Category: SMU

The majority of SMU’s sheet and plate price indices rose this week, with multiple products climbing to new multi-month highs

Ferrous scrap prices jumped on all the products SMU tracks in January, scrap sources said.

According to recently released final US Commerce Department data, US steel imports rebounded 11% month on month (m/m) in October 2025 after falling to a multi-year low one month earlier. The latest license figures suggest imports eased back by 3% in November and by another 2% in December, with trade again nearing historical lows.

A look at some of the results from SMU's January scrap market survey.

SMU’s Current Sentiment Index for scrap continued to climb this month, according to the latest data from our ferrous scrap survey. However, the Future Sentiment Index remained unchanged.

The imported basic pig iron market has shown upward price movement over the last week.

SMU’s January ferrous scrap market survey results are now available on our website to all premium members.

A sneak peek at the first survey results of 2026.

Steel plate market participants think increasing spot prices and growing order volumes could stick around. That’s two encouraging signs for the year ahead, they said. Oregon Steel Mills, SSAB, and Nucor all increased base prices for plate products by $40 per short ton (st) in the final weeks of December. SMU data also indicates that mills […]

Shipments of heating and cooling equipment fell for the sixth straight month in November, reaching the lowest rate seen since October 2016, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).

The Current SMU Steel Buyers’ Sentiment Index has rebounded from our previous market check in December. However, Future Buyers’ Sentiment has edged down, according to our latest survey data.

The US steel market has gotten off to a fast start. Prices are up as lead times extend. And the news is coming in hot too.

Steel mill lead times increased for both sheet and plate products this week, according to responses from SMU’s latest market survey.

Sources in the domestic hot-rolled sheet market say they are standing by for an uptick in customer demand. These service center market participants, located in various regions of the US, expect to handle an influx of customer orders this month. 

The formation of the domestic scrap market for January shipments is underway and only partially settled as of this article's publication. The main point of contention is the price of #1 busheling and bundles.

Mill spot price negotiation rates have tumbled across all products SMU tracks, according to our latest survey data.

We are quickly approaching the one-month countdown to the 2026 Tampa Steel Conference. Let's look at Tampa 2025 to see what people were saying and how it applies to this year.

Steel sheet and plate prices rose across the board to start the year on limited spot availability at some mills, expectations of higher scrap prices, and hopes of stronger demand in 2026.

Australia's BlueScope Steel confirmed it has received a takeover bid from a two-party international consortium that includes Fort Wayne, Ind.-based Steel Dynamics Inc. (SDI).

Majestic Steel USA announced that Chad Broyles will now be the Executive Vice President for its business operations unit. The Cleveland-headquartered flat-rolled steel distributor and processor expects Broyles to help Majestic align its commercial and operational priorities. As EVP, Broyles will oversee service center operations, according to the company’s Jan. 5 statement. Todd Leebow, president and CEO of Majestic Steel USA, noted that since joining Majestic in 2025 Broyles’ has been a valuable contributor to its […]

There is disagreement over whether prices will increase meaningfully going into the new year. Prices did see a small increase in December, but several sources SMU has contacted have told us they are hearing price rises may be limited compared to past years.   

Oregon Steel Mills has joined other producers, announcing a price increase of at least $40 per short ton (st) for steel plate. The Portland, Ore.-based company told customers on Monday that the minimum increase was effective immediately with all new orders. It applies to all carbon, HSLA, hot-rolled coil, normalized, and quenched and tempered products, […]

Nucor kept its consumer spot price (CSP) for hot-rolled coil unchanged at $950 per short ton (st).

SSAB Americas aims to increase prices on all its products by at least $40 per short ton (st).

This is the final Final Thoughts of 2025. In fact, let's throw in the final Final Thoughts of the first half of the 2020s. End of year. Mid-decade. What does it all mean?

Demand for heavy steel plate used in offshore wind farms faces renewed uncertainty after President Trump paused leases for five offshore wind projects. 

The total amount of raw steel produced around the world slipped 3% from October to an estimated 140.1 million metric tons (mt) in November, according to World Steel Association (worldsteel) data. This marks the lowest monthly production rate since December 2023.

The US Department of Commerce has officially published the anti-dumping and countervailing duty orders on corrosion-resistant steel sheet imports, the final step in the trade case originally filed more than a year ago. At the same time, Commerce also revealed it is allowing some CORE imports into the country without paying the AD or CVDs.

The export market in the Atlantic Basin has seen significant strengthening during Q4 as 2025 comes to a close. The strength has been mainly driven by Turkish buyers, but Italy has also been a contributor. 

It's that time of year, when we look back at where we've been and forward to what the new year might bring. So, before we look forward to 2026, let’s take a quick look back at 2025.