Tag: demand

Market chatter from steel buyers this week: prices steady to slightly higher, demand weak, inventories slow, and tariffs clouding the outlook.

US rig counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.

SMU’s Steel Buyers’ Sentiment Indices diverged this week. The Current Steel Buyers’ Sentiment Index continued its recovery from the five-year low seen one month ago. Meanwhile, Future Buyers’ Sentiment gave back some of the ground gained in recent surveys.

We’ve been talking about a potential inflection point for the past couple of weeks. And the market does appear to be nearing one.

Sheet and plate buyers say mills remain open to negotiating spot prices this week, though less so than in recent weeks, according to SMU’s latest market survey.

Sheet prices are expected to increase in the coming weeks in most markets. However, rising domestic capacity in the US, subdued demand in Europe, and high inventory levels in China and India will limit price near-term uptrend.

Active rig counts increased in both the US and Canada last week, according to figures released by Baker Hughes. Although rising, US counts continue to hover just above historic lows. Canadian figures remain comparatively healthy, rising to a six-month high this week. Total US rig counts climbed by two week over week (w/w) to 539. […]

Market sources say demand for domestic plate refuses to budge despite stagnating prices. 

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.

A recurring theme in conversations with some of you and in the comments submitted in our surveys is concerns about demand and uncertainty around tariffs. Where does SMU’s latest opinion polling on President Trump’s tariffs stand? Let’s take a look at the numbers.

SMU’s Steel Buyers’ Sentiment Indices ticked higher this week, according to the latest data from our flat-rolled steel survey.

Nucor’s Dan Needham views the steelmaker’s flexibility and diversification as key to pivoting when economic conditions require.

Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.

Steel prices, end-use demand, inventory levels, tariffs, imports, and evolving market events... what is the steel industry talking about this week?

SMU’s Mill Order Index (MOI) moved higher in July after rebounding the month prior. The shift comes after mill orders declined from March through May.

On Monday and Tuesday of 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.

Russel Metals posted its strongest quarterly revenue in three years, fueled by higher steel prices, steady demand, and near-record shipments across its service center network.

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.

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.

ArcelorMittal expects less demand growth across most of the markets it operates in, including the US, because of President Donald Trump’s tariffs. But the Luxembourg-based steelmaker also thinks it stands to benefit from an increasingly regionalized world thanks to investments like the new EAF at its mill in Calvert, Ala.

Resilient demand across its steel product lines, combined with the continued ramp-up of key expansion projects, drove Nucor’s improved financial results and record-setting performance in the second quarter. That’s according to company executives speaking on an earnings conference call on Tuesday.

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.

Ryerson’s earnings slumped in the second quarter amid “recessed” demand.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

CRU Principal Analyst Shankhadeep Mukherjee expects a restocking cycle for steel sheet products in most parts of the world due to either low inventories or seasonally stronger demand.

AZZ Inc. posted record earnings for the first quarter of its 2026 fiscal year on the back of strong infrastructure-related demand and improved operating performance.

US manufacturing activity slowed for a fourth straight month in June. That's a sharp shift after trending up for most of Q1.

Oil and gas drilling activity declined for the ninth-consecutive week in the US, while Canadian counts rose for the fourth straight week, according to Baker Hughes.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

Steel prices inched higher again this week across most of the sheet and plate products tracked by SMU.