Plate market participants wonder how plate supply will hold up in coming weeks and months, sources told SMU. Some sources called out dwindling availability of heavier grades and said certain domestic producers have “a huge backlog.” of all grades.
Sheet market participants found modest spot price increases this past week, but conceded that overall market conditions remained stable.
Plate market participants expect additional base price hikes from domestic mills, something that has some eyeing imports.
The current rally in sheet prices has lasted more than seven months, something without recent precedent. Unless your definition of recent includes the snapback in demand following the pandemic.
Ryerson swung to a profit in the first quarter as it began the integration of Cleveland-based service center chain Olympic Steel.
CFO Martin Jurasek described the first quarter as a “positive inflection point” as strategic initiatives, including the recent Kloeckner acquisition, began to materially lift results.
Russel Metals’ earnings jumped in the first quarter as it reported record quarterly shipments and revenue.
SMU’s Mill Order Index (MOI) recovered in March, gaining some momentum after a marginal decline in February.
I haven’t done a deep dive into our sentiment data for a little while. And it’s timely to do so now. Why? Because we’re seeing what I’ll call the inverted yield curve of steel buyers’ sentiment.
Ferrosource LLC, a distributor of ferrous metals, is nearing completion of its steel processing facility on the campus of Big River Steel Works (BRSW) in Osceola, Ark. Operations are set to begin in August.
Last week, Steel Market Update and CRU hosted our inaugural VIP Briefing in Chicago ahead of the Scouting America Metals Industry Dinner.
Sheet market participants reported steady to elevated demand over the past week. But while spot prices continued to edge up, some sources said lead times were becoming more closely aligned to industry norms.
Marubeni-Itochu Steel Americas Inc. (MISA) plans to build a $37 million flat-rolled steel processing plant in Osceola, Ark., adjacent to Big River Steel.
Reliance Inc.’s earnings jumped in the first quarter on strong pricing and demand.
In a Final Thoughts las week, I asked “Got Steel?” And if you’re looking for spot tons in June, the answer still isn’t obvious.
Participants in the hot- and cold-rolled coils market are optimistic about the market's health.
SMU’s Steel Buyers’ Sentiment Indices indicate that steel buyers remain highly optimistic about their businesses’ chances for current and future success.
MU’s latest steel buyers market survey results are now available on our website to all premium members.
Service centers held only 2.24 months of supply (49.3 days of supply) of sheet products in March, according to our latest figures. If you check our archives, you’ll see that's the lowest sheet inventories we’ve seen since June 2021 – which was hardly a bad year for steel.
US service centers’ flat-rolled steel supply declined for a third straight month in March, with shipping days of supply slipping to 49.3 on an adjusted basis, according to SMU data.
Participants in the galvanized steel market remain encouraged by strengthening product prices, even as increases unfold at a subdued pace.
Remember the “Got Milk?” advertising campaign of the 1990s. Maybe we should start a “Got Steel?” campaign. Or maybe “Got Spot Tons?” would be more accurate, if less catchy.
Plate market participants we spoke to this week offered a long list of concerns: escalating fuel and freight expenses, consolidated sources of end-market demand, tariff-related complications, as well as long lead times and delivery delays from US mills. The cherry on top? An ever shrinking availability of spot tons from domestic mills.
SMU survey respondents sound off on a host of issues affecting the steel industry.
The Alliance Steel Family of Companies has hired long-time steel executive Thomas J. Pasko as commercial director. Pasko adds more than three decades of flat-rolled steel experience to Alliance’s leadership team,
Spot market participants worry that limited availability for certain grades of domestically produced plate will extend lead times even further.
Ryerson Holding Corp. announced a series of leadership changes to fully align the organization after its recent acquisition of Cleveland-based Olympic Steel.
Worthington Steel has exceeded the minimum share threshold for its acquisition of Kloeckner and Co.
Worthington Steel reported steady progress on its planned acquisition of Kloeckner & Co., calling the deal a major strategic step as steel markets show early signs of tightening in the US and remain under pressure in Europe.
Most steel buyers see prices continuing to inch higher on stable or improving demand. But some are concerned higher energy prices stemming for the Iran war could dent the overall economy.