Economy
November at a Glance
Written by John Packard
November 30, 2017
Flat rolled steel Price Momentum ended the month as it began, pointing to a sideways or “mixed” market. Our flat rolled steel price indices averages over the past three months show very little movement in steel prices. Benchmark hot rolled averaged $610 per ton, which is actually lower than the $620 average we saw at the end of September. Prices are up “modestly” compared to October when the latest round of price increases began.
MSCI reported flat rolled inventories at 2.1 months of supply. Our new service center flat rolled inventories index saw the market having more supply with our months of supply being 2.8 months.
At the same time, SMU analysis of the MSCI inventories levels (assuming they are correct) found the distributors inventories as being balanced with a -19,000 ton deficit.
You can learn more about our inventories analysis by becoming a Premium level member. If interested, please contact us at 800-432-3475 or info@SteelMarketUpdate.com.
Below you will find a number of the indices followed by Steel Market Update during the course of the month.
John Packard
Read more from John PackardLatest in Economy
Second steel derivatives S232 inclusion window opens, business community voices concern
The US Department of Commerce announced that its second window for submitting applications for the inclusion of derivative steel and aluminum products in Section 232 tariffs is now open, according to the US Federal Register. September’s Inclusion Window Sept. 15 through Sept. 29, applicants can email requests for inclusions to the Defense Industrial Base Programs. The first […]
Steel Summit: ITR economist urges execs to prepare for growth, not recession
If the steel industry professionals who made it to the very final presentation of this year’s SMU Steel Summit were expecting another round of cautious forecasting, they were in for a surprise. Because what they got was a wake-up call.
ISM: Manufacturing growth remained down in August
US manufacturing activity remained muted in August despite a marginal gain from July's recent low, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Steel Summit: Dr. Basu blames tariffs for riskier path ahead
Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.
Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.