Tag: OEM

GE Appliances announces $490-million reshoring project in Kentucky.

Domestic galvanized prices remain relatively rangebound despite the conclusion of the US presidential election.

Domestic manufacturing contracted for the seventh straight month in October, according to the latest report from the Institute for Supply Management (ISM). This marks the 23rd time in the last 24 months that it has been in contraction.

Heavy equipment manufacturer John Deere blamed soft demand and a reduction in orders for a spate of layoffs in Iowa this year, according to a local report.

Former President Donald Trump has said he will place a 200% tariff on John Deere products imported into the US if the company makes good on previously announced plans to move some production to Mexico.

Domestic plate prices have been on a historic run since they began surging in January 2021. Tags reached an all-time high of $1,940 per short ton (st) in May 2022, though they have mostly trended lower over the past two years.

Many of our contacts remain bearish about the very short-term direction of steel prices. But a consensus seems to be forming, according to our latest survey results, that a bottom will occur in July. Consensus is also that hot-rolled (HR) coil prices won't fall below $600 per short ton (st).

SMU’s Current Steel Buyers’ Sentiment Index tumbled this week, while Future Sentiment ticked up slightly, according to our most recent survey data.

Let's take a collective deep breath ::in:: and ::out::... And we're back. But where exactly are we? Are steel prices going up or down? Is demand really decelerating or is it an illusion? How is the market navigating the new mill pricing mechanisms?

Steel Market Update’s Steel Demand Index fell five points to a 12-month low and moving further into contraction territory, according to our latest survey data.

What's the tea in the steel industry this week? Here's the latest SMU gossip column! Just kidding... kind of. Yes, some of the comments we receive in our weekly flat-rolled market steel buyers' survey are honestly too much to put into print. Some make us laugh. Some make us cringe. Some are cryptic. Most are serious. We appreciate them all. Below are some highlights from our survey results this week. Some of the comments that we can share with you are also included, in italics, in the buyers' own words, with minimal editing on our part.

SMU’s Steel Buyers’ Sentiment Indices both declined this week, with Current Sentiment tumbling over 10 points, according to our most recent survey data.

Galvanized buyers reported steady demand and ample supply this week as pricing momentum has shifted, potentially pointing down. Service centers, distributors, and manufacturers who are members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association met virtually on Tuesday, April 23, for the monthly meeting of HARDI’s Sheet Metal/Air Handling Council. Sentiment was noticeably […]