Steel Market Update has adjusted our SMU Price Momentum to Neutral from Higher on all products except plate, which remains at Higher for the moment. We chose to move at this time due to weakness we are seeing in the cold rolled and coated steel markets, with mild price erosion already evident in certain markets. […]
On Friday, July 6, the U.S. Department of Commerce released Final Census Data on foreign steel imports for the month of May 2018. May imports totaled 2,929,652 net tons, which was 824,335 tons less than the prior month. The import license data collected through July 6 shows June foreign steel imports to be on pace […]
Flat rolled steel imports into the United States continue to decline. The three-month moving average (3MMA) for rolled product imports into the U.S. year over year was down by 11.3 percent as of June, according to Steel Market Update’s latest analysis of Commerce Department license data. This is an early look at June’s import volume […]
My understanding is the salespeople at the former CSN Terre Haute, Ind., steel mill will remain with Steel Dynamics. SDI did something similar when they purchased what is now SDI Columbus, Miss. I have heard that Paul Navetta is the sales manager at SDI Terre Haute. I also understand that Jerry Richardson will remain with […]
The data from Steel Market Update’s latest market trends questionnaire shows mixed feelings when it comes to Current vs. Future Sentiment. The SMU Steel Buyers Sentiment Index measures how buyers and sellers of flat rolled and plate steels feel about their companies’ ability to be successful both now (Current) and three to six months into […]
Steel executives canvassed by Steel Market Update this week reported that demand remains strong, though they are less confident about conditions later in the year. Many expressed concern about the tariffs and trade issues unfolding in Washington, difficulty with trucking and logistics, and the impact of high steel prices on their customers. Following are some […]
I will be in my office on Monday and Tuesday of this week before traveling to Maine to speak to the Chain Link Fence Manufacturers Institute on Thursday. I have a very busy schedule over the next couple of months leading up to our 8th SMU Steel Summit Conference on Aug. 27-29. I hope I […]
The following report is normally provided to data providers and Premium level members of Steel Market Update: Steel Market Update began collecting flat rolled and plate inventories information from our participating service centers beginning on Monday of this week. The following is our “Flash” report, which is derived from at least 50 percent of the […]
Ryerson Holding Corp. has complete the acquisition of Central Steel & Wire Co. Central Steel & Wire will be a wholly-owned subsidiary of Ryerson and will continue to operate under its brand name. “The inclusion of Central Steel & Wire into the Ryerson family of highly valued industrial metal distribution and processing companies enhances Ryerson’s […]
Good evening from another sunny and warm day in London. Diana and I have been here since Wednesday morning of last week. We spent two full days at the headquarters of the CRU Group and another two and a half days sightseeing around London as this is our first trip to England. Having spent a […]
On Tuesday, the U.S. Department of Commerce reported preliminary steel import license data for May at 2,886,606 net tons, a decrease of 23 percent from the April high and a decrease of 17 percent compared to the same month last year. Updated June license data was also released; taking the daily license rate and spreading […]
Steel Market Update canvassed steel buyers over the past two days and found that flat rolled prices are mixed and plate prices are rising. Two of our flat rolled indices increased over the prior week, and two of them declined, while the plate index rose. Here is how we see prices this week: Hot Rolled […]
We are in the middle of a U.S. holiday week, and the Fourth of July on a Wednesday gave plenty of steel buyers and sellers an excuse for taking the week off, or at least an extended long weekend. Benchmark hot rolled prices were seen as being modestly lower based on the responses received from […]
What are the issues affecting price negotiations? What is the direction of spot pricing? Steel Market Update canvassed the market this week to gather executives’ perspectives. Following are some insightful comments: Q: What are you seeing as the biggest issue affecting price negotiations with your suppliers? A: “Supply is constrained. That is the biggest issue.” A: […]
U.S. Steel has promoted Daniel M. Killeen to the position of General Manager Gary Works effective immediately. Killeen will be responsible for the day-to-day operations of U.S. Steel’s largest integrated steelmaking facility. Killeen joined U.S. Steel in 1996 as a Management Associate at Gary Works. He went on to work in a series of increasingly […]
JSW Steel plans to pump $500 million into its newly acquired Acero Junction steel mill in a two-phase investment. The first $250 million includes the cost of acquisition, the revamp and restart of the electric arc furnace and slab caster, and modernization of the hot strip mill. The second phase will be dependent “upon the […]
There are big differences in the year-to-date increase of coiled plate imports on a regional basis. Last week, we published new regional import reports for HRC, CRC and HDG. This week we are publishing new reports for coiled and cut-to-length plate based on the new format. SMU produces import reports by product at the national […]
There are big differences in the year-to-date increase of cut-to-length plate imports on a regional basis. Last week, we published new regional import reports for HRC, CRC and HDG. This week, we are publishing reports for coiled and cut-to-length plate based on the new format. SMU produces import reports by product at the national level […]
The data from Steel Market Update’s latest market trends questionnaire shows some erosion in Future Sentiment. The SMU Steel Buyers Sentiment Index 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. Buyers and sellers of […]
The Commerce Department’s procedure for filing requests to have products excluded from the Section 232 steel tariffs has been called confusing and burdensome by many companies, some of which have been thwarted in their attempts to file. Applications can be rejected for something as simple as an inaccurate Harmonized Tariff Schedule (HTS) code. In testimony […]
On Tuesday, the U.S. Department of Commerce reported foreign steel import license data for the first 19 days of June. The data is indicating to Steel Market Update a significant drop in imported foreign steel. Taking the daily license rate and spreading it across the 30 days of June, we see the month trending toward […]
I spent all day on Wednesday of this week in the Pittsburgh offices of the CRU Group. I was impressed with the people working out of Pittsburgh and was even more impressed with the size and scope of the company here in the United States and across the world. The company indexes all kinds of […]
Steel Market Update and the CRU Group are pleased to announce the SMU Steel Summit Conference will include a fireside chat between CRU Group Executive Chairman Robert Perlman and SMU President & CEO John Packard. Since Steel Market Update has been acquired by the CRU Group out of London, we thought it appropriate that Steel […]
Steel Market Update and the CRU Group are pleased to announce the SMU Steel Summit Conference will include a fireside chat between CRU Group Executive Chairman Robert Perlman and SMU President & CEO John Packard. Since Steel Market Update has been acquired by the CRU Group out of London, we thought it appropriate that Steel […]
Twice each month, Steel Market Update conducts a review of the flat rolled and plate steel industries. We do this through a web-based questionnaire, which is sent to approximately 640 individuals associated with either the flat rolled or plate steel industries. The individuals invited are from manufacturing, steel distribution, steel mills, trading companies and toll […]
I got a note from one of our readers who pointed out that Sept. 18 & 19 are Holy Days on the Jewish calendar. These were the days selected for our first SMU 201: Intro to Advanced High Strength & Other New Steels workshop, which is going to be held at AK Steel Research and […]
Earlier this week, the Department of Commerce reported license data for the month of June 2018. Based on licenses through June 12, the trend is for June foreign steel imports to come in around 2.1 million net tons. If the pace of actual receipts matches the pace of the licenses seen so far this month, […]
I am excited for you, our customers. I have been working closely with the CRU Group, and our members will begin to see some subtle changes to the articles we write. One will be the use of CRU data on such items as our Foreign vs. Domestic Price Spread articles, which we will publish in […]
Flat rolled and plate steel prices remained essentially unchanged over the past seven days. As one steel buyer commented to Steel Market Update last week, the steel mills seem to be content at the current price levels and they don’t want to be seen as getting “greedy.” This doesn’t mean they won’t try to get […]
Steel Market Update canvassed flat rolled and plate steel buyers over the past two days and discovered hot rolled coil is by far the strongest product, followed by demand for plate. Both are connected to the energy markets, which are very strong right now. Our sources are also telling us construction, especially commercial construction, is […]