Economy
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/f7d989f11197aa642ca7e06d45aebbfc.jpg)
April 2018 at a Glance: Prices Plateau?
Written by Brett Linton
May 1, 2018
Steel Market Update downshifted its price momentum indicator from higher to neutral in late April as steel buyers reported stability in most products and prices appeared to have plateaued, at least in the short term. At month’s end, hot rolled was selling for about $873, cold rolled for just over $1,000, galvanized for around $1,100, and plate for about $974 per ton. Steel prices have increased by 16 percent in the past three months.
Steel shipments continue strong in the second quarter as seasonal demand picks up. Buyers sentiment remained at optimistic levels ahead of the Trump administration’s decision May 1 on steel tariffs. Late yesterday, the administration announced that it would extend some tariff exemptions for another month to give countries more time to negotiate quotas or other import measures.
Scrap prices saw modest $10 to $15 increases in April, but are forecast to experience normal seasonal declines in May as scrap flows increase and boost supply in the post-winter months.
The energy market is heating up as oil topped $70 a barrel. The U.S. rig count has now moved back over 1,000, which is good news for producers of OCTG.
Service center inventories in April saw little change from March at about 2.31 months of supply, according to SMU inventory data. Distributors are running fairly lean as the tariffs have made import offerings scarce and many are waiting to see if there’s a price correction in the second half.
Those are some of the highlights for the month of April. See the month-at-a-glance below for much more information on market conditions.
To see a history of our monthly review tables, visit our website.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/04/SMU_BL_headshot-V4-150x150.png)
Brett Linton
Read more from Brett LintonLatest in Economy
Metalformers expect steady conditions in coming months
Metalformers expect economic activity to stabilize over the next three months, according to the recently released July Business Conditions Report from the Precision Metalforming Association (PMA).
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/construction.png)
Architecture Billings Index rises from 4-year low in June
The Architecture Billings Index (ABI) ticked up in June following May’s four-year low, according to the American Institute of Architects (AIA) and Deltek. While the index improved this month, it continues to indicate weak business conditions among architecture firms.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/FedRes.png)
Beige Book: Uncertainty to continue fueling slower economic growth
Growth in the US economy continues to be constrained. The Federal Reserve’s Beige Book report for July shows more areas reporting flat or declining economic activity than in its previous report at the end of May.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/AISI.png)
AISI, AISC, University of Massachusetts get ~$6.4M EPA grant
The American Iron and Steel Institute (AISI), American Institute of Steel Construction (AISC), and the University of Massachusetts at Amherst have received a grant to enhance emissions reporting for steel construction projects.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/12/empire_state_1-scaled.jpg)
Manufacturing activity in New York state continues to soften
New York state saw a continued decline in manufacturing activity in July, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.