SMU Data and Models
SMU Survey: Lead Times Pull Back on Hot Rolled and Cold Rolled
Written by John Packard
May 8, 2014
Steel Market Update conducted our early May flat rolled steel market survey this week and the results are raising some questions as to whether the tightness in supply is beginning to abate. We found hot rolled lead times as shrinking half a week and cold rolled a little more than what we had reported from the previous survey conducted in the middle of April. However, lead times are extended when compared to this same time last year.
The next key will be to watch mill negotiations to see if any cracks are developing or if the mills at this point in time consider this a blip on their radar screens.
We did have a conversation with the president of a mid-sized service center earlier today who reported cold rolled spot tonnage being available at AK Steel, Mittal, Severstal and US Steel for production during the month of June. “They have plenty of steel,” he told us, “However, prices are not cheap. First comes availability and then it becomes price….”
John Packard
Read more from John PackardLatest in SMU Data and Models
SMU Survey: Sheet lead times ease further, plate hits one-year high
Steel buyers responding to this week’s SMU market survey report a continued softening in sheet lead times. Meanwhile, plate lead times have moderately extended and are at a one-year high.
SMU Survey: Buyers report more price flexibility from mills
Nearly half of the steel buyers responding to this week’s SMU market survey say domestic mills are showing increased willingness to negotiate pricing on new spot orders. This marks a significant shift from the firmer stance mills held in prior weeks.
SMU Survey: Buyers’ Sentiment Indices fall
Current Sentiment Index dropped six points to +42 this week compared to two weeks earlier. It has fallen in every successive survey since reaching a 2025 high of +66 on Feb. 19.
March service center shipments and inventories report
Steel service center shipments and inventories report through March 2024.
Apparent steel supply contracts in February
The amount of finished steel that entered the US market in February receded from January’s peak, according to our analysis of Department of Commerce and American Iron and Steel Institute (AISI) data.