Category: SMU

US service centers’ flat-rolled steel supply recovered in December, after trending lower from September to November.

Last week, the government of China reported a trade balance of $1.12 trillion in 2025, the largest merchandise trade surplus in history. And this surplus was despite massive tariffs imposed by the United States and other countries, partly in an effort to rein in China’s trade juggernaut.

Though they’re hopeful, domestic sheet market sources didn’t share a bullish outlook on the market this week.

The amount of finished steel that entered the US market contracted from September to October, driven primarily by slowing domestic mill shipments, according to SMU’s analysis of Department of Commerce and American Iron and Steel Institute (AISI) data

SMU's steel market chatter this week.

The export markets in the Mediterranean Basin have shown firmness over the last month and have started to build in the first half of January.

We are officially under 30 days away from SMU's Tampa Steel Conference. And things are really starting to heat up. Well, at least the temperatures in Florida are staying balmy while much of the rest of the country maintains a chill.

The volume of steel shipped outside of the country increased 11% from September to October 2025 to a seven-month high of 662,000 short tons (st), according to recently released data from the US Department of Commerce.

The price spread between domestic hot-rolled coil and prime scrap widened for a fourth consecutive month in January, based on SMU’s most recent pricing data.

The galvanized steel market has kicked off the year with a firmer tone, marked by rising prices, lengthening lead times, and a noticeable shift in buyer sentiment. Service centers and distributors on HARDI’s latest sheet metal and coil handling council call described a market that is not overheating but steadily tightening.

Reflections on visiting Venezuela in a different era.

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).