Category: SMU

In this Insight piece, CRU economists explore the possible economic effects of Trump's and Harris' agendas.

U.S. Steel plans to increase sheet prices by at least $30 per short ton (st). That's something we haven't seen for a while.

SSAB Americas plans to increase plate prices by at least $60 per short to, according to a letter to customers dated Thursday, Oct. 24. The higher prices are effective immediately for all new non-contract orders scheduled to ship on or after Dec. 2.

More than nine out of every 10 steel buyers polled by SMU this week reported that mills are flexible on prices for new orders. Negotiation rates have been strong since April and on the rise since early September.

The construction sector added 25,000 jobs in September, driven by labor shortages and improved wages, according to data released by the US Bureau of Labor Statistics.

Mill lead times have declined on both sheet and plate products this week, according to steel buyers responding to our latest market survey,

U.S. Steel aims to increase spot prices for all new orders of flat-rolled steel by at least $30 per short ton (st), according to an internal letter dated Thursday.

SMU's hot-rolled (HR) coil price slipped this week to $685 per short ton (st) on average. We also adjusted our sheet momentum indicators to lower for the first time since July.

Steel prices ticked lower again this week for most of the products SMU tracks. Our indices have declined as much as $40 per short ton (st) across the last four weeks.

Steelmaking raw material prices strengthened for all but one product in October, a change in pace compared to recent months, according to SMU’s latest analysis.

While up over the week prior, domestic raw steel mill production remains near one of the lowest rates recorded this year.

When a mapmaker constructs a map, it’s always to the contours of the land. Or sea. That is, the mapmaker doesn’t say, “Look, these rocks really don’t belong here, so I’m not going to include them in the harbor map.” Uncharted rocks, sink ships (along with loose lips).

US rig counts continue to hover near multi-year lows, a trend observed since July. Canadian activity remains strong, just a few rigs shy of a seven-month high.

The price spread between hot-rolled coil (HRC) and prime scrap narrowed marginally in October, according to SMU’s most recent pricing data.

We had an October surprise here at SMU on Wednesday. I was working from the CRU office in Pittsburgh, and the internet connection briefly went out. As luck would have it, that happened smack in the middle of a live Community Chat webinar. Fortunately, my colleague David Schollaert stepped in, Zekelman Industries CEO Barry Zekelman rolled with the punches – and the show went on. Could there be any more October surprises in store for us and for the steel market?

The volume of finished steel entering the US market declined in August from July, according to SMU’s analysis of data from the US Department of Commerce and the American Iron and Steel Institute (AISI). Referred to as ‘apparent steel supply,’ we calculate this monthly rate by combining domestic steel mill shipments and finished US steel imports and deducting total US steel exports.

Prices, demand, inventories, evolving market events... What are buyers and sellers of steel talking about this week?

We just wrapped up another Steel 101 workshop, easily the most hands-on industry workshop on steelmaking and market fundamentals, in this humble opinion. Last week on Tuesday and Wednesday, SMU’s Steel 101 was held in Starkville, Miss.

Steel sheet prices mostly edged lower for a second week, while plate prices slipped for the third consecutive week.

August now represents the second-highest monthly shipment rate recorded in the last two years, just below the 2.16 million units rate recorded in June.

The amount of steel exiting the country in August reached the highest monthly rate recorded since August 2023.

Nucor’s top executive Leon Topalian has been elected vice chair of the World Steel Association (worldsteel) for the 2024-25 time period.

Flat rolled = 60.8 shipping days of supply Plate = 52.7 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers declined in September, though still seasonally high. September’s report reflects lower demand, stable lead times, and restocking early in the third quarter at a perceived bottom in prices. At the end […]

Domestic raw steel mill production slightly recovered last week, according to the latest figures released from the American Iron and Steel Institute (AISI).

The World Steel Association (worldsteel) has made significant downward revisions to its Short Range Outlook for global steel demand.

After holding its weekly spot price for hot-rolled (HR) coil steady for three weeks at $730 per short ton (st), Nucor lowered the price this week by $10/st.

Everybody has an opinion about politics these days. More importantly for our readers, though, every business has a bottom line. A popular question in our most recent steel buyers survey asked how uncertainty around the upcoming US presidential election could affect that line.

August steel imports totaled 2.38 million short tons (st) according to final data released this week by the US Commerce Departmen

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 […]

The American Iron and Steel Institute (AISI) this week named two new board members: Neil Tannyan of Hatch and Doug Dunworth of SMS Group.