Steel Pricing Momentum
What is the Steel Pricing Momentum Indicator?
Through the use of a directional arrow we are indicating the current trend of flat rolled pricing out of the domestic steel mills. The indicator is based on data collected from industry buyers and sellers of flat rolled steel products. Flat rolled steel products include hot rolled steel, cold rolled steel, galvanized and Galvalume steel in sheet and coil form. The indicator is reviewed on a daily basis and adjusted based on our discussions with industry participants as well as our most recent survey data.
- We represent this data as a visual used to depict the near-term pricing trend – an arrow pointing up means the trend is for higher prices, an arrow pointing sideways indicates stable pricing or a market in transition and an arrow pointing down indicates prices will trend lower.
- Near-term pricing means during the next 30-60 day cycle.
- The direction of the Price Momentum Indicator is determined through the Steel Market Update Market Survey and direct contact with steel buyers throughout the country. The Steel Market Update Market Survey is conducted twice per month.
- SMU Market Survey invitations are sent to approximately 650 companies throughout the United States and Canada. Our normal response rate is approximately 150-200 companies. Of those responding our average is approximately 39% are service centers/distribution companies, 52% are manufacturers and the balance are steel mills, trading companies and toll processors which support the industry.
- Steel Market Update does canvass those being invited to participate in order to confirm they are actively involved in the flat rolled steel business. Our list is updated at least once per month and we are adding new companies on a continuous basis.