Steel Products
SMU Comparison Price indices: Everyone Creeping Prices Up
Written by John Packard
February 11, 2013
Prices crept up on most of the indexes watched by Steel Market Update on a regular basis – even the straggler, Steel Orbis, raised their indices last week. CRU and Steel Orbis are at the low end of the range for Benchmark hot rolled with SMU and SteelBenchmarker somewhere in the middle and Platts at the high end of the range. SteelBenchmarker did not produce new numbers this past week (they only publish prices twice per month).
The various indices are confirming what our SMU steel market survey has also been gathering regarding market intelligence this past week. The domestic steel mills raised prices $40-$50 per ton the week of January 21st. Our survey respondents suggest that a portion of the increase is being collected by the domestic industry and our index and the other indices suggest that is indeed what is happening. Of those responding to our survey 70 percent reported “some” of the increase was attempted at being collected by the domestic steel mills. Only 18 percent reported mills attempting to collect all of the increases and the smallest portion – 12 percent – told us none of the increase was being attempted to be collected.
John Packard
Read more from John PackardLatest in Steel Products
September energy market update
In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels through September. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
U.S. Steel to halt slab conversion at Granite City Works
U.S. Steel said it plans to reduce slab consumption at its Granite City Works near St. Louis, a company spokesperson said on Monday. The Pittsburgh-based steelmaker will shift the production and processing of steel slabs to its Mon Valley Works near Pittsburgh and its Gary Works near Chicago. Citing a United Steelworkers (USW) union memo, […]
SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.
HR Futures: Market finds footing on supply-side mechanics
As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.