Premium subscribers to Steel Market Update have access to reports on our website that break out the import tonnage into district of entry and source nation for six sheet and plate categories. SMU has now developed reports that drill down the HRC and CRC into product detail both nationally and for each district. We report […]
Both the plate mills and their customers are advising Steel Market Update that, unlike the hot rolled markets, the plate markets are hot and are expected to continue to be hot for some time to come. The plate mills continue to be on “controlled order entry” (allocation) and all of the mills are struggling to […]
U.S. steel exports in July totaled 655,937 net tons (595,057 metric tons), down 28.2 percent over June and down 18.7 percent from July 2017. This is the lowest total export figure seen since May 2009 when 627,968 tons were shipped out of the country. Prior to July, total exports had averaged around 875,000 tons the […]
Charlotte-based Nucor Corp. will suspend operations at its sheet mill in Berkeley, S.C., and its plate mill in Hertford, N.C., in anticipation of Hurricane Florence. Operations began shutting down on Wednesday and will restart after the storm passes, said Nucor spokesperson Katherine Miller. “At Nucor, safety is our top priority…. We are closely monitoring the […]
There have been many comments regarding the recent article I did on steel index methodologies. Included were comments/answers from two of the price providers mentioned at the beginning of the article who were unable to get to me prior to our publication deadline. I am going to do a follow-up article on Sunday evening. What […]
Flat rolled spot base prices continued to drop over the past week. There are mixed emotions from steel buyers with some believing the weakness being seen is an “overreaction” to a “perceived” weakness in the steel mill order books. Comments were made to Steel Market Update during the data gathering process that weakness is mill […]
Steel Market Update steel training workshops continue to be very popular. We are finding many companies sending their new people to our flagship Steel 101 workshop. This workshop is excellent for those new to the industry; however, it is not just for new employees. It is an excellent way to expand the knowledge base of […]
Written by John Packard, President & CEO, Steel Market Update When I was selling steel for a domestic mill (Winner Steel, now called NLMK Sharon), there was always cause for concern when steel buyers would contact me and reference a price from a trade publication that I knew to be “out of date” with the […]
Steel demand and prices are seeing some softening, but perhaps not enough to trigger a big inventory correction yet, report respondents to Steel Market Update’s flat rolled market trends questionnaire this past week. About 27 percent of the steel buyers who responded believe demand for their products is declining. However, the majority, 58 percent, report […]
Future Sentiment, measured as both a single data point and as a three-month moving average (3MMA), is near its low point of the year as conflict on the trade front keeps buyers guessing. Future Sentiment registered +55 in Steel Market Update’s latest Steel Buyers Sentiment Index, down from +67 in mid-August. Current Sentiment registered +63, […]
Are the Section 232 tariffs affecting the volume of steel imports? We will look at this several different ways, as the answer depends on what time frame is chosen for comparison. Commerce Secretary Wilbur Ross said on Aug. 10 that since the imposition of Section 232 tariffs in March, imports to the U.S. have declined […]
Once again flat rolled steel prices fell as steel buyers held back orders sensing blood in the water (lower prices). As one service center owner put it to Steel Market Update this afternoon, “The question is how weak can it get?” We were told the market had been acting like it had a “slow leak” […]
The Trump administration tariffs have had the expected effect on steel imports and steel pricing this year, but prices for hot rolled coil and plate could moderate a bit next year as economic growth slows and the cost of steelmaking raw materials begins to decline, forecasts Josh Spoores, principal steel analyst for the CRU Group. […]
August saw our SMU Price Momentum Indicator move from Neutral to Lower indicating our expectation that we will see prices drop over the next 30-60 days. The last couple of weeks of August and into early September has seen prices dropping and the trend does not appear ready to abate quite yet. Our Sentiment Index […]
Austrian steelmaker Voestalpine will move part of U.S. automotive parts production to Mexico to avoid steel import tariffs. Voestalpine has 48 U.S. sites that primarily use domestic steel but about one third of company revenue relies on plate and specialty imported steels that are not produced in the United States. U.S. production accounts for one […]
Our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop will be held in Toledo, Ohio on December 11 & 12, 2018. We will be touring the North Star BlueScope steel mill. The NSB mill produces steel from scrap, pig iron and other iron units in their EAF (electric arc furnace). SMU would […]
Steel Market Update’s next Steel 101: Introduction to Steel Making & Market Fundamentals workshop will be held in Starkville, Miss., on Jan. 29-30, 2019. We will be touring the Steel Dynamics Columbus steel mill. The SDI mill produces steel from scrap, pig iron and other iron units in their EAF (electric arc furnace). SMU would […]
Flat rolled steel prices declined over the past week. We saw prices drop by $15 per ton on all products except hot rolled, which was down $5 per ton. Plate prices remained the same with prices essentially rolling over for many customers from October to November. However, plate buyers are warning SMU of maintenance issues […]
Earlier this week, the U.S. Department of Commerce released preliminary license data for July foreign steel data and license data for August. The latest data suggests July imports will rebound from June’s dip to almost reach 3.0 million net tons, and August levels will be in the 2.85 million ton ballpark. Semi-finished imports (slabs/billets) continue […]
Sixty-two percent of those responding to Steel Market Update’s latest market trends questionnaire believe steel prices on the spot market are on the decline. Another 35 percent expect prices to remain the same. Only 3 percent feel steel prices could still move higher. SMU has adjusted its Price Momentum Indicator to Lower, meaning prices are […]
Both Current and Future Sentiment, measured as three-month moving averages (3MMAs) to smooth out the data, are below levels of this time last year, possibly reflecting concerns among steel buyers about the volatile trade situation in the U.S. Data from Steel Market Update’s Steel Buyers Sentiment Index remains at optimistic levels, however, by historical standards. […]
Earlier this week, the U.S. Department of Commerce released the latest license data on foreign steel for the months of July and August. As SMU reported last week, the August trend has been for imports to be at, or above, 3 million net tons. This week the trend suggests August will be closer to 2.9 […]
I have already been to Atlanta and now I am on my way to Minnesota for my introduction to my responsibilities as a trustee for Hamline University, the college I graduated from many years ago. On Saturday, I will jet back to Atlanta to join the SMU team as we finish preparations and get the […]
Flat rolled steel prices moved lower over the past week. Benchmark hot rolled coil dropped to $885 per ton and momentum continues to point toward lower prices on all but plate products. Here is how we see prices this week: Hot Rolled Coil: SMU price range is $860-$910 per ton ($43.00/cwt-$45.50/cwt) with an average of […]
U.S. Steel announced on Thursday that it will invest a minimum of $750 million for asset revitalization at its Gary Works facility in Indiana. “We are pleased to be making this significant investment at Gary Works, which will improve the facility’s environmental performance, bolster our competitiveness and benefit the local community for years to come,” […]
There are big differences in the year-to-date increase of hot rolled coil imports on a regional basis, according to Steel Market Update’s latest analysis of government data. Imports of hot rolled coil into the U.S. as a whole were up by 21.4 percent in June year to date, but the Pacific South was up by […]
The Great Lakes and Gulf dominate as entry points for cold rolled imports. There are big differences in the year to date decreases on a regional basis, according to Steel Market Update’s latest analysis of government data. Imports of cold rolled coil into the U.S. as a whole were down 23.1 percent year to date […]
Canada is considering provisional safeguard measures on seven classes of steel imports to prevent foreign steel shipments from being diverted into Canada as a result of U.S. trade actions. “We know that because of the unfair tariffs imposed by the United States, other countries will be seeking alternative markets for their steel products,” said Canadian […]
This analysis breaks down the imported tonnage of six flat rolled products into the district of entry and the source country. We believe that misinformation (or lack of) about local import volumes is often used to influence purchase decisions. Our intent with this analysis is to describe in detail what is going on in a […]
A couple of months ago, Steel Market Update was speaking in front of a group from the financial community. We were asked, “What do you look for as a sign when prices are about to change direction?” Our answer was a mill price increase announcement. Earlier this week, ArcelorMittal USA announced a $30 per ton […]