Market Data
March 26, 2023
Written by Michael Cowden
We haven’t had a price increase since March 13, the Monday after Silicon Valley Bank collapsed.
It’s entirely possible we’ll get another round of price hikes should mills decide the market will support it or should they want to reverse any bearish sentiment before it gains traction.
The latest tally of active drilling rigs increased in Canada while slightly easing in the US this week, according to oil and gas rig count data published by Baker Hughes.
SMU’s Current Steel Buyers’ Sentiment Index fell this week, while Future Sentiment remained flat, according to our latest market survey.
The results of the latest Steel Market Update (SMU) flat-rolled market survey are now available on our website to all premium members.
The Chicago Business Barometer rebounded in September, returning to expansion after slipping into contraction in August.
Steel mill lead times continued to expand for sheet and plate products this week, according to buyers responding to our latest market survey.