Category: SMU

Will more DRI investment come to the US?

Nucor aims to keep plate prices flat again with the opening of its August order book.

Nucor has raised its weekly spot price on hot-rolled coil by $10 per short ton after holding it steady last week.

Based on the amount of ‘out of office’ replies we’ve been receiving and the results of this week’s steel buyers’ survey, those pesky summer doldrums have arrived for the steel industry.

CRU analysts Thais Terzian and Frank Nikolic will be the featured guests on the next SMU Community Chat on Wednesday, July 9, at 11 am ET. The live webinar is free for anyone to attend. A recording will be available to SMU subscribers.

A roundup of trade news, what's up with Brazilian pig iron, SMU's latest survey results and more to keep you up to date.

Oil and gas drilling activity declined for the ninth-consecutive week in the US, while Canadian counts rose for the fourth straight week, according to Baker Hughes.

Both of SMU’s Steel Buyers’ Sentiment Indices edged higher this week. Current Sentiment rebounded from a near five-year low, while Future Sentiment rose to a two-month high

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

Maybe some of this uncertainty will get ironed out ahead of Liberation Day tariffs resetting higher rates on July 9. But if I had to place a wager, it would be on more drama and last-minute brinksmanship - whether it comes to the Liberation Day tariffs or the various Section 232s that are in the works.

Following the uptick seen two weeks ago, lead times eased this week for all four sheet products tracked by SMU, while plate lead times held steady, according to this week’s market survey.

“Contractors say that they're still busy, but their order books have gotten a lot softer or a lot more uncertain,” said Ken Simonson, chief economist for The Associated General Contractors of America.

Steel market participants contend that buyers will remain in “wait-and-see" mode until some market stability is restored. 

The majority of steel buyers responding to our latest market survey say domestic mills are more willing to talk price on sheet and plate products than they were earlier this month. Sheet negotiation rates rebounded across the board compared to early June, while our plate negotiation rate hit a full 100%.

CRU analysts Thais Terzian and Frank Nikolic will be the featured guests on the next SMU Community Chat on Wednesday, July 9, at 11 am ET.

The latest SMU Community Chat webinar reply featuring Ken Simonson, chief economist for The Association General Contractors of America (AGC), 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 […]

As of June 24, the premium galvanized coil carries over hot-rolled coil is just $5 per short ton (st) above the lowest level recorded in almost two years.

What should you keep your eye on, considering the latest geopolitical events?

Prices for steel sheet slipped this week despite Section 232 tariffs remaining at 50% and a US strike on nuclear facilities in Iran over the weekend.

SMU’s Mill Order Index (MOI) declined for a third straight month in May, but only marginally.

Subsidized Chinese steel imports and cheap steel products from Association of Southeast Asian Nations (ASEAN) entering Latin American (LATAM) are threatening the region's steel market.

US steel mills have ramped up raw production since April, with weekly output steadily increasing in nearly every week since.

The resistance Brazilian pig iron sellers had shown to accepting lower prices has proved short-lived, sources told SMU.

Nucor maintained its weekly list price for hot-rolled (HR) coil this week, following two consecutive increases.

Not many people in the North American steel market had direct US involvement in another Middle East conflict on their bingo card. Prices weren't expected to shoot higher unless something unexpected happened. That unexpected something has now happened. And there is talk of oil at $100 per barrel. What does that mean for steel?

We’ll have a lot to talk about because construction is at the intersection of so many of today’s hot-button issues. The main question: Will construction thrive or dive in the rest of ’25? (Nothing wrong with a rhyme, even in serious times.)

US cold-rolled (CR) coil prices continued to tick higher this week, while offshore markets were mixed.

Your highlights on the week in trade developments, price increases, scrap news, and more.

Oil and gas drilling activity declined in the US again this week the US, while Canadian counts improved, according to Baker Hughes.

The forceful headwinds bearing down on steel markets across the globe have created demand challenges and sent prices southward. The US, however, challenged the global trend.