Before you know it, we’ll all be singing those famous words made popular by Alice Cooper back in ’79 – “school’s out for summer!” But it’s not “all the girls and boys making that noise,” it’s the growing buzz around SMU’s Steel Summit 2025! So, while August might seem like a long way off, we’ve […]
Oil and gas drilling activity eased in both the US and Canada this week, according to Baker Hughes. US rig counts remain near multi-year lows, and Canadian activity continues its seasonal slowdown.
The US scrap market should start to form next week, and the outlook is for another drop in the delivered cost of material.
Containers sailing from China in April are down 15%-20% and Hapag Lloyd says their future bookings transpacific are down 30%.
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 […]
US cold-rolled (CR) coil prices edged lower again this week, slipping four weeks in a row now. Most offshore markets mirrored the move, ticking down marginally as well.
Sheet and plate lead times held steady this week, according to buyers responding to the latest SMU market survey. This week we saw little change from mid-April levels, with just one product (Galvalume) showing any significant movement.
Activity had trended up for most of Q1
Nearly two thirds of the steel buyers who responded to this week’s SMU survey say domestic mills are negotiable on spot prices. This increasing flexibility marks a significant shift from the firmer stance mills held in recent months.
Section 232 returned on March 12, and since then, the price gap between offshore and US hot band has tightened.
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]
The project will expand heat treat capacity at its Axis, Alabama plant
Most sheet and plate steel prices declined yet again this week, with four of SMU’s five indices moving lower.
SMU’s Mill Order Index declined in March after repeated gains at the start of the year, according to our latest service center inventories data.
Nucor aims to keep plate prices flat with the opening of its June order book.
Oil and gas drilling activity was mixed this week, according to Baker Hughes. US rig counts expanded for a second straight week, while Canadian activity continued its seasonal slowdown of eight consecutive weeks.
US cold-rolled (CR) coil prices declined again this week, slipping for a third straight week. Most offshore markets did the opposite, moving higher this week.
Domestic hot-rolled coil prices were flat this week after dropping for four straight weeks. Most offshore markets bucked the trend and gained ground.
The domestic ferrous scrap market in the US is generally regarded as under downward pressure.
SMU’s Steel Demand Index has moved into contraction, according to late April indicators. The slowdown comes in response to growing tariff uncertainty after the index reached a four-year high in late February.
SMU’s flat-rolled steel prices were flat or lower as tariff-related uncertainty continued to drag on the market.
Nucor Corp. has tapped Fives Group as its partner in designing and manufacturing the new continuous galvanizing line being added at its California Steel Industries (CSI) joint venture in Fontana, Calif.
The pig iron markets have been quiet for the last several weeks, as tariff implementation on imports into the US became a reality. There has been debate on which party will have to pay the tariff. A recent transaction could provide the answer to that question.
The volume of raw steel produced by US mills remained relatively flat last week, maintaining the rebound seen one week prior, according to the American Iron and Steel Institute (AISI). Previously at the second-highest rate of the year, production continues to hold at one the strongest levels recorded over the last six months.
Nucor has kept its weekly hot-rolled (HR) coil price flat this week, after a marginal cut the previous week.
US domestic sheet price gains have begun to slow as previously pulled-forward demand has led to a decline in orders.
Steel buyers responding to this week’s SMU market survey report a continued softening in sheet lead times. Meanwhile, plate lead times have moderately extended and are at a one-year high.
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 […]
Iron ore prices were largely steady in March, hovering around $100–102 per dry metric ton (dmt) in a quiet market.
The ferrous scrap export market has been thinly traded thus far in April in the Atlantic Basin.