel prices creeping up this week.
Chicago Business Barometer keeps climbing in February
The Chicago Business Barometer continued to rise in February, marking its second month in expansion territory, according to Market News International (MNI) and the Institute for Supply Management (ISM).
Rig count shows slowdown in oil drilling in US and Canada
Oil drilling slowed in the US and Canada last week, while gas drilling inched higher in the US.
US apparent steel supply recovers in December but remains low
December supply increased 7% from November to the third-lowest monthly rate of the year.
CRU: Tin hits a record high
Entering 2026, tin has led a frenzied base metal rally during a historic phase for commodities. Frothy market conditions, driven by volatile investor positioning and shifting macro risk sentiment, pushed several metals—including tin—to record highs in January, before a sharp correction in February.
Steel market chatter 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.
Doderer on economy: A narrow reacceleration and the offramp not taken
Over the last month, incoming macro data was encouraging but did not signal a wholesale change in trajectory from uneven expansion within industrials.
Steel exports tumble further in December, lowest since 2020
Trade for many of the sheet and plate products we follow has fallen to multi-year lows through December.
Global steel output recovers to 6-month high in January
The total amount of raw steel produced around the world recovered 5.5% from December to an estimated 147.3 million metric tons in January, according worldsteel.
Megaprojects dominate January construction starts, core sectors slide
Total construction starts edged up 0.7% in January to an annualized rate of $1.24 trillion, according to Dodge Construction Network.
Steel imports historically weak through December and January
Steel imports slowed further in December and January to some of the lowest volumes recorded in recent years.
SMU Steel Demand Index dips, remains in expansion
SMU’s Steel Demand Index slipped from earlier in the month, but remains above expansion territory, according to late-February indicators.
AISI: Raw steel production climbs to four-year high
The amount of raw steel produced by US mills rose to the highest level recorded in over four years, according to AISI's latest figures.
N. American auto assemblies improved in January
North American auto assemblies recovered in January, up nearly 12% vs. December, though down more than 2% year on year (y/y), according to GlobalData.
Rig count unchanged in US, up in Canada
The latest Baker Hughes rig count report shows steady drilling for oil and gas in the US, while drilling in Canada improved slightly.
SMU Survey: Buyers' sentiment remains upbeat
SMU's Steel Buyers’ Sentiment Indices continue to show that steel buyers are optimistic for their businesses’ chances of success.
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 Mill Order Index climbs further in January
SMU’s Mill Order Index (MOI) rose again in January, maintaining momentum from the month prior. The increase came as service center intake levels ticked up, supported by a jump in shipments, according to our latest service center inventories data.
HARDI: Galv market conditions signal firmer terrain in 2026
The galvanized steel market is navigating price increases and longer lead times with a surer footing than in prior months.
ABI tumbles as architectural billings soften further
The AIA/Deltek Architecture Billings Index (ABI) tumbled in January, as business softened further at architectural firms across the US.
SMU Survey: Sheet and plate lead times inch higher
Hot rolled and galvanized lead times are about half a week longer than they were three months ago, while production times for cold rolled, Galvalume, and plate products are one to two weeks longer.
US scrap prices increase in February, sources say
US ferrous scrap prices continued to rise in February, scrap sources told SMU.
SMU Survey: Mills continue to hold firm on prices, most buyers say
Since late 2025, mills have begun to hold a firmer stance on prices, tightening their grip at the start of this year and holding on since
Market expects mill hikes to stick as seasonal demand increases: plate sources
Once wintery weather gives way to sunnier spring conditions, plate sources foresee the market accepting the $50-60 per short ton spot price increases issued by Nucor Plate Group, Oregon Steel Mills, and SSAB.
January service center shipments and inventories report
US service centers’ flat-rolled steel supply declined in January, after trending higher in December. Shipping days of supply slipped to 58.5 on an adjusted basis at the end of January, according to SMU data.
AISI: Domestic output jumps to multi-year high
Raw steel production ramped up last week to one of the highest weekly rates recorded in the last four years, according to recently released American Iron and Steel Institute (AISI) data.