Category: SMU

What's on steel buyers' minds this week? We asked about market prices, demand, inventories, tariffs, imports, and other evolving market trends. Read on for buyers' comments in their own words...

Demand for plate on the spot market remains soft by comparison to years past. However, this week regional demand variations grew more pronounced.  

SMU’s average price for domestic HR coil moved $5 higher this week, while price movements in offshore markets varied. This dynamic...

Want to know the latest on Trump, tariffs, and trade policy - and the impact on both steel and aluminum? Then join SMU, AMU, and leading law firm Wiley for a Community Chat on Thursday, Nov. 13, at 11 am ET.

It's can-kicking at its finest. And it’s been drawn out! Some are getting so good at it, they’re kicking cans and taking names.

Our average HR coil price increased $5/short ton from last week, marking a second consecutive week of modest gains. Market participants generally attributed the increase to...

Domestic mill production rebounded last week, according to the latest production figures released by the American Iron and Steel Institute (AISI). Production had been historically strong over the summer months before softening in early October.

Medium- and heavy-duty trucks (MHDV) and buses imported to the US will start being charged Section 232 tariffs beginning Nov. 1.  

Nucor kept its consumer spot price (CSP) for hot-rolled coil at $875 per short ton (st) for the ninth straight week.

We just wrapped up another Steel 101 workshop, easily the most hands-on industry workshop on steelmaking and market fundamentals.

After marginally rising in August and September, the premium galvanized coil carries over hot-rolled coil (HRC) coil has narrowed again in recent weeks. As of Sept. 16, the spread between these two products has shrunk to a two-and-a-half-year low of $125 per short ton (st).

Genuine demand, they stated, will return when the market feels stable again.

FabArc Steel Supply announced this week the completion of two large-scale projects in Georgia and Mississippi.

US domestic sheet prices have remained rangebound in recent weeks as supply tightness met weak demand. Demand for steel produced in the US increased among some Mexican industrial buyers....

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

SMU’s Steel Buyers’ Sentiment Indices both fell this week, with Current Steel Buyers’ Sentiment notching the lowest reading since May 2020.

The US scrap market finds itself in a familiar position as we progress into the final quarter of the year. 

SMU’s average price for domestic hot-rolled (HR) coil was $800 per short ton (st) this week, up $5/st week on week (w/w). In offshore markets last week, prices were varied.

US scrap prices fell on busheling and shredded in October, while HMS remained flat, market sources told SMU.

Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.

Steel mill lead times ticked lower across most sheet and plate products this week, according to responses from SMU’s latest market check.

Mills are more willing to negotiate spot prices for both sheet and plate products, according to our latest market survey results.

September service center shipments and inventories report for sheet and plate

Musings on decarb, tariffs, and technology, and where it might be leading.

SMU’s HR price stands at $800/st on average, up $5/st from last week. The modest gain came as the low end of our range firmed, and despite the high end of our range declining slightly.

The World Steel Association (worldsteel) Short Range Outlook for global steel demand predicts that 2025’s steel demand will clock in at the same level as in 2024. In its October report, the Brussels-based association stated that this year’s steel demand will reach ~1,750 million metric tons (mt). The organization forecasts a 1.3% demand rebound in 2026, pushing […]

SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).

Nucor has left its consumer spot price for hot-rolled coil at $875 per short ton for the eighth straight week.

There are days when this feels like a “nothing ever happens” market. Don’t get me wrong. Plenty is happening in the world. It’s just that none of it seems to matter when it comes to sheet and plate prices.

The boom in China’s direct steel exports has not stopped this year, even with a rise in protectionist measures globally. The increase is driven by...