Contributor: Brett Linton

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 (HR) coil and plate prices continued to tick higher even as cold-rolled (CR) and coated prices came in unchanged, according to SMU’s latest check of the market.

Total US raw steel output declined last week for the third-consecutive week but remains historically strong.

Both Steel Buyers’ Sentiment Indices continue to indicate that steel buyers are confident in their companies’ prospects today, as well as in the months ahead.

Starting on June 26, SMU’s Final Thoughts will become a standalone article delivered on Fridays, creating a dedicated space for thought leadership and market analysis from our experts.

Steel mill lead times remained extended this week on both sheet and plate products. Current production times three to four weeks longer than levels seen last summer.

Starting on June 26, SMU’s Final Thoughts will become a standalone article delivered on Fridays, creating a dedicated space for thought leadership and market analysis from our experts.

Steel buyers negotiation rates remain at or near historic lows across most sheet and plate products.

US sheet prices continue to move higher on extremely limited spot availability, solid demand, and extended lead times.

US raw steel production has eased over the past month following the multi-year high seen in May, according to recent American Iron and Steel Institute (AISI) data

Starting June 26, SMU’s Final Thoughts will become a standalone article delivered every Friday, creating a dedicated space for thought leadership and market analysis from our experts.

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

Drilling activity ticked higher this week in both the US and Canada, according to recently released rig count figures from Baker Hughes.

SMU’s sheet price indices increased further this week, while plate held steady, all at multi-year highs.

Apparent steel supply eased from March to April on reduced mill shipments per recent Department of Commerce and American Iron and Steel Institute (AISI) data.

US steel exports improved 2% from March to April to the highest monthly volume seen in 13 months. Although up, trade remains historically low

The volume of raw steel produced by US mills slipped to a seven-week low last week but remains historically high, according to American Iron and Steel Institute (AISI) figures released on Monday.

After reaching historic lows late last year, import volumes have increased each month of 2026, according to recently released US Commerce Department data.

SMU’s Steel Buyers’ Sentiment Indices remained strongly optimistic this week and continue to indicate that buyers are confident in their companies’ prospects.

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

This week we saw continued low negotiation rates across all products, with cold rolled and plate the least negotiable and galvanized the most.

All five of SMU’s price indices increased this week to new multi-year highs. Prices have increased by 20-25% since the beginning of the year.

Domestic steel mill output remained historically strong last week, holding within earshot of a multi-year high.

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

We are happy to share that the SMU Price Estimator Tool is now a little easier to navigate.

Steel market chatter this week: Buyers predict prices to continue rising from here, report steady to improving demand, and most see tariffs as unhelpful.

After falling to a multi-year low in March, the premium galvanized coil commands over hot-rolled (HR) coil has widened in recent months.

SMU’s sheet price indices continued to climb this week, while plate held steady, all at multi-year highs.

Domestic raw steel output remains within reach of a multi-year high, per AISI figures.

U.S. Steel (USS) has revised their galvanized and Galvalume coating extras higher effective Aug. 2, 2026.