Contributor: Brett Linton

Total heating and cooling equipment shipments jumped 24% from February to March according to recently released AHRI figures.

Steel Dynamics Inc (SDI) has revised their metallic coating extras higher for galvanized, Galvalume, Galfan, and aluminized type 1 products.

US and Canadian drilling activity both ticked higher this week, according to recently released data from Baker Hughes.

Following the historical lows seen in recent months, steel import volumes marginally increased in March and April.

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.

Sheet and plate prices remained on an upward trend as industry sources increasingly asked whether improved demand might be driving the market as much as limited supply.

Most manufacturing indicators strengthened through March and showed strong positive annual growth.

Domestic raw steel production increased to a new multi-year high last week, per AISI figures.

Drilling activity increased in the US this week but declined in Canada, per Baker Hughes.

Steel buyers remain highly optimistic about their businesses’ chances of success today and in the near future, according to SMU’s Steel Buyers’ Sentiment Indices.

Steel mill lead times continue to hold at or near multi-year highs for both sheet and plate products, territory they have been in two months.

This week we saw low negotiation rates across all products, though coated products are the most negotiable and plate products are the least.

Each of SMU’s sheet and plate price indices climbed higher this week, with all products rising further to new multi-year highs.

The volume of raw steel produced by US mills eased last week but remains within earshot of the multi-year high set one week prior

Each of SMU’s sheet and plate price indices climbed higher this week, with most products rising further to new multi-year highs

Domestic mill production ticked up to a new multi-year high last week, according to recently published American Iron and Steel Institute (AISI) figures.

Apparent steel supply declined 3% from January to February to the third-lowest rate recorded in the past two years, just 5% above the near-five-year low set last November.

SMU’s Steel Buyers’ Sentiment Indices indicate that steel buyers remain highly optimistic about their businesses’ chances for current and future success.

Steel mill lead times remained elevated this week, according to buyers responding to our latest market survey.

Most sheet and plate buyers continue to report that mills are not negotiable on new order spot prices, according to our latest market survey conducted this week.

US steel exports held steady from January to February and remain near historical lows.

Sheet and plate prices increased yet again this week on an increasingly tight spot market. It's gotten so tight that some market participants say they're becoming more concerned about availability than about price.

Raw steel production increased for the fourth-consecutive week last week to a new multi-year high, according to the American Iron and Steel Institute (AISI).

Steel imports remain near some of the lowest volumes recorded in over five years.

Drilling activity declined in both the US and Canada this week, according to active oil and gas rig count figures released from Baker Hughes on Friday.

Steel mill production times for sheet and plate products remain at or near multi-year highs, according to buyers responding to our latest market survey.

Most steel buyers report that mills are not willing to negotiate on new order spot prices, according to our latest market survey. Mill negotiability is now down to one of the lowest rates measured in over a year.

Sheet and plate prices were flat or modestly higher this week, continuing a trend we’ve seen since the beginning of Q4. The big question: How much longer can the trend hold?

Raw steel production recovered for the second-consecutive week and is now just 14,000 short tons below the four-year high production rate witnessed in mid-February.

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.