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Keeping a finger on the pulse of the flat-rolled steel market with the latest steel news, prices, and industry updates
What we do
Pricing
Steel Market Update produces weekly price assessments, news, and analysis of market trends affecting prices and sentiment on the US steel market.
Trends and Analysis
Sentiment, Inventories, Prices, and Key Market Indicators – everything you need to quickly adapt in the dynamic steel industry.
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Latest news
Final Thoughts
SMU lets readers respond on their thoughts about President Joe Biden blocking Nippon’s deal for U.S. Steel.
Steel at top of Canada’s list for potential retaliatory tariffs
It feels a little like déjà vu: Trump threatens tariffs, Canada retaliates with tariffs of its own.
January ferrous scrap tags in US seen on the rise
The ferrous scrap market at the start of the new year came into focus late yesterday, with overall prices seen rising from December.
SMU Survey: Mill lead times short and steady to start 2025
Buyers participating in our first market survey of 2025 reported a slight decline in mill lead times compared to our last survey in mid-December.
After rising moderately in early December, lead times edged lower through this week and are now only slightly above the lows seen back in July and November.
Overall, production times have remained historically short since last summer, with minimal movement since then.
Dodge Momentum rebounds in December
Improved growth in data center planning and warehousing projects helped the Dodge Momentum Index (DMI) rebound in December.
Radius Recycling reports another quarterly loss
The company said the biggest headwind it’s facing is the downturn in manufacturing.
SMU Survey: Most buyers still report mills are flexible on prices
Steel buyers say mills remain open to negotiation on sheet and plate spot prices this week, slightly more so than in mid-December, according to our most recent survey results.
US HR price premium over imports edges higher
Hot-rolled (HR) coil prices ticked up in the US last week, while tags in offshore markets were mostly unchanged. The result: US hot band is more expensive than imports on a landed basis.
ILA, port operators reach tentative deal to avoid strike
Both sides had agreed to extend the current contract to Jan. 15 to continue talks
SPS Companies and State Steel combine service center businesses
Steel fabricators and distributors SPS Companies and State Steel will be merging their service center businesses under the SPS Companies family of firms.
Hyundai mulls building $6B sheet steel mill in southern US
Hyundai Motor Group is reportedly considering building a sheet steel mill just south of Baton Rouge, La.
AZZ seeking M&A opportunities as Q3 earnings rise
AZZ Inc. is looking to make some deals after focusing on paying down debt.
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Pricing
Interactive Pricing Tool
Chart steel and scrap prices against key indicators with our Interactive Pricing Tool.