Category: Market Data

More liberal access to the Northwest Passage could play into trade negotiations between Canada and the United States.

The boom in China’s direct steel exports has not stopped this year, even with a rise in protectionist measures globally. The increase is driven by...

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.

The European Commission proposes cutting its steel import quota by almost half, with volumes exceeding the limit facing 50% duties. The region’s steel industry welcomes the move, while other steel-producing nations fear the consequences.  CRU published an insight before this announcement, noting that more restrictive trade policy could significantly raise the cost of marginal supply […]

SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.

SMU’s Current Sentiment Index for scrap decreased this month, a move mirrored by our Future Sentiment Index, according to the latest data from our ferrous scrap survey.

Each of our Sentiment Indices continues to reflect that steel buyers are positive about their present and future business prospects, though that confidence has eased considerably compared to the beginning of the year.

SMU’s October ferrous scrap market survey results are now available on our website to all premium members.

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

Representatives of at least six companies interested in acquiring AHMSA have reportedly begun to carry out physical inspections of the insolvent company’s assets.

Sheet and plate lead times saw minor shifts this week, according to SMU’s latest market survey. Sheet times have inched up over the last month but remain within days of multi-year lows, as they have since May. Plate lead times have bobbed within a tight range for months, hovering roughly a week longer than this time last year.

The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.

Trade groups cautioned that a prolonged shutdown could strain US industry.   

Steel buyers say mills remain slightly more willing to negotiate spot prices for sheet and plate products than in mid-September, according to our latest market survey.

The Italian government has received 10 offers for the former Ilva integrated steel works at Taranto, but only two bidders are interested in purchasing all of the company’s assets.

In the Americas, the ongoing conversion to EAF melting is driving demand for prime grades of scrap and increased use of ore-based metallics

Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.

The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.

Metalforming manufacturers anticipate a decrease in near-term conditions, according to the Precision Metalforming Association's (PMA) Business Conditions Report for September.

Voestalpine and partners have begun building an industrial-scale Hy4Smelt demonstration plant in Linz, Austria, which they hope will become key in the decarbonization of steel.

Meanwhile, the nation’s largest rail union said they supported the tie-up between Union Pacific and Norfolk Southern once Union Pacific agreed to secure union jobs.

Market chatter from steel buyers this week: prices steady to slightly higher, demand weak, inventories slow, and tariffs clouding the outlook.

Architecture firms reported a modest improvement in billings through August, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.

Sheet and plate prices were flat or lower this week as less discounting from domestic mills was offset by few signs of an anticipated rebound in demand.

US nonresidential building starts fell 5.4% in August, to a seasonally adjusted annual rate of $431 billion, according to the latest data released by Dodge Construction Network. 

The analysis below was first published by CRU. To learn about CRU’s global commodities research and analysis services, visit www.crugroup.com.  One-in-three companies have paused or delayed stainless steel orders because of disruption caused by the wave of import duties imposed worldwide this year, according to a survey conducted for Outokumpu of Finland. Other responses include more […]

For the next month, CRU forecasts that global demand for steelmaking raw materials will increase month on month (m/m).

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

SMU’s Steel Buyers’ Sentiment Indices diverged this week. The Current Steel Buyers’ Sentiment Index continued its recovery from the five-year low seen one month ago. Meanwhile, Future Buyers’ Sentiment gave back some of the ground gained in recent surveys.

Sheet times ticked higher but remain within days of multi-year lows, territory they have been in since May. Plate lead times have shifted lower in the past month but remain about a week longer than they were at this time last year.