For the past seven weeks, Steel Market Update (SMU) Price Momentum Indicator has been stuck in “Neutral” waiting for something to push prices in one direction or another. When we made the adjustment the week of November 27, 2012 from Higher to Neutral our SMU range for hot rolled coil was $620-$660 per ton (average […]
Flat rolled steel prices continued to drift slightly lower as buyers reported a tighter range than what we had seen one week ago. The top end of the range for all of the items declined between $10 and $20 per ton this past week. The net result being our averages adjusted lower by $5 to […]
Mill lead times shrunk on all but Galvalume products according to the results of our most recent SMU steel survey completed this past Friday. On a weighted average basis hot rolled lead times shrunk to 3.42 weeks, cold rolled to 5.25 weeks, galvanized to 5.33 weeks while Galvalume lengthened to 6.17 weeks. We provided the […]
Hot Rolled Coil: SMU Range is $600-$650 per ton ($30.00/cwt-$32.50/cwt) with an average of $625 per ton ($31.25/cwt) fob mill, east of the Rockies. Both the upper and lower end of our range dropped $10 per ton from levels measured one week ago. Our average dropped $10 per ton compared to one week ago. The […]
Have tons to buy? Negotiate… What price you will pay for steel at the beginning of January will depend on a number of variables – but one thing is for certain – if you have tons to buy it is best to negotiate with your suppliers. At least that is what our sources have been […]
Written by: Sandy Williams The JP Morgan Global Manufacturing PMI rating increased to 50.2 in December from 49.6 last month according to data released in a composite index produced by JPMorgan and Markit in association with ISM and IFPSM. It is the first time the index has been above the neutral mark of 50.0 since […]
Most of the month of December was spent treading water as flat rolled prices essentially ended the month where they began as the market searched for a clear direction. The discussion for the entire month had been the same as what it has been over the past twenty-four hours – the fiscal cliff and the […]