If a trend of flat lead times holds, it would represent a change. And we’ve also seen a few of the other indicators we track slip from historic highs – so the potential shift is worth paying attention to.
Starting on June 26, SMU’s Final Thoughts will become a standalone article delivered on Fridays, creating a dedicated space for thought leadership and market analysis from our experts.
What comes next? Do prices plateau and then dip in late Q3/Q4 – which is what we saw in 2021? Or do they continue to rise into 2027?
Domestic hot band prices are at a multi-year high, presently averaging $1,145 per short ton (st). They’re on a 39-week rally that has seen prices climb $360/st over that span.
Starting on June 26, SMU’s Final Thoughts will become a standalone article delivered on Fridays, creating a dedicated space for thought leadership and market analysis from our experts.
While the way we deliver Final Thoughts is changing on Friday, our commitment to bring you the most up-to-date steel news remains unwavering.
We are in full ramp-up mode here at Steel Market Update as we put the final touches on North America’s largest flat‑rolled steel industry gathering of the year.
Starting June 26, SMU’s Final Thoughts will become a standalone article delivered every Friday, creating a dedicated space for thought leadership and market analysis from our experts.
SMU released May service center inventories on Monday. And if you’re a premium subscriber, I recommend reading the report (here) if you haven’t already.
Summer doldrums? Not this year! SMU’s latest steel market survey indicates that an increasing number of steel buyers think prices will continue to rise along with the mercury.
The World Cup only comes around every four years. So let's take a walk down memory lane to see where the steel market stood four years ago.
Has anyone seen a creature called the “spot ton” in the wild? I ask because they used to be a common sight. And now I hear they’re endangered.
Most companies making steel are making a lot money. And they will continue to as current high prices flow into contracts in Q3. I don’t want to kill the vibe. (No one likes that guy.) But let’s put on your risk-manager cap for a second and imagine what might keep everything from moving up and to the right indefinitely.
We provide a sneak peek at this month's SMU Scrap Survey, with insights on tariffs, pricing, and demand.
The official beginning of the USMCA review is less than a month away. But negotiations have already started, and steel tariffs could hang in the balance.
Stronger for longer sentiment remains in the house when it comes to flat-rolled steel prices, according to SMU’s latest steel market survey.
Someone emailed me today to ask the likelihood that Section 232 steel tariffs on Canada and Mexico would be reduced. Unfortunately, that’s way above my paygrade. However, it does highlight a great reason to attend Steel Summit 2026 in August.
Volume, which is usually a big positive for buyers in price negotiations, has arguably become a net negative.
This long weekend, we pay tribute to the sacrifices of the men and women of the US armed forces.
We look at how SMU survey respondents are seeing the effects of Trump's tariffs and the Iran war on business.
SMU released its latest steel market survey results on Friday. The main takeaway: the stronger for longer narrative is still very much in the house.
Inventories are getting dangerously low. (Sheet stocks are at their lowest point since May 2021!) Lead times remain extended. And mills have few spot tons available. (The ‘a’ word – “allocation” – is being kicked around.)
What might be in store for the ferrous scrap market this summer?
The May scrap market in the US seems to be just finishing up its settle as of the writing of this article. Luckily, we have our latest ferrous scrap market survey to give us an insight before we release our prices article next week.
The current rally in sheet prices has lasted more than seven months, something without recent precedent. Unless your definition of recent includes the snapback in demand following the pandemic.
AISI, SMA, and the Canadian Steel Producers Association will each publish a monthly column in the lead-up to the USMCA periodic review.
I haven’t done a deep dive into our sentiment data for a little while. And it’s timely to do so now. Why? Because we’re seeing what I’ll call the inverted yield curve of steel buyers’ sentiment.
I attended the SAFE Summit in Washington, D.C., earlier this week. It was an out-of-this world event – and I mean that quite literally. There were serious discussions around building data centers in space.
Imports of various iron and steelmaking raw materials are eligible. These include pig iron, direct-reduced iron (DRI)/hot-briquetted iron (HBI), iron ore pellets, and ferroalloys, to name a few.
The countdown continues. 123. That’s how many days before Steel Summit 2026 kicks off on Aug. 24 in Atlanta. And it looks like there will be no shortage of things to talk about.