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Market Update | May 7, 2025

New home sales increased for the second consecutive month in March and was at its highest monthly rate since September. March new home sales came in at a 724,000 unit rate, up 7.4% from February and up 6.0% from the 683,000 unit rate in March 2024. Sales have now increased, on a year-over-year basis, in back-to-back months, and in four of the last five months. The inventory of unsold new homes held steady, ending the month flat from the end of February at 493,000 units. The month-end inventory, when combined with March's sales rate, equates to 7.1 months of supply.

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Market Update

Market Update | April 23, 2025

New home sales increased for the second consecutive month in March and was at its highest monthly rate since September. March new home sales came in at a 724,000 unit rate, up 7.4% from February and up 6.0% from the 683,000 unit rate in March 2024. Sales have now increased, on a year-over-year basis, in back-to-back months, and in four of the last five months. The inventory of unsold new homes held steady, ending the month flat from the end of February at 493,000 units. The month-end inventory, when combined with March's sales rate, equates to 7.1 months of supply.

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Market Update

Market Update | April 9, 2025

While dropping on a month-over-month basis, total carbon steel consumption was up compared to last February. February total steel consumption came in at a 277.3k tons/day rate, up 1.2% compared to last February. Carbon sheet consumption saw similar trends, sliding 6.8% from January but climbing 3.45 from last February to a 148.5k tons/day rate. This was the highest February daily rate since 2020.

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Market Update

Market Update | March 26, 2025

Now up for the second consecutive month, durable good new orders increased 0.9% in February to a $289.3 billion rate and follows a 3.3% increase in January. Excluding transportation, new orders were up 0.7% compared to January. New orders for both primary metals and fabricated metal products increased in February, climbing 1.2% and 0.9%, respectively. ​Nondefense capital goods (ex. aircraft) new orders slipped however, sliding 0.3% after seeing a 0.9% increase in January.

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Market Update

Market Update | February 26, 2025

The upward pricing momentum accelerated this week with prices now closing in on nine-month highs, with current mill offerings closer to fresh 52-week highs. Increased buying activity, steady demand, and rising costs, particularly from scrap, continue to add fuel to the current market upswing.

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Market Update

Market Update | February 26, 2025

The upward pricing momentum accelerated this week with prices now closing in on nine-month highs, with current mill offerings closer to fresh 52-week highs. Increased buying activity, steady demand, and rising costs, particularly from scrap, continue to add fuel to the current market upswing.

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Market Update

Market Update | February 12, 2025

President Trump said on his first day in office during an Oval Office signing ceremony that his administration is planning to impose 25% tariffs on Mexican and Canadian imports as soon as February 1. He also said his administration is not yet ready to impose universal tariffs. As a reminder, the U.S. receives about 40% of its imported steel from Canada and Mexico and sends 90% of its exported steel to those two countries. The 25% tariffs on Canada and Mexico are likely to support steel prices.

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Market Update

Market Update | February 6, 2025

President Trump said on his first day in office during an Oval Office signing ceremony that his administration is planning to impose 25% tariffs on Mexican and Canadian imports as soon as February 1. He also said his administration is not yet ready to impose universal tariffs. As a reminder, the U.S. receives about 40% of its imported steel from Canada and Mexico and sends 90% of its exported steel to those two countries. The 25% tariffs on Canada and Mexico are likely to support steel prices.

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Market Update