The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained in positive territory for the eighth consecutive week after briefly dipping into negative territory for a single week. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained in positive territory for the seventh consecutive week after briefly dipping into negative territory for a single week. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the […]
On Friday Steel Market Update (SMU) adjusted our flat rolled steel Price Momentum Indicator to Neutral from Higher. The key reason behind our decision to move our indicator is “indecision” in the marketplace. More about that in a moment. The current market cycle began on October 21, 2016 when the domestic mills were able to […]
Steel Market Update is reporting today a new record high was achieved in our Current Steel Buyers Sentiment Index 3-month moving average (3MMA). Buyers and sellers of flat rolled steel continue to be very optimistic about their company’s ability to be successful in the existing market environment. As a single data point, Sentiment was measured […]
Steel Market Update (SMU) just concluded our early April flat rolled steel market trends analysis. A portion of that study is focused on steel mill lead times as we look to see if there are any changes in the trend which could affect flat rolled steel price negotiations. Lead times remained constant compared to what […]
As with steel mill lead times discussed earlier in this newsletter, those responding to our flat rolled market trends questionnaire reported the steel mills as modestly willing to negotiate all but Galvalume flat rolled steel pricing. Thirty-eight percent of our respondents reported the domestic mills as willing to negotiate hot rolled pricing. This is 9 […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained in positive territory for the sixth consecutive week after briefly dipping into negative territory for a single week. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. This will explain the difference between our view of the present situation which is subjective and our analysis of trends which is based on the latest facts available. During March our view […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained in positive territory for the fifth consecutive week after briefly dipping into negative territory for a single week. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the […]
We are getting mixed messages regarding “real” lead times coming out of the domestic steel mills. The information we are sharing below comes from actual mill lead times coming directly from the producing mills to their customers. This is different than the lead time averages collected by Steel Market Update and shared with our readers […]
Buyers and sellers of flat rolled steel having been bouncing like the proverbial rubber ball over the past six weeks as they try to make sense of where steel prices are heading over the near term. Steel Market Update (SMU) asked those responding to our flat rolled steel market trends survey last week where they […]
Steel Market Update concluded our analysis of the flat rolled steel markets earlier today. One of the proprietary products produced out of our twice monthly analysis is the SMU Steel Buyers Sentiment Index which consists of Current and Future Sentiment Indices. Our Current Sentiment Index as a single data point came in at +73. This […]
Flat rolled lead times, which had been stuck in a rut over the past couple of months, have started to move out according to those responding to our flat rolled market trends survey. We are now seeing average lead times on hot rolled close to five weeks (4.81 weeks). We also saw movement in cold […]
The aggressiveness of the flat rolled steel mills was minimal on Galvalume steels this week but other products appear to be open for discussion, according to those taking the SMU flat rolled market trends analysis survey just completed earlier today (Thursday, March 23, 2017). We found 47 percent of our respondents reporting the domestic mills […]
Based on the most recent MSCI data, carbon flat rolled service centers in the United States shipped 2,103,000 tons of sheet products. Our SMU Service Center Apparent Excess/Deficit forecast had called for shipments to be 2,191,000 tons. So, we missed our forecast by 88,000 tons. Our original forecast called for 4,551,000 tons of flat rolled […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained in positive territory for the fourth consecutive week after briefly dipping into negative territory last month. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the previous 12-week […]
Steel mill lead times are one of the key indicators of future direction of steel prices. Steel buyers must be aware of the amount of time it takes a supplier to produce and ship a new order. Lead times and balancing inventories go hand in hand. When lead times shrink, buyers can pull back on […]
Over the course of a few weeks, buyers and sellers of flat rolled steels changed their view of the direction of flat rolled steel price direction. In the middle of February only 14 percent of those responding to our flat rolled steel market trends analysis survey reported prices would move higher with the majority (52 […]
When we conducted our flat rolled market trends analysis during the middle of February we found 20 percent of our respondents had concerns regarding supply during calendar year 2017. The majority of respondents (63 percent) expressed no concerns about supply. As we move forward to last week the majority is still expressing no concerns about […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained in positive territory for the third consecutive week after briefly dipping into negative territory three weeks ago. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the previous […]
Twice per month, Steel Market Update conducts a detailed analysis of the trends impacting the flat rolled steel markets. We issue over 670 invitations to people associated with manufacturing, distribution, steel mills, trading companies and toll processors to assist us in our analysis. We finished conducting our early March research on Thursday of this past […]
Optimism reigns supreme within the steel community and those responsible for buying and selling flat rolled steel products. The SMU Steel Buyers Sentiment Index set new record highs for both Current and Future Sentiment indices. Buyers and sellers of flat rolled steel set a new record high for a single data point at +77 for […]
Hot rolled average lead times remain extended at 4.38 weeks compared to the 3.79 weeks SMU was reporting one year ago. Cold rolled, galvanized and Galvalume lead times were running close to or just below last year’s reported average. Lead time is the average amount of time it takes for a new order of a […]
Flat rolled steel mills have become less enthusiastic about negotiating prices for new orders of hot rolled, cold rolled, galvanized and Galvalume steels. Based on the results of the flat rolled steel market trends analysis coming out of the survey we have been conducting over the past four days. We found 33 percent of the […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained in positive territory for the second consecutive week after briefly dipping into negative territory two weeks ago. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the previous […]
We at Steel Market Update (SMU) have been upbeat on the steel market for many weeks. We thought sharing our Key Market Indicators (KMI) with our readers would help everyone to understand our reading on the market and from where we get our core optimism. An explanation of the Key Indicators concept is given at […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States moved back into positive territory this week following a brief negative dip last week. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the previous 12-week average price as […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. This will explain the difference between our view of the present situation which is subjective and our analysis of trends which is based on the latest facts available. During February our view […]
Steel Market Update (SMU) has adjusted our Price Momentum Indicator to reference spot prices as moving higher from this point over the next 30 days. Our decision to move our indicator is due to the continued high prices for steel mill inputs, such as 62% Fe iron ore fines in China being sold at $91.50/dmt […]
The following article was written by Mario Briccetti, one of our Steel 101 workshop instructors and the director of the consulting firm: Briccetti & Associates. Mario has written other articles about the costs associated with coating galvanized and Galvalume steels. Those articles can be found in our website in the “Steel Buyers Basics” section of […]