SMU Survey: Mills hold firm on prices, most buyers say
Most steel buyers report that domestic mills are unwilling to negotiate price on new sheet and plate spot orders.
Category: SMU
Miller on Scrap Exports: Muted Turkish activity
Freight rates have remained high in the US and Northern Europe, and there has been little or no activity in the Mediterranean region since our last export update on March 10.
Apparent steel supply inched up in January
Apparent steel supply increased from December to January, but remains on the low side compared to recent years.
February service center shipments and inventories report
US service centers’ flat-rolled steel supply declined for a second consecutive month in February, with shipping days of supply slipping to 52.2 on an adjusted basis, according to SMU data.
SMU Price Ranges: Sheet and plate markets tick higher
Prices for both sheet and plate products climbed higher this week, with some rising to multi-year highs, according to SMU's latest market canvass.
Final Thoughts
While decarbonization has fallen out of the headlines a bit, that doesn't mean it's gone away. Tariffs, geopolitical instability, outright war... there has been a lot to write about in the last year.
Heating and cooling equipment shipments fall back in January
Heating and cooling equipment shipments declined in January to the second-lowest rate recorded over the past nine years.
US ferrous scrap market still affected by weather
The weather is still influencing the recycled metals market as we head into spring, sources say.
Steel exports recover in January, still historically weak
US steel exports jumped 33% in January but remain historically low, according to recently released US Department of Commerce data.
Final Thoughts
The US steel market is already characterized by high prices and tight supplies, and I wouldn't be surprised if prices move higher and supplies get even tighter – at least in the short term.
SMU Community Chat: SA Recycling's Adams 'overflowing' vision for US
SA Recycling's CEO George Adams couldn't be more upbeat about American industry.
Steel imports remain low in January and February
Steel imports remained close to multi-year lows in January and February, according to US Commerce Department data released this week.
Sheet market weighing cost of postponing orders amid spot price hikes
This week sources said spot prices on hot-rolled coils increased modestly.
Drilling activity increases in US, falls in Canada
The latest tally of active oil and gas rigs increased in the US this week but declined in Canada, according to figures recently released from Baker Hughes.
Final Thoughts
It's been just two weeks since the US and Israel launched a joint attack on Iran. And markets are still in flux as we wade through conflicting messages from the administration on what the goals are when it could be over.
Spread between US HR prices and imports widens
The price gap between US hot-rolled coil (HR) and landed offshore product widened this week, as stateside tags were little changed.
Business conditions indicate market's increasing strength: Plate sources
Domestic plate market participants expressed confidence in the overall improvement of market conditions this week.
Steel market chatter this week
Earlier 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.
Miller on Pig Iron: US-Brazil trade gains strength
The pig iron market in the Brazil-to-US trade flow is showing strength as supply concerns and increased logistical costs impact recent sales negotiations.
HRC vs. prime scrap spread widens further in March
The spread between domestic hot-rolled coil and prime scrap prices widened in March, marking a six-month trend.
Final Thoughts
Sometimes it feels like current events are like a fireworks show that got set off all at once by mistake. In all the commotion, it's hard to know where to look... or where to run.
SMU Price Ranges: Sheet and plate flat or up as tight market keeps pricing power with mills
SMU's sheet and plate prices were flat or higher this week in a US market that remains characterized by extended lead times and limited spot availability.
AISI: Raw steel production slips, but still near multi-year high
Raw production has trended upwards since the start of the year, reaching a four-year high in February.
Final Thoughts: A strong market collides with war uncertainty
Prices are moving up and lead times moving. And most people expect them to continue to do so for a little while longer, according to our latest survey results. But there is one big wildcard: the Iran war.
Plate sources eye imports, cite domestic supply concerns
Plate sources say they’re welcoming imports as domestic mill delivery delays, extended lead times, and climbing prices make fully adopting US-produced plate products unrealistic.
Price gap between US CR, most imports narrows
Cold-rolled (CR) coil prices ticked up in the US this week, matching a similar trend seen in most offshore markets as well.
Ferrous scrap market chatter this month
Market participant comments from this month's SMU Ferrous Scrap Survey.
Oregon Steel and SSAB aim to push plate prices higher
Oregon Steel Mills and SSAB Americas announced higher plate prices to close out the week.
SMU Scrap Survey: Current Sentiment ticks up, Future Sentiment flat
SMU’s Current Sentiment Index for scrap inched up in March, according to the latest data from our ferrous scrap survey. Meanwhile, the Future Sentiment Index remained locked at the same level for the fourth consecutive month.
SMU Survey: Buyers' Sentiment Indices inch higher as market remains optimistic
Steel buyers remain optimistic for their current and future business prospects, though not as strong as they did one year ago.