Contributor: Brett Linton

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.

SMU's Steel Buyers’ Sentiment Indices continue to show that steel buyers are optimistic for their businesses’ chances of success.

Hot rolled and galvanized lead times are about half a week longer than they were three months ago, while production times for cold rolled, Galvalume, and plate products are one to two weeks longer.

Since late 2025, mills have begun to hold a firmer stance on prices, tightening their grip at the start of this year and holding on since

The final panel of last week’s Tampa Steel Conference brought together executives from three different service center, all of which were optimistic for 2026.

Three of SMU’s price indices increased this week, while two remained steady, all holding at multi-month highs.

Raw steel production ramped up last week to one of the highest weekly rates recorded in the last four years, according to recently released American Iron and Steel Institute (AISI) data.

Following November’s nine-year low, heating and cooling equipment shipments rebounded 19% in December.

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 price indices inched up to new multi-month highs this week, while plate prices held steady.

Domestic mill output ramped up last week to a five-month high, according to the latest production data released by the American Iron and Steel Institute (AISI). Production has held strong in recent weeks following the multi-month lows seen at the end of the year.

November apparent steel supply declined 9% or 772,000 short tons (st) from October to 7.61 million st, the lowest measure recorded since February 2021

SMU’s Steel Buyers’ Sentiment Indices both edged lower this week following the multi-month highs set in mid-January.

November steel exports tumbled 15% from October to the lowest monthly export rate since July 2020.

One third of the steel buyers responding to our market survey this week reported that domestic mills are negotiable on new spot order pricing. Mills began to hold a firmer stance on prices towards the end of last year, tightening their grip in early January and holding it since.

Steel mill lead times marginally declined on sheet products this week but edged higher on plate, according to responses from SMU’s latest market survey. Overall, lead times remain one to two weeks longer than levels seen three months ago.

Flat-rolled steel prices inched upward again this week as mixed demand appeared to be offset by limited supplies.

Steel imports remain weak in November and December according to recently released final US Commerce Department data. Many of the sheet and plate products we follow slipped to multi-year lows.

The amount of raw steel produced by US mills eased last week according to the AISI. Production remains strong compared to the multi-month lows seen at the end of the year.

The latest count of operational oil and gas rigs increased in both the US and Canada this week, according to the latest data released from Baker Hughes.

All but one of the steelmaking raw materials we track increased in price over the last month

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

Sheet prices mostly continued their uneven but steady march higher this week, according to SMU’s latest check of the market.

Raw steel output from US mills climbed last week to the highest rate seen in over four months, according to the latest American Iron and Steel Institute (AISI) figures

The latest tally of operational oil and gas rigs increased this week in both the US and Canada, according to the latest figures published by Baker Hughes.