Stelco Holdings Inc. is indefinitely idling its finishing operations in Hamilton, Ontario. The Canadian steelmaker, a subsidiary of Cleveland-Cliffs, will concentrate steel production at its Lake Erie Works in Nanticoke, Ontario, a Cliffs spokesperson told SMU.
US sheet buyers have grappled with supply scarcity in both the spot and contract markets throughout 2026. Now the supply squeeze is spilling over into 2027, according to market participants.
SMU’s Steel Demand Index rose to 69.5 in mid-September, its highest reading in more than five years.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.
The United Steelworkers (USW) union plans to extend its current labor contract with U.S. Steel and Cleveland-Cliffs by 48-hours on a rolling basis, the union told SMU on Monday.
Nucor said on Monday, Sept. 21, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,210 per short ton (st) this week, a $10/st increase from a week earlier.
Kibar Americas said production has started at its aluminum plant in Fairmont, W.Va., where it will manufacture products for the HVAC, packaging, automotive and industrial sectors.
SMU’s Current and Future Steel Buyers’ Sentiment Indices rose this week, with Current Sentiment hitting a multi-year high, according to our latest market survey.
The rally in steel sheet prices is officially a year old. We haven’t seen a yearlong price rally since 2021, when a snapback in demand following the early days of the pandemic resulted in one of the biggest steel market booms since World War II.
Steel Dynamics Inc. (SDI) has guided to higher third-quarter earnings both sequentially and on-year.
I ended my previous column expecting some eventful times ahead for HRC futures. That proved true almost immediately. I ended my previous column expecting some eventful times ahead for HRC futures. That proved true almost immediately. By that weekend, the tentative US-Canada trade agreement had fallen through, and the futures market began a sharp recovery. Since then, the curve has not only erased the initial selloff but has moved well beyond where it stood before the agreement was announced. The progression of the curve tells the story. Following news of the tentative Canada agreement, HRC futures sold off broadly (orange from purple), with the belly bearing the brunt of the move.
A new player is emerging in the grain-oriented electrical steel (GOES) space. Flux Steel Works announced plans to renovate and reequip a former ATI specialty steel plant in Louisville, Ohio, to produce GOES.
Service centers and manufacturers on the Sept. 15 HARDI Sheet Metal and Air Handling Council call described a tight, seller-driven market. Lead times are long, deliveries are late, inventories are thin, imports are down, and demand is strong, causing a shortage of galvanized material. SMU regularly joins the council’s meetings to discuss the galvanized sheet market. Participants — members of Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) — are wholesalers, service centers, distributors, and manufacturers who buy or sell galvanized steel.
US service centers’ flat-rolled steel supply declined in August, making the marginal gain the month prior an outlier year-to-date. Shipping days of supply slipped to 44.2 in August, according to SMU data.
Sheet and plate prices remained on an upward trek over the last week as concerns about supply shortages continued to ripple across the market, industry sources said.
The Commerce Department has issued its preliminary countervailing duty (CVD) determination in the trade case investigating tin mill products from China.
The US sheet market is really feeling the squeeze. It’s not just spot tons that are a concern. Contract tons are increasingly scarce too.
US steel imports increased 7.8% in July and, based on US Department of Commerce license data, rose even higher in August.
Following the 17-month high set in June, US steel exports receded 8% in July, according to recently released US Department of Commerce figures. Trade has been historically low for over a year and remains weak compared to 2022-2024 volumes.
The spread between domestic hot-rolled (HR) coil and prime scrap prices continued to widen in September. It is now up for a 12th straight month, and at the widest gap since January 2022.
CME Group’s HR coil futures have had a volatile stretch over the past few weeks.
Sheet and plate prices continue to push higher on increasingly tight supplies and solid demand, market participants said. The domestic market remains characterized by both limited spot availability and limited contract availability. Buyers continue to report having difficulty finding spot material and being held below their contract maximums and sometimes to their contract minimums.
Nucor said on Tuesday, Sept. 8, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,190 per short ton (st) this week, a $5/st increase from a week earlier.
If you’re looking for a deal on steel, this last week wasn’t the one to find one. (Nor was the week before that. Or the week before that.) Meanwhile, contract negotiations are heating up in one of the tightest markets since at least 2021. I've heard discounts will be lower, min-max ranges will be tighter, and there will be less freight equalization and waiving extras.
Most steel buyers responding to our latest market survey reported that mills continue to hold a firm grip on prices. Negotiation rates remain low on all sheet and plate products. In late August, the share of buyers reporting that mills were negotiable fell to the lowest rate seen in almost five years, and that rate was unchanged through this week.
Steel mill lead times held steady for sheet products this week and extended further on plate, according to buyers responding to our latest market survey. Production times have been historically long for most of the summer, currently at or near multi-year highs on each of the products we measure. Over two-thirds of the buyers responding to this week’s survey (68%) believe lead times will be flat two months from now, similar to recent surveys. Of the remainder, 19% predict lead times will extend further, and 13% expect contractions.
Flat-rolled steel prices inched higher again this week, continuing a trend that has characterized the market for most of this year. SMU’s hot-rolled (HR) coil price now stands at...
Nucor raised its CSP for HR coil to $1,185 per short ton for spot orders placed this week, a $5/st increase w/w.
Automotive aluminum demand is rising as extrusions, sheet, and castings gain ground across vehicle applications and powertrains.
Leading steel analysts gave their forecasts for 2027 pricing and market dynamics at Steel Summit 2026.