With steel prices continuing to decline, steel buyers remain in a strong negotiating position. Twice each month Steel Market Update canvasses the flat rolled and plate steel markets to gauge whether the steel mills are willing to work with their steel buying customers and negotiate steel pricing for orders placed this week. At least nine […]
We saw benchmark hot rolled prices slip this week. Hot rolled dropped to $745 per ton, which is down $15 per ton from what we measured one week ago. Cold rolled prices were unchanged. The lower end of the range on galvanized and Galvalume base prices slipped $20 per ton. The Steel Market Update Price […]
This report examines the import share of sheet, plate, long and tubular products and 16 subcategories through October. Table 1 shows total supply to the market in three months through October and in 12 months through October for the four product groups and the 16 subcategories. Supply to the market is the total of domestic […]
We are quickly sliding toward the Christmas Holiday and the New Year. I guess this means I will need to do some shopping (and shipping) over the next 24 hours or lose my good standing as a father… Over the next couple of publications, we will write about this year through the rear-view mirror. 2018 […]
We are seeing steel price spreads, the range from low to high on a product, tighten this week. Part of the reason is the lack of SMU collecting low-ball orders this week as we did last on galvanized. A second reason is that the high end of the range is being compressed. The net result […]
The year 2019 is shaping up to be a special year for Steel Market Update and our customers. Steel Market Update is much more than a source of market intelligence and a supplier of spot pricing for the flat rolled and plate steel markets. Over the years, SMU has developed a number of highly successful […]
The year 2019 is shaping up to be a special year for Steel Market Update and our customers. Steel Market Update is much more than a source of market intelligence and a supplier of spot pricing for the flat rolled and plate steel markets. Over the years, SMU has developed a number of highly successful […]
Lead times for spot orders of hot rolled and cold rolled steels appear to have bottomed and extended a bit in early December. Lead times on HR and CR have not been this long since September, but are well below the levels seen when prices were spiking earlier this year. Lead times for steel delivery […]
Twice per month Steel Market Update canvasses the flat rolled and plate steel markets as we look to identify key market metrics. One of those is whether the steel mills are working with their steel buying customers and are they willing to negotiate steel pricing for orders placed this week for delivery based on existing […]
Flat rolled steel prices seem to be on a bit of an extra rollercoaster ride as the domestic mills fill out any holes in their order book for December and book new orders for January and February. Over the past few weeks, Steel Market Update has managed to collect some very low data points on […]
Cleveland-based Majestic Steel USA, Inc., has acquired Titan Metal Service, Inc., a Tampa, Fla., service center and processor. The acquisition expands Majestic’s business in the coated flat-rolled market and extends its reach in the Southeast, particularly the growing Florida market, the company said. “We are happy to welcome Titan Metal Service to the Majestic Steel USA […]
I took our coated numbers down pretty hard this week. I had been collecting lower numbers over the past few weeks. However, they would pop up sporadically. Come and go for no reason other than a mill decided that the order was too good to pass up, that it fit a hole or that at […]
It has been a beautiful weekend in Austin, Texas, where I spoke earlier today (Sunday) at the annual HARDI conference. I spoke at the steel council, which consists of HVAC wholesalers who sell galvanized sheet/coil products, manufacturers supplying the wholesalers and a couple of service centers who sell galvanized sheet and coil to the wholesalers. […]
For almost eight years, Steel Market Update has been working in conjunction with the U.S. and Canadian steel mills on a basic steel training workshop for those involved in the flat rolled, plate and long product steel industries. We have trained in excess of 600 individuals ranging from people on their first day on the […]
Both Steel Market Update and the CRU Group forecast lower steel prices next year. With a new North America free trade agreement soon to be signed, the U.S. is likely to lift or modify the Section 232 tariffs on Canada and Mexico, opening the borders to more imports and adding to the downward pressure on […]
For almost eight years, Steel Market Update has been working in conjunction with the U.S. and Canadian steel mills on a basic steel training workshop for those involved in the flat rolled, plate and long product steel industries. We have trained in excess of 600 individuals ranging from people on their first day on the […]
We did not collect as many low price data points on hot rolled this week as we did last. We did see erosion at the upper end of the range as most offers appear to be trending below $800 per ton. Steel buyers continue to worry about the basic laws of supply and demand. There […]
Steel Dynamics made big news on Monday, announcing it will construct a new $1.8 billion electric arc furnace flat roll steel mill in the United States. The mill will have an annual production capacity of approximately 3 million tons and the capability to produce the latest in advanced high-strength steels. The facility will include value-added […]
Few of the steel buyers canvassed by Steel Market Update this week expect flat roll prices to rise significantly in the first quarter. Most anticipate prices stabilizing or continuing to trend downward, especially if the Trump administration lifts the Section 232 tariffs on imports from Canada and Mexico. The promise of increased supplies from the […]
Lead times for most flat rolled steel products are at or near their shortest of the year. Lead times for steel delivery are a measure of demand at the mill level—the shorter the lead time, the less busy the mill. The less busy the mill, the more likely they are to negotiate on price. Responses […]
Steel mills remain open to price negotiations on hot rolled, cold rolled and coated products, but not plate, report buyers canvassed by Steel Market Update this past week. Steel Market Update tracks how buyers and sellers of flat rolled and plate steel characterize price negotiations with the mills. The steelmakers’ greater willingness to compromise on […]
Last week, Steel Market Update conducted our mid-November analysis of the flat rolled and plate steel market trends. During the process, we reviewed demand, lead times, negotiations, service center spot pricing, steel pricing and a myriad of other important issues of interest to buyers and sellers of hot rolled, cold rolled, galvanized, Galvalume and plate […]
Flat rolled steel prices dropped again this week. One of our domestic steel mill sources told us this afternoon, “Everything is down about a buck from last week.” This source went on to say that the U.S. steel mills are producing more and exporting less. The net result being there is more supply available. Here […]
Steel buyers can be fickle people. They are tasked with keeping their company in product, and that those purchases be competitively priced at the time they are used. This is a daunting task when markets ebb and flow, and even more difficult when the government decides to become a major player in determining who will […]
The U.S. Department of Commerce has released import license data for the months of October and November through the 13th of the month. October foreign steel imports are expected to reach 3 million net tons on the back of almost 900,000 net tons of semi-finished steels (mostly slabs going to the domestic steel mills). It […]
This report examines the import share of sheet, plate, long and tubular products and 16 subcategories through September. Table 1 shows total supply to the market in three months through September and in 12 months through September for the four product groups and the 16 subcategories. Supply to the market is the total of domestic […]
Flat rolled steel prices dropped this week based on our analysis of the market. Benchmark hot rolled coil dropped $5 per ton and is now averaging $800 per ton ($40.00/cwt). We saw even larger negative price movements in cold rolled, galvanized and Galvalume steels. Plate prices, however, were flat and the expectation of plate steel […]
This evening’s price and price momentum discussion comes after a number of conversations held with flat rolled steel service center CEO’s and a trading company executive on Thursday and Friday of last week. The words “mud” and “murky” were prominent as the steel distributors try to figure out where things are headed as we enter […]
This evening’s price and price momentum discussion comes after a number of conversations held with flat rolled steel service center CEO’s and a trading company executive on Thursday and Friday of last week. The words “mud” and “murky” were prominent as the steel distributors try to figure out where things are headed as we enter […]
Most buyers tell Steel Market Update that flat rolled mills are open to price negotiations on hot rolled, cold rolled and coated steel products. The notable exception is plate. Two out of three respondents to SMU’s latest market trends questionnaire report that plate mills will not compromise on price, while one-third have found some wiggle […]