Category: SMU

The market activity for pig iron imports in the US has been limited recently. However, there have been two cargoes transacted from Brazil as well as continuing imports from India.

SMU's Current Steel Buyers' Sentiment Index inched up this week while the Future Sentiment Index edged down, according to our latest market survey.  

If you’re looking for a deal on steel, this last week wasn’t the one to find one. (Nor was the week before that. Or the week before that.) Meanwhile, contract negotiations are heating up in one of the tightest markets since at least 2021. I've heard discounts will be lower, min-max ranges will be tighter, and there will be less freight equalization and waiving extras.

U.S. Steel has restarted the No. 14 blast furnace at its Gary Works in northwest Indiana after a $350 million reline.

Most steel buyers responding to our latest market survey reported that mills continue to hold a firm grip on prices. Negotiation rates remain low on all sheet and plate products. In late August, the share of buyers reporting that mills were negotiable fell to the lowest rate seen in almost five years, and that rate was unchanged through this week.

The results of the latest SMU flat-rolled market survey are now available on our website to all premium members.

Steel mill lead times held steady for sheet products this week and extended further on plate, according to buyers responding to our latest market survey. Production times have been historically long for most of the summer, currently at or near multi-year highs on each of the products we measure. Over two-thirds of the buyers responding to this week’s survey (68%) believe lead times will be flat two months from now, similar to recent surveys. Of the remainder, 19% predict lead times will extend further, and 13% expect contractions.

Ferrous scrap prices have landed largely sideways this month, sources told SMU. The market quickly settled on Wednesday as 90% of the buying concluded, according to sources in several districts. It appears steelmakers decided there was no point in possibly disrupting flows with their strong forward order book and exceptional spreads between finished steel and current scrap costs.

The US Department of Commerce has made a preliminary subsidy determination in the trade case targeting imports of oil country tubular goods (OCTG), while also postponing the initial decision in the dumping portion of the case.

Flat-rolled steel prices inched higher again this week, continuing a trend that has characterized the market for most of this year. SMU’s hot-rolled (HR) coil price now stands at...

Vehicle affordability pressures are limiting growth in vehicle volumes, according to Mark Strand, deputy chief economist at Cox Automotive. SUVs, fleet activity, and aftermarket work could support steel demand, he told the audience last week at Steel Summit 2026 in Atlanta.

Ferrous scrap prices could be poised for a sideways move in September as supply and demand are seemingly in reasonable balance, sources told SMU.

Rather than recruiting other countries to help, the US appears intent on threatening to punish countries, including its closest friends. In my experience, this strategy has never proved productive. 

Panelists on the trade panel at SMU Steel Summit 2026 reflect on issues affecting the industry.

Data center construction is supporting US nonresidential construction activity and steel demand, according to Eric Gaus of Dodge Construction Network.

Baker Hughes’ latest data shows US oil and gas drilling activity was steady this week at a multi-month high, while activity slowed slightly in Canada.

Leading steel analysts gave their forecasts for 2027 pricing and market dynamics at Steel Summit 2026.

Tight steel availability and lean inventories are increasing pressure on US service centers, according to speakers on a service center panel on Wednesday, August 26, at the SMU Steel Summit 2026.

The total volume of raw steel produced by mills around the globe eased for the second month in a row in July to an estimated 149.2 million metric tons (mt), according to the latest World Steel Association figures.

First, a big thank you to everyone who attended SMU Steel Summit this week and the inaugural AMU Aluminum Summit as well. I’m not going to crow too much about it being another record year in terms of attendance. But it was—and you made that possible. Also, it’s always great to see the entire steel […]

“I think this will be a year of economic growth,” the economist said in his Sylvester Stallone-themed keynote discussion at the SMU Steel Summit this week in Atlanta. He estimates real GDP growth of about 2.0-2.3%.

SMU’s average price for domestic hot rolled (HR) rose to $1,200 per short ton (st) week on week (w/w). In offshore markets, prices also rose, outpacing stateside gains.

Nucor Corp. has begun commissioning the melt shop at its new, $4 billion sheet mill in West Virginia, according to Noah Hanners, the company’s EVP of sheet. The pickle line is producing, the electric-arc furnace has been fired up, and steel production is expected soon.

SMU welcomed to the stage George Adams for a Fireside Chat at the 2026 SMU Steel Summit on Wednesday.

Barry Zekelman supports durable, predictable steel trade protection—and the Section 232 tariffs in particular—as a foundation for reinvestment in domestic manufacturing capacity.

Algoma Steel’s Piyush Shukla has been named the 2026 SMU NexGen Leadership Award winner.

New anti-dumping and countervailing duties (AD/CVDs) on rebar imports from three nations will officially take effect after a key vote.

Sheet prices mostly ticked upward again this week on a series of factors long familiar to the market: long lead times, limited spot availability, and solid demand.

Barry Schneider, Steel Dynamics’ president and COO, and chairman of the Steel Manufacturers Association (SMA), said transshipment is a central trade policy concern. Speaking during a fireside chat Monday afternoon at the SMU Steel Summit 2026 in Atlanta, he identified steel, fabricated products, and pipe as areas exposed to potential leakage through the two USMCA partners.

SMU’s average price for domestic hot rolled (HR) rose to $1,195 per short ton (st) week on week (w/w). In offshore markets, prices saw a more controlled rise.