Flat rolled and plate steel prices continue to show signs of stability as the market absorbs the most recent decision on Section 232 exclusions (countries) and awaits decisions about individual product exclusions. Steel Market Update continues to reference our SMU Price Momentum Indicator as being at Neutral, but I want to warn our readers that […]
Steel Market Update downshifted its price momentum indicator from higher to neutral in late April as steel buyers reported stability in most products and prices appeared to have plateaued, at least in the short term. At month’s end, hot rolled was selling for about $873, cold rolled for just over $1,000, galvanized for around $1,100, […]
It’s May 1st and a new month has begun. This month is going to be an important one for Steel Market Update and our readers. We will be sending out a link to a questionnaire as we strive to improve our product for our members. We are trying to learn more about who you are, […]
Yet another mixed week as the flat rolled and plate steel markets wait for the government to decide what to do next… It’s tough to be a steel buyer when the laws of supply and demand are no longer in sync with the actual market. Hot rolled prices were mixed although the spread between Steel […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: Product Exclusions—The Latest No objections to product exclusions had been posted on the regulations.gov website as of April 29. The BIS regulations require objections to be submitted to BIS within 30 days after a request has been posted. […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: Product Exclusions—The Latest No objections to product exclusions had been posted on the regulations.gov website as of April 29. The BIS regulations require objections to be submitted to BIS within 30 days after a request has been posted. […]
Our apologies. On Thursday we used inaccurate import license data and the article we wrote was totally incorrect. Here is the corrected version with license data as of Wednesday, April 25. April 2018 licenses are suggesting the month will end with 3.9 million net tons of foreign steel imports. Of those, almost 1 million net […]
The number of companies – especially service centers – reporting they have been on allocation or controlled order entry has dwindled over the past couple of weeks. Many companies are reporting extended lead times or an abundance of late deliveries, but no full allocations with their suppliers. The one exception being plate companies, where almost […]
The number of companies – especially service centers – reporting they have been on allocation or controlled order entry has dwindled over the past couple of weeks. Many companies are reporting extended lead times or an abundance of late deliveries, but no full allocations with their suppliers. The one exception being plate companies, where almost […]
“Too many plates spinning right now to try and peg a price direction. The wrong tweet at the wrong time could throw all your planning out the window,” said one manufacturing company to Steel Market Update earlier today, explaining his take on the market. Steel buyers are seeing stability in most products with the possible […]
As a group, flat rolled steel buyers are of the opinion that prices on hot rolled, cold rolled and coated products have plateaued over the near term. However, to a person, the buyers are waiting for May 1st to arrive and then see how President Trump, USTR Robert Lighthizer and the Department of Commerce handle […]
Metals Service Center Institute data shows that service center shipments in March were slightly less than the seasonal norm. Daily shipments in March were down by 0.8 percent from the February result. On average since 2009, March shipments have increased by 0.3 percent; therefore, these latest numbers were seasonally slightly worse than the historical average […]
Another hectic week in the flat rolled and plate steel markets. Buyers and sellers of steel are all waiting to see what calamity awaits when the clock ticks 12:01 AM on May 1. That is when the Section 232 country exclusions are set to expire, according to the deadline set by President Trump. What he […]
Flat rolled steel prices were once again “mixed” for this past week. Platts reported hot rolled coil prices as being lower, while their cold rolled, galvanized rose and plate remained the same. Steel Market Update saw HRC prices as being up $10 as was our plate pricing. Cold rolled remained the same, while coated products […]
I was asked if plate price momentum was also at neutral as we had just adjusted our flat rolled price momentum indicator away from higher to the neutral designation. To be honest, we haven’t actually incorporated plate into having its own index and it probably needs one. Plate prices don’t always move in sync with […]
Nucor Corp.’s first quarter 2018 consolidated net sales increased 9 percent from the previous quarter to $5.57 billion. Total tons shipped jumped 6 percent to 6.967 million tons. Consolidated net earnings were $354.2 million. Earnings in the steel segment improved in the first quarter due to higher steel prices and an 8 percent increase in […]
Flat rolled steel prices appear to have reached a plateau, at least on a temporary basis, according to steel buyers who reported mill spot pricing to Steel Market Update this week. Don’t let our headline fool you or lull you into complacency–steel mills are firm with their steel price offers and there has been very […]
Service center shipments of carbon plate increased in March, while shipments of flat roll and tubular products declined, compared with the same month last year, according to the Metals Service Center Institute’s March Metals Activity Report. Overall, service center shipments saw an improvement in March from the prior month. U.S. service centers shipped 3.596 million […]
Steel shipments by Canadian service centers in March totaled 435,600 net tons, up 13.6 percent from February, and up 3.4 percent from March 2017, reports the Metals Service Center Institute (MSCI). This is the highest monthly shipment level seen since June 2015 when 437,000 tons were shipped from Canadian service centers. On a daily basis, […]
For the ultimate prognosticators out there, individual tax returns were due today (April 17) by midnight. The IRS has had computer issues today and has extended the deadline to April 18 at midnight. The Metals Service Center Institute inventories and shipment article in tonight’s issue will be the last one Steel Market Update will produce. […]
U.S. steel exports in February totaled 805,353 net tons (730,605 metric tons), down 3.1 percent from the month before, and down 2.7 percent from February 2017. Total exports have averaged around 820,000-840,000 tons over the last few months. The total February export figure is above the three-month moving average (average of December 2017, January 2018 […]
Flat rolled and plate steel prices were mixed this past week. Benchmark hot rolled price averages ranged from a low of $854 per ton (SteelBenchmarker) to a high of $882 per ton (Platts) with Steel Market Update reporting our average last week as $870 per ton, unchanged from the week prior. Cold rolled averages ranged […]
As Steel Market Update analyzed the inventory data received from flat rolled steel distributors, we found the number of months of supply that steel service centers are carrying was lower at the end of March than what we reported at the end of February. With 96 percent of our data providers reporting, the number of […]
This Steel Market Update 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 regional import volumes are often used to influence purchase decisions. Our intent with this analysis is to describe in detail what is going […]
U.S. demand for steel sheet products expanded slowly through February, according to Steel Market Update’s analysis of data from the American Iron and Steel Institute (AISI) and the U.S. Department of Commerce. Apparent supply is a proxy for market demand. Demand momentum for sheet products in total was negative in the three months through February, […]
Steel Market Update’s new analysis of sheet, plate, long and tubular product imports and their 18 subcategories is still a work in progress, but it offers a timely means to examine the effects of the Section 232 legislation on the market. Table 1 shows total supply to the market in three months through February and […]
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 […]
Flat rolled steel prices appear to have hit a lull as prices have remained relatively range-bound compared to last week. Steel Market Update spent the past two days canvassing steel buyers at manufacturing companies, distributors, wholesalers and steel mills. We report on what steel buyers had to say to us in a separate article in […]
Have flat rolled and plate steel prices peaked? Opinions vary widely among Steel Market Update’s sources. We spent all day today working on gathering flat rolled and plate pricing information. In the process, we also collected comments from steel buyers as to whether they felt steel prices have “peaked” or if there is more room […]
Have flat rolled and plate steel prices peaked? Opinions vary widely among Steel Market Update’s sources. We spent all day on Tuesday working on gathering flat rolled and plate pricing information. In the process, we also collected comments from steel buyers as to whether they felt steel prices have “peaked” or if there is more […]