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
ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.
Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.
Chicago Business Barometer catches cold winds of contraction in September
The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.
Metalforming market sentiment takes a dive in September: PMA
Metalforming manufacturers anticipate a decrease in near-term conditions, according to the Precision Metalforming Association's (PMA) Business Conditions Report for September.
AIA: Architecture firms still under pressure
Architecture firms reported a modest improvement in billings through August, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.