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Latest news
USW, Cliffs contract talks continue ahead of Sept. 1 deadline
The United Steelworker (USW) said on Friday that work continues with Cleveland-Cliffs at both the local and master bargaining tables.
US hot band prices increase, import gap varies little
SMU’s average price for domestic hot rolled (HR) rose to $1,195 per short ton (st) week on week (w/w). In offshore markets, prices saw a more controlled rise.
SMU Survey: Steel buyers remain highly optimistic
Steel buyers remained strongly confident in their companies’ prospects today and in the coming months, according to SMU’s latest market survey. Both of our Steel Buyers’ Sentiment Indices are holding near multi-year highs and have been historically strong for several months.
Export scrap market holds steady
The export markets on both coasts have not changed very much over this last week.
Oil and gas rig counts decline in US and Canada
Drilling activity eased in both the US and Canada this week, receding from multi-month highs, according to recently released Baker Hughes rig count data.
AMU Survey: Scrap demand rebounds in August
Recycler demand increased while fewer respondents reported sufficient obsolete scrap, even as inventory drawdowns remained widespread.
SMU Steel Demand Index pace of growth slows
SMU’s Steel Demand Index saw a negligible decline in growth, slightly behind early August, but remaining in elevated territory, according to mid-to-late August indicators.
SMU’s Mill Order Index rose again in July
SMU’s Mill Order Index (MOI) grew further in July, up for a third straight month. The result came as service center on-order volumes and new order entries accelerated, according to our latest service center inventories data.










