Contributor: David Schollaert

Domestic raw steel output declined last week, after seeing continued swings over the past several weeks, according to the latest American Iron and Steel Institute (AISI) figures.

Nucor's consumer spot price for hot-rolled increased by $10/st w/w on Monday, Oct. 5 to $1,230 per short ton.

SSAB Americas aims to increase base plate prices by at least $60 per short ton (st), according to a letter sent to customers on Monday.

The latest tally of active drilling rigs increased in Canada while slightly easing in the US this week, according to oil and gas rig count data published by Baker Hughes.

Nucor said on Thursday evening it plans to increase plate prices by $60 per short ton (st) as it opens its November order book.

The results of the latest Steel Market Update (SMU) flat-rolled market survey are now available on our website to all premium members.

The Chicago Business Barometer rebounded in September, returning to expansion after slipping into contraction in August.

Steel mill lead times continued to expand for sheet and plate products this week, according to buyers responding to our latest market survey.

Sheet and plate prices continued to inch higher on a combination of scarce spot tons, long lead times, lean inventories, and stable demand.

Domestic raw steel output recovered after seeing significant swings in the prior two weeks, according to the latest AISI figures.

Nucor said its consumer spot price for hot-rolled coil will be $1,220 per short ton (st) for the week of Sept. 28. That's a 10/st increase from a week earlier.

Fresh off SMU Steel Summit 2026, we are already looking ahead to Tampa. Join industry peers on March 7–9, 2027, for the 38th annual Tampa Steel Conference in Tampa, Florida. The event brings together steel producers, distributors, service centers, ports, logistics providers, and market experts to connect, exchange perspectives, and take the pulse of the […]

US sheet buyers have grappled with supply scarcity in both the spot and contract markets throughout 2026. Now the supply squeeze is spilling over into 2027, according to market participants.

SMU’s Steel Demand Index rose to 69.5 in mid-September, its highest reading in more than five years.

SMU’s Mill Order Index (MOI) accelerated in August for a fourth consecutive month, reaching its strongest reading in nearly five years.

The current plate market squeeze has been driven by improved demand and heightened import barriers, including 50% Section 232 tariffs. But the timing of fall outages—even if they were planned—is exacerbating the supply crunch.

Nucor said on Monday, Sept. 21, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,210 per short ton (st) this week, a $10/st increase from a week earlier.

The domestic plate market is showing few signs of relief for steel buyers. Lead times are stretching well beyond seasonal norms, spot availability has all but evaporated, and mills are drawing hard lines on contract volumes heading into 2027 negotiations. And the supply squeeze will likely intensify in a market that some industry sources say is structurally undersupplied because of stringent US trade and tariff policies. Imports have been arriving in larger volumes, and the expectation is they will continue to tick higher into 2027. The big question is whether those foreign tons will arrive in volumes sufficient to provide the relief steel consumers want.

SSAB Americas announced immediate changes to pricing extras on select products, according to a letter sent to customers Friday morning.

The results of the latest SMU flat-rolled market survey are now available on our website to all premium members.

Steel mill lead times extended for sheet and plate products this week, according to buyers responding to our latest market survey. Production times have been historically long for most of the summer.

Nucor Plate Group said it will be increasing its fuel surcharge to $20 per short ton for next month, effective on all shipments beginning Oct. 1.

US service centers’ flat-rolled steel supply declined in August, making the marginal gain the month prior an outlier year-to-date. Shipping days of supply slipped to 44.2 in August, according to SMU data.

Sheet and plate prices remained on an upward trek over the last week as concerns about supply shortages continued to ripple across the market, industry sources said.

Nucor said its consumer spot price for hot-rolled coil will be $1,200 per short ton (st) the week of Monday, Sept. 14. That's a $10/st increase from a week earlier.

The US sheet market is really feeling the squeeze. It’s not just spot tons that are a concern. Contract tons are increasingly scarce too.

Total shipments of heating and cooling equipment slowed 11% from June to July, according to the latest figures from AHRI.

The US plate market is increasingly challenging. Spot tons remain constrained as demand gains momentum and lead times continue to stretch out—double what they were a year ago.

The spread between domestic hot-rolled (HR) coil and prime scrap prices continued to widen in September. It is now up for a 12th straight month, and at the widest gap since January 2022.

SMU’s September ferrous scrap market survey results are now available on our website to all premium members.