To our U.S. customers, welcome back from the long Thanksgiving Holiday weekend. I hope everyone had an enjoyable weekend with family and friends. Our website developers have been very busy working on our website going back to Wednesday of this past week. If you tried getting onto our website on Wednesday afternoon through Saturday afternoon, […]
This is the last Executive issue of Steel Market Update until Sunday evening. We will produce a Premium issue for our Premium clients tomorrow. Our offices will be open tomorrow (Wednesday) and closed on Thanksgiving Day. We will have limited coverage on the Friday following Thanksgiving. Our offices will return to normal staffing and hours […]
We asked a question about Section 232 in last week’s flat rolled steel market trends questionnaire. The question was, “Do you think President Trump will invoke Section 232 and add duties on steel imports early next year on national security grounds?” Relatively few steel buyers elected to answer this question, which either suggests they don’t […]
I have a feeling if I were to write a long drawn-out final thoughts article that our readers would shoot me… I think we have 16 articles in tonight’s newsletter – many of them top-line articles (price increases, MSCI data, Sentiment, Lead Times, Negotiations, Section 232, etc.). What you don’t know is we actually moved […]
As I move around the flat rolled steel industry, communicating with manufacturing companies, service centers, traders and steel mills, I am receiving mixed messages about the market. A good example is the HARDI steel committee conference call that was held earlier today. HARDI wholesalers, the companies who supply the HVAC mechanical contractors in the building […]
We will begin conducting our mid-November flat rolled steel market survey on Monday. If you receive an invitation to participate, please take a few moments to click on the button in the message, which will take you to our questionnaire. The questionnaire shouldn’t take more than a few minutes to complete. If you would like […]
The expectation, even among the naysayers, is there will be a bounce in flat rolled prices once lead times reach the end of December and into the New Year. The expectation is that the domestic steel mills will raise prices in the coming days. We have heard rumors that the first mill to move may […]
I am in Chicago this evening having conducted a shortened version of our Steel 101 workshop at the FABTECH conference. We had a good group of people who were totally unaware of Steel Market Update and, in many cases, were attending to gain more knowledge about the steels their company uses. We had energy people […]
Some quick final thoughts this evening – I will be traveling tomorrow (Monday) to Chicago to attend FABTECH and to teach a mini-version of our Steel 101 workshop (they call it Steel 101: Mill to Fabricator) on Tuesday afternoon. John Eckstein and I will be in Room 502B in McCormick Place, and the workshop is […]
Another reminder that mill metallurgist and Steel 101 instructor John Eckstein and I will be in Chicago next week for FABTECH 2017. We will be conducting a mini-version of our Steel 101 workshop during the expo. Our workshop will be held in the McCormick Place Convention Center in room 502 B on Tuesday, Nov. 7, […]
We began sending out our sponsorship package to last year’s sponsors and will send it out to previous years sponsors as well as those who have expressed an interest in becoming a sponsor or exhibitor. We have a limited number of sponsors and already have commitments from Pacesetter, Bank of America Merrill Lynch, Magic Coil […]
Steel Market Update (SMU) will begin our next flat rolled steel market trends survey at 8 AM ET tomorrow (Monday). If you receive an invitation, please take a few moments to click on the button in the message and fill out our questionnaire. Most people are able to get through the process in less than […]
We are three months away from our Mobile, Ala., Steel 101 workshop and we are sold out. Having said that, I would recommend that if you want to attend, add your name to our wait-list. You can do that on our website by clicking on the registration link; after you are advised that the workshop […]
The Mario Briccetti article entitled: “Steel Buyers Basics: Kobe Steel Problems and How to Avoid Them” prompted a number of comments. The comments all came from other Steel 101 instructors who spent their careers working for steel mills either in sales or in quality/metallurgical positions. We should have an interesting discussion between our instructors at […]
We have an article in tonight’s newsletter from Mario Briccetti that I want to make sure is not misconstrued as a criticism of the domestic steel mills. The Kobe Steel violation of trust by certifying test results for tests that were not conducted has created some unease here in the United States. It is Steel […]
SMU published an article in Tuesday evening’s issue about the comments made by General John Adams on national security and the need for steel. The title of the article was “General Goes Nuclear in Support of Section 232.” We received a number of comments from that article wanting to know if we had fact-checked what […]
As the afternoon turned into evening, I began hearing rumors that a flat rolled price increase would be announced “soon.” I heard from a service center who was texting us from his car (a definite no-no) telling SMU that a yet to be named (by us) mill was moving prices. We are still waiting for […]
I had a whirlwind weekend having traveled to Cleveland to see family and to attend MidWest Materials’ 65th anniversary. Brian Robbins and his crew did a great job paying homage to their past and current employees. The company is much different today than it was in 1952 when it started. I have a feeling it […]
We received a number of responses to our articles on ethics. We didn’t want to beat a dead horse by producing another article this evening, even though there is plenty to write about. For those of you who have not noticed, Kobe Steel in Japan has admitted falsifying data on materials placed in autos, trains […]
I have been working on two major projects today: flat rolled and plate pricing for our steel index and flat rolled steel service center inventories as of the end of September. I finished the first project on pricing, which showed mixed results with some price erosion on a couple of items and stable prices on […]
This evening I received a note from a reliable source advising me that AM/NS Calvert had been hit by a tornado associated with Hurricane Nate on Saturday. The information provided noted there was damage to the administration building, a storage building and some power lines on the property. There was no mention of any injuries. […]
It’s 10 PM and I am on a flight back to Florida having spent the last three days in Fort Wayne, Ind. We hosted one of the largest Steel 101 workshops in our history and the workshop went well. We spent Wednesday going over the classroom materials and then that evening our workshop was hosted […]
I am in Fort Wayne, Ind., along with members of my Steel 101 team, John Eckstein, Mario Briccetti, Steve Murphy, Steve Painter, Sandy Williams, as well as Tim Triplett who will be attending his first Steel 101 workshop. Over the next two days, we will be working with a large class of attendees and discussing […]
I am in Chicago and will be here until Tuesday when I make my way to Fort Wayne, Ind., to conduct one of our Steel 101 workshops. A special thank you to SDI and Paragon Steel for allowing our workshop to tour each of their plants. This workshop has been sold out for a number […]
We have a busy issue this evening, so I will keep my final thoughts brief. Next week I will be in Fort Wayne, Ind., as we conduct one of our Steel 101: Introduction to Steel Making and Marketing Fundamentals workshops. We will tour Steel Dynamics’ Butler facility and Paragon Steel’s flat rolled steel service center. […]
There have been a number of master sheets showing projected steel mill maintenance outages for the last couple weeks of September through the end of this calendar year. Steel Market Update (SMU) is following through with our mill sources, as well as steel buyers, to see if we can confirm the outages and if there […]
A note that SMU adjusted our Price Momentum Indicator to Lower from Neutral on Friday. I have explained 10 of the reasons why (and there are more) in the first article in tonight’s newsletter. If you would like to make comments, feel free to reach out to me at John@SteelMarketUpdate.com. I will be working on […]
Zinc is once again trading above $1.40 per pound ($1.42 as of 3:30 PM ET) and the smaller steel mills and converters are wondering why U.S. Steel, ArcelorMittal USA and Nucor haven’t made the move to higher zinc coating extras on galvanized steel? We have seen four mills make changes on their “spot” new orders: […]
There is a wide variance between what the MSCI reported for flat rolled inventories this week and what Steel Market Update reported on Sunday. As we look at our numbers, the mega service centers tended to carry less inventories (based on months of supply, not in total tons) than the medium and smaller distributors that […]
We will begin our mid-September flat rolled steel market trends analysis first thing on Monday morning. Invitations to participate will go out at 8 AM ET tomorrow morning. We currently send out approximately 650 invitations. Note: We are correcting the galvanized comparison of coating extras as Nucor has not yet made a change to the […]