The Steel Summit Conference is pushing 230 people and we have 4 weeks to go. We sold out the room block for September 1st. We should (we hope) be able to get more rooms added, however the room block expires either when we sell out the revised number or on August 10th, whichever comes first. […]
Flat rolled steel prices, and the momentum associated with steel price movement, have been stuck for quite some time as you can see by our SMU Price Momentum at the top of the table below. As a result, our benchmark hot rolled price average is $3 per ton higher than what we reported at the […]
The all-aluminum Ford F-150 is going to cost you more to repair—so says the Insurance Institute for Highway Safety (IIHS). IIHS put the F-150 crew cab and the F-150 extended cab through a series of five crash tests. The crew cab model passed all of them with flying colors giving it the Top Safety Pick […]
Steel Market Update (SMU) produces two series of articles focused on the buying and selling of flat rolled steel. Many of the articles can be found on our website under: Steel Buyers Basics or The Truth About Selling Steel. The following article is part of our Steel Buyers Basics series and is written by Mario […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. The total number of indicators considered in this analysis is currently 36. Please refer to Table 1 for the view of the present situation and the quantitative measure of trends. Readers should […]
On August 1st Steel Market Update celebrated our seventh (7th) anniversary and began our 8th year in operation. Some day I am going to figure out how many newsletters and articles I have written about the industry over these past seven years (not counting the articles written before I took the newsletter public in 2008 […]
The S&P Case Shiller Home Price Indices for May showed home prices continue to rise across the U.S. The 10 city composite posted a 4.7 percent gain year over year while the 20 City Composite gained 4.9 percent. The S&P/Case-Shiller U.S. National Home Price Index, covering all nine U.S. census divisions, recorded a 4.4 percent […]
The Steel Market Update (SMU) Price MoMo Index for hot rolled steel in the United States turned negative after a 9 week positive streak. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current U.S. hot rolled coil (HRC) price movements against the previous 12-week average spot price as […]
First, I want to thank a number of our readers who went out of their way to compliment Steel Market Update on our coverage of the cold rolled trade case in Tuesday’s issue. My background is such that I have been on both sides of the fence – both at a steel mill and representing […]
On Sunday we produced an article that was perhaps confusing to some of our readers. The article entitled: “Possible Strike Does Not Worry Buyers & Sellers of Steel” had an error in the graphic produced. Our survey results has 76 percent of those responding saying they are Not concerned about the possibility of a strike […]
I knew the cold rolled trade suits were coming this week. It had been rumored for a couple of months just as the hot rolled trade suits are being discussed for August. It doesn’t make the day of the filing (or night and day if you received one of the USS emails last night) go […]
At this point everyone wants to know if demand is growing and are inventories at a point where buyers will need to go into the market and begin buying again. The combination of growing demand and inventories that need to be replenished will be what drives flat rolled steel prices higher. Steel Market Update looks […]
In just five weeks the hoard will be arriving in Atlanta and making their way to the Atlanta Airport Marriott Gateway Hotel which is located next to the Georgia International Convention Center where our 5th Steel Summit Conference will be held on September 1st and 2nd. We don’t know what the final numbers will be […]
The Steel Market Update Steel Buyers Sentiment Index continues to be modestly optimistic although less so than what the index was reporting one year ago. The trend for the proprietary index has been to move sideways in what might be considered a not too hot, not too cold marketplace. SMU looks at how buyers and […]
Domestic mill lead times are one of the keys followed by Steel Market Update as we evaluate steel prices and price momentum. A market where we see extending lead times tends to allow for the collection of higher steel prices throughout the industry (steel mills and distributors). When we see lead times collapsing we tend […]
Last week, Steel Market Update adjusted our Price Momentum Indicator to Neutral from Higher. A portion of that change was due to the domestic steel mills continuing to be willing to negotiate flat rolled steel pricing. In this week’s flat rolled steel market analysis, those responding to our questionnaire reported all but Galvalume as being […]
Last month, Steel Market Update forecast that June steel service center shipments of flat rolled steel would total 2,430,000 tons. The actual number, according to MSCI data, came in at 2,339,000 tons or 91,000 tons fewer than our forecast. The daily shipment rate for June, which is more accurate than keeping tabs on total month […]
The Steel Market Update (SMU) Price MoMo Index for hot rolled steel in the United States was positive for the ninth consecutive week, following a 39 week negative streak prior. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current U.S. hot rolled coil (HRC) price movements against the […]
A quote from one of our Steel Summit 2015 keynote speakers, “Although the price of oil seems to be more tied to the dollar, there is some supply and demand factors that can impact the magnitude of the impact of the dollar’s value on the per barrel price. Therefore, we have to watch what the […]
Following the exceptional rate of vehicle sales in the US in May the June rate fell from 17.8 million annualized to 17.2 million which is a more sustainable rate. The June pace was still higher than the 16.9 million units average of the past 12 months. Demand is being supported by easier credit terms, sustained […]
We had begun to think that our projection for total housing starts to reach 1.6 million units annualized by the end of 2018 was optimistic but the June report put that projection back on track. Total starts in June were at an annual rate of 1,174,000 with a three month moving average (3MMA) of 1,144,000. […]
Last chance for early bird registration for our 5th Steel Summit Conference which will be held in Atlanta on September 1 & 2. If you can’t register online this evening and want to get the special rate (which is a $200 savings off the full rate) shoot us an email and request an invoice: info@SteelMarketUpdate.com. […]
On Friday, Steel Market Update (SMU) adjusted our Price Momentum Indicator from Higher to Neutral. Now why did we go and do that? We have been stuck in a very tight trading range on most flat rolled steels since late April of this year. Benchmark hot rolled, which is used by most in the […]
We will begin our mid-July flat rolled steel market analysis (survey) on Monday at 8 AM ET. If you receive an invitation, please click on the link and spend a few minutes helping us better understand the flat rolled steel markets, trends and pricing. If you are not on the invite list but would like […]
The Steel Market Update (SMU) Price MoMo Index for hot rolled steel in the United States was positive (indicating higher prices) for the eighth consecutive week. This follows a 39 week negative streak (falling prices). MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current U.S. hot rolled coil […]
So, just when you think everything is going along very smoothly somebody or something throws you a curve. In business you should be used used to it, you should expect them. we had one thrown at us on Tuesday and Wednesday when an upgrade we were making to our software unexpectedly impacted our Steel Summit […]
Contract talks opened July 13 between the United Auto Workers union and the big three Detroit automakers. As GM, Ford, and Fiat Chrysler enter negotiations, at issue for the companies is labor costs. GM and Ford are looking to cut labor cost that average $8 to $9 per hour higher than at Honda and Toyota. […]
I am scheduled to be in Two Harbors, Minnesota on July 27th. I anticipate touring an iron ore mine prior to boarding the M/V James R Barker along with Interlake Steamship Company Vice President, Brendan O’Conner. Once the vessel self loads approximately 58,000 tons of iron ore pellets we will move across Lake Superior, through […]
Last week Steel Market Update (SMU) conducted our early July flat rolled steel market analysis (survey). We invited just under 600 companies to participate in our questionnaire which covered such items as Sentiment, pricing trends, purchasing trends, inventories, lead times, negotiations and more. We placed two questions early during the survey process where we ask […]
Below is the latest release issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through May 2015. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for May 2015 increased 10.2 percent, […]