Steel Market Update’s Demand Index remains in contracting territory, where it has been for most of the last four months, according to the latest survey data. While the market did react temporarily in response to mill price hikes in mid-June, apparent demand for flat-rolled steel in the US continues to trend down.
The latest SMU Market Survey results are now available on our website to all Premium members.
Sheet prices slipped again, continuing a trend of lower week-over-week tags that began in mid-July.
US service center flat-rolled steel inventories spiked in July with a slowdown in shipments. At the end of July, service centers carried 56.1 shipping days of flat roll supply, according to adjusted SMU data.
We weren’t supposed to see hot-rolled coil prices dip below $800 per ton ($40 per cwt) anytime soon.
We weren’t supposed to see hot-rolled coil prices dip below $800 per ton ($40 per cwt) anytime soon. Or at least that seemed to be the consensus in mid-June after mills rolled out a round of $50-per-ton price hikes, with a second round rumored to be in the works. That second round of price hikes […]
US service center flat-rolled steel supply edged up slightly in June as daily shipments dropped to the lowest rate this year.
By CRU senior analyst, Ryan McKinley Oversupply in most markets of the world is easing. The key trend we are following (and expecting to occur) is further output cuts in China, which should keep many markets more stable than they have been recently. In China, sheet oversupply will not ease in the coming week given […]
Our HRC price is flat this week, and there is a roughly 50/50 split between those who think the $50-per-ton sheet price hikes announced earlier this month will stick and those who think they won’t. I’m not going to weigh in on which side could be right. But it doesn’t appear to have fazed domestic mills, […]
What to make of the latest round of sheet prices hikes: Are they aimed at stopping the bleeding, getting buyers off the sidelines, or actually getting sheet prices back up again? These are serious questions now in a way that they weren’t after U. S. Steel first announced its price hike last Wednesday. That hike […]
There are many great, supportive organizations in the steel and metals industry. One that continues to grow as the industry evolves is the Association of Women in the Metal Industries (AWMI). Founded in 1981, AWMI is an international organization that was established to promote and develop the growth of women in the metal industries. AWMI […]
Flat Rolled = 51.1 Shipping Days of Supply Plate = 46.1 Shipping Days of Supply Flat Rolled US service center flat-rolled steel inventories in April increased in terms of months of supply, according to SMU data. At the end of April, service centers had 2.69 months of flat-rolled steel on hand on an adjusted basis, […]
Galvanized sheet continues to experience stable demand but market sentiment is waning, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the March 22 meeting of its Sheet Metal/Air Handling Council. Bullishness has subsided from sentiment in February. With lead times approaching eight weeks, HARDI members are experiencing tighter inventories and delayed […]
February came in with a bang and went out with one too. We saw two rounds of $50-per-ton sheet price increases early in the month. Then one of $100 per ton. And finally Cleveland-Cliffs came in near the buzzer on Monday with another $100-per-ton price hike. We think that was the last shot of the […]
Nucor Corp. will again keep plate prices unchanged with the opening of its April order book. The steelmaker has now repeatedly maintained its plate tags since its sharp price cut in late November when it lowered plate prices by $140 per ton ($7 per cwt). The Charlotte, N.C.-based steelmaker said the move was effective on […]
Sheet prices rose again this week as a blitz of $50-per-ton ($2.50/cwt) price hikes spurred the market higher. Steel Market Update’s hot-rolled coil price now stands at $825 per ton, up $15 per ton from last week and nearing the highest levels we’ve seen since late July. The difference: HRC prices were on their way […]
It’s always interesting to take a peek behind the curtain. For Michael Cowden, managing editor of Steel Market Update (Hey, that’s us!), it’s a common experience. As a seasoned journalist, Michael is no stranger to asking the tough questions. Multiple times a year he moderates panel discussions, live interviews, hosts workshops, and speaks at various industry functions. […]
SMU polled steel buyers on a variety of subjects on Monday and Tuesday of this week, including current and future steel prices, inventory strategies, supply, demand, and new mill capacity. Rather than summarizing the comments we received, we are sharing them in each buyer’s own words. We want to hear your thoughts, too! Contact becca@steelmarketupdate.com to […]
Sheet prices are up again. I haven’t heard much quibbling with that. Upstream, scrap prices are moving up as they typically do in January. And downstream, we’re seeing service centers raising prices roughly in tandem with domestic mills – or at least holding them steady. No, 2023 is not starting off with a big bang […]
Steel sheet prices have bottomed or soon will, according to most respondents to our latest market survey. We’ve also seen an uptick in expectations about future prices. The chart below provides a quick before/after snapshot of expectations for prices ahead of Thanksgiving and then following price hikes of $60 per ton ($3 per cwt) announced […]
Hot-rolled coil notched its first consecutive price gains since March on the heels of $60-per-ton ($3-per-cwt) price hikes announced last week. Don’t get me wrong. The price increases have not stuck in full. They often don’t after an initial round. But they have put a floor under prices. And the market seems to be inflecting […]
US plate prices fell this week, responding to Nucor’s latest price announcement on Monday, Sept. 19. Price tags remain under pressure and further declines are expected through the fourth quarter as spot demand is likely to remain limited. But few expect Nucor’s latest plate price announcement to generate any immediate business, sources told SMU, speculating […]
US plate prices were unchanged this past week but remain under pressure. Spot demand is limited, with sources noting that Nucor’s efforts to keep prices flat might be short-lived. Recall that Nucor announced it would keep some plate prices flat and decrease certain cut-to-length items as much as $150 per ton ($7.50 per cwt) with the […]
The following article on the hot-rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled Weekly changes in the value of spot HR have continued to drop an average of about $30/net ton but it should […]
Eariler this week, SMU polled steel buyers on a variety of subjects including current and future steel prices, price increase announcements, supply, demand, and new mill capacity. Rather than summarizing the comments we received, we are sharing them in each buyer’s own words. We want to hear your thoughts, too! Contact Brett@SteelMarketUpdate.com to be included […]
A growing number of steel market participants think that hot-rolled coil (HRC) prices will fall below $1,000 per ton ($50 per cwt). An increasing number also think that prices won’t hit bottom until the third quarter at the earliest. Check out the charts below. SMU’s HRC price was at $1,190 per ton ($59.50 per cwt) […]
Flat Rolled = 51.4 Shipping Days of Supply Plate = 48.3 Shipping Days of Supply Flat Rolled US service center flat rolled inventories declined slightly in April in terms of shipping days of supply, while the amount of material on order rose again. At the end of April, service centers carried 51.4 shipping days of […]
Today we are sharing the full proposed agenda for the 2022 SMU Steel Summit Conference. As you will note there are a few programs where we are in negotiations with speakers or working on making sure the program is fresh for those who have attended our conference in the past. There are several themes we […]
Today we are sharing the full proposed agenda for the 2022 SMU Steel Summit Conference. As you will note there are a few programs where we are in negotiations with speakers or working on making sure the program is fresh for those who have attended our conference in the past. There are several themes we […]
Flat Rolled = 52 Shipping Days of Supply Plate = 44.4 Shipping Days of Supply Flat Rolled US service center flat rolled inventories edged down further in March. Inventories did not fall as much as expected, as attitudes about inventory changed with the reversal of pricing trends. At the end of March, service centers carried […]