Category: SMU

Cleveland-Cliffs Inc. has reportedly signed "unusually long" fixed-price supply agreements with multiple US automakers.

U.S. Steel, Allegheny County executive Sara Innamorato, and Pennsylvania Gov. Josh Shapiro clarified details from early reports about the Clairton Coke Works facility explosion just one day earlier.

Cold-rolled (CR) coil prices continued to decline in the US this week, while prices in offshore markets diverged and ticked higher.

Reporting and enforcing steel tariffs are two top–of-mind concerns for US manufacturers, the US Customs and Border Protection agency, importers, and others across the supply chain.  

In July, US service centers’ flat-rolled steel supply increased month on month, following the seasonal summer trend of inventory build with slowing shipments.

We're getting ready to initiate the 10-day countdown until Steel Summit 2025 in Atlanta. Liftoff is on Aug. 25, and the conference goes through Aug. 27. With the speed at which things have moved this year, it will be great to take a breath and reflect on what's happened so far.

Market participants said they have high hopes that the stable hot-rolled spot market will improve as the year rolls on.  

On Monday and Tuesday of 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.

Hot-rolled (HR) coil prices in the US declined again last week, while offshore prices ticked higher again week over week (w/w).

The price spread between prime scrap and hot-rolled coil (HRC) narrowed in August, according to SMU’s most recent pricing data.

The latest SMU Community Chat webinar reply featuring Lewis Leibowitz, trade attorney and SMU columnist, is now available on our website to all members.

Yesterday’s tragedy and loss of life at U.S. Steel’s Clairton Works is a stark reminder of how important safety in the workplace really is.

All five of SMU's steel sheet and plate price indices declined this week, falling to lows last seen in February.

Sources in the carbon and alloy steel plate market said they are less discouraged by market uncertainty resulting from tariffs or foreign relations, but are instead, eager to see disruption to the flat pricing environment.

Total heating and cooling equipment shipments eased from May to June, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute.

The amount of finished steel coming into the US market increased 3% from May to June, climbing to one of the highest rates seen in recent years, according to SMU’s analysis of Department of Commerce and American Iron and Steel Institute (AISI) data

US steel mills have ramped up output since April, with weekly production increasing in all but four of the past 16 weeks.

The Dodge Momentum Index (DMI) jumped 20.8% in July and is now up 27% year-to-date, according to the latest data released by Dodge Construction Network.

Nucor has implemented a double-digit price decrease on spot hot-rolled (HR) coil for the second consecutive week.

What are our scrap survey participants saying about the market?

Hot-rolled (HR) coil prices in the US declined again last week, while offshore prices increased week over week (w/w).

Oil and gas drilling in the US slowed for a third consecutive week, while activity in Canada hovered just shy of the 19-week high reached two weeks prior.

This week’s SMU survey reveals that a growing number of steel market participants are weary of tariffs and are awaiting evidence of progress reshoring.    At the start of 2025, now-second-term President, Donald Trump, pronounced that his plan to implement tariffs would result in increased revenue for the US.

Both SMU Sentiment Indices continue to show that buyers remain optimistic for their company’s chances of success, though far less confident than they felt earlier in the year.

SMU’s Aug. 8, 2025, steel buyers market survey results are now available on our website to all premium members.

The volume of steel shipped outside of the country in June fell 3% from the prior month to 618,000 short tons (st), according to recently released data from the US Department of Commerce.

What the word "sideways" means can depend on where you sit on the procurement spectrum.

Following January’s pre-tariff surge, imports have remained low since February compared to post-pandemic volumes

Hot rolled spot market participants reported another week of moderate demand and ample supply, with no strong signs that conditions will change next week. 

SMU’s Monthly Review provides a summary of our key steel market metrics for the previous month, with the latest data updated through July 31.