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    Analysis

    May 1, 2022

    Final Thoughts

    Written by Michael Cowden

    The steel market has adapted to the shock of the war in Ukraine – and it’s become clearer with each passing week that a steeper price decline than we have seen to date might be in store.

    I wrote on Thursday that the headline data from our latest survey indicated the market had peaked. I pointed to falling lead times, mills willing to negotiate lower prices (especially for hot-rolled coil), and wide spreads between US HRC prices and those abroad (especially in Asia).

    Michael Cowden

    Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

    Read more from Michael Cowden

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