Category: US

In the last article written for SMU, we looked at the rallies that followed both the 2016 and 2022 presidential elections, as well as the moves in the NFIB Small Business Optimism Index.

Steel mill production times have seen very little change since September, according to buyers participating in our latest market survey.

“Manufacturers are optimistic,” said Timothy R. Fiore, chair of ISM’s Manufacturing Business Survey Committee.

Steel buyers of sheet and plate products say mills are still willing to bend on spot pricing this week, though not quite as much as they were two weeks prior, according to our most recent survey data.

We have seen very little change in sheet and plate prices across the past month.

Following a substantial recovery in November, business activity in New York state’s manufacturing sector held steady in December, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

Steel prices have remained relatively stable in recent weeks, though they have generally trended downward since October.

Import arbitrations expressed via futures may become enticing as coil price spreads expand. The spread market in CME US hot-rolled coil (HRC) is currently navigating a period of volatility, with prices fluctuating post-election, leaving traders uncertain about the market's direction.

Vedoya said the proposed tariffs are "an irrational measure that would harm both their own industry and ours."

The Dodge Momentum Index (DMI) slid further in November as planning for data centers and warehouses continued to decline.

SMU’s Current Steel Buyers’ Sentiment Index slipped this week, while Future Sentiment remained flat, according to our most recent survey data.

Production times are marginally higher than those seen in recent weeks, now closer to levels witnessed throughout October.

Still, many businesses noted increased sensitivity to prices and quality among customers.

A high percentage of the steel buyers we polled this week continue to respond that mills are open to price negotiation for new spot orders. Rates have been high for the majority of the year.

Steel sheet prices remain at or near multi-month lows, while plate prices continue edging lower from their mid-2022 peak.

“We are under constant threat from nonmarket economies who evade our trade laws," SMA said.

US manufacturing activity contracted again in November for the eighth consecutive month.

The Chicago Business Barometer continues to indicate deteriorating business conditions in November, easing to a six-month low, according to Market News International (MNI) and the Institute for Supply Management (ISM).

SMU's price indices saw minor fluctuations on sheet products this week, while our plate and Galvalume indices held steady.

Following months of fluctuations, SMU’s Steel Buyers’ Sentiment Indices rebounded this week, now at multi-month highs. Both of our Indices remain in positive territory and indicate that steel buyers are optimistic about the success of their businesses.

After experiencing a rally ahead of the 2024 election, the nearby part of CME HRC futures complex has softened as we approach year-end. Meanwhile, the forward positions (second half of 2025) have remained supported and largely unchanged.

Steel buyers participating in our market survey this week reported stable mill lead times for both sheet and plate steel products.

Most steel buyers SMU polled this week reported that mills remain willing to negotiate new order pricing.

Architecture firms reported stable billings in October, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek. This follows 20 months of contracting business conditions.

SMU’s flat-rolled steel prices were mixed this week with slight declines across most products and a modest increase in prices for cold-rolled coil.

President-elect Donald Trump has named Wall Street veteran Howard Lutnick as the new US Secretary of Commerce.

New York state’s manufacturing sector saw substantial recovery in November, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.

No more excuses! The election is over. Donald Trump will be inaugurated on Monday January 20 with the Republican party in control of Congress. Now, it is time to get back to work!

Prices for sheet and plate products were mixed this week. While market participants have noted a post-election uptick in activity, most said that it was (so far) nothing to write home about.

SMU’s Steel Buyers’ Sentiment Indices continue to show that steel buyers are optimistic about the success of their businesses, though that confidence has eased compared to earlier in the year.