SMU Price Ranges & Indices: Goldilocks Market

Steel Market Update is conducting one of our flat rolled steel market surveys this week. Part of our survey deals with hot rolled pricing, cold rolled pricing, galvanized and Galvalume pricing and what is available in the spot market this week. We are market conditions as being firm but not too firm. Steel executives, buyers and mill salespeople are reporting negotiations as existing when there are firm tons to place. One steel executive put it to SMU this way earlier today, “The mills are being very careful to keep prices up. If you go to them and tell them you need this and that they will work with you.”

At the moment, supply and demand appear to be reasonably balanced with some minor exceptions. The continuation of supply disruptions has helped those mills who would otherwise be more actively seeking orders in the spot markets. However, it appears we are nearing an end to the disruptions if AK Steel can get the Ashland blast furnace back up and running properly in the not too distant future. The big furnace at ArcelorMittal Indiana Harbor (#7) is ramping back up and over time the 10,000+ tons per day could make a difference.