Sheet and plate prices surged higher this week on a wave of what some called “panic buying” following the Trump administration’s announcement of stricter Section 232 measures last week.
Business activity in New York state’s manufacturing sector recovered nicely in February after a sharp decline the previous month, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York. The general business conditions index rose 18 points to 5.7. This is a diffusion index, where a positive reading signifies […]
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.
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.
Iron ore shipments on the Great Lakes saw a sharp decline in January 2025, according to the Lake Carriers’ Association (LCA).
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.
December 2024 marks the fourth month in a row that steel exports have declined, now at the lowest monthly rate recorded since December 2022.
SMU’s inaugural ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past flat-rolled survey results are also available under that selection. If you need help accessing the survey results, or […]
Steel mill negotiation rates have declined in each of our last two surveys; this week’s rate is the lowest recorded since March 2024.
Canada fights back, a little As this article was about to be posted, Canada had not backed down to US President Trump’s 25% tariffs coming for Canadian goods at the stroke of midnight. In fact, the Government of Canada had pushed back, saying it would implement 25% tariffs on $155 billion worth of US products […]
North American auto assemblies dropped in December, a sharp 22.6% fall below November, reaching the lowest mark in over three years. Assemblies were also down 5.7% year on year (y/y), according to LMC Automotive data. December’s assemblies reached the lowest total since July 2021. Sentiment remains tempered as carmakers continue to downgrade and adjust vehicle […]
US light-vehicle (LV) sales jumped to an unadjusted 1.49 million units in December, a rise of 9.6% from November and 2% from a year ago, according to data from the US Bureau of Economic Analysis. On an annualized basis, LV sales were 16.8 million units in December, up from 15.6 million units the month prior […]
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.
The volume of crude steel produced around the world declined 2% month over month (m/m) in December, according to the World Steel Association (worldsteel). This is the second-consecutive monthly decline in production, following November’s 3% m/m drop.
SMU’s Steel Buyers’ Sentiment Indices saw a slight decline this week, slipping to levels last observed in early November
Architecture firms reported a sharp reduction in billings in December, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
Sheet and plate prices remained in a holding pattern this week as the market awaited more specifics on potential Trump administration tariffs.
Recent Federal Reserve data indicates that the US manufacturing sector remains healthy and stable. The strength of the manufacturing economy has a direct relationship to the health of the steel industry.
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.
The amount of steel exiting the country continued to decline through November, falling to an 11-month low, according to the latest US Department of Commerce data. This is the third month in a row that steel exports have eased and the second-lowest monthly rate recorded in almost two years.
Oil and gas drilling activity declined in the US this week, while Canadian rig counts saw a rebound, according to the latest data from Baker Hughes.
The deal was cleared by the Czech Republic’s anti-trust office which says the transaction will not distort competition.
The number of active oil and gas rigs operating in the US held steady this week for the fifth consecutive week, while Canadian activity declined further, according to the latest figures released from Baker Hughes.
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.
Construction spending inched higher in November for a second straight month.
Both of our Sentiment Indices remain in positive territory and indicate that steel buyers are optimistic about the success of their businesses.
We have seen very little change in sheet and plate prices across the past month.
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.
The volume of steel exported from the country declined in October for the second-consecutive month, following a one-year high in August.
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.