Lead times are reported as being relatively stable compared to two weeks ago, but down slightly from the cycle highs which were achieved within the past two months. Our manufacturing and service center respondents reported the domestic steel mills as becoming more flexible in their flat rolled steel price negotiations. Fifty percent of the manufacturing […]
Even though there might be an air of expectation that flat rolled steel prices are going to drop, Steel Market Update continues to see a stingy domestic steel industry. Stingy in that they are not quick to give back the gains made over the past eight weeks. SMU noticed that Platts actually moved their hot […]
The U.S. Department of Commerce released updated import license data through the 20th of May. If we remember, the license data through the 13th projected that we would see May imports surpass 4.0 million net tons and could go as high as 4.5 million tons. We discounted that number as we have seen previous month’s […]
With the exception of plate, flat rolled steel prices either moved sideways or slightly lower based on the steel indexes followed by Steel Market Update. Prices appear to have peaked with benchmark hot rolled averaging $688 per ton, cold rolled $808 per ton, galvanized .060″ G90 $871 per ton and Galvalume .0142″ AZ50, Grade 80 […]
On Wednesday, Steel Market Update adjusted our SMU Price Momentum Indicator to Neutral from Higher. Our Price Momentum Indicator had been pointing toward Higher prices ever since March 25, 2014. Over the past seven weeks, hot rolled coil prices advanced from $630 to a high of $685 per ton based on the Steel Market Update […]
SteelBenchmarker released regional pricing earlier this week, putting the world export hot rolled price at $501 per net ton ($552 per metric ton). The spread between the SMU HR price and the world HR price went from $173 per ton two weeks ago to $184 as of Monday. With an estimated $70 per ton in […]
Steel Market Update published our special data on March steel imports which are produced by product (slabs, plate in coil, hot rolled, cold rolled, galvanized and Galvalume), by port of entry and by the country of origin. The full data is available for review by our Premium Level subscribers. Below is a portion of the […]
U.S. and Canadian steel mills continue to keep a firm grip on pricing as supply (production) related problems keep lead times extended on most products. We are seeing the impact of foreign galvanized and Galvalume imports influencing at least one coated steel mill in the South. Domestic buyers appear to be accepting the higher prices […]
The U.S. Department of Commerce released their latest imported steel license data for the month of May 2014. The early indication is for May steel imports to remain at, or above the projected April imports of 3.7 million tons. March final imports came in at 3.2 million which is also our 3 month moving average. […]
Steel Market Update watches foreign steel imports as closely as humanly possible as we look for trends to see how imported steel tonnages relate to past historical averages. We use a monthly average as opposed to a specific monthly number in order to smooth out the numbers and provide a clearer picture. As you can […]
Apparent supply is defined as domestic mill shipments to domestic locations plus imports. Sources are the American Iron and Steel Institute and the Department of Commerce. The three month moving average of the total tonnage of sheet and strip supply in the 1st quarter was 4,603,548 tons, up from 4,426,649 tons per month in Q4 […]
The domestic steel mills continue to be united in their approach to negotiating flat rolled steel pricing. Based on data collected this week from our flat rolled steel market survey, we found that only 30 percent of the respondents were reporting the domestic mills as willing to negotiate hot rolled steel pricing. This is up […]
Pressure continues on flat rolled steel prices as we saw gains on hot rolled and cold rolled while galvanized and Galvalume remained the same as one week ago. The issue on the coated products and cold rolled to a lesser degree, has been imported steel which is impacting the southern states in two ways. First, […]
Steel Market Update (SMU) flat rolled steel price indices all saw very large double digit increases from the beginning to the conclusion of April 2014. Steel Market Update provides a range for our readers from low to high with the average being our indexed number for the product. We saw benchmark hot rolled prices increasing […]
Steel Market Update follows a number of price indices on a weekly basis. All of the indices saw double digit increases during the month of April. The average change on hot rolled was +$43 per ton, cold rolled +$47 per ton, galvanized +$66 per ton and Galvalume +65 per ton. Plate prices remained relatively stable […]
The following article is a continuation of our Steel Buyers Basics series written by Mario Briccetti. Mario is Principal of Briccetti & Associates, a Supply Chain consulting firm, and can be reached at Mario@mbriccetti.com In my series of articles, I have stressed that buyers should have the best information possible in order to effectively negotiate pricing […]
Flat rolled steel mills have become less willing to negotiate flat rolled steel spot prices with their customers. During the analysis of the flat rolled steel market conducted by Steel Market Update earlier this week, we found large adjustments in negotiations on hot rolled pricing as well as spot galvanized steel pricing. Cold rolled actually […]
Prices moved sideways this week as buyers digest the $30 per ton of movement made in benchmark hot rolled pricing going back to the beginning of the month of April. Steel Market Update is aware there are a number of domestic mills who have made “internal” spot price adjustments, taking price offers from $34.25/cwt ($685 […]
The U.S. Department of Commerce released preliminary steel import census data for March and reported total steel imports at 3,218,914 net tons (NT). Compared to February, March imports are down by 2.0 percent or 66,960 NT. Compared to the same month one year ago, total March 2014 imports are up 25.2 percent or 648,510 NT. […]
Flat rolled steel prices continue to be firm as supply issues haunt the northern steel mills and lead times remain extended at most mills throughout the eastern United States and Canada. US Steel has issues with receiving raw materials into their Gary Works facility which has slowed steelmaking operations to approximately 50 to 75 percent […]
Foreign steel imports, for the month of April 2014 are projected by Steel Market Update to exceed 3.5 million net tons. Based on preliminary license data collected by the U.S. Department of Commerce through April 22, 2014 imports could reach as high as 3.7 million net tons. However, as our regular readers already know, license […]
All of the steel indices followed by Steel Market Update saw flat rolled steel prices increase this past week. Benchmark hot rolled coil saw the spread between the indices shrink while the average HR price increased by $17 per ton. Cold rolled was one item where the price spread increased across the various steel indexes […]
Steel Dynanics CEO Mark Millett and other officers of the steel mill provided their review of the company’s first quarter earnings as well as their insights into the various markets they serve as well as the challenges and opportunities they see in front of them. SMU found one comment interesting as Mr. Millett feels there […]
According to Steel Market Update most recent flat rolled steel market survey results, lead times at the U.S. and Canadian steel mills continue to extend on hot rolled, cold rolld and coated products with the exception of Galvalume. Hot rolled lead times are now averaging 5.49 weeks, up from 4.87 weeks just two weeks ago […]
Flat rolled steel mills have become less willing to negotiate flat rolled steel spot prices with their customers. During the analysis of the flat rolled steel market conducted by Steel Market Update earlier this week, we found large adjustments in negotiations on hot rolled pricing as well as spot galvanized steel pricing. Cold rolled actually […]
Severe winter conditions negatively impacted Steel Dynamic’s first quarter earnings causing a 25 percent drop in consolidated operating income as compared to the previous quarter. SDI reported net income of $39 million for first quarter 2014, on net sales of $1.8 billion, down from $55 million on net sales of $1.9 billion Q4 2013. Steel […]
All of the current production issues are relegated to the northern fully integrated steel mills. One of our service center contacts laid out the production scenario and how it is impacting the other northern steel producers: “The Great Lakes outage, and then accident during repair, and the Gary reduction in output is the important factor […]
Steel Market Update found flat rolled steel prices to be higher this week. As mentioned in our first article, pricing is not even across the country and we are seeing some flexibility in the numbers in the south compared to those in the Midwest. The Midwest is where all of the mill production disruptions are […]
The U.S. Department of Commerce released license data through Tuesday, April 15th for imported steel scheduled to arrive into the United States during the month of April. Based on this early license data (knowing it can be misleading) we are projecting total steel imports will exceed the 3.5 million net tons forecast for March. Our […]
Total shipments of sheet and strip steel products, including hot rolled, cold rolled and all coated products, were down by 3.5 percent YTD compared to the first two months of 2013. In the period December through February compared to the previous three months, the total tonnage was down by 2.3 percent. Comparing YTD shipments for […]