Contributor: Brett Linton

Prices for iron ore, aluminum, pig iron, and shredded scrap have all risen in the last 30 days. Busheling scrap held steady, while zinc and coking coal declined.

The latest count of operational drilling rigs declined in both the US and Canada this week, according to recently released data from Baker Hughes.

Most steel buyers see prices continuing to inch higher on stable or improving demand. But some are concerned higher energy prices stemming for the Iran war could dent the overall economy.

The pace of sheet and plate price increases slowed this week, with most products holding at some of the highest levels seen in over a year.

Domestic mill production was estimated at 1.78 million short tons last week, near the four-year high set one month ago.

Steel buyers remain highly optimistic for their businesses’ chances for current and future success, according to SMU’s latest Steel Buyers’ Sentiment Indices.

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

Steel mill lead times extended to multi-year highs on both sheet and plate products this week.

Most steel buyers report that domestic mills are unwilling to negotiate price on new sheet and plate spot orders.

Apparent steel supply increased from December to January, but remains on the low side compared to recent years.

Prices for both sheet and plate products climbed higher this week, with some rising to multi-year highs, according to SMU's latest market canvass.

Heating and cooling equipment shipments declined in January to the second-lowest rate recorded over the past nine years.

US steel exports jumped 33% in January but remain historically low, according to recently released US Department of Commerce data.

Raw steel production declined last week for the third-consecutive week but remains historically strong, per AISI.

Steel imports remained close to multi-year lows in January and February, according to US Commerce Department data released this week.

The latest tally of active oil and gas rigs increased in the US this week but declined in Canada, according to figures recently released from Baker Hughes.

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 prices were flat or higher this week in a US market that remains characterized by extended lead times and limited spot availability.

Raw production has trended upwards since the start of the year, reaching a four-year high in February.

Steel buyers remain optimistic for their current and future business prospects, though not as strong as they did one year ago.

Following extensions in February, steel mill lead times held steady or extended further for both sheet and plate products this week, according to buyers responding to our latest market survey.

Most steel buyers responding to our market survey this week said domestic mills remain unwilling to negotiate lower prices for new spot orders.

SMU's sheet and plate prices increased this week to new multi-month highs.

Domestic raw steel production has strengthened since the start of the year and reached a four-year high in mid-February.

December supply increased 7% from November to the third-lowest monthly rate of the year.

SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.

Trade for many of the sheet and plate products we follow has fallen to multi-year lows through December.

Sheet prices continue to grind higher on tight supply and 'okay' demand. Plate finally saw some movement after weeks of stability as price increases begin to stick.

Steel imports slowed further in December and January to some of the lowest volumes recorded in recent years.

The amount of raw steel produced by US mills rose to the highest level recorded in over four years, according to AISI's latest figures.