Where the steel community comes together
Keeping a finger on the pulse of the flat-rolled steel market with the latest steel news, prices, and industry updates
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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.
Events and Training
We are proud to be an industry leader with our nationally recognized trainings and events, like the Steel Summit Conference and Tampa Steel Conference. We offer in-person and virtual workshops in our Steel Industry Training Program across the country facilitated by industry experts.
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Latest news
SMU Steel Summit 2025: It’s coming at you fast!
Before you know it, we’ll all be singing those famous words made popular by Alice Cooper back in ’79 – “school’s out for summer!” But it’s not “all the girls and boys making that noise,” it’s the growing buzz around SMU’s Steel Summit 2025! So, while August might seem like a long way off, we’ve […]
Final Thoughts
We’ve talked about tariffs ad nauseam for much of the year. And I’m afraid this topic isn’t going away anytime soon. There’s a feeling that the tariff “can” will just be kicked down the road again and again, and again.
Leibowitz: Trump takes aim at trade with a tariff ‘punt gun’
The tariffs are intended to produce more investment and jobs in US manufacturing. But first, there will be a cosmic change, potentially wiping out millions of jobs in the short run. While administration officials will no doubt cringe at the comparison, it reminds me of the effort to undercut fossil fuels production to address climate change. Led by Democrats, the effort was to destroy fossil fuels so that renewable energy sources would have more space to grow. The result: inflation and electoral defeat in 2024.
Cliffs plans to idle three mills, cut 950 jobs on ‘insufficient demand and pricing’
Cleveland-Cliffs plans to indefinitely idle its steel mill in Riverdale, Ill., as well as mills in Conshohocken, Pa., and Steelton, Pa.
The Cleveland-based steelmaker said all three facilities would be idled on or around June 30. Approximately 950 jobs will be impacted, the company said.
SMU’s April at a glance
SMU’s Monthly Review provides a summary of our key steel market metrics for the previous month, with the latest data updated through April 30.
Commerce debuts ‘inclusions process’ for steel, aluminum derivative products
The US Commerce Department has set up an “inclusions process” to add derivative aluminum and steel articles within the scope of the new Section 232 tariffs.
SMU’s Week in Review: April 28-May 2
With so much happening in the news cycle, we want to make it easier. Here are highlights of what’s happened and a few things to keep an eye on this upcoming week.
Rig counts trend lower in US and Canada
Oil and gas drilling activity eased in both the US and Canada this week, according to Baker Hughes. US rig counts remain near multi-year lows, and Canadian activity continues its seasonal slowdown.
Miller on Scrap: May prices seen poised for a decline
The US scrap market should start to form next week, and the outlook is for another drop in the delivered cost of material.
SMU Survey: Steel Buyers’ Sentiment Indices see modest recovery
SMU’s Buyers’ Sentiment Indices both improved this week, reversing the decline seen two weeks ago.
SMU Community Chat: Bilstein’s Wilson talks tariffs and pretzels
Brent Wilson talks about the different takes on President Trump’s tariffs in Europe and the US.
Wittbecker on Aluminum: When do the tariffs reach Main Street?
Containers sailing from China in April are down 15%-20% and Hapag Lloyd says their future bookings transpacific are down 30%.
Featured
Steel 101 Workshop
Our instructors will present the structure of the steel industry and the steelmaking process. We’ll start with raw materials and continue downstream to hot rolling, cold rolling, and coating. Whether you are new to the industry or are experienced and changing roles, our experts will help you gain the knowledge to succeed!
SMU Steel Summit
The SMU Steel Summit has gone from strength to strength over the last few years, growing from 434 attendees in 2016 to nearly 1500 in 2023. Representing more than 500 companies from the North American Steel Market, this is the event to learn what the future holds and to network and do business. Mark your calendars for Aug. 26-28, 2024.
Survey Results
Discover valuable insights into steel prices with SMU’s market survey. Our timely analysis of lead times, mill negotiations, inventory trends, and market sentiment empowers informed decision-making in a dynamic industry. Stay ahead of the curve and maximize your opportunities.
Community
Join us for our Community Chat Webinars! Every other Wednesday, we give our community the opportunity to hear from experts discussing topics important to the steel community we serve.
Pricing
Interactive Pricing Tool
Chart steel and scrap prices against key indicators with our Interactive Pricing Tool.
Flat-Rolled Steel Prices
Steel Pricing Momentum
Flat Rolled Lead Times
Steel Buyers’ Sentiment
Mill Spot Price Negotiations
