Contributor: David Schollaert

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

SMU's July at a glance

SMU’s Monthly Review provides a summary of our key steel market metrics for the previous month, with the latest data updated through July 31.

SMU scrap market survey results now available

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

Active rig counts slipped in US, Canada

Drilling activity slowed in the US and Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.

ISM: Manufacturing growth slows in July, hits 10-month low

US manufacturing activity slowed again in July to a 10-month low

50% S232 keeps EU import HR prices above US tags

Hot-rolled (HR) coil prices in the US edged lower again this week, while offshore price were little changed. Stateside prices continue to trail imports from Europe, supported by Section 232 steel tariffs.

Algoma swings to loss on ‘unprecedented disruptions’ and trade barriers

Canada’s Algoma Steel saw a sharp loss in the second quarter amid a continued challenging market environment and “tariff uncertainties.”

SMU Steel Demand Index still lags

The Steel Demand Index now stands at 42, up from 38.5 in early July, but off from a four-year high of 65.0 in late February.

North American auto assemblies down in June

North American auto assemblies declined in June, down 10.6% vs. May. And, according to GlobalData, assemblies were 3.1% down year on year (y/y).

SMU Price Ranges: Sheet prices tick lower, but floor remains high vs. '24

Sheet prices slipped again this week amid discounting from certain mills and ongoing concerns about demand.

Nucor spot HR list price unchanged at $900/ton

Nucor maintained its weekly list price for hot-rolled (HR) coil flat this week, following a price cut the previous week.

USS, Nippon continue to press lawsuit against Cliffs, USW chief

U.S. Steel and Nippon Steel are not done settling scores with those who opposed their historic, $14.9-billion partnership.

US CRC prices dip, widening gap vs. imports

Cold-rolled (CR) coil prices continued to decline in the US this week, while prices in offshore markets ticked higher.

SMU flat-rolled market survey results now available

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

US HR prices remain sharply higher than EU HR on 50% S232

Hot-rolled (HR) coil prices in the US edged lower again this week but have remained in a tight band for roughly four months. Stateside prices continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.

Reliance logs another record for Q2 tons sold

Reliance Inc. reported record second-quarter tonnages, with 1.62 million tons sold in the second quarter of 2025, a 4% increase year over year (y/y).

SMU Community Chat replay now available

The latest SMU Community Chat webinar reply featuring Tom Derry of the Institute for Supply Management (ISM), is now available on our website to all members.

Service centers: Mill orders recover in June

SMU’s Mill Order Index (MOI) rebounded in June after declining for three straight months. The gain complemented a modest boost in service center shipments for the month, according to our latest service center inventories data.

Nucor lowers HR price to $900/ton

Nucor is lowering its list price for spot hot-rolled coil for the first time since May 27.

Steel buyers ignore tariff noise amid slow summer market

Section 232 tariffs have doubled to 50%. Reciprocal tariffs rates remain uncertain. But while prices have softened on even softer sentiment, tariffs have firmed the floor.

Multi-family boost drives housing start rebound in June

US housing starts recovered slightly in June after reaching a five-year low the month prior, according to figures recently released by the US Census Bureau.

CRC price declines tighten US vs. EU gap

Cold-rolled (CR) coil prices continued to tick lower in the US this week, with a similar trend seen in offshore markets.

Beige Book: Tariff pressures mount, flat outlook

All districts reported “experiencing modest to pronounced input cost pressures related to tariffs, especially for raw materials used in manufacturing and construction.”

US, EU HR prices decline, doubled S232 tariffs maintain the gap

Stateside prices continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.

Manufacturing in New York state recovers in July

Business activity in New York state recovered slightly in July, with the Empire State Manufacturing Index seeing its first positive reading in four months.

Final Thoughts

President Trump’s tariff policies have a lot more in common with a roundabout than you’d think.

SMU scrap market survey results now available

SMU’s ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “ferrous scrap survey” results. Past scrap survey results are also available under that selection. If you need help accessing the survey results […]

SMU flat-rolled market survey results now available

SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]

Dodge Momentum Index reaches record high in June

The Dodge Momentum Index (DMI) increased again in June, setting a record reading. The surprise result follows three months of little to no growth, according to the latest data released by Dodge Construction Network. Both institutional and commercial projects accelerated in June, further improving the nonresidential construction market. The May DMI rose to 225.1, a […]

S232 tariffs keep US HR prices below imports from EU

Hot-rolled (HR) coil prices in the US ticked down this week but have fluctuated little over the past month. Stateside tags continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.

Algoma fires up EAF steelmaking with first arc

Algoma Steel reached a milestone in its transformation from blast furnace to electric arc furnace (EAF) steelmaking, with its Unit One EAF achieving its first steel production this week.