SMU’s Mill Order Index (MOI) declined in November after surging the month prior. The fall came as service center intake levels sharply declined, supported by a cut in shipments, according to our latest service center inventories data.
Flat rolled = 50.6 shipping days of supply Plate = 52.8 shipping days of supply Flat rolled US service centers’ flat-rolled steel supply declined for the fourth straight month, reaching 50.6 shipping days of supply on an adjusted basis at the end of November, according to SMU data. Flat roll supply is at its lowest […]
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.
US service centers’ flat-rolled steel supply edged lower for the third straight month, reaching 53.3 shipping days of supply on an adjusted basis at the end of October, according to SMU data.
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.
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.
September service center shipments and inventories report for sheet and plate
SMU’s latest survey results indicate that steel market participants think sheet prices are at or near a bottom. But most also think there is limited upside once they inflect higher.
US service centers flat-rolled steel supply in August declined month-over-month (m/m) and year-over-year (y/y), according to SMU data.
The chief executives from Majestic Steel, Olympic Steel, and Worthington Steel swapped notes on inventory discipline, customer trust, and the race to turn AI from hype into results.
Steel industry analysts at this year's SMU Steel Summit said they see lackluster demand through this year and next.
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.
In July, US service centers’ flat-rolled steel supply increased month on month, following the seasonal summer trend of inventory build with slowing shipments.
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.
Flat rolled = 55.8 shipping days of supply Plate = 59.4 shipping days of supply Flat rolled US service centers’ flat-rolled steel supply edged down in June with a modest boost to shipments month on month (m/m). At the end of June, US service centers carried 55.8 shipping days of flat roll supply, down from […]
SMU’s Mill Order Index (MOI) declined for a third straight month in May, but only marginally.
Flat rolled = 57.1 shipping days of supply Plate = 55.7 shipping days of supply Flat rolled US service centers reined in flat roll supply in May, coinciding with declining shipments. At the end of May, service centers carried 57.1 shipping days of supply, according to adjusted SMU data. That’s down slightly from 57.6 shipping […]
Which way will the herd move?
SMU’s Mill Order Index (MOI) declined for a second straight month in April after repeated gains at the start of the year, according to our latest service center inventories data.
Tariff-related noise aside, there is one basic factor keeping buyers on the sidelines. Despite recent declines, HR prices remain at historically high levels. And there is no obvious support to keep them there.
SMU’s Mill Order Index declined in March after repeated gains at the start of the year, according to our latest service center inventories data.
Steel service center shipments and inventories report through March 2024.
Some of you have told me that the current market feels about as crazy as early 2021 when demand snapped back after the initial outbreak of the Covid-19 pandemic. Others have said it might be more like late February/early March 2022, when Russia launched a full-scale invasion of Ukraine – and, in the process, caused […]
Flat rolled = 66 shipping days of supply Plate = 54.3 shipping days of supply Flat rolled US service center flat-rolled steel supply declined in January month on month (m/m) but is up about 10% year on year (y/y), according to SMU data. At the end of January, US service centers carried 66 shipping days […]
Flat rolled = 77.1 shipping days of supply Plate = 58.1 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers ballooned in December with higher inventories as well as seasonally lower shipments. At the end of December, service centers carried 77.1 shipping days of flat-rolled steel supply on an adjusted basis, […]
Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact info@steelmarketupdate.com. Flat rolled = 61.4 shipping days of supply Plate = 50.5 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers remains seasonally high. November inventories edged down […]
Flat rolled = 63.4 shipping days of supply Plate = 52.4 shipping days of supply Flat rolled shipments and inventories Flat-rolled steel supply at US service centers remains seasonally high. October inventories increased after edging lower in September – a dynamic driven largely by disappointing demand. October’s report reflects lower demand and stable lead times […]
US plate prices are at their lowest level in almost four years, and less than half of what they were when they reached an all-time high of $1,940 per short ton (st) in May 2022.
Flat rolled = 60.8 shipping days of supply Plate = 52.7 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers declined in September, though still seasonally high. September’s report reflects lower demand, stable lead times, and restocking early in the third quarter at a perceived bottom in prices. At the end […]
Cleveland-Cliffs is seeking $750 per short ton (st) for hot-rolled coil. That’s $20/st above where the steelmaker had been. It’s also $30/st above Nucor, which is at $720/st this week. We've seen prices increase incrementally this week. SMU's HR price, for example, stands at $690/st on average, up $5/st from last week. The questions now are whether a number well above $700/st will stick, whether other mills will follow Cliffs, and whether there is enough demand to support higher prices.