Tag: demand

And just like that, we’re wrapping up the last SMU newsletter of 2024. We’re closing out our 19th year and looking with wide-eyed anticipation to what 2025 will bring.

The number of oil and gas rigs operating in the US remained unchanged this week for the second consecutive week, while Canadian activity declined, according to the latest data released from Baker Hughes.

This CRU Insight discusses a few key topics our clients have been asking about as 2024 comes to a close and 2025 begins. This piece introduces these topics briefly now before we discuss them in more detail in a webinar in January 2025. In previous years, we have published a year-end Insight on our ‘Top […]

On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

As my colleague Ethan Bernard noted in our most recent Final Thoughts, I don’t think many of us thought uncertainty would be mounting four weeks out from 2025. If anything, the general theme post-Steel Summit and into Q4 was that election night would be the turning point. And whatever had been keeping the steel market from building would finally get the jump-start it needed.

US plate prices are at their lowest level in nearly four years and mills continue to do what they can to limit the bleeding. Domestic prices are now just a fraction of their all-time high of $1,940 per short ton (st) reached in May 2022, and trending lower.

Steel Market Update’s Steel Demand Index recovered by nearly 10 points last week, though it still remains in contraction territory.

US rig activity has remained in multi-year low territory since June. Drilling in Canada has edged lower across the last few weeks but remains historically strong.

With climbing imports and falling consumption, the Latin American steel industry has had a challenging 2024, according to an Alacero report.

So far, nearly $570 billion in funding has been announced for over 66,000 projects and awards.

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. Rather than summarizing the comments we collected, we are sharing some of them in each buyer’s own words.

Another presidential election cycle has come to an end. If you’re anything like me, part of you is just happy you no longer need to unsubscribe or “text STOP to opt-out” from the onslaught of political text messages this cycle produced.  

US counts have hovered in this territory since June, just above multi-year lows. Canadian counts have trended lower since early October but remain historically high.

SMU’s Steel Buyers’ Sentiment Indices continue to show that steel buyers are optimistic about the success of their businesses, though that confidence has eased compared to earlier in the year.

The negative impact of high interest rates on consumer behavior, particularly in the automotive and housing sectors, was the primary driver of the demand weakness seen across the third quarter, according to Cleveland-Cliffs executives.

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.

Swedish steelmaker SSAB said its weaker third-quarter financial performance was due to muted demand, planned maintenance outages, and the continued decline of US plate prices.

Domestic steel champion Barry Zekelman joined SMU to discuss the latest issues impacting the US steel market.

Prices, demand, inventories, evolving market events... What are buyers and sellers of steel talking about this week?

The World Steel Association (worldsteel) has made significant downward revisions to its Short Range Outlook for global steel demand.

Everybody has an opinion about politics these days. More importantly for our readers, though, every business has a bottom line. A popular question in our most recent steel buyers survey asked how uncertainty around the upcoming US presidential election could affect that line.

SMU’s Key Market Indicators include data on the economy, raw materials, manufacturing, construction, and steel sheet and long products. They offer a snapshot of current sentiment and the near-term expected trajectory of the economy.

The latest Federal Reserve data paints a healthy and stable manufacturing sector. Steel Market Update is pleased to share this Premium content with Executive members.

On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

Steel Market Update’s Steel Demand Index ticked back seven points last week, falling further into contraction territory.

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

US manufacturing activity contracted for a fifth straight month in August, as reported in the latest release from the Institute for Supply Management (ISM). The Index has indicated contraction in the manufacturing sector for 21 of the last 22 months.

“It's been a very interesting year in that the price of scrap should have gone down earlier this year."

Flat-rolled steel prices have begun inflecting up on the back of mill prices hikes over the past couple of weeks. It’s a notable shift after tags slid downhill for most of the year. (There was a slight bump upward in late March/early April before the decreases resumed.) And now, after reaching levels not seen since […]

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.