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 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).
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.
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 is lowering its list price for spot hot-rolled coil for the first time since May 27.
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.
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.
Cold-rolled (CR) coil prices continued to tick lower in the US this week, with a similar trend seen in offshore markets.
All districts reported “experiencing modest to pronounced input cost pressures related to tariffs, especially for raw materials used in manufacturing and construction.”
Stateside prices continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.
Business activity in New York state recovered slightly in July, with the Empire State Manufacturing Index seeing its first positive reading in four months.
President Trump’s tariff policies have a lot more in common with a roundabout than you’d think.
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’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 […]
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 […]
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 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.
The latest SMU Community Chat webinar reply featuring Thais Terzian and Frank Nikolic of CRU Group, is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need […]
The rig count declined for the 10th consecutive week in the US, while Canadian count rose for the fifth straight week, according to Baker Hughes.
David Schollaert presents this week's analysis of hot-rolled coil prices, foreign vs. domestic.
A look at SMU data for the month of June.
Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.
US manufacturing activity slowed for a fourth straight month in June. That's a sharp shift after trending up for most of Q1.
Nucor aims to keep plate prices flat again with the opening of its August order book.
SMU’s latest steel buyers market survey results are now available on our website to all premium members.
The latest SMU Community Chat webinar reply featuring Ken Simonson, chief economist for The Association General Contractors of America (AGC), is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that […]
SMU’s Mill Order Index (MOI) declined for a third straight month in May, but only marginally.
US cold-rolled (CR) coil prices continued to tick higher this week, while offshore markets were mixed.
US hot-rolled coil prices crept up again this week but still trail imports from Europe.
US cold-rolled (CR) coil prices edged up again this week, and most offshore markets moved in the opposite direction. But the diverging price moves stateside vs. abroad did little to impact pricing trends. The bigger impact was from Section 232, which were doubled to 50% as of June 3. The higher tariffs have resulted in […]