SMU Data and Models
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/39bfcfa84c0a7b111ace3509333cbdd2.jpg)
SMU Market Trends: Another Price Hike by Thanksgiving?
Written by Tim Triplett
November 5, 2017
Is another mill price hike likely? Nearly 60 percent of respondents to Steel Market Update’s market trends questionnaire earlier this week said they do expect the steel mills to make another price announcement this month before the Thanksgiving holiday on Nov. 23. The other 40 percent are doubtful. Following are some of their comments:
· “Yes, I’m 99 percent certain.” Service Center/Wholesaler
· “Yes, they will raise them and probably be a lot more successful with it next time.” Service Center/Wholesaler
· “Yes, if lead times continue to extend.” Steel Mill
· “Yes, zinc will have to be addressed if it stays in the present range.” Steel Mill
· “Yes, once domestic mills get into January shipments they will try to raise prices again. It depends on the product.” Trading Company
· “Yes, they will keep announcing until prices stick and HR gets back up over $600.” Service Center/Wholesaler
Most service center executives who don’t expect another price hike hedged their comments. “No, not unless scrap goes up,” said one. “Some mills might increase their extras. Zinc is still a wild card,” said another. “No, unless circumvention and Section 232 result in some punitive actions. There’s plenty of steel, demand has softened and there’s too many distributors with lots of inventory right now,” concluded a third.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/tim-triplett.jpeg)
Tim Triplett
Read more from Tim TriplettLatest in SMU Data and Models
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Premium1.png)
Steelmaking raw material prices ease in July
The majority of steelmaking raw material prices declined in June, following the same trend seen in May, according to SMU’s latest analysis.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/01/cropped-SMU_Mobile_final.png)
SMU price ranges: HR declines moderate. Are we near a bottom?
SMU’s sheet price ranges slid again this week. But the declines were more pronounced on tandem products whereas prices for hot-rolled coil held roughly steady.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Premium1.png)
Some SMU Key Market Indicators improve, others remain near historic lows
SMU’s Key Market Indicators include data on the economy, raw materials, manufacturing, construction, and steel sheet and long products. They offer a snapshot of current sentiment and the near-term expected trajectory of the economy. All told, nine key indicators point lower, 16 are neutral, and 13 point higher. One thing worth noting: The nine indicators pointing lower are all lagging indicators. Many of those pointing upward are leading indicators.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/01/cropped-SMU_Mobile_final.png)
SMU survey: Steel Buyers’ Sentiment Indices rebound
SMU’s Steel Buyers’ Sentiment Indices both saw improvement this week. Current sentiment ticked higher but remains near the four-year low seen earlier this month. Future Sentiment continues to indicate that buyers are optimistic for future business conditions.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Premium1.png)
SMU market survey results now available
The latest SMU market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Historical survey results are also available under that selection. If you need help accessing the survey results, or if your […]