Steel market chatter this week
On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.
On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.
They say all’s fair in love and war. But that doesn’t seem to be the case in steel. Being deemed “unfair” could get you slapped with shiny new Section 232 tariffs these days. Then again, “unfair” implies a judge. And people on opposing sides seldom agree with the judgment. Such seems to be the current case between the US and Mexico.
AHMSA’s new investors, Argentem Creek Partners, have plans for a potential staggered restart of operations at the Mexican steelmaker.
On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.
Earlier this week SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.
What are folks in the steel industry talking about at present? Respondents to SMU’s mini-survey this week shared some of their thoughts with us about what's going on in the market. Rather than summarizing their responses, here’s some of what they had to say in their own words.
Domestic prices have been sliding since the beginning of the year, and I don’t see any obvious reasons why the slide might stop this week. But let’s put the timing of a bottom aside for a minute. The question among some of you seems to be whether we’ll see another price spike, or at least a “dead-cat bounce,” before the typical summer doldrums kick in.
At SMU, our goal is not to tell you what to think but to keep the conversation going. We asked you in our survey this week what you were seeing when it comes to steel prices, demand, imports, and wildcards. In your own words, with minimal editing, here’s what some of you in the SMU community shared with us this week.
Everyone knows the old saying that “a picture is worth a thousand words.” Just because it’s a cliché doesn’t mean that it’s wrong. A lot of inked has been spilled trying to figure out why prices are falling now. I thought it might be as simple as this: Market dynamics in the fourth quarter (UAW strike, companies buying ahead of an anticipated post-strike price spike, etc.) pulled forward restocking activity that typically happens in the first quarter.
What a difference a month makes. There are a few full bulls left in the room, but their numbers are dwindling. We’ll release results of our full steel market survey tomorrow afternoon. I took a sneak peak at the data on Thursday. And more people than I expected think that US hot-rolled (HR) coil prices will be in the $700s per short ton (st) two months from now. Vanishingly few think prices will be above $1,000/st in mid-April.
What are folks in the steel industry talking about? SMU polled steel buyers on a variety of subjects this past week, including domestic steel prices, import offers, buying activity, and more. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words.
With rising steelmaking capacity and relatively flat demand, industry analysts are predicting lower prices for sheet products this year.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel sheet prices, demand, inventory, imports, and what people are talking about in the market. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your […]
I want to thank the Heating, Air-conditioning & Refrigeration Distributors International (HARDI) for the opportunity to speak at their annual conference in Phoenix. I enjoyed the proceedings and participating in a panel for HARDI’s sheet metal/air handling council. I can’t recap all that we discussed in a few hundred words. But I’d like to share […]
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, and what people were talking about in the market.
There was consensus that steel prices would crash on the UAW strike and then rebound just as sharply once the union and the “Big Three” automakers reached tentative deals.
Latin American flat-rolled steelmaker Ternium is seeing strong demand in Mexico, its main market. With its new mill in Pesquería, Mexico, up and running, more lines there set to come online, and the company now holding an increased stake in Brazilian mining and steel company Usiminas, Luxembourg-based Ternium is optimistic about the future direction of the company.
Mill lead times for flat-rolled products pushed out this week once again across the board.
Sheet prices have fallen to their lowest point of the year - just below $700 per ton ($35 per cwt) when it comes to hot-rolled coil (HRC).
President and CEO of Ternium Mexico Cesar Jimenez discussed positive demand trends and challenges in the Mexico market with SMU managing editor Michael Cowden during a fireside chat on Tuesday, Aug. 22 at the SMU Steel Summit in Atlanta.
The Mexican government has placed temporary levies of 25% on inward-bound shipments of steel products from countries with which it does not have a free trade agreement.
Latin American steelmaker Ternium remains optimistic that positive trends in the Mexican market will help it to continue increasing its market share.
Our sheet prices are down again this week. Some of you think it’s a sign of something ominous, others think it’s just a case of seasonality. It might help to step back and put things in perspective.
Mexican steelmaker Altos Hornos de México (AHMSA) said there could be an “indefinite” delay to the restart of production because of a blockade by activists.
Mexican steelmaker Altos Hornos de México (AHMSA) said there could be an “indefinite” delay to the restart of production because of a blockade by activists. The company said its steel plants in Monclova, Coahuila state, were blockaded by activists of the Sindicato Nacional Minero (National Mining Union), which represents AHMSA’s striking workers, according to a […]
Hot-rolled coil (HRC) prices fell for a second consecutive week as mills appear to have given up holding the line on $900 per ton ($45 per cwt) and amid discounting into the high $700s per ton. SMU’s average HRC price now stands at $830 per ton, down $40 per ton from a week ago and marking […]
Fort Wayne, Ind.-based steelmaker Steel Dynamics Inc. is taking advantage of opportunities in the Mexican steel market and plans to continue doing so moving forward. Executives discussed some of those opportunities on the company’s second-quarter earnings conference call on Thursday, July 20. The location and capabilities of SDI’s newest flat-rolled steel mill in Sinton, Texas, […]
Fort Wayne, Ind.-based steelmaker Steel Dynamics Inc. is taking advantage of opportunities in the Mexican steel market and plans to continue doing so moving forward.
We’re just a month out from Steel Summit, so I decided to go back and check on how things look now compared to ~30 days ahead of the event last year. For starters, approximately ~1,100 people are registered to attend the event on Aug. 21-23 in Atlanta. That puts us on track to meet or […]