Price negotiations between steelmakers and steel users have loosened considerably on most steel products. Buyers report some new wiggle room in talks over spot prices. In the hot rolled segment, nearly three out of four of the steel buyers responding to SMU’s questionnaire this week (74 percent) said the mills are now more willing to […]
Steel prices can’t seem to gain any traction, as hot rolled, cold rolled and plate saw small declines this past week, while coated steel prices saw a small uptick. Steel Market Update’s Price Momentum Indicators remain pointing higher, but with less confidence about the trend. Here is how we see prices this week: Hot Rolled […]
If you want to get a better feel for what you can learn and the value of our Steel 101 workshop, listen to what a couple of our most recent attendees had to say: “This is a great workshop where the ABC’s of the steel business are spelled out quite clearly, even for someone new […]
If you want to get a better feel for what you can learn and the value of our Steel 101 workshop, listen to what a couple of our most recent attendees had to say: “This is a great workshop where the ABC’s of the steel business are spelled out quite clearly, even for someone new […]
Except for a small decline in coated products, steel prices remained largely unchanged in the past week, according to Steel Market Update’s latest check of the market. While SMU’s Price Momentum Indicators continue to point higher, we’ll be watching closely to see if the uptrend in prices is losing steam. Here is how we see […]
Lead times for hot rolled and cold rolled steel have flattened out, seeing little change in the past month, as measured by Steel Market Update. Lead times for steel delivery are an indicator of demand at the mill level. The longer the lead time, the busier the mill. Lead times in general are about a […]
Negotiations between steelmakers and steel buyers on new spot orders appear to have loosened slightly on hot rolled and cold rolled, but not to levels we saw in late 3rd quarter 2019. In the hot rolled segment, the majority of buyers (58 percent) said the mills are now more willing to negotiate prices on HR, […]
Steel Dynamics reported record steel shipments of 10.8 million tons and net sales of $10.5 billion in 2019 for the company’s second-best sales performance. Steel fabrication also set a yearly record with shipments of 644,000 tons, and almost doubled its operating income from 2018. Sales declined 11 percent to $11.5 billion from the record high […]
I have been spending time looking at market momentum, lead times (real, not from our survey), who is buying and who is not (and why), and what the market should be concentrating on over the next couple of months (not just today). I am going to start with comments I got from a couple of […]
Steel prices, which have been trending upward for the past two months, gave a bit back this past week, according to Steel Market Update’s latest check of the market. Whether this is a change of direction or just a brief pause remains to be seen, but SMU’s Price Momentum Indicator continues to point higher. Here […]
2019 was a challenge for steel suppliers, with both demand and pricing on a downward slope for the first three quarters of the year. Although it’s still early, there are signs 2020 could prove to be a better year for the steel industry. Steel mills, and the service centers that process and distribute their products, […]
Steel Market Update’s 31st Steel 101: Introduction to Steel Making & Market Fundamentals Workshop, set for Merrillville, Ind., on March 31 and April 1, is now taking registrations. We will be working out of the Hilton Garden Inn in Merrillville, a short drive away from the NLMK Portage steel mill, which we will tour on […]
Steel Market Update’s 31st Steel 101: Introduction to Steel Making & Market Fundamentals Workshop, set for Merrillville, Ind., on March 31 and April 1, is now taking registrations. We will be working out of the Hilton Garden Inn in Merrillville, a short drive away from the NLMK Portage steel mill, which we will tour on […]
The price of hot rolled steel topped the $600 per ton mark this week, cresting a psychological barrier that many saw as unreachable two months ago. Opinions are split on how much higher HR can go, and how long it can stay above the $600 level. Prices for all flat rolled products increased by another […]
As the laws of economics have proven time and again, supply and demand will determine whether steel prices continue to rise in 2020. Demand is set by the marketplace; supply can be controlled by producers. Steel Market Update canvassed the market this week, asking readers: Has enough flat rolled capacity been removed to keep prices […]
Lead times for coated steels and steel plate have extended a bit, but lead times for orders of hot rolled and cold rolled have seen little change in the past few weeks. Lead times for steel delivery are a measure of demand at the mill level. The longer the lead time, the busier the mill. […]
Negotiations between steelmakers and steel buyers were mixed in early January, depending on the product. Responses to Steel Market Update’s market trends questionnaire this week indicate that talks over price have tightened considerably for plate, while loosening slightly for hot rolled and cold rolled orders. In the hot rolled segment, the majority of buyers (56 […]
I was taking a deeper dive into some of the data compiled from last week’s flat rolled and plate steel market trends analysis. Having added about 50+ new companies to our survey, we now send invitations to 500+ individuals who actively participate in the flat rolled or plate steel markets. On purpose, we concentrate on […]
I was taking a deeper dive into some of the data compiled from last week’s flat rolled and plate steel market trends analysis. Having added about 50+ new companies to our survey, we now send invitations to 500+ individuals who actively participate in the flat rolled or plate steel markets. On purpose, we concentrate on […]
The uptrend in steel prices has continued into the New Year with flat rolled prices increasing by another $10-20 per ton. SMU’s Price Momentum Indicators continue to point higher for all steel products. Here is how we see prices this week: Hot Rolled Coil: SMU price range is $580-$600 per ton ($29.00-$30.00/cwt) with an average […]
For those of you who stretched out the Christmas, Hanukkah and New Year’s Holidays and are just returning to your offices – Happy New Year and welcome to the decade that promises to make the last 10 years look tame. Steel Market Update will return to our normal market analysis schedule this week, and we […]
Welcome back from the Christmas Holidays. This is the 149th Executive level issue of Steel Market Update produced during calendar year 2019. It is also anticipated to be the last Executive issue prior to the New Year. On Monday we will publish our last Premium issue of the year, our 49th for 2019. Christmas and […]
Happy Holidays! I expect this week to be a tad on the slow side as buyers and sellers of steel celebrate Hanukkah and Christmas. One year ago, benchmark hot rolled prices were averaging $745 per ton ($37.25/cwt), down from the cycle peak achieved the week of July 23, 2018, at $915 per ton ($45.75/cwt). Since […]
After a brief hesitation early in the month, mill lead times for spot orders of flat rolled steel have continued to increase. The latest data shows slightly longer lead times for all flat rolled products except for Galvalume. Plate lead times have extended, as well. Lead times for steel delivery are a measure of demand […]
Negotiations between steelmakers and steel buyers continue to tighten. Responses to Steel Market Update’s market trends questionnaire this week indicate the mills are slightly less flexible on price for most products as they work to collect four increases announced since late October totaling $150 per ton. In the hot rolled segment, the majority of buyers […]
Flat rolled steel and plate prices remained range-bound this week. The latest price moves by the domestic steel mills (+$40/ton on flat rolled) did not have time to move the needle and take prices higher. As we enter the Christmas and Hanukkah Holidays, we anticipate minimal spot trades over the next couple of weeks. SMU […]
After declining for much of 2019, steel prices have moved up substantially in the last two months. Will the trend continue into 2020? Flat rolled steel producers raised prices three times during October and November for a total of $110 per ton. (Editor’s note: ArcelorMittal USA announced an additional $40 flat rolled increase on Friday. […]
In October, demand for sheet products declined by more than the seasonal norm. Demand for long products is softening as construction expenditures decline. This analysis by Steel Market Update is based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import-export data from the U.S. Department of Commerce (DoC). The […]
This Steel Market Update report examines the import share of sheet, plate, long and tubular products and 16 subcategories. Since January, there has only been one month when the import market share of total sheet products exceeded 15 percent. The import share of HRC has been below 10 percent since January. The most striking result […]
Flat rolled steel prices increased by $15 per ton or more in the past week, depending on the product, while plate prices rose by $10 per ton, as the mills continued trying to collect their recent price increases. Price momentum is pointing to likely higher prices in the weeks to come as the mills try […]