Nearly nine out of ten steel executives polled this week reported that mills are willing to talk price to secure an order, according to our latest steel market survey. A high willingness to negotiate has been evident in our market checks since early May and now stands at the highest level since early February 2022. […]
Most respondents to SMU’s latest survey think that hot-rolled coil prices will be below $1,000 per ton ($50 per cwt) two months from now. That’s a big change from earlier this month, when we did our last full survey and when those who thoughts tags would dip below the $1,000-per-ton threshold this summer were in […]
Steel Market Update’s Steel Buyers Sentiment Index fell 11 points to an 18-month low last week, the largest survey-to-survey decline since April 2020. Our Future Sentiment Index also declined significantly last week, following another large decline four weeks prior. SMU surveys steel buyers every other week and asks how they view their chances of success […]
Steel Market Update’s latest market check revealed that steel mill lead times continue to inch down for sheet and plate products as they move closer to historical norms. On average, lead times declined by 0.2 weeks compared to our early June figures and are down 0.4 weeks compared to one month ago. Lead times over […]
Approximately 84% of steel buyers report that mills are willing to talk price to secure an order, according to executives polled in our latest steel market survey. The rate of willingness to negotiate has remained over 50% in each of our market checks since early May and is now at the highest level since early […]
Editor’s note: Steel Market Update is please to share this abbreviated Premium content with our Executive members. For information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. If you are part of a service center company and interested in becoming a data provider, please contact Estelle.Tran@CRUGroup.com. Flat Rolled = 54.7 Shipping Days of Supply […]
Flat Rolled = 54.7 Shipping Days of Supply Plate = 55.2 Shipping Days of Supply Flat Rolled US service center flat rolled inventories rose in May as many service centers reported signs of slowing demand. At the end of May, service centers carried 54.7 shipping days of supply on an adjusted basis, according to SMU […]
A growing number of steel market participants think that hot-rolled coil (HRC) prices will fall below $1,000 per ton ($50 per cwt). An increasing number also think that prices won’t hit bottom until the third quarter at the earliest. Check out the charts below. SMU’s HRC price was at $1,190 per ton ($59.50 per cwt) […]
Steel Market Update just conducted one of our flat rolled and plate steel market surveys. The data collected consisted of responses from service centers (46% of respondents), manufacturing companies (32%), steel mills (10%), trading companies (8%), suppliers to the steel industry (4%), and toll processors (2%). We intentionally weight the number toward distributors and manufacturing […]
Steel Market Update’s Steel Buyers Sentiment Index remained unchanged last week, holding steady at the third-lowest level seen in the past 13 months. Our Future Sentiment Index also remains unchanged compared to our late-May reading (which was the largest survey-to-survey decline since March 2020). SMU surveys steel buyers every other week and asks how they view their chances of success […]
Steel Market Update’s latest market check indicates steel mill lead times continue to decline for sheet products as they move closer to historical norms. Plate lead times have been relatively flat since mid-May. Lead times over the past two weeks have been roughly in line with what we were seeing in the early weeks of […]
Three out of four buyers report that mills are willing to talk price to secure an order, according to executives polled in our latest steel market survey. Mills’ willingness to negotiate has remained over 50% in each of our market checks over the last four weeks. Every other week, SMU asks survey respondents: Are you […]
May was a good month for market participants surveyed by SMU, most of whom reported meeting or beating expectations then. Approximately 55% of survey respondents said they met their business forecasts last month, 25% said they exceeded them, and only 20% said they missed forecast. The big question will be June, which has seen steel price […]
With one month left in the second quarter of 2022, more steel buyers are reporting decreasing optimism and weakening demand. When asked about their optimism or pessimism for the remainder of Q2, the number of buyers reporting pessimism rose from 14% in the prior survey to 27% in last week’s Steel Market Update market survey. Still, […]
Steel Market Update’s Steel Buyers Sentiment Index fell 8 points last week, now at the third-lowest level seen in the past 13 months. Our Future Sentiment Index fell 16 points, the largest survey-to-survey decline since March 2020 (when sentiment fell in response to the Covid pandemic). SMU surveys buyers every two weeks and asks how […]
Steel Market Update’s latest check of the market indicates steel mill lead times are slowly reverting back towards historical norms for most sheet products, while Galvalume and plate lead times inched up compared to two weeks prior. Lead times are now in line with levels seen in the beginning of 2022. Buyers surveyed this week […]
Flat Rolled = 51.4 Shipping Days of Supply Plate = 48.3 Shipping Days of Supply Flat Rolled US service center flat rolled inventories declined slightly in April in terms of shipping days of supply, while the amount of material on order rose again. At the end of April, service centers carried 51.4 shipping days of […]
Steel Market Update’s Steel Buyer’s Sentiment Index slipped 2 points last week following three consecutive weeks of steel price declines. Our Future Sentiment Index was unchanged and remains at a new high set just two weeks prior. SMU surveys buyers every two weeks and asks how they view their chances of success in the near […]
The firm grip mills have held on price negotiations in March and April has loosened, according to buyers polled in our latest steel market survey. A large portion of steel buyers now report that mills are willing to talk price to secure an order. Every two weeks, SMU asks survey respondents: Are you finding domestic mills willing to negotiate spot […]
Steel Market Update’s market check this week indicates steel mill lead times are shortening for both sheet and plate products, easing an average of 0.9 weeks compared to two weeks prior. This also marks the first time lead times have fallen consecutively since January. Lead times for all tracked products are now roughly in line with levels […]
Steel Market Update’s Steel Buyers Sentiment Index rose 2 points last week, in line with the strong levels we’ve seen over the last six weeks. Our Future Sentiment Index rose to a new high, surpassing a prior record set in November 2021. SMU surveys buyers every two weeks and asks how they view their chances of […]
Monthly Key Market Indicators improved slightly through March, though sentiment remains cautious, according to the latest analysis by Steel Market Update. Neutral and positive indicators have increased, while negative indicators have eased. Consumers and businesses continue to spend even though economic dynamics remain in flux, with supply disruptions weighing on the economy. While inflation continues […]
Steel mills appear to be loosening their firm grip on price negotiations, according to buyers polled in our latest steel market survey. Over half of hot rolled steel buyers now report that mills are willing to talk price to secure an order. Every two weeks, SMU asks respondents: Are you finding domestic mills willing to negotiate spot pricing […]
Steel Market Update’s latest check of the market indicates steel mill lead times are sideways to down for sheet and plate products, decreasing by an average of 0.4 weeks compared to two weeks prior. This is the first time lead times have declined on average since late January. Hot rolled, cold rolled, and galvanized lead […]
Steel Market Update’s Steel Buyers Sentiment Index moved 4 points lower this week, following a 3-point bump up two weeks prior and an 11 point surge in mid-March. Theses sentiment measures correlate with the sharp rebound in steel prices caused by the Ukraine-Russia war, as well as the recent slowdown seen in prices. Steel Market Update’s latest benchmark price […]
Flat Rolled = 52 Shipping Days of Supply Plate = 44.4 Shipping Days of Supply Flat Rolled US service center flat rolled inventories edged down further in March. Inventories did not fall as much as expected, as attitudes about inventory changed with the reversal of pricing trends. At the end of March, service centers carried […]
Steel mill lead times appear to be steadying this week for four of the five sheet and plate products we track. They are also rising at a slower rate compared to the big gains seen in March. Steel Market Update’s latest check of the market indicates sheet lead times increased by an average of 0.2 weeks […]
The firm grip mills have held on price negotiations remains but may be softening, according to buyers polled in our latest market survey. Every two weeks, SMU asks respondents: Are you finding domestic mills willing to negotiate spot pricing on new orders placed this week? On average this week, three out of four steel buyers reported that mills are […]
SMU’s Steel Buyers Sentiment Index moved 3 points higher this week, following an 11 point surge in mid-March. Theses jumps in sentiment correlate with the unexpected rebound in steel prices caused by the Ukraine-Russia war. Steel Market Update’s latest check of the market pegged the benchmark price for hot rolled coil at $1,435 per ton […]
Steel mill lead times continue to extend, but they are rising at a more moderate pace compared to early March. Steel Market Update’s latest check of the market indicates that lead times for sheet and plate increased by an average of 0.6 weeks, compared to an average jump of 1.2 weeks two weeks prior. Buyers surveyed […]