Steel buyers and traders of foreign steel who have orders on the books and vessels on the water need to be aware the Section 232 statute states that when the president of the United States receives the recommendation from the U.S. Department of Commerce, he then has 90 days to make an announcement. Once the […]
The uncertainty surrounding the Section 232 national security investigation on steel has HARDI members worried about what the steel industry will be like if the ruling favors domestic steel mills and imports are sharply curtailed. In the monthly steel conference call hosted by HARDI (Heating, Air-conditioning, and Refrigeration Distributors International), members talked about “chaos” and […]
In a move that has been building over the past few weeks, today Steel Market Update (SMU) is moving our Price Momentum Indicator to Lower from Neutral. Our belief at this point is flat rolled steel prices will continue their drift lower over the next 30-60 days as we approach what many in the steel […]
HVAC wholesalers reported despite “good” demand they are seeing ultra-competitive conditions on the sales of galvanized steel they are attempting to sell into the HVAC (heating, ventilation, air-conditioning) markets. Steel Market Update participates in a monthly steel conference call hosted by HARDI (Heating, Air-conditioning, and Refrigeration Distributors International) for their member companies. The HARDI conference […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located in the United […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located in the United […]
Steel Market Update participates in a monthly steel conference call hosted by HARDI (Heating, Air-conditioning, and Refrigeration Distributors International) for their members. The HARDI conference call is dedicated to a better understanding of the galvanized steel market. The participants are wholesalers, service centers and manufacturing companies who either buy or sell galvanized sheet products used […]
Flat rolled prices moved higher over the past week based on SMU sources. Even so, there is much discussion as to what direction prices will go from here and we will have more on that subject later this week. We did receive comments from a large service center that our readers might find of interest […]
Demand for HVAC products was coined as being “good” or “very good” by the wholesalers who participated in the monthly HARDI galvanized steel conference call. The wholesalers who spoke on the call earlier today reported strong first quarter sales for their full product line but a few complained of lower steel sales compared to year […]
The following article is the opinion of John Packard, Publisher, Steel Market Update. I haven’t gone back and reviewed the records as to how many times flat rolled steel prices moved higher after a quick run up followed by a stable to slightly down market for a couple of weeks. Probably less than the fingers […]
It has been four weeks since the last HARDI galvanized steel conference call. The call provides a forum for the HARDI HVAC wholesalers and other associated HARDI members to discuss trends affecting galvanized steel prices. Over the past four weeks market prices have eased a bit but many of the factors that drive prices are […]
Steel Market Update (SMU) received the following question from one of our readers: “We are a galvanized sheet metal fabricator. We purchase around 5 million pounds a year (mostly 26ga-14ga). I was hoping you could help us out. We have not had to raise prices in years but galvanized pricing has steady risen over the […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located in the United […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located in the United […]
Flat rolled steel prices are fast approaching the highs achieved during calendar year 2016. Today, Steel Market Update (SMU) released our new hot rolled coil index average at $625 per ton. This is within $10 per ton of the $635 per ton high reported during calendar year 2016. In the case of galvanized steel our […]
Steel Market Update participates in a monthly steel conference call hosted by HARDI (Heating, Air-conditioning, Refrigeration Distributors International). The call is dedicated to a better understanding of the galvanized steel market. The HARDI wholesalers are responsible for the supply of sheet steel and coil as well as other products to the mechanical contractors involved with […]
A special thank you to the companies who have stepped up early to be sponsors at this year’s Steel Summit Conference: Our Conference Sponsor – Pacesetter as well as our two Corporate Sponsors – Bank of America and Mill Steel. We also have one break sponsor at the moment – Kenwal and we have two […]
Steel buyers and executives associated with the service center industry are reporting to Steel Market Update that end users are accepting that we are in a higher priced flat rolled steel environment and most have placed their first quarter 2017 tons. The expectation is for the market to “pause” here due to the holidays which […]
To date the domestic steel mills have announced four flat rolled price increases totaling a minimum of $140 per ton ($7.00/cwt) going back to October 21, 2016. As of today the U.S. steel mills are looking for base price levels on new orders to be placed for the 1st Quarter 2017 to be a minimum […]
Earlier today Dr. Alan Beaulieu of the Institute for Trends Research spoke to the HARDI annual conference in Colorado Springs, Colorado. He started by telling the 1300 people attending the conference, “We did not change our forecast due to the election.” He went on to say that in government things don’t happen quickly, “The economy […]
Today, the U.S. Department of Commerce released Final Census Data for October 2016 as well as license data for November and early December. Since there have only been 6 days of licenses collected for December we are going to ignore that data for now and will report on December next week. October foreign steel imports […]
A punishment tax proposed by President-elect Trump is not sitting well with either Republicans or Democrats. In a series of tweets instead of a press conference, President-elect Trump rolled out his position on U.S. companies that produce products in foreign countries and sell them back to the United States. “The U.S. is going to substantially […]
I am sitting in Colorado Springs, Colorado after having spent the last few days attending the HARDI annual conference. I have been a member of HARDI and have participated in their steel committee for many years. After I stopped selling steel and began Steel Market Update as my main focus I was invited to remain […]
As of late this afternoon www.Kitco.com was reporting zinc spot pricing around $1.22 per pound. Zinc recently reported prices not seen in the past 9 years and those of you buying galvanized and Galvalume steels need to be aware of how zinc is trading. The U.S. steel mills published new extras just as zinc pierced […]
A note to our Premium level members, we put out a Premium supplemental newsletter this afternoon that covered an extensive analysis of the MSCI data (long and flat rolled), there is also an article on currency values for steel trading nations (not good news for domestic mills as dollar has been strengthening), there is a […]
Once per month HARDI* wholesalers conduct a galvanized steel conference call so they can better understand what is happening in the broader markets as they deal with steel pricing, demand and inventory issues. The HARDI monthly call was held on Wednesday, November 9, just one day after the presidential election. Not surprisingly, the future of […]
On Wednesday of this week I participated in the monthly HARDI conference call (see article in tonight’s newsletter). During the call one of the executives from an east coast HVAC wholesaler told the group that he didn’t believe prices could or would move much higher from here. I disagreed with him. One of the justifications […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and the Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located in the United […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located in the United […]
Earlier today Steel Market Update (SMU) participated in the monthly steel conference call hosted by HARDI. The call is for those wholesalers who supply galvanized sheet and coil to the HVAC mechanical contractors. During the course of the discussion it became clear that the wholesalers are quite concerned about the drop in galvanized spot prices […]