Market Data
May 30, 2023
New orders for manufactured durable goods increased for the second consecutive month in April, rising 1.1% from the previous month to $283.0 billion, according to the US Census Bureau.
This follows a 3.3% month-over-month (MoM) gain in March, according to Census data.
Sheet and plate prices continued to move higher on market dynamics that have carried headlines for much of the second half of the year: scarce spot tons, long lead times, production delays, lean inventories, and stable demand.
Domestic raw steel output declined last week, after seeing continued swings over the past several weeks, according to the latest American Iron and Steel Institute (AISI) figures.
Nucor's consumer spot price for hot-rolled increased by $10/st w/w on Monday, Oct. 5 to $1,230 per short ton.
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.