Category: SMU Data and Models

SMU’s Buyers’ Sentiment Indices both declined this week but remain strong. This indicates buyers are still optimistic about their companies' ability for success.

Buyers responding to our latest market survey reported longer lead times this week on all of the sheet and plate products SMU tracks.

The majority of the steel buyers responding to our latest market survey reported that domestic mills are not open to negotiating prices on new orders this week.

SMU’s Monthly Review provides a summary of key SMU steel market metrics for the previous month, with the latest data updated through February 28th.

Prices for six of the seven steelmaking raw materials SMU tracks are increased from January to February, according to our latest analysis.

SMU’s Current Buyers’ Sentiment Index rocketed up this week, while the Future Buyers’ Sentiment Index edged down. The two indices are almost at parity.

Buyers responding to our latest market survey reported that steel mill lead times were stretching out this week for sheet and plate products tracked by SMU. The results weren’t much of a surprise. Production times have begun moving out following a wave of frenzied buying in response to stricter Section 232 announced by the Trump […]

Mills’ flexibility on price for spot orders has taken a nosedive to levels not seen since the end of March 2023.

After reaching multi-month lows in mid-January, SMU’s Steel Buyers’ Sentiment Indices rebounded this week to some of the highest readings recorded in months.

While we have seen some movements in recent weeks, steel mill production times remain within a few days of the historical lows observed over the last two years, a trend observed since mid-2024.

Steel mill negotiation rates have declined in each of our last two surveys; this week’s rate is the lowest recorded since March 2024.

SMU’s Monthly Review provides a summary of important steel market metrics for the previous month. Our latest report includes data updated through January 31st.

Prices for the seven steelmaking raw materials SMU tracks moved in differing directions from December to January, according to our latest analysis.

SMU’s Steel Buyers’ Sentiment Indices saw a slight decline this week, slipping to levels last observed in early November

Steel mill lead times were mixed across the sheet and plate products SMU tracks, according to buyers responding to our latest market survey.

The majority of steel buyers we canvassed this week continue to report that mills are willing to negotiate prices on new spot orders, though not as much as they were in early-January.  

Both SMU Steel Buyers' Sentiment Indices remain in positive territory, indicating that steel buyers are optimistic about the success of their businesses.

Buyers participating in our first market survey of 2025 reported a slight decline in mill lead times compared to our last survey in mid-December. After rising moderately in early December, lead times edged lower through this week and are now only slightly above the lows seen back in July and November. Overall, production times have remained historically short since last summer, with minimal movement since then.

SMU’s Monthly Review provides a summary of important steel market metrics for the previous month. Our latest report includes data updated through December 31st.

Both of our Sentiment Indices remain in positive territory and indicate that steel buyers are optimistic about the success of their businesses.

Steel mill production times have seen very little change since September, according to buyers participating in our latest market survey.

Steel buyers of sheet and plate products say mills are still willing to bend on spot pricing this week, though not quite as much as they were two weeks prior, according to our most recent survey data.

Trends in energy prices and active rig counts are leading demand indicators for oil country tubular goods (OCTG), line pipe and other steel products

Referred to as ‘apparent steel supply’, we calculate this volume by combining domestic steel mill shipments with finished US steel imports and deducting total US steel exports.

Monthly imports have remained within a relatively narrow range since June, significantly lower than volumes seen earlier this year, but stronger than late-2023 levels.

SMU’s Current Steel Buyers’ Sentiment Index slipped this week, while Future Sentiment remained flat, according to our most recent survey data.

Production times are marginally higher than those seen in recent weeks, now closer to levels witnessed throughout October.

A high percentage of the steel buyers we polled this week continue to respond that mills are open to price negotiation for new spot orders. Rates have been high for the majority of the year.

This week, the spread between SMU's hot rolled and galvanized indices is only a few dollars away from a 16-month low.

Steel sheet prices remain at or near multi-month lows, while plate prices continue edging lower from their mid-2022 peak.