• Skip to main content

    Market Data

    October 23, 2014

    LNG Exports a Game Changer for U.S. Economy

    Written by John Packard

    Paul Lowrey of Steel Research Associates was discussing the size of the market segments with SMU back in September during our Steel Summit Conference in Atlanta. He was making sure that we were aware that the energy markets are now the largest steel consuming segment of the steel industry, especially if you take into consideration some of the major construction projects associated with natural gas. Mr. Lowrey has promised to provide data supporting his contention in a future edition of our newsletter.

    On Wednesday of this week, Steel Market Update attended an energy conference sponsored by Louisiana State University (LSU) in Baton Rouge, LA. The focus of the conference was on the status of the tight gas and shale oil plays with special emphasis on those areas located close to, or within the borders of, Louisiana.

    John Packard

    Read more from John Packard

    Latest in Market Data

    Final Thoughts: Do Mesabi Metallics and Hyundai-POSCO signal more foreign steel investment in US?

    Could two new steel projects signal a new direction in the marketplace? Both Mesabi Metallics’ recently announced steel facility in Iowa and the Hyundai-POSCO’s proposed mill in Louisiana are major undertakings. You don’t spitball a major steel mill and then start producing the next day. From initial concept to site selection and on up to the first melt, there is a labyrinth of permitting, planning, and construction to navigate before the first heat.

    Lead times extend deeper into 2027, some see no availability until late Feb

    Lead times for sheet and plate products continue to extend in a US steel market still in the grip of a historic supply squeeze, according to the latest SMU steel market survey data. Average lead times now extend into late January 2027, with some mills not quoting availability until mid/late February. Lead times for all sheet products except Galvalume stand at their highest point since the post-Covid demand snapback in 2021. And plate lead times have exceeded their 2021 peak, repeatedly setting new record highs in our data series over the past month. (We started collecting plate lead time data in 2018. Our sheet lead time figures go back to 2012.)

    SMU flat-rolled market survey results now available

    The results of the latest Steel Market Update (SMU) flat-rolled market survey are now available on our website to all premium members. After logging in, look under the Data tab for Market Reports, and there you will find the Flat-Rolled Survey Results section. Previous survey results are also available on that page. If you need help accessing these results, or if your company would like to have your voice heard in our future surveys, contact smu@crugroup.com.

    SMU Survey: Steel mill negotiations remain rare as buyers face tight supply

    Only 5% of steel buyers surveyed by SMU this week said mills were willing to negotiate lower prices for new spot orders, suggesting mills retain substantial pricing leverage in a tight market. The share rose two percentage points from our previous survey two weeks ago but was nine points below the mid-October reading. This week's rate is just slightly higher than our previous survey when the negotiation rate fell to 3% — its lowest level since July 2021. Negotiation rates have trended downward all year as steel prices have continued to climb.