Category: SMU

SMU’s current Scrap sentiment index increased this month while future sentiment declined, according to our latest ferrous scrap survey data.

Shipments of iron ore across the Great Lakes dropped to 5 million short tons (st) in August, according to the latest data from the Lake Carriers’ Association. That’s down 9.1% compared to August 2024 and 2% lower than the month’s 5-year average. All told, the year-to-date (YTD) iron ore volumes through August totaled 26.7 million […]

SMU’s September ferrous scrap market survey results are now available on our website to all premium members.

Nucor kept hot-rolled (HR) coil prices unchanged this week, according to its latest consumer spot price (CSP) notice on Sept. 8.    

A recurring theme in conversations with some of you and in the comments submitted in our surveys is concerns about demand and uncertainty around tariffs. Where does SMU’s latest opinion polling on President Trump’s tariffs stand? Let’s take a look at the numbers.

Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on. 

Drilling activity increased in both the US and Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.

Robert Kopf has been on U.S. Steel's acquiring side and is now part of the steelmaker's partnership with Japan’s Nippon Steel, and he sees bright days ahead for the steelmaker.

SMU’s Steel Buyers’ Sentiment Indices ticked higher this week, according to the latest data from our flat-rolled steel survey.

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

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

The Brazilian-US pig iron market has remained quiet, market sources told SMU.

he US longs market remained stable this month despite ongoing challenges from tariff-impacted imports, even as end-use demand was relatively unchanged and scrap prices held flat in August.

I’ve been getting some calls lately from some of you who want to kick around ideas on where prices might bottom and when.

Sheet and plate lead times held steady yet again this week, according to steel buyers responding to our latest market survey, a trend in place since May.

The majority of steel buyers responding to this week’s market survey continue to report that mills are open to negotiating spot prices on sheet and plate products.

Domestic hot-rolled (HR) coil prices were flat this week for a third straight week. Offshore prices all moved higher w/w, widening the margin between stateside and foreign product.

The chief executives from Majestic Steel, Olympic Steel, and Worthington Steel swapped notes on inventory discipline, customer trust, and the race to turn AI from hype into results.

Private equity firm FalconPoint Partners has acquired SMS, an industrial service provider.

US manufacturing activity remained muted in August despite a marginal gain from July's recent low, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.

Could an upcoming BRICS meeting spell trouble for President Trump's trade policy?

SMU’s hot-rolled (HR) coil price held steady this week while prices for other sheet and plate products declined.

Kimberlie Henry of Ace Steel is the recipient of the 2025 SMU NexGen Leadership Award. 

US steel production slipped in the week ending on Aug. 30 after an increase the week before, according to the most recent data from the American Iron and Steel Institute.

Ternium CEO Máximo Vedoya predicts that China is going to reduce its steel overcapacity.  

Nucor kept its weekly list price for hot-rolled (HR) coil unchanged this week, following a price bump of $10 per short ton (st) last week.

Nucor’s Dan Needham views the steelmaker’s flexibility and diversification as key to pivoting when economic conditions require.

Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.

Thais Terzian, principal analyst at CRU, gave a presentation of Ore-Based Metallics(OBM), namely pig iron and direct-reduced iron (DRI), and how important they are to the global steel industry.

Another record-breaking SMU Steel Summit is in the books. Thanks to all of you – attendees, speakers, sponsors, and exhibitors – for making it possible it in what has been an uncertain year for steel.