Steel buyers responding to this week’s SMU market survey report a continued softening in sheet lead times. Meanwhile, plate lead times have moderately extended and are at a one-year high.
Nearly half of the steel buyers responding to this week’s SMU market survey say domestic mills are showing increased willingness to negotiate pricing on new spot orders. This marks a significant shift from the firmer stance mills held in prior weeks.
Current Sentiment Index dropped six points to +42 this week compared to two weeks earlier. It has fallen in every successive survey since reaching a 2025 high of +66 on Feb. 19.
Steel service center shipments and inventories report through March 2024.
The amount of finished steel that entered the US market in February receded from January’s peak, according to our analysis of Department of Commerce and American Iron and Steel Institute (AISI) data.
SMU’s Buyers’ Sentiment Indices experienced multi-point declines this week, though both remain positive and continue to reflect optimism among steel buyers for their companies' ability to be successful.
SMU's Current Scrap Buyers' Sentiment Index remained flat this month, while the Future Sentiment Index declined.
Buyers responding to our latest market survey reported that sheet lead times continue to gradually decline from recent highs. Meanwhile, plate lead times increased to levels last seen one year ago.
Four out of every five steel buyers who responded to our latest market survey say domestic mills are unwilling to negotiate on new order spot pricing. Mills have shown little flexibility on pricing for nearly two months.
SMU’s Monthly Review provides a summary of our key steel market metrics for the previous month, with the latest data updated through March 31.
SMU’s Buyers’ Sentiment Indices showed mixed movements this week but remain strong, reflecting continued confidence among steel buyers.
Are President Trump's tariff policies helping? Steel buyers offer their opinions on the impact of Trump's tariffs.
After a multi-week increase, buyers responding to our market survey this week reported that lead times are stabilizing or marginally declining for each of the sheet and plate products we track.
The majority of the steel buyers responding to our latest market survey continue to report that domestic mills remain firm on pricing, showing little willingness to talk price on new spot orders this week.
The HRC vs. prime scrap spread increased again in March.
Prices for five of the seven steelmaking raw materials tracked by SMU increased from February to March, according to our latest analysis.
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