Steel market chatter this week
Steel market chatter from our most recent survey.
Category: SMU
Barry Zekelman says it's a 'fantastic' time for steel in the US
SMU sits down with Barry Zekelman to talk North American trade and the state of the US and Canadian steel industries.
Price gap between US HRC, imports narrows
The price gap between stateside hot band and landed offshore product shrank week over week (w/w).
SMU Steel Demand Index falls back, remains in contraction
The SMU Steel Demand Index slackened from late October, remaining below expansion territory, according to SMU's mid-November indicators.
Scrap export market sees activity but no price boom
The bulk scrap export market has experienced a great deal of action lately, but that has not resulted in runaway pricing.
Final Thoughts
Sheet prices are in the middle of one of their most sustained rallies since the first quarter, and this time in the absence of any tariff or trade policy shocks.
SMU price ranges: Sheet and plate prices rise further
SMU’s price indices increased across the board this week, reaching new multi-month highs.
SMU Mill Order Index jumped in October
SMU’s Mill Order Index (MOI) surged in October after a notable decline the month prior. The recovery came as service center on order inventory totals picked up, supported by a slight uptick in shipments, according to our latest service center inventories data.
US scrap market picks up steam
The US scrap market is showing some signs of strength in certain regions shortly after the November settlements finalized without detectable resistance.
October service center shipments and inventories report
US service centers’ flat-rolled steel supply edged lower for the third straight month, reaching 53.3 shipping days of supply on an adjusted basis at the end of October, according to SMU data.
Final Thoughts
Rising prices and stable demand is not a bad way to slide into the ending of 2025.
Heating and cooling equipment shipments weakened through September
US shipments of heating and cooling equipment fell 7% in September from August to the lowest monthly rate of the year, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
SMU Survey: Current Sentiment falls, Future Sentiment ticks up
SMU’s Current Steel Buyers’ Sentiment Index slipped this week while Future Sentiment inched up, according to our most recent survey data.
Final Thoughts
Scrap keeps on trucking, shutdown or not.
Low demand amid mill price hikes confounds sheet market participants
US sheet market participants say demand for hot- and cold-rolled coils has not increased, leaving them confused by mill price increases and average lead times.
SMU Survey: Sheet lead times inch higher, plate shrinks
Steel mill lead times extended marginally this week on most sheet products but declined for plate, according to responses from SMU’s latest market survey.
SMU Survey: Buyers say mills less willing to negotiate prices
Just over half of the steel buyers who responded to our market survey this week reported that domestic mills are willing to talk price on new spot orders. Mills have begun to hold a firmer stance on prices over our last two surveys.
Gap between US HR prices and imports widens slightly
The price gap between stateside hot band and landed offshore product has marginally widened week over week.
Miller on Raw Materials: Pig iron market slows down
The pig iron market is at a standstill since the last sale to the US several weeks ago.
HRC vs. prime spread widens again in November
The price spread between HRC and prime scrap has widened for a second month, based on SMU’s most recent pricing data.
Final Thoughts
A history of EAF steelmaking.
SMU Price Ranges: Sheet and plate products inch higher
SMU's sheet and plate steel prices moved higher in unison this week.
November scrap tags settle sideways, sources say
November ferrous scrap prices landed even with October as the market settled, sources told SMU.
Final Thoughts: Strong leaders forge stronger metals' industry success at AMWI
Anyone standing near the Sheraton Grand at Wild Horse Pass in Phoenix, Az undoubtedly felt a kinetic charge this week. Professionals from coast-to-coast convened in the posh desert oasis for the Association of Women in the Metals Industry (AMWI) 2025 conference. Amidst the metals crowd were those leading teams and organizations through the heat of the 2025 moment.
SMU Scrap Survey: Sentiment Indices decline
SMU’s Current and Future Sentiment Indices for scrap decreased this month, based on the latest data from our ferrous scrap survey.
Scrap Market Chatter in November
A sampling of SMU scrap survey respondent answers from November.
SMU scrap market survey results now available
SMU’s November ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “ferrous scrap survey” results. Past scrap survey results are also available under that selection. If you need help accessing the survey […]
HR Futures: Market waits with bated breath for next driver
The market has entered into a bit of a quiet recalibration, the kind of pause that feels like a held breath. Prices have stopped falling. Lead times have stretched just enough to create firmer footing. The urgency of downside risk has faded, but maybe (not quite yet) moved on.
Gap between US HR prices and imports narrows
The gap between US hot band prices and imports narrowed slightly. But with the 50% Section 232 tariffs, most imports remain more expensive than domestic material.