This will be a busy week – at least the beginning of the week. We have the US Department of Commerce scheduled to release Preliminary Determinations on Heavy Walled Rectangular Welded Carbon Pipes and Tubes from Turkey on Monday. On Tuesday (vote will be on Monday) the US DOC is scheduled to release antidumping (AD) […]
The U.S. Department of Commerce released their Preliminary Determination for Countervailing Duty (CVD) on Cold Rolled products as well as Critical Circumstances on Cold Rolled. The headline is China was found to be receiving subsidies at a rate of 227.29 percent. They also found critical circumstances for the following companies: Angang Group Hong Kong Co., […]
The domestic steel mills began raising flat rolled steel prices late last week and into this week. We saw a mild rise in our hot rolled, cold rolled, galvanized and Galvalume indices as the domestic mills began to collect at least a portion of the announced increases. As we canvass the buyers and sellers of […]
Flat rolled steel lead times, according to those responding to this week’s market analysis questionnaire, have begun to move. The question now becomes will they continue to move and will they move out far enough to force buyers back into the market? Our respondents reported hot rolled lead times as having extended slightly from the […]
There was a significant change in the willingness of the domestic steel mills to negotiate pricing with their customers after the price announcements were made. According to the results of this week’s flat rolled market analysis conducted by Steel Market Update all products saw the percentage of those reporting the mills as willing to negotiate […]
I hope that all of you will take a few moments to click on the links provided for the speakers and for the PGA National Resort & Spa to get a better feel for the quality of the program we will be putting on in March for a select few company executives. There is a […]
A thank you to Keith Gunter of McElroy for sharing his annual Christmas poem for the steel industry with us. If you have anything you would like to share (tastefully) with the industry please feel free to forward them to my attention: John@SteelMarketUpdate.com We just confirmed our last couple of speakers for our new Leadership […]
On Friday Steel Market Update (SMU) adjusted our Price Momentum Indicator from Neutral to Higher. With almost all of the major mills now walking in step with one another (at least regarding the direction of prices from here if not the exact rate of change from where they were a couple of weeks ago), we […]
The House passed the long-awaited customs bill by a 256-158 margin on Friday. The conference report of the Trade Facilitation and Trade Enforcement Act (H.R.644) includes the ENFORCE act that provides new measures sought after by the steel industry to address evasion of antidumping and countervailing duties. The bill will head to the Senate for […]
We will conduct our mid-December flat rolled steel market analysis (survey) beginning on Monday of this week. If you are on the invite list, please take a few moments to click on the link (button) and respond to our online questionnaire. If you were on the invite list in the past and for some reason […]
Steel Market Update (SMU) is constantly being asked to provide details as to the status of the hot rolled, cold rolled and corrosion resistant (CORE) antidumping and countervailing duty trade suits. Here is the status of each investigation as of today, December 10, 2015: CORE – Corrosion Resistant Steels (Galvanized/Galvalume, etc.) Original Filing Date: June […]
The Canada Border Services Agency has made final determinations that dumping has occurred on hot-rolled carbon steel plate and high-strength low-alloy steel plate originating in or exported from India and Russia and subsidizing on hot-rolled carbon steel plate and high-strength low-alloy steel plate originating in or exported from India. The investigation on subsidizing from Russia […]
The Steel Market Update (SMU) Price MoMo Index for hot rolled steel in the United States was negative (indicating lower prices) for the 17th consecutive week. 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 […]
I expect the other domestic mills to go along with price increases of their own – whether they choose to announce the move may depend on what they feel is in their best interest. I would anticipate that Nucor will come out with their own announcement. US Steel and ArcelorMittal are in the process of […]
Steel Market Update (SMU) has been analyzing service center spot pricing based on reports from manufacturing and distribution respondents to our flat rolled steel market questionnaire. SMU canvassed the market last week and we believe that the results suggests an uptick in spot pricing will come soon. Manufacturing companies responding to our survey had 90 […]
The following article was written by Mario Briccetti of Briccetti & Associates, a Supply Chain consulting firm, and is also one of our instructors for Steel 101 as well as our Sales Training Workshop. Recently, in my series of articles, I have written about the coating cost of galvanized and Galvalume on flat rolled steel. […]
I will have a detailed report regarding the HARDI annual conference in Thursday evening’s issue. However, the news is good for those involved in the construction industries with Alan Beaulieu, Chief Economist for HARDI and co-founder of the Institute for Trend Research, proclaiming 2016 will be better than 2015 and 2017 will be even better […]
On Friday of this past week Steel Market Update (SMU) adjusted our Price Momentum Indicator from Lower to Neutral. This move is being made as we are seeing more evidence of the domestic steel mills taking a stand and either raising spot prices (especially on coated steels) or refusing to go any lower. As one […]
This morning, Steel Market Update (SMU) adjusted our Price Momentum Indicator from Lower to Neutral. This move is being made as we are seeing more evidence of the domestic steel mills taking a stand and either raising spot prices (especially on coated steels) or are refusing to go any lower. As one steel buyer put […]
I am in Orlando attending the HARDI annual conference. I will be addressing their sheet metal committee a little later in the week. Also here is Alan Beaulieu of the Institute for Trend Research (ITR). I look forward to hearing Alan speak both here and at the end of August 2016 when he will once […]
Steel Market Update (SMU) Steel Buyers Sentiment Index continued its long slide as buyers and sellers of flat rolled steel are less optimistic this week regarding their company’s ability to be successful both in the existing (Current) market as well as three to six months into the future (Future). Respondents to our queries regarding Sentiment […]
The following lead times are averages generated out of the flat rolled steel market analysis we conducted beginning on Monday of this week. Actual mill lead times will vary from mill to mill and we always recommend that buyers speak to their mill representatives in order to obtain the most up to date lead times […]
Much like lead times, domestic mill spot price negotiations have been mired in the muck and not able to get any momentum going back to the spring of this year. Those responding to this week’s flat rolled steel market analysis are almost unanimous in their description of the willingness of the domestic mills to discuss […]
The Steel Market Update (SMU) Price MoMo Index for hot rolled steel in the United States was negative (indicating lower prices) for the 17th consecutive week. 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 […]
Tonight I thought I would present a question posed to me within the past couple of days and ask for your input in answering the question. How would you respond to this? Has the steel industry in the US stopped following laws of economics or are we living the great delusion of “ok” demand? Consider […]
The month of November saw a continuation of lower flat rolled steel prices, Momentum and Sentiment as buyers and sellers struggle to find a bottom to what has become an extended slide going back to May 2015. November benchmark hot rolled prices (SMU average) Dropped $15 per ton during the course of the month and […]
It will soon be more expensive to export Chinese steel line pipe to Canada. Canada Border Services Agency released its preliminary determination on dumping and subsidization of steel line pipe exported from China and assigned provisional duties ranging from 71 percent to 396 percent. CBSA estimates that in 2014, 48.8 percent of carbon and alloy […]
As part of your Premium level service, Steel Market Update (SMU) analyzes the service center shipment and inventory data and provides a short term forecast for carbon flat rolled steel shipments, inventories and how they will impact pricing over the next four months. This is done through a proprietary model and the results provided are […]
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 […]
I thought it would be nice to send out our Premium newsletter to all of our readers today since we did not publish over the weekend due to the Thanksgiving Holiday here in the United States. We are conducting our early December flat rolled steel market analysis this week. This means those who participate in […]