Both manufacturing companies and steel service centers reported a rebound in support for higher spot prices out of the distributors to their end customers. Respondents to our inquiries on the subject reported to SMU that the elimination of the exclusion status for Canada, Mexico and the European Union was the main culprit impacting flat rolled […]
I am finally home long enough to gather my thoughts and hopefully get back to providing some insights into the flat rolled, plate and scrap markets from my perspective. There is obviously a lot of uncertainty connected to the Section 232 tariffs in both steel and aluminum. The Trump administration appears to have an intense […]
The SMU Steel Buyers Sentiment Index, which measures how buyers and sellers of flat rolled and plate steels feel about their companies’ ability to be successful both now and three to six months into the future, was slightly lower this week. Demand has stayed strong, and buyers and sellers of flat rolled steel generally remain […]
Final steel imports for the month of April were reported at 3,753,987 million net tons, according to the U.S. Department of Commerce data released yesterday. The last time import levels were this high was June 2017 with 3,923,126 tons. April imports are up 12.6 percent compared to the previous month, and up 12.0 percent compared […]
U.S. steel exports in April 2018 totaled 861,004 net tons (781,091 metric tons), down 0.9 percent from the month before, but up 0.4 percent from April 2017. Total exports have averaged around 835,000 tons over the last few months. The total April export figure is above the three-month moving average (average of February 2018, March […]
I have just returned from three days in Memphis where we conducted our Steel 101: Introduction to Steel Making & Market Fundamentals workshop. We had a packed house of motivated steel people from a wide variety of companies. Nucor Hickman and Nucor-Yamato did a great job of hosting our group as we toured both steel […]
This is not a “kiss and tell story” but rather an explanation of why I, John Packard, founder and owner of Steel Market Update, decided to sell my business to the CRU Group. CRU, known globally for its news, analysis and pricing information, was not the only suitor interested in SMU, but they were the […]
This is not a “kiss and tell story” but rather an explanation of why I, John Packard, founder and former owner of Steel Market Update, decided to sell my business to the CRU Group. CRU, known globally for its news, analysis and pricing information, was not the only suitor interested in SMU, but they were […]
Although the average price for hot rolled, cold rolled and coated steels declined slightly this week, the overall momentum is still pointing to higher prices, according to Steel Market Update data. Here is how we see prices this week: Hot Rolled Coil: SMU price range is $840-$930 per ton ($42.00/cwt-$46.50/cwt) with an average of $885 […]
Two venerable Chicago-based metals distributors are joining forces, marking the latest big merger in the consolidating service center sector. Ryerson Holding Corp. has agreed to acquire Central Steel & Wire Co. in a transaction valued at $140 million. Acquisition of Central Steel and Wire will solidify Ryerson’s position as the second largest service center organization […]
With the Trump administration eliminating the Section 232 tariff exclusions for Canada, Mexico and the European Union, it is our opinion that the squeeze on supply coupled with higher prices due to the tariff will provide cover for the domestic steel mills to raise flat rolled and plate steel prices. SMU last moved our Price […]
Flat rolled and plate prices had yet another mixed week, according to the latest comparison of leading price indices. Steel Market Update’s hot rolled average decreased by $10 to $890 per ton, while Platts’ hot rolled price rose $4 to $894 per ton. SteelBenchmarker adjusted their hot rolled price to $886 per ton, up $5 […]
Steel Market Update will be conducting our early June flat rolled and plate steel market analysis beginning at 8:30 a.m. ET on Monday. If you receive an invitation to participate, please take a few moments to open the email and answer the first question at the bottom of the message. That will take you to […]
The Trump administration’s announcement today that it would not spare its closest trading partners from the 25 percent tariff on steel imports surprised many in the market. Effective at midnight, steel from Canada, Mexico and the EU countries will be subject to the same penalty as exports from China and other so-called “bad actors.” Steel […]
Based on the latest license data from the U.S. Department of Commerce reported earlier this week, we are expecting the trend for May steel imports to total approximatley 2.6 million net tons. That’s just over one million tons less than what was imported in April. We continue to see strength in coil and sheet plate […]
Steel Market Update adjusted its price momentum indicator from neutral to higher in late May. Across the month, hot rolled steel prices averaged $886 per ton (up $13 over April), while cold rolled was at $1,007 (up $1), galvanized at $1,100 (unchanged), Galvalume at $1,322 (up $6), and plate at $966 (down $8). The SMU […]
The American iron and steel industry supports nearly two million jobs and contributes more than $520 billion to the U.S. economy, when considering the direct, indirect (supplier) and induced impacts of related commerce, claims a study released last week by the research firm John Dunham & Associates. The study also shows that the iron and […]
There was little movement in flat rolled steel prices over the past seven days most likely due to the Memorial Day holiday weekend. Steel buyers returned to their offices after the long holiday weekend and advised Steel Market Update of what they are seeing out of the domestic steel mills. Last week, we saw a […]
The steel market is waiting anxiously to see what happens June 1 when the tariff exclusions are set to expire for Canada, Mexico and the European Union. Some expect the exclusions to be extended as trade negotiations continue. Most expect steel prices to remain steady or move higher, based on an informal canvass of Steel […]
Flat rolled and plate prices had yet another mixed week, according to the latest comparison of leading price indices. Steel Market Update’s hot rolled average increased by $20 to $900 per ton, while Platts’ hot rolled price was unchanged at $890 per ton. SMU’s cold rolled average fell $5 to $1,005 per ton, while Platts […]
Based on the latest license data from the U.S. Department of Commerce reported earlier this week, we are expecting the trend for May steel imports to total 2.5 million to 2.6 million net tons. We continue to see strength in plate imports, in both coil and sheet. Finished imports are trending toward 2.1 million net […]
What are the potential long-term implications of the Trump administration steel tariffs, in particular their effects on rerollers in the United States? Steel Market Update canvassed steel executives this week for their views on current market conditions, and the impact of the tariffs on pricing and availability clearly remains a source of concern. “I buy […]
A large manufacturing company that buys a tremendous amount of hot rolled in the spot markets explained to SMU what they were seeing out of the domestic steel mills this week: “The market is relatively calm at the moment. Steel prices have been hovering in the same range for the last four to five weeks. […]
Steel Market Update canvassed the market on May 22 to gather steel executives’ views on supply, demand and pricing in the current environment. Some also shared their thoughts on their biggest challenges today. Below are some of their more insightful comments: Q: Are you seeing any signs that steel prices are going to “break out” […]
I spent most of today canvassing the flat rolled and plate steel markets. A portion of the results of my inquiries can be found in our pricing article (indexes) and Tim Triplett’s article entitled, “SMU Q&A: No Signs of a Price ‘Breakout’ Either Way.” Many steel buyers are confused by the lack of clarity in […]
Service centers held essentially the same number of months of supply of flat rolled steel inventories at the end of April as they did as of the end of March 2018. SMU Service Center Months of Supply Index for flat rolled (sheet) steel is 2.7 months based on responses from 95 percent of the steel […]
Flat rolled prices increased slightly on most products this past week, according to the steel price indexes followed by Steel Market Update. Plate prices were seen as being slightly lower than what was published one week ago. Benchmark hot rolled has been relatively stable over the past few weeks. SteelBenchmarker, which only publishes prices twice […]
Despite all the uncertainty on the trade front, demand has stayed strong, and buyers and sellers of flat rolled steel remain optimistic about their chances for success in current and near-term market conditions. The SMU Steel Buyers Sentiment Index, which measures how buyers and sellers of flat rolled and plate steels feel about their companies’ […]
Despite all the uncertainty on the trade front, demand has stayed strong, and buyers and sellers of flat rolled steel remain optimistic about their chances for success in current and near-term market conditions. The SMU Steel Buyers Sentiment Index, which measures how buyers and sellers of flat rolled and plate steels feel about their companies’ […]
For the many friends and admirers who believed Don Simon would be in the steel business forever, the day has finally come. Simon has sold the family business to Union Partners. “I am extremely grateful to have been able to serve the steel industry for as long as I have,” stated the 87-year-old Simon, who […]