US rig count slips as Canadian count ticks up
The US rig count edged down this week while the Canadian count inched up, according to the latest Baker Hughes data released on Friday, Dec. 12.
Category: Market Data
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: Lead times stabilize following November extensions
Steel mill lead times held relatively steady this week on both sheet and plate products, according to responses from SMU’s latest market survey.
SMU Survey: Buyers report mills are less negotiable on sheet prices, more on plate
Less than half of the steel buyers who responded to our market survey this week reported that domestic mills are willing to talk price on new spot orders
Dodge Momentum Index down 1% in November, up on year
The Dodge Momentum Index (DMI) decreased 1% from October to November. However, it's up 36% year-to-date from the average reading over the same period in 2024, according to the latest data released by Dodge Construction Network.
US scrap tags increase in December
US ferrous scrap prices have picked up in December, sources told SMU.
AISI: Raw steel production eases to near multi-month low
Domestic raw steel production marginally declined last week, according to the latest data released by the American Iron and Steel Institute (AISI).
SMU scrap market survey results now available
SMU’s December ferrous scrap market survey results are now available on our website to all premium members.
Steel market chatter this week
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.
October US mill shipments slip but still higher than 2024
Domestic steel shipments dropped in October vs. September, but increased year over year.
Metalformers outlook steady despite headwinds in November: PMA
Metalforming manufacturers were mixed in their outlook, anticipating business conditions could either worsen or, at best, hold in the near-term, according to PMA's November report.
US plate market welcomes price increases from producers
Sources expect the recent spot market price hikes on domestically produced plate products to be accepted by the market.
AISI: Raw steel production edges lower
The volume of raw steel produced by US mills eased last week, according to the latest figures released by the American Iron and Steel Institute (AISI).
Chicago Business Barometer fell to 18-month low in November
The Chicago Business Barometer tumbled to an 18-month low in November, according to Market News International (MNI) and the Institute for Supply Management (ISM)
ISM: November marks ninth month of contraction in manufacturing sector
The Institute for Supply Management’s (ISM) latest report reflects the dim market conditions reported by US manufacturing executives in November.
SMU Survey: Current, Future Sentiment Indices log increases
SMU’s Current Steel Buyers’ Sentiment Index improved this week as Future Sentiment inched up as well, according to our most recent survey data.
US and Canadian rig counts fall back
US and Canadian rig counts both declined this week, according to the latest Baker Hughes data released on Wednesday, Nov. 26.
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: Lead times extend across the board
Steel mill lead times extended this week on all sheet and plate products tracked, according to responses from SMU’s latest market survey.
SMU Price Ranges: Market gradually climbs higher
All five of SMU’s sheet and plate price indices increased this week for the second week in a row, with all products inching up to new multi-month highs. Prices are now up by $30-70/st compared to those seen four weeks ago.
Steel imports slump in September and October
US steel imports declined considerably in September and October, with trade falling to reduced levels not seen in nearly five years.
US offers EU steel tariff deal in exchange for looser tech regulations
German Economy Minister Katherina Reiche expressed frustration with US levies on steel and aluminum products. The US contends the EU is unfairly targeting its big tech firms.
AISI: Weekly raw steel production ticks back up
Domestic steel production improved last week, according to the latest figures from the American Iron and Steel Institute (AISI).
Global steel production ticked higher in October
Following four consecutive monthly declines, world crude steel output recovered 1% from September to October to an estimated 143.3 million metric tons (mt), according to the World Steel Association (worldsteel).
US and Canadian rig counts log increases
US and Canadian rig counts both improved this week, according to the latest Baker Hughes data.
HR market looks for deals as prices increase
Sources say domestic mill lead times and consumer spot prices have increased this week.
HR Futures: Movement in the market
In the month since my last column, the tides have started to turn – and as usual it wasn’t the physical market that moved first.
Steelmaking raw material prices stabilize through November
Most steelmaking raw material prices remained stable over the past month. Prices are mixed in comparison to this time last year.
Plate sources say Q1 demand spike is imminent
Domestic plate market participants anticipate strong economic growth in the first quarter of 2026, which they say is the perfect reason for spot market price hikes now.
Steel market chatter this week
Steel market chatter from our most recent survey.