Category: SMU

The number of open construction jobs reached a record high in October as workforce shortages persist, the Associated General Contractors of America (AGC) reported.

‘Twas two weeks before Christmas, and at our publication We kept logging steel price increases from across our fair nation.

This year saw a huge increase in debate and proposals for addressing greenhouse gas emissions, not only here in the US but around the world.

US steel exports declined for the second month in a row in October, falling to the lowest monthly total so far in 2023.

The latest SMU 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.” Historical survey results are also available under that selection. If you need help accessing the survey results, […]

A count of November license applications suggests steel imports were at their lowest monthly level in 33 months.

SMU’s Current and Future Steel Buyers Sentiment Indices both fell during the week of Dec. 6, based on our most recent survey data.

We have seen a wave of service center transactions announced since the beginning of the month.

The Dodge Momentum Index (DMI) slipped in November due to a general decrease in slightly weaker commercial and institutional activity, according to the latest Dodge Construction Network (DCN) data.

The percentage of steel buyers saying mills were willing to budge on spot pricing has risen for all sheet products SMU surveys, according to our most recent survey data.

Movements in lead times were mixed in SMU’s check of the market this week – a reflection of the seasonal dip in ordering that is typically seen during the winter holiday season.

On Dec. 6, US Senator Sheldon Whitehouse (D-RI) reintroduced the Clean Competition Act, an environmental trade directive that would impose charges on imports from more carbon-intensive manufacturers.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel sheet prices, lead times, scrap prices, performance, purchasing, and demand. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your thoughts, too! Contact david@steelmarketupdate.com to be included […]

I want to thank the Heating, Air-conditioning & Refrigeration Distributors International (HARDI) for the opportunity to speak at their annual conference in Phoenix. I enjoyed the proceedings and participating in a panel for HARDI’s sheet metal/air handling council. I can’t recap all that we discussed in a few hundred words. But I’d like to share […]

Sheet prices shot higher again this week on the heels of another round of mill price increases as well as on reports of production and supply chain issues at certain domestic producers.

Steel prices continued to rally last month on the back of repeated mill price increases after tags reached a 2023 low of $645 per ton in late September. Hot-rolled coil (HRC) prices ended November at an average of $923 per ton ($46.15 per cwt), rising by $140 per ton during the month. The SMU Price […]

It’s no surprise why spot prices are on the rise: Mills have been announcing higher flat-rolled tags for the better part of the past three months, according to our steel mill price increase calendar. A leading cause of the $305-per-ton rally since prices reached a recent bottom of $645 per ton in late September has […]

Following the United Auto Workers (UAW) union strike, organized labor seems to be enjoying a moment.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, and what people were talking about in the market.

I want to address a few things in this 'Final thoughts': the latest SMU survey results, the plate market, and the potential sale of U.S. Steel.

SMU’s Current and Future Steel Buyers Sentiment Indices have both increased, based on our most recent survey data as of Wednesday, Nov. 22.

Lead times for all steel sheet products but cold rolled were extended last week as prices trend upwards.

The percentage of steel buyers saying mills were willing to negotiate spot pricing has fallen for all products SMU surveys, according to our most recent survey data.

Global steel output inched higher from September to October, even as production declined in China, the World Steel Association (worldsteel) said in its latest monthly report.

Sometimes a journalist’s life comes with unexpected perks. That is, beyond the day-to-day of writing stories, a wayward email can come across the Inbox with an attractive invite, and the promise of free food.

Steel Market Update will be taking time off in observance of Thanksgiving. Our offices will be closed on Thursday and Friday, Nov. 23–24. We will not publish an issue on Thursday, Nov. 23, or on Sunday, Nov. 26.

The 2024 Tampa Steel Conference is only nine weeks away. Tampa Steel is one of the premier steel conferences in the country. It is a great follow-up to the record-breaking SMU Steel Summit in August.

US housing starts crept higher for a second consecutive month in October. Starts were lower, however than the same month last year, according to the most recent data from the US Census Bureau.

There has been almost an assumption that US mills would get the $950-1,000 per ton ($47.50-50 per cwt) they were seeking on HR base and $1,150-2,000 per ton ($57.50-60 per cwt) for cold-rolled and coated base. Recall that Cliffs initially announced an increase and said it was seeking $1,000 per minimum for hot-rolled coil. Nucor […]

The spread between hot-rolled coil (HRC) and galvanized sheet base prices has been hovering near $200 per net ton since late July, according to SMU’s latest analysis.