SMU’s Steel Buyers’ Sentiment Indices diverged this week. The Current Steel Buyers’ Sentiment Index continued its recovery from the five-year low seen one month ago. Meanwhile, Future Buyers’ Sentiment gave back some of the ground gained in recent surveys.
Sheet times ticked higher but remain within days of multi-year lows, territory they have been in since May. Plate lead times have shifted lower in the past month but remain about a week longer than they were at this time last year.
Housing starts slowed in the US in August as affordability challenges and cautious builder sentiment weighed on new construction activity.
Sheet and plate buyers say mills remain open to negotiating spot prices this week, though less so than in recent weeks, according to SMU’s latest market survey.
The US Department of Commerce announced that its second window for submitting applications for the inclusion of derivative steel and aluminum products in Section 232 tariffs is now open, according to the US Federal Register. September’s Inclusion Window Sept. 15 through Sept. 29, applicants can email requests for inclusions to the Defense Industrial Base Programs. The first […]
SMU’s price ranges were mixed again this week as the market continues to seek a floor amid industry hopes for a Q4 rebound.
Sheet prices were mixed this week as some mills continued to offer significant discounts to larger buyers while others have shifted toward being more disciplined, market participants said.
If the steel industry professionals who made it to the very final presentation of this year’s SMU Steel Summit were expecting another round of cautious forecasting, they were in for a surprise. Because what they got was a wake-up call.
SMU’s Steel Buyers’ Sentiment Indices ticked higher this week, according to the latest data from our flat-rolled steel survey.
Sheet and plate lead times held steady yet again this week, according to steel buyers responding to our latest market survey, a trend in place since May.
The majority of steel buyers responding to this week’s market survey continue to report that mills are open to negotiating spot prices on sheet and plate products.
SMU’s hot-rolled (HR) coil price held steady this week while prices for other sheet and plate products declined.
Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.
Steel prices remained largely unchanged this week, staying at or near lows last seen in February. All five sheet and plate products tracked by SMU moved by no more than $5 per short ton (st) from the previous week.
SMU’s Steel Buyers’ Sentiment Indices moved in opposing directions this week. Our Current Steel Buyers’ Sentiment Index dropped to one of the lowest levels recorded in over five years, while Future Buyers’ Sentiment inched higher.
Steel buyers report steady lead times for sheet and plate products, a soft-sideways trend we've seen since May.
The majority of steel buyers responding to our market survey this week continue to say that mills are negotiable on new spot order prices. Negotiation rates have remained high since May.
US housing starts rose in July both month-on-month and year-on-year, according to figures from the US Census Bureau.
Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.
Business activity in New York state improved modestly in August. It was just the second positive reading for the general business conditions index in six months.
While boarding Airforce One on Friday, US President Donald Trump stated that he would be setting more steel tariffs and putting ~100% tariffs on semiconductors and chips.
A tour of the economy as it relates to hot-rolled coil futures.
Market participants said they have high hopes that the stable hot-rolled spot market will improve as the year rolls on.
All five of SMU's steel sheet and plate price indices declined this week, falling to lows last seen in February.
The Dodge Momentum Index (DMI) jumped 20.8% in July and is now up 27% year-to-date, according to the latest data released by Dodge Construction Network.
This week’s SMU survey reveals that a growing number of steel market participants are weary of tariffs and are awaiting evidence of progress reshoring. At the start of 2025, now-second-term President, Donald Trump, pronounced that his plan to implement tariffs would result in increased revenue for the US.
Both SMU Sentiment Indices continue to show that buyers remain optimistic for their company’s chances of success, though far less confident than they felt earlier in the year.
Since the last writing of this article, CME hot-rolled coil (HRC) futures have been largely steady and lifeless, though there’s been some brief bouts of intraday volatility.
Mill production times for sheet products are holding just above multi-year lows, while plate lead times remain elevated.