Sheet prices and plate prices continued their relentless march higher over the last week as more participants said they were effectively on allocation, especially when it comes to hot-rolled (HR) coil.
Domestic raw steel production rose by 13,000 short tons (st) last week, a marginal recovery from the four-month low set one week prior, according to recently published American Iron and Steel Institute (AISI) figures.
Apparent steel supply rose 3% from May to June to the highest rate recorded in over four years, according to recent Department of Commerce and American Iron and Steel Institute (AISI) figures.
Sheet and plate prices either held their ground or increased this week amid what remains an historically tight spot market.
The amount of raw steel produced by US mills declined last week to the lowest rate recorded in over four months, according to recently released American Iron and Steel Institute (AISI) data. Domestic production has been historically strong for over five months now, recently touching a six-year high.
US steel exports recovered 7% in June, marking the highest monthly rate recorded since January 2025. Despite the recoveries seen over the last six months, trade has been historically weak for over a year and remains weak compared to 2022-2024 volumes.
SMU’s Steel Buyers’ Sentiment Indices have been historically strong for several months, indicating that buyers are confident in their companies’ prospects today and in the coming months.
Steel mill lead times held steady on sheet products this week and extended further on plate, according to buyers responding to our latest market survey. Production times remain at or near multi-year highs across all products, roughly three to four weeks longer than they were last summer.
Most steel buyers report that mills are unwilling to budge on new sheet and plate spot order prices this week. Negotiation rates have been low for most of this year, having recently fallen to one of the lowest measures recorded in almost five years.
The amount of raw steel produced by US mills increased last week to the highest rate recorded since early June. Domestic production has been historically strong for over five months now.
Drilling activity increased in both the US and Canada this week, touching new multi-month highs, according to recently released Baker Hughes figures.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.
SMU’s sheet and plate price indices were steady to higher this week, with all products at multi-year highs.
The total volume of raw steel produced by mills around the globe eased 2% in June, according to worldsteel.
Domestic steel mill output increased last week and remained historically strong, according to recently released American Iron and Steel Institute (AISI) figures.
Drilling activity remained at or near multi-month highs in both the US and Canada this week, according to recently released oil and gas rig count figures by Baker Hughes.
SMU’s Steel Buyers’ Sentiment Indices indicate that buyers remain confident in their companies’ prospects today and in the near future.
Steel mill lead times have trended upward since last November and now stand at or near multi-year highs for all products.
The majority of steel buyers responding to our market survey this week report that mills are holding a firm grip on prices
Sheet prices continued to grind higher this week on factors familiar to most steel market participants: extremely limited spot availability, long lead times, low inventories, and firm demand.
Total US raw steel mill output declined last week to the lowest rate seen since April, according to the latest American Iron and Steel Institute (AISI) figures
Apparent steel supply jumped 8% from April to May to a near four-year high, according to recent Department of Commerce and American Iron and Steel Institute (AISI) figures.
Steel exports eased 1% in May and remain significantly lower than trade of previous years.
Drilling activity ticked higher this week in both the US and Canada, according to recently released rig count data from Baker Hughes.
Monthly steel imports rose back above 2 million short tons (st) in May and June, further recovering from the historic lows seen late last year, according to recent Commerce data.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.
Hot-rolled and cold-rolled prices held steady again this week while prices for coated products and plate continued to tick upward.
Domestic raw steel output eased to an 11-week low last week, according to recently released American Iron and Steel Institute (AISI) figures
SMU’s Steel Buyers’ Sentiment Indices were once again strongly optimistic this week, based on responses collected from steel executives in our latest market survey.
The majority of steel buyers we polled this week reported that mills are holding firm on new order spot prices.