Category: SMU

The results of the latest SMU flat-rolled market survey are now available on our website to all premium members.

If a trend of flat lead times holds, it would represent a change. And we’ve also seen a few of the other indicators we track slip from historic highs – so the potential shift is worth paying attention to.

The scrap market for July is partially settled except for the three largest scrap buyers in the country.

Steel mill lead times for flat-rolled steel this week remained extended at historical highs. Plate production times crept out further, while hot-rolled and cold-rolled (HR/CR) coil saw minor contractions.

The majority of steel buyers we polled this week reported that mills are holding firm on new order spot prices.

A snapshot of our scrap market survey with some respondent comments included.

SMU’s Current Sentiment Index for scrap increased in July as Future Sentiment slipped, according to the latest data from our ferrous scrap survey.

Wire rod imports from Algeria face new countervailing duties (CVDs) in the US.

SMU’s average price for domestic HR was unchanged vs. last week. In offshore markets last week, while prices diverged, the dynamic between stateside and imported product varied little.

Market reaction to Nucor’s move was mixed. Some sources said a flat CSP reflected concerns that further increases in US HR prices could attract more import competition. Others expressed frustration. Their view: CSP has kept a lid on prices, something that shouldn’t happen when many buyers remain more concerned about availability than price.

The scrap export market in both Europe and the US continued to decline after the activity of last week became confirmable.

The investigation follows requests from US producers Nucor and Steel Dynamics.

Oil and gas drilling activity in the US picked up over the past week, while drilling in Canada slowed, according to the latest Baker Hughes rig counts.

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.

Imports from Europe are at parity with domestic hot rolled, while Southeast Asian products remain at a considerable discount. The result comes because a stateside rally coincides with faltering offshore prices.

Cleveland-Cliffs plans to upgrade its ironmaking process at Middletown Works, according to a permit filing with the Ohio EPA.

We asked our readers what they thought the outcome of the ongoing USMCA talks might be as far as Section 232 tariffs go. Very few see an elimination of tariffs as likely.

The significant earthquakes in Venezuela could delay scrap exports, sources told SMU.

We’ve gotten so used to the slow, steady increases by now that $5/ton feels like the new flat. And flat, after so many consecutive weeks of gains, feels like a decrease.

Hot-rolled (HR) coil and plate prices continued to tick higher even as cold-rolled (CR) and coated prices came in unchanged, according to SMU’s latest check of the market.

North American steel buyers are navigating a market where demand is firming, but import activity remains cautious. Buyers reported mixed import activity in SMU’s June 26 flat-rolled steel buyers’ survey.

After the domestic scrap market wrapped up the first half of the year on a positive note, will July follow suit?

Total US raw steel output declined last week for the third-consecutive week but remains historically strong.

As all these initiatives unfold, one is left with the feeling that disruption of the global order is their primary purpose. As the old order is destroyed, it is time to think carefully about what will take its place.

Both Steel Buyers’ Sentiment Indices continue to indicate that steel buyers are confident in their companies’ prospects today, as well as in the months ahead.

Hybar LLC broke ground Friday on its second rebar mill in Osceola, Ark., accelerating one of the fastest expansion runs the US long-products sector has seen in years.

Cold-rolled coil prices moved higher in the US this week, as offshore prices trended lower. Imports are, as a result, increasingly more competitive, even with the 50% Section 232 tariff.

Consolidation continues in the HSS (hollow structural sections) sector, with two big deals announced just this month.

What comes next? Do prices plateau and then dip in late Q3/Q4 – which is what we saw in 2021? Or do they continue to rise into 2027?

Steel mill lead times remained extended this week on both sheet and plate products. Current production times three to four weeks longer than levels seen last summer.