I was watching the daily results from our SMU steel survey which began on Monday of this week. I found it curious those working on Monday (a holiday to some, but not all in the U.S.) were much more negative than those who responded to our survey as the week progressed. Our SMU Steel Buyers Sentiment Index was at +11 on Monday but by the close of the survey on Thursday had improved to +22…
We have discontinued reporting SMU Future Steel Buyers Sentiment Index numbers – however, the data is still being collected and reported on our website. You can access the data in the Research section of our website: www.SteelMarketUpdate.com.
The final tally of opinions as to which company or joint venture group would be the best fit to operate the ThyssenKrupp Calvert, Alabama facility – USS/JFE = 37%, Nucor = 22%, CSN and ArcelorMittal/Nippon tied with 17.5% each and bringing up the rear was Posco with 6%. The biggest reason given for USS/JFE was their excess slab supply out of their Alabama facility located in Birmingham. Nucor was mentioned as the #2 option with their new DRI facility in Louisiana (which has the permits to eventually put in a blast furnace/BOF and make slabs).
In Sunday night’s edition of SMU we will discuss more issues which were covered in this week’s survey. Our next survey will begin on Monday, March 4th.
As always your business is truly appreciated.
John PackardRead more from John Packard
Latest in Steel Products
Worldsteel: Global Output Slides in August
Global steel production tapered off in August vs. July, according to the latest figures from the World Steel Association (worldsteel).
UAW Has Upper Hand vs. Automakers: Schenker
The United Auto Workers (UAW) union has more leverage than the Detroit Three automakers in the current strike that started Sept. 15, according to Jason Schenker, president of Prestige Economics.
US Rig Count Drops, Canada Unchanged
The number of active oil and gas drilling rigs in the US dropped this week, while Canada’s count remains unchanged, according to the most recent data from oilfield services company Baker Hughes.
CRU: Demand-side Factors to Create Drag on Global Sheet Markets
Demand will be the determining factor in what happens to steel sheet prices globally for the remainder of the year, and most risks right now are to the downside. An autoworkers strike has started in the USA and could increase price volatility in the domestic sheet market. The longer and more severe this strike is, […]
CRU: UAW Strike Impact on Aluminum
The LME aluminum 3-month price was up 0.8% on the morning of Friday Sept. 22. It was last seen trading at $2,238/metric tons, remaining above the $2,200/t mark for most of the past week.