Category: SMU

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

All districts reported “experiencing modest to pronounced input cost pressures related to tariffs, especially for raw materials used in manufacturing and construction.”

Stateside prices continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.

The volume of finished steel entering the US market remained elevated in May, in line with April figures, according to SMU’s analysis of Department of Commerce and American Iron and Steel Institute (AISI) data

Flat rolled = 55.8 shipping days of supply Plate = 59.4 shipping days of supply Flat rolled US service centers’ flat-rolled steel supply edged down in June with a modest boost to shipments month on month (m/m). At the end of June, US service centers carried 55.8 shipping days of flat roll supply, down from […]

Is outer space steel's final frontier?

US sheet and plate prices were flat or lower as reduced import volumes were offset by so-so demand.

Nucor is holding its list price for spot hot-rolled coil at $910 per short ton (st), unchanged since June 30.

President Trump’s tariff policies have a lot more in common with a roundabout than you’d think.

A roundup of steel industry news that happened this week, as reported by Steel Market Update.

Both current and future scrap sentiment jumped this month, though survey participants reported responses before key trade news was announced.

Heating and cooling equipment shipments grew from April to May, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).

CRU Principal Analyst Shankhadeep Mukherjee expects a restocking cycle for steel sheet products in most parts of the world due to either low inventories or seasonally stronger demand.

The price spread between prime scrap and hot-rolled coil widened marginally again in July.

US oil and gas drilling activity continued to decline for the 11th consecutive week, while Canadian counts climbed for the sixth week in a row, according to the latest data from Baker Hughes.

SMU’s Steel Buyers’ Sentiment Indices moved in opposite directions this week. After rebounding from a near five-year low in late June, Current Sentiment slipped again. At the same time, Future Sentiment climbed to a four-month high. Both indices continue to show optimism among buyers about their company’s chances for success, but suggest there is less confidence in that optimism than earlier in the year.

SMU’s 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 results […]

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 difference: The spat with Turkey was a big deal for steel. This time, the 50% reciprocal tariff for Brazil – if it goes into effect as threatened on Aug.1 – hits everything from coffee and to pig iron. It seems almost custom-built to inflict as much pain as possible on Brazil.

Mill lead times for sheet products were steady to slightly longer this week compared to our late June market check, while plate lead times contracted, according to steel buyers responding to this week’s market survey.

Hot-rolled (HR) coil prices in the US ticked down this week but have fluctuated little over the past month. Stateside tags continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.

Domestic mills are more open to talk price on new orders than they were in June, according to most steel buyers responding to our market survey this week. Negotiation rates have recovered from the early-June lull and are now just a few percentage points shy of the high levels seen late last year.

The announcement of 50% tariffs on Brazilian imports, including pig iron, could have a dramatic effect on steelmaking raw materials.

With steel prices drifting and trade flows shifting, CRU analysts provided a grounded look at what's really happening — and what's not — across the metallics supply chain during Wednesday's SMU Community Chat.

President Donald Trump on Wednesday said he would increase the “reciprocal” tariff on imports from Brazil to 50% effective Aug. 1. That could have big implications for pig iron.

Institute for Supply Management CEO Tom Derry will join SMU for our next Community Chat on Wednesday, July 23, at 11 a.m. ET (10 a.m. CT)

The latest SMU Community Chat webinar reply featuring Thais Terzian and Frank Nikolic of CRU Group, 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 selection. If you need […]

Are we on the cusp of sorting out the tariff situation, or is this merely another round in the bout?

Sheet and plate prices slipped this week on so-so demand, sideways scrap prices, and chatter that certain mills were making unsolicited calls looking for tons.

Following one of the lowest levels seen in more than two years, US steel imports rebounded from April to May. However, trade remains low relative to recent years. Preliminary June license data suggests another decline, with licenses currently down 12% month over month (m/m).