Category: SMU

Respondents to the SMU Survey weigh in on the steel landscape.

The constant flow of information we all receive can be a little overwhelming, but SMU is here to help with a snapshot of the week.

SMU’s Buyers’ Sentiment Indices experienced multi-point declines this week, though both remain positive and continue to reflect optimism among steel buyers for their companies' ability to be successful.

The number of active oil and gas drill rigs declined this week in both the US and Canada, according to the latest data from Baker Hughes. US rig counts remain just above multi-year lows, while Canadian activity continues its seasonal slowdown.

Scrap buyers sound off on prices, demand, etc., in SMU's monthly scrap survey.

Who could’ve guessed that the first stage to follow liberation would be confusion. Well, when things get this liberated this fast, perhaps it’s to be expected. From the 30,000-foot view, “Liberation Day” didn’t have a significant impact on steel tariff-wise. That is, the Section 232 steel and aluminum tariffs stand alone from the reciprocal tariffs […]

US steel trade groups representing mills had a far more positive reaction to President Trump’s “Liberation Day” than the leading recycled metals association.

Buyers responding to our latest market survey reported that sheet lead times continue to gradually decline from recent highs. Meanwhile, plate lead times increased to levels last seen one year ago.

Four out of every five steel buyers who responded to our latest market survey say domestic mills are unwilling to negotiate on new order spot pricing. Mills have shown little flexibility on pricing for nearly two months.

The market breathlessly awaits the arrival of President Trump's "Liberation Day."

Sheet and plate prices were mixed on Tuesday as the market took a wait-and-see approach to the Trump administration’s “Liberation Day” tariffs.

The price of pig iron for the US market remains firm despite a potential drop in domestic ferrous scrap prices going into April.

SMU’s Monthly Review provides a summary of our key steel market metrics for the previous month, with the latest data updated through March 31.

Raw steel mill output from US mills rebounded last week, according to the American Iron and Steel Institute (AISI). Production is now at the highest weekly rate recorded so far this year.

I’m not sure what I can write today that won’t be old news after April 2. The Trump administration has dubbed Wednesday “Liberation Day.” Since it’s mostly about tariffs, let’s just call it “Tariff Day.” Or maybe we should call it “Tariff Week” – since tariffs typically dominate the news cycle in the first week […]

Anticipation leading up to SMU’s Steel Summit 2025 is already heating up after last year’s record-setting attendance!

The constant flow of information we all receive can be a little overwhelming, but SMU is here to help with a snapshot of the week.

Crowe's Doug Schrock explains how to get up and running with AI at your company.

US rig counts remain slightly above multi-year lows, while Canadian activity is slowing following a seasonal peak.

A personal perspective on Galvalume prices from SMU analyst Brett Linton.

The threat of tariffs over the past two months has been a springboard for US prices. But the Section 232 reinstatement on March 13 narrowed the domestic premium over imports on a landed basis.

This week, SMU polled steel buyers on an array of topics, including market prices, demand, tariff policies, inventories, imports, and emerging market events.

After a March frenzy, are prices nearing a peak in April? Some of you have suggested that they are. Others think it's too early to make any such call.

SMU's steel price indices moved in differing directions this week but remained largely stable as cautious buyers await clarity on pending steel tariffs and trade cases.

After eight weeks of double-digit price increases on hot-rolled (HR) coil, Nucor slowed the price rise this week with an increase of $5 per short ton.

Have we hit a bit of a lull when it comes to the recent price bump? Mills certainly capitalized on the threat of tariffs and the unknown, with much that still could unfold.

Despite the economic and geopolitical upheaval of the last five years, CMC President and CEO Peter Matt points out that the construction market has been an essential element of the way forward.

SMU’s Buyers’ Sentiment Indices showed mixed movements this week but remain strong, reflecting continued confidence among steel buyers.

Are President Trump's tariff policies helping? Steel buyers offer their opinions on the impact of Trump's tariffs.

From the Smoot-Hawley Tariff Act of 1930 to George W. Bush's temporary 30% tariff, SMU takes a look at steel tariffs past.