Cleveland-Cliffs Inc. pointed to signs of recovery in its third-quarter earnings report on Monday. Improved automotive volumes and a better product mix drove sequential gains, but the steelmaker’s financials continue to bled red.
Genuine demand, they stated, will return when the market feels stable again.
US domestic sheet prices have remained rangebound in recent weeks as supply tightness met weak demand. Demand for steel produced in the US increased among some Mexican industrial buyers....
Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.
The World Steel Association (worldsteel) Short Range Outlook for global steel demand predicts that 2025’s steel demand will clock in at the same level as in 2024. In its October report, the Brussels-based association stated that this year’s steel demand will reach ~1,750 million metric tons (mt). The organization forecasts a 1.3% demand rebound in 2026, pushing […]
Tariffs are ultimately to blame for stagnant demand in the hot-rolled coil market, domestic market sources tell SMU.
AZZ Inc. delivered steady results in its fiscal second quarter. While infrastructure-heavy work buoyed its Metal Coatings segment, its Precoat Metals business navigated softer building markets and tariff-driven uncertainty.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.
Market chatter from steel buyers this week: prices steady to slightly higher, demand weak, inventories slow, and tariffs clouding the outlook.
US rig counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.
SMU’s Steel Buyers’ Sentiment Indices diverged this week. The Current Steel Buyers’ Sentiment Index continued its recovery from the five-year low seen one month ago. Meanwhile, Future Buyers’ Sentiment gave back some of the ground gained in recent surveys.
We’ve been talking about a potential inflection point for the past couple of weeks. And the market does appear to be nearing one.
Sheet and plate buyers say mills remain open to negotiating spot prices this week, though less so than in recent weeks, according to SMU’s latest market survey.
Sheet prices are expected to increase in the coming weeks in most markets. However, rising domestic capacity in the US, subdued demand in Europe, and high inventory levels in China and India will limit price near-term uptrend.
Active rig counts increased in both the US and Canada last week, according to figures released by Baker Hughes. Although rising, US counts continue to hover just above historic lows. Canadian figures remain comparatively healthy, rising to a six-month high this week. Total US rig counts climbed by two week over week (w/w) to 539. […]
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.
A recurring theme in conversations with some of you and in the comments submitted in our surveys is concerns about demand and uncertainty around tariffs. Where does SMU’s latest opinion polling on President Trump’s tariffs stand? Let’s take a look at the numbers.
SMU’s Steel Buyers’ Sentiment Indices ticked higher this week, according to the latest data from our flat-rolled steel survey.
Nucor’s Dan Needham views the steelmaker’s flexibility and diversification as key to pivoting when economic conditions require.
Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.
Steel prices, end-use demand, inventory levels, tariffs, imports, and evolving market events... what is the steel industry talking about this week?
SMU’s Mill Order Index (MOI) moved higher in July after rebounding the month prior. The shift comes after mill orders declined from March through May.
On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.
Russel Metals posted its strongest quarterly revenue in three years, fueled by higher steel prices, steady demand, and near-record shipments across its service center network.
SMU’s Monthly Review provides a summary of our key steel market metrics for the previous month, with the latest data updated through July 31.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.
ArcelorMittal expects less demand growth across most of the markets it operates in, including the US, because of President Donald Trump’s tariffs. But the Luxembourg-based steelmaker also thinks it stands to benefit from an increasingly regionalized world thanks to investments like the new EAF at its mill in Calvert, Ala.
Resilient demand across its steel product lines, combined with the continued ramp-up of key expansion projects, drove Nucor’s improved financial results and record-setting performance in the second quarter. That’s according to company executives speaking on an earnings conference call on Tuesday.
The Steel Demand Index now stands at 42, up from 38.5 in early July, but off from a four-year high of 65.0 in late February.