Global steel output rises in January
Global crude steel output rose 5% from December to January but still lagged last year.
Contributor: Brett Linton
Brett Linton
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Steelmaking raw materials more expensive in February
Prices for six of the seven steelmaking raw materials SMU tracks are increased from January to February, according to our latest analysis.
Steel market chatter this week
On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, inventories, imports and evolving market events.
SMU price ranges: The steel rocket ship continues to soar higher
Market participants might disagree over how high flat-rolled steel price might go and for how long they might remain elevated. But there is near total agreement on one thing: Prices are up sharply again this week. The gains come on the heels of waves of mill price increases (for sheet and for plate), expectations that scrap prices will rise again in March, and the threat of tariffs looming over the market.
AISI: Raw steel output dips for second week
US steel mills produced an estimated 1,659,000 short tons (st) of raw steel last week, according to data recently released by the American Iron and Steel Institute (AISI).
Buyers optimistic for strong scrap market in March
Buyers are optimistic for a strong scrap market in March, driven by limited scrap inflows from severe weather disruptions and increasing mill demand.
AISI: Raw steel output and capacity utilization slip
US steel mills produced an estimated 1,670,000 short tons (st) of raw steel last week, according to recently released American Iron and Steel Institute (AISI) figures.
Nucor lifts HR coil to $820/ton
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.
February energy market update
In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.
HVAC equipment shipments slow in December but strong annually
Shipments of heating and cooling equipment in the US fell to an 11-month low in December, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
Great Lakes iron ore trade tumbles in January
Iron ore shipments on the Great Lakes saw a sharp decline in January 2025, according to the Lake Carriers’ Association (LCA).
Steel market chatter this week
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.
Dodge Momentum Index jumps to record high in January
The Dodge Momentum Index (DMI) rose to a record high in January, according to the latest data released by Dodge Construction Network.
SMU price ranges: Sheet and plate see widespread gains on higher scrap and trade measures
Each of the steel product prices tracked by SMU saw significant increases this week. All four of our sheet price indices rose by $30-50 per short ton (st) on average. Plate prices popped $60/st compared to the week prior.
Apparent steel supply rebounds in December, but 2024 total at 4-year low
Apparent US steel supply rebounded in December, but 2024 was still the lowest level for supply since 2020.
Steel exports drop to 2-year low in December
December 2024 marks the fourth month in a row that steel exports have declined, now at the lowest monthly rate recorded since December 2022.
AISI: Raw steel production climbed last week
US mills produced an estimated 1,675,000 short tons (st) of raw steel last week, the highest weekly rate recorded since mid-December according to data recently released by the American Iron and Steel Institute (AISI).
US steel imports inch up in December, surge in January
Following the one-year low recorded in November, steel imports rose by 3% in December to 2.14 million short tons (st) according to final US Commerce Department data. January could be the highest month for steel imports witnessed in nearly three years.
US rig counts inch up, Canadian activity falls
US rig counts remain marginally above multi-year lows. The drop in Canadian activity comes just one week after reaching a near seven-year high.
SMU Survey: Steel Buyers' Sentiment indicates increased optimism
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.
SMU Survey: Mill lead times fluctuate, extensions expected
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.
SMU Survey: Mills less willing to negotiate on prices
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 price ranges: Market picks up steam
SMU’s steel price indices rose across the board this week. Sheet prices increased as much as $35 per short ton (st) compared to last week, while our average plate price ticked up by$10/st.
ISM: Manufacturing expands in January for first time in years
Following more than two years of contraction, US manufacturing activity rebounded in January according to the Institute for Supply Management.
SMU's January at a glance
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.
AISI: Weekly raw steel output ticks higher
The volume of raw steel produced by US mills slightly increased last week, according to American Iron and Steel Institute (AISI) data. Last week’s production rate represents the second-highest level recorded this year.
Active rig counts tick higher in US and Canada
The number of active drill rigs operating in the US and Canada increased this week, according to Baker Hughes
Steelmaking raw material prices mixed in January
Prices for the seven steelmaking raw materials SMU tracks moved in differing directions from December to January, according to our latest analysis.
Steel market chatter this week
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.
SMU price ranges: HR, plate rise as momentum builds, coated stuck in neutral
SMU’s sheet prices were mixed this week. Hot-rolled (HR) coil and plate notched gains while prices for coated products stagnated or dipped lower. Our HR price now stands at $700 per short ton (st) on average, up $15/st from last week and marking the highest level for HR prices since $705/st in early October. SMU’s […]