Distributors/Service Centers
April 18, 2024
Written by Ethan Bernard
Metalformers expect economic activity to remain level over the next three months, according to the April Business Conditions Report from the Precision Metalforming Association (PMA).
Every month, PMA conducts a survey of ~100 metalforming companies in the US and Canada. The results give an economic indicator for the manufacturing sector for the next three months.
Earlier this week, SMU polled steel buyers on topics ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events. Below, we share a selection of the comments we received, in each buyer’s own words.
Worthington Steel said tight US steel supply, low imports, and extended lead times constrained shipments and quoting opportunities during its first fiscal quarter, even as the conditions supported pricing and spread sustainability.
Worthington Steel reported a surge in sales in its first quarterly results to include the Kloeckner acquisition, but the company posted a net loss as the acquisition reshaped its sales and operating mix.
SMU’s latest Flat-Rolled Steel Survey points to largely stable demand, but foreign steel orders have softened since the previous survey, and service centers continue to report stronger activity than manufacturers.
The results of the latest Steel Market Update (SMU) flat-rolled market survey are now available on our website to all premium members.