Tag: demand

A report on the sheet market this week.

SMU’s Steel Buyers’ Sentiment Indices both increased this week to multi-month highs

Rising global capital and power costs, driven by China's production cap and higher-cost expansion in Indonesia, are resetting aluminum's incentive price, making higher LME levels necessary to unlock new primary capacity outside China.

Though they’re hopeful, domestic sheet market sources didn’t share a bullish outlook on the market this week.

Participants in the domestic steel plate market said they are maintaining strong order books, experiencing longer lead times, and finding mills are less open to negotiating prices.

The galvanized steel market has kicked off the year with a firmer tone, marked by rising prices, lengthening lead times, and a noticeable shift in buyer sentiment. Service centers and distributors on HARDI’s latest sheet metal and coil handling council call described a market that is not overheating but steadily tightening.

Steel plate market participants think increasing spot prices and growing order volumes could stick around. That’s two encouraging signs for the year ahead, they said. Oregon Steel Mills, SSAB, and Nucor all increased base prices for plate products by $40 per short ton (st) in the final weeks of December. SMU data also indicates that mills […]

AZZ Inc. posted record sales in its fiscal third quarter, driven by strong hot-dip galvanizing and coil coating demand tied to infrastructure, energy transition, and data center construction.

Demand for heavy steel plate used in offshore wind farms faces renewed uncertainty after President Trump paused leases for five offshore wind projects. 

The number of oil and gas rigs operating in the US ticked higher this week, while Canadian activity tumbled, according to the latest data released from Baker Hughes.

An SMU Community Chat with Timna Tanners.

In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels through December

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.

Economic activity across the US was largely static with some modest activity unfolding at a sluggish pace, according to the US Federal Reserve’s (The Fed) latest Beige Book report.

The SMU Steel Demand Index slackened from late October, remaining below expansion territory, according to SMU's mid-November indicators.

SMU’s Mill Order Index (MOI) surged in October after a notable decline the month prior. The recovery came as service center on order inventory totals picked up, supported by a slight uptick in shipments, according to our latest service center inventories data.

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.

With infrastructure demand shifting toward digital capacity, Nucor Corp. is positioning itself as the go-to steel supplier for the data center boom.

SMU’s Steel Demand Index remains in contraction, according to late October indicators. Though growth faded at a slower pace, it rebounded from one of the lowest readings year-to-date from earlier in the month.

SMU’s Mill Order Index declined in September after repeated gains from June through August. The shift came as service center shipping rates and inventories fell.

Nucor entered the fourth quarter with clear forward momentum: stronger-than-expected results, solid sheet and plate demand, and construction progress on a major new mill that should add capacity next year.

US automakers could face production shutdowns in November because of potential supply disruptions at Dutch chipmaker Nexperia. Even a temporary shutdown, as carmakers scramble to procure chips, threatens to drive steel demand lower. Alliance for Automotive Innovation CEO John Bozzella underscored the severity of the situation. “If the shipment of automotive chips doesn’t resume — […]

Baker Hughes reported higher oil and gas drilling activity this week in both the US and Canada.

What's on steel buyers' minds this week? We asked about market prices, demand, inventories, tariffs, imports, and other evolving market trends. Read on for buyers' comments in their own words...

It's can-kicking at its finest. And it’s been drawn out! Some are getting so good at it, they’re kicking cans and taking names.

Cleveland-Cliffs Inc. pointed to signs of recovery in its third-quarter earnings report on Monday. Improved automotive volumes and a better product mix drove sequential gains, but the steelmaker’s financials continue to bled red.

Genuine demand, they stated, will return when the market feels stable again.

US domestic sheet prices have remained rangebound in recent weeks as supply tightness met weak demand. Demand for steel produced in the US increased among some Mexican industrial buyers....

Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.

The World Steel Association (worldsteel) Short Range Outlook for global steel demand predicts that 2025’s steel demand will clock in at the same level as in 2024. In its October report, the Brussels-based association stated that this year’s steel demand will reach ~1,750 million metric tons (mt). The organization forecasts a 1.3% demand rebound in 2026, pushing […]