Much like when seasons change, wholesalers of galvanized steel products sense a whiff of something different in the atmosphere, brought to U.S. shores along with thousands of tons of low-priced imports. “The import market has opened people’s eyes. With that type of a price spread – coupled with auto steel still being impacted by the […]
Despite some regional shifts in commercial construction, demand remains robust – while some project delays are creating backlogs that will likely drive additional construction activity in late Q4 and into early 2022, said members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI). Demand for HVAC and other galvanized-intensive steel products remains strong, said members of […]
We often talk a lot about hot-rolled coil prices in Final Thoughts. I’d like to take a deeper dive into coated prices today. It’s been an almost straight line up for an entire year for flat-rolled steel prices. And galvanized is no exception. Galvanized base prices are at $2,070 per ton ($103.50 per cwt). That’s […]
Mark Millett, CEO of Steel Dynamics, had some interesting comments in this morning’s earnings conference call with analysts. Based on his comments, the domestic steel industry is capable of producing 90-95 million tons of steel annually. The demand for steel is closer to 120 million tons; in extremely strong markets in the past it has […]
Mark Millett, CEO of Steel Dynamics, had some interesting comments in this morning’s earnings conference call with analysts. Based on his comments, the domestic steel industry is capable of producing 90-95 million tons of steel annually. The demand for steel is closer to 120 million tons; in extremely strong markets in the past it has […]
A Whimper or a Bang…? An interesting comment was made by one of the wholesalers on this morning’s HARDI galvanized steel conference call. I am paraphrasing here, but essentially the wholesaler was making the point that even when the mills catch up, the underlying demand is still there. From this executive’s perspective, as long as […]
Ah, remember the good old days… In this month’s galvanized steel conference call with HARDI wholesalers, one of the manufacturing companies discussed the frustrations of buying foreign steel, issues with late deliveries and then difficulties moving the steel from the port to his manufacturing facilities. Traders expressed frustrations related to freight issues (ship and truck). […]
Ah, remember the good old days… In this month’s galvanized steel conference call with HARDI wholesalers, one of the manufacturing companies discussed the frustrations of buying foreign steel, issues with late deliveries and then difficulties moving the steel from the port to his manufacturing facilities. Traders expressed frustrations related to freight issues (ship and truck). […]
“We are focused on availability more than price.” This morning Steel Market Update participated in a very subdued galvanized steel conference call with members of the Heating, Air-conditioning, Refrigeration, Distributors International trade group. HARDI members are wholesalers who supply the mechanical contractors doing work on residential and commercial construction jobs. The key takeaway I got […]
“We are focused on availability more than price.” This morning Steel Market Update participated in a very subdued galvanized steel conference call with members of the Heating, Air-conditioning, Refrigeration, Distributors International trade group. HARDI members are wholesalers who supply the mechanical contractors doing work on residential and commercial construction jobs. The key takeaway I got […]
In Sunday night’s issue of Steel Market Update, I discussed the increase in the days of inventory on order at the service centers. The increase can be attributed to extended lead times, late deliveries and perhaps some double ordering from the distributors’ end-user customers. We saw an increase in the percentage of inventory that is […]
In Sunday night’s issue of Steel Market Update, I discussed the increase in the days of inventory on order at the service centers. The increase can be attributed to extended lead times, late deliveries and perhaps some double ordering from the distributors’ end-user customers. We saw an increase in the percentage of inventory that is […]
Flat-rolled steel prices have room to rise despite being at record levels, and any correction might not come until well into the second quarter. That was the takeaway from a conference call this morning with members of the Heating, Air Conditioning & Refrigeration Distributors International (HARDI). “I don’t remember a market like this. Maybe at […]
When will steel prices plateau? There seem to be two schools of thought on the subject. Many predict prices will peak in March/April, according to Steel Market Update’s surveys of the market. Most members of the Heating, Air Conditioning & Refrigeration Distributors International say they don’t see market prices changing direction before mid-summer. HARDI is […]
“If you’ve tried to buy steel in the last six months, it’s a very frustrating climate,” said one member of the Heating, Air Conditioning & Refrigeration Distributors International during their monthly conference call this morning. HARDI is a trade group representing wholesalers who supply galvanized and other products to the construction/HVAC market. Demand is strong […]
“If you’ve tried to buy steel in the last six months, it’s a very frustrating climate,” said one member of the Heating, Air Conditioning & Refrigeration Distributors International during their monthly conference call this morning. HARDI is a trade group representing wholesalers who supply galvanized and other products to the construction/HVAC market. Demand is strong […]
The good news still outweighs the bad news in the construction/HVAC market, report wholesalers of galvanized steel products. During their monthly conference call this morning, members of the Heating, Air Conditioning & Refrigeration Distributors International (HARDI) said demand is strong across the country and has not been diminished by the record high steel prices, at […]
Steel buyers are resigned to paying record-high steel prices, if that’s what it takes to get the material they need to keep business moving. In their monthly conference call today, members of the Heating, Air Conditioning & Refrigeration Distributors International reported that demand for HVAC and construction products has seen little slowing, though they are […]
Wholesalers who sell galvanized steel products to the construction and HVAC markets are skeptical of analysts’ predictions of a big price correction in the next few months. Judging by the persistently strong inquiries from their customers, most believe the experts underestimated steel demand as prices were on the way up and may do the same […]
Forecasts of weakness in commercial construction have not played out as analysts expected, at least not yet, contend members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI). Robust demand for HVAC and other galvanized steel products has shown no signs of abating, said members of the wholesale trade group during their monthly conference call […]
Forecasts of weakness in commercial construction have not played out as analysts expected, at least not yet, contend members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI). Robust demand for HVAC and other galvanized steel products has shown no signs of abating, said members of the wholesale trade group during their monthly conference call […]
“It’s not how much it cost, it’s do I have steel to make my parts…?” That was one of the comments discussed this morning during our HARDI galvanized steel conference call. Some of the mechanical contractors have jobs to complete, and they need steel to finish. However, others are trying to hold back on buying […]
Not only are wholesalers who service the HVAC and construction industries wondering how high galvanized steel prices can possibly go, they’re even more worried about how low prices could go once the market normalizes next year. In a conference call this morning, members of the Heating, Air Conditioning & Refrigeration Distributors International (HARDI) reported firm […]
The Perfect Storm: Long lead times, late deliveries, low service center inventories, strong demand, higher prices, lack of foreign steel imports, mill outages both planned and unplanned, maximum capacity utilization rates at a number of mills, NLMK USA strike, higher ferrous scrap prices that are expected to go much higher in the coming months, restrictions […]
We had a good conference call with HARDI wholesalers this morning. The dealers who service the mechanical contractors with galvanized sheet and coils continue to be busy. They are surprised at the steepness of the cost curve, and they are beginning to be wary of paying too high a price. One reason they are wary is […]
From one of our SMU readers to John Packard, President & CEO of Steel Market Update, “Welcome back… Regarding steel, wow. What a difference a month (or, a month and half) makes!” A second reader told us, “Market pricing and lead-times have moved aggressively…and rapidly. Many are finding themselves too late to the party.” It […]
Wholesalers who sell HVAC and galvanized steel products to the construction sector have been pleasantly surprised by the resilience of demand in a market dealing with the COVID pandemic. They have been downright shocked by the spike in galvanized steel prices, which have jumped by about $7/cwt or $140 per ton in just the past […]
Wholesalers who sell HVAC and galvanized steel products to the construction sector have been pleasantly surprised by the resilience of demand in a market dealing with the COVID pandemic. They have been downright shocked by the spike in galvanized steel prices, which have jumped by about $7/cwt or $140 per ton in just the past […]
Galvanized steel prices have skyrocketed by more than $200 per ton since August, leaving wholesalers who serve the HVAC market to wonder how much higher the price can possibly go before it begins to cut into demand. On a conference call this morning, members of the Heating, Air Conditioning & Refrigeration Distributors International (HARDI) said […]
Demand remains strong even as galvanized steel prices have topped $900 per ton, reported members of the Heating, Air Conditioning & Refrigeration Distributors International in a conference call this morning. But the HARDI members—wholesalers who serve the HVAC market—expressed concern about the tight availability of galvanized steel and fear of running low on supplies. “We are […]