Market Data
September 17, 2024
Written by Brett Linton
SMU’s plate price index was unchanged this week, while our sheet indices crept higher.
Hot-rolled steel prices increased by $5 per short ton (st) to an average of $690/st this week, following two weeks of marginal declines. HR prices are back in line with levels of a month ago.
The latest tally of active drilling rigs increased in Canada while slightly easing in the US this week, according to oil and gas rig count data published by Baker Hughes.
SMU’s Current Steel Buyers’ Sentiment Index fell this week, while Future Sentiment remained flat, according to our latest market survey.
The results of the latest Steel Market Update (SMU) flat-rolled market survey are now available on our website to all premium members.
The Chicago Business Barometer rebounded in September, returning to expansion after slipping into contraction in August.
Steel mill lead times continued to expand for sheet and plate products this week, according to buyers responding to our latest market survey.