Steel Market Update’s canvass of the market this week shows hot rolled and galvanized steel prices down about $15 a ton, though plate is up about $10 a ton following last week’s price increase announcements by the mills. Prices have yet to gain much traction even though demand has improved as coronavirus restrictions have been […]
Raw materials prices have seen varying trends in the past month or two as the coronavirus has had varying effects on different commodities in different parts of the world. Iron ore prices have stayed relatively high due to strong demand in China, where COVID-19 restrictions have been eased. Virus-related disruptions to Brazilian mining operations have […]
It’s time to register for CRU’s 5th Annual New York Steel Briefing. The event, now virtual due to the coronavirus, will feature CRU analysts sharing their outlooks for steel and how to manage through volatile markets. Date: Tuesday, June 23, 2020 Time: 10:00 – 11:00 AM EST Overview: The Covid-19 pandemic has caused unprecedented disruption across domestic […]
It’s not too late to register for CRU’s 5th Annual New York Steel Briefing. The event, now virtual due to the coronavirus, will feature CRU analysts sharing their outlooks for steel and how to manage through volatile markets. Date: Tuesday, June 23, 2020 Time: 10:00 – 11:00 AM EST Overview: The Covid-19 pandemic has caused unprecedented disruption […]
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.” The historical survey results presentations also are available in the Survey Results section for “Survey Results History.” If you […]
U.S apparent steel supply fell to 6.54 million net tons in April, according to recent U.S. Department of Commerce and American Iron and Steel Institute data. This is the lowest supply level in our limited 10-year history. Apparent steel supply, a proxy for demand, is determined by combining domestic steel shipments and finished U.S. steel […]
It’s time to register for CRU’s 5th Annual New York Steel Briefing. The event, now virtual due to the coronavirus, will feature CRU analysts sharing their outlooks for steel and how to manage through volatile markets. Date: Tuesday, June 23, 2020 Time: 10:00 – 11:00 AM EST Overview: The Covid-19 pandemic has caused unprecedented disruption across domestic […]
United States steel exports slumped to a 21-year low in April, down 39 percent from March and down 33 percent from one year prior, according to recent U.S. Department of Commerce data. April steel exports totaled 403,949 net tons, just a hair above the December 1998 low. Recall that March export levels were at a five-month […]
Steel Market Update continues to accept nominations for the 2nd annual SMU NexGen Leadership Award, sponsored by the Steel Manufacturers Association. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference […]
Steel prices have been clawing their way back since hot rolled hit a low of $460 per ton in late April, moving up by $10 in the past week and recovering roughly $55 over the past five weeks to the current $515 per ton. The mills have managed to collect some, but certainly not all, […]
Both Nucor and Steel Dynamics have revised their galvanized coating extras due to the decline in zinc prices. SMU has done an analysis on the old and new Nucor galvanized extras, provided below. Nucor extras declined by an average of 16 percent. The comparison below shows old and new Steel Dynamics galvanized extras, which declined […]
Recently released Census data shows final April steel imports totaling 2.77 million net tons, according to the U.S. Department of Commerce. This is just 1,700 tons higher than the preliminary April import figures SMU reported in late-May and up 58.4 percent over March figures. Finished imports in April were 1.32 million tons, down 13 percent […]
Join us for CRU’s 5th Annual New York Steel Briefing, now virtual, featuring the outlook for steel and how to manage through volatile markets. Date: Tuesday, June 23, 2020 Time: 10:00 – 11:00 AM EST Overview: The Covid-19 pandemic has caused unprecedented disruption across domestic and global commodity markets, with steel among those most impacted. With scenarios for a post-pandemic outlook […]
April heating and cooling equipment shipments totaled 1.44 million units, down 17.5 percent from the same month one year ago, according to recent data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). This is the largest year-over-year decline seen in nearly 11 years, going back to June 2009. As a three-month moving average, total heating […]
This week’s SMU comparison of foreign and domestic hot rolled prices shows that U.S prices remain advantageous over foreign imports, but at a slightly lesser level compared to mid-May figures, according to SMU and CRU indices. The price gap between domestic HRC compared to German imports is just over $100 per ton, while the Italian […]
Join us for CRU’s 5th Annual New York Steel Briefing, now virtual, featuring the outlook for steel and how to manage through volatile markets. Date: Tuesday, June 23, 2020 Time: 10:00 – 11:00 AM EST Overview: The Covid-19 pandemic has caused unprecedented disruption across domestic and global commodity markets, with steel among those most impacted. With scenarios for a post-pandemic outlook […]
James Banker, Executive Vice President of NLMK USA, will be the featured speaker at 11 a.m. ET on Wednesday, June 10, for our next SMU Community Chat webinar. Mr. Banker will share his views on the current state of steel production during the coronavirus pandemic, as well as various trade issues. The 45-minute webinar is […]
James Banker, Executive Vice President of NLMK USA, will be the featured speaker at 11 a.m. ET on Wednesday, June 10, for our next SMU Community Chat webinar. Mr. Banker will share his views on the current state of steel production during the coronavirus pandemic, as well as various trade issues. The 45-minute webinar is […]
We are pleased to announce the 2nd annual SMU NexGen Leadership Award, sponsored by the Steel Manufacturers Association. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference in North America, […]
Steel prices saw little movement this week, except for a small bump in hot rolled and a slightly bigger bump in Galvalume, as the market marches in place while it waits to see what happens to demand in June as more companies ramp up production following the coronavirus shutdowns. Steel Market Update’s Price Momentum Indicators […]
Steel prices inched upwards during the month of May following price increase announcements by the mills, with the SMU hot rolled index reaching $500 per ton last week. Scrap prices increased over April, as did zinc and aluminum prices. SMU Buyers Sentiment Index readings increased over April, with Current Sentiment coming back into positive territory […]
The U.S. Energy Information Administration (EIA) reports that exploration and development expenditures are likely to drop significantly this year. Global expenditures related to oil and gas E&D increased $42 billion (13 percent) in 2019, totaling $361 billion, according to the aggregate financial reports for 102 publicly traded oil companies. Additions to these companies’ collective proved […]
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.” The historical survey results presentations also are available in the Survey Results section for “Survey Results History.” If you […]
Active U.S. and Canadian drill rigs declined yet again this past week, according to oilfield services company Baker Hughes. The active drill rigs count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active U.S. rigs fell by 17 to 301, with oil […]
As the world faces the unprecedented challenge of COVID-19, and travel restrictions and other factors continue to limit the movement of people, we are pleased to announce that the SMU Steel Summit Conference will go ahead this year – as a virtual conference This is to ensure the health and well being of all participants, […]
Recently updated license data shows preliminary April steel imports were 2.77 million net tons, according to the U.S. Department of Commerce. This is a downward adjustment of 200,000 tons compared to the license data reported last week. Finished imports in April are at 1.32 million tons, down 13 percent over the previous month. Nearly 230,000 […]
Steel prices gained some strength across the board following the mills’ price increase announcements on flat rolled and plate products last week. The benchmark price for hot rolled has managed to get back to the $500 per ton mark, even as the market continues to struggle with shaky demand due to the coronavirus. The increases, […]
The COVID-19 pandemic has resulted in weaker global demand for steelmaking raw materials. However, the cost of producing and delivering many of these commodities has also fallen. Strong demand in China is helping to buoy prices for iron ore and other materials. Table 1 summarizes the price changes through May 21 of the five materials […]
We are pleased to announce the 2nd annual SMU NexGen Leadership Award, sponsored by the Steel Manufacturers Association. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference in North America, […]
Flat rolled steel prices were mixed this week as benchmark hot rolled rose $10 per ton and is now up $20 per ton from the cycle low. Cold rolled remained within the range we reported last week and our average on CR is unchanged. Galvanized pricing data was mixed with a couple of mills cutting […]