Market Data
February 15, 2024
Written by Laura Miller
Mill lead times for flat-rolled steel were mostly stable over the past two weeks. With several mills slow to come out of outages and upgrades, cold rolled and coated lead times have been holding up a bit better than hot rolled.
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.