The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” We also have the historical survey results presentations available in our Survey Results section for “Survey Results History.” If […]
Timna Tanners, metals and mining analyst for Bank of America, will be the guest speaker for the next SMU Community Chat, beginning at 11 a.m. ET on Wednesday, May 6. Tanners raised eyebrows last year with her prediction that the mills’ many planned capacity additions would oversupply the market in the next few years and […]
Steps to contain the spread of COVID-19 have dealt a serious blow to construction, which is the largest market for steel. Construction will be the focus of this week’s SMU Community Chat. Two out of three construction executives responding to an April 20-23 survey by the Associated General Contractors of America reported that they are […]
What comes first, the chicken or the egg? We all want our businesses to return to “normal.” We want all employees back to work, getting paychecks, buying products, and living happy, healthy lives. On Wednesday, we hosted one of our SMU Community Chat Webinars. Our featured speaker was Bernard Swiecki of the Center for Automotive […]
SMU Contributor David Feldstein is president of Rock Trading Advisors (davidfeldstein@rocktradingadvisors.com). In addition to market analysis, RTA provides price risk management not only for ferrous products, but also base metals, energy and interest rates. RTA also trains sales staff and creates the infrastructure necessary for firms to offer their customers fixed pricing on physical sales. […]
April 21, 2020 Dear Steel Market Update “Member”, Your business is important to Steel Market Update and our parent company The CRU Group. We know difficult times may lie ahead and we are here to support your business in any way we can. Steel Market Update began operations in August 2008. By the end of […]
Steel Buyers Sentiment remained in pessimistic territory in mid-April as steel demand was stifled by the government restrictions on commerce to control the spread of COVID-19. Future Buyers Sentiment was notably more optimistic, however, which suggests service center and manufacturing executives anticipate better days ahead. Steel Market Update asked steel buyers how they view their […]
Let’s talk automotive! Steel Market Update is pleased to host our weekly SMU Community Chat Webinar on Wednesday morning, April 22, at 11:00 a.m. Eastern Time (10 CT, 9 MT, 8 PT). This week SMU President & CEO John Packard will go one-on-one with Bernard Swiecki, Director of the Automotive Communities Partnership and Assistant Director […]
Lead times for spot orders of flat rolled and plate have continued to shorten despite the mills’ efforts so far to curtail production and match supply with demand. Lead times for steel delivery are a measure of demand at the mill level—the shorter the lead time, the less busy the mill. Average lead times for […]
JSW Steel USA will idle facilities and lay off workers at its plants in Mingo Junction, Ohio, and Baytown, Texas, in an effort to mitigate the impact of the coronavirus pandemic and chaos in the oil and gas market on steel demand. The company said it will temporarily idle the hot rolling mill and EAF […]
On Wednesday, April 15 Steel Market Update hosted our weekly SMU Community Chat Webinar with Phil Raimondo of Behlen Manufacturing and John Packard, President & CEO of Steel Market Update. We had a minor technical glitch which got us out of the gates around 11:10 (our mistake as we learn how to use the Zoom […]
This week’s SMU Community Chat will feature Philip Raimondo, President & CEO of Behlen Manufacturing in Columbus, Neb. He has held a variety of positions in his 28 years with the company, including COO, President of Behlen Engineered Plastics, President of International and Diversified Products, Director of Quality and Human Resources, Manufacturing Manager and Regional […]
U.S. Steel will idle furnace #8 at Gary Works due to low market demand. The furnace was restarted in late 2019 to supplement production during a scheduled maintenance outage for the #4 furnace in 2020. The #8 furnace has been banked in order to quickly restore production should market conditions improve. “We are not in […]
AGC, April 10, 2020: With the covid-19 pandemic worsening by the week, an ever-increasing share of contractors are reporting cancellations of upcoming projects and shortages of equipment or materials, forcing nearly 40 percent of firms to lay off employees, according to an online survey released today by the Associated General Contractors of America. Association officials […]
John Packard of Steel Market Update and Josh Spoores, Principal Analyst and Editor of the Steel Sheet Monitor for CRU, are hosting a webinar tomorrow. Spoores will discuss the CRU steel forecast for 2020-2021, if mill reductions are enough to adjust to forecast demand and, if time permits, maybe a few comments on the HRC […]
So, this is where we will put responses to questions, human interest items and various other “bits and pieces” that we feel will be of value to our readers. The constant news reports on the coronavirus with their rolling tallies of the number of Americans infected, and the number who have perished, are profoundly troubling. […]
Beginning next week, SMU will launch a new online webinar. We are calling it the “SMU Community Chat.” Our idea is to have a live discussion with SMU and other experts on one subject of importance at that point in time. Our idea is to allot from 30 to a maximum of 45 minutes so […]
Beginning the week of April 6, 2020 SMU will launch a new online webinar. We are calling it the “SMU Community Chat.” Our idea is to have a live discussion with SMU and other experts on one subject of importance to the greater steel community we serve in real time. Our idea is to allot […]
By John Packard, President & CEO, Steel Market Update Even though I have worked from my home office for more than 20 years, the last month “feels” different. More accurately, I do not feel as connected with the normal world as I have been in the past. The reality of being confined to a limited […]
By John Packard, President & CEO, Steel Market Update Even though I have worked from my home office for more than 20 years, the last month “feels” different. More accurately, I do not feel as connected with the normal world as I have been in the past. The reality of being confined to a limited […]
SMU Contributor David Feldstein is president of Rock Trading Advisors (davidfeldstein@rocktradingadvisors.com). In addition to market analysis, RTA provides price risk management not only for ferrous products, but also base metals, energy and interest rates. RTA also trains sales staff and creates the infrastructure necessary for firms to offer their customers fixed pricing on physical sales. […]
Today we took our Price Momentum Indicator on flat rolled steel to Lower from Neutral. We are clearly seeing an erosion in pricing, which is expected to continue over the near term. The economy is heading into recession. Key indicators are pointing toward a slowdown in construction as states and local municipalities mandate construction projects […]
AK Steel will idle the C blast furnace at Dearborn Works beginning this week for an undetermined period of time. Dearborn has been impacted by recent shutdowns in the automotive industry and has been criticized for its handling of safety measures during the coronavirus crisis. At least one employee at the Dearborn steel mill has […]
Ferrous scrap prices are expected to drop sharply in April as a result of all the market disruptions from the coronavirus. How sharply is unclear. Almost certainly lower scrap prices will add to the downward pressure already being felt on finished steel prices. Some reports claim scrap could plummet by as much as $100/GT, but […]
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel This month HR physical prices as reflected by the index basically started at $560/ST and rose $20-plus to hold, then fell […]
Steel prices continue to weaken due to the coronavirus’ effect on demand, but have not collapsed as many fear. Galvanized steel saw the biggest decline in the past week, with smaller adjustments for hot rolled and cold rolled products. Here is how we see prices this week: Hot Rolled Coil: SMU price range is $540-$580 […]
By CRU/SMU Staffer Jill Waldman It’s true what they say—your kids will be grown in a blink of an eye. That’s why I am not totally unraveled by having my two teenagers at home full time while schools are closed for a global pandemic. I realize it’s just more time I get to spend with […]
By CRU/SMU Staffer Jill Waldman It’s true what they say—your kids will be grown in a blink of an eye. That’s why I am not totally unraveled by having my two teenagers at home full time while schools are closed for a global pandemic. I realize it’s just more time I get to spend with […]
There is no way to plan for this… The stock market was up 2,100+ points today. I don’t know anyone personally who has contracted the COVID-19 virus. My kids are safe, albeit without incomes for the time being. Gas prices are below $2.00 and headed lower. The weather in Florida is perfect, and technically I […]
Pennsylvania Gov. Tom Wolf ordered all non-life-sustaining businesses in Pennsylvania to close their physical locations as of 8 p.m. Friday, March 19, to slow the spread of COVID-19. Life sustaining businesses include grocery stores, gas stations, farms and transit systems. Due to the high volume of waiver requests, enforcement actions against businesses that do not […]