Steel mill lead times were basically flat again this week compared to our previous market check, with production times shrinking slightly for hot rolled and cold rolled, and extending for galvanized, Galvalume, and plate.
Sheet prices fell across the board ahead of what many market participants predict will be a strike by the United Auto Workers (UAW) later this week.
Sheet prices have fallen to their lowest point of the year - just below $700 per ton ($35 per cwt) when it comes to hot-rolled coil (HRC).
US steel exports declined in July for a third consecutive month but remained elevated compared to recent years.
Kenwal Steel has hired Dean Kreuzer to the newly created position of vice president of strategy and business development.
Domestic steel production declined for the week ending Sept. 9, the third consecutive drop, according to data released by the American Iron and Steel Institute (AISI) on Monday, Sept. 11.
As the global trading system, which used to be “rules-based,” continues its slide toward the absence (defiance? disregard?) of rules, governments around the world are trying new things.
Domestic heating and cooling equipment shipments shifted down in July, according to newly released data from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).
The LME aluminum three-month price was broadly stable again on the morning of Sept. 8 and was last seen trading at $2,180 per tonne.
We’re just a week away from a potential United Auto Workers (UAW) strike against one, or potentially all three, union-represented automakers. The latest turn of the screw: UAW President Shawn Fain said an offer from Detroit-based General Motors was “insulting.”
US imports look to have fallen to their lowest monthly level so far this year, based on August import license data compiled by the US Department of Commerce.
Steel shipments in the US were down year over year and sequentially in July, according to the latest data from the American Iron and Steel Institute (AISI).
The spot market remains quiet on fears of a potential United Auto Workers (UAW) union strike late next week.
Sheet prices declined again this week amid persistent concerns about a potential strike at union-represented automakers.
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at steelmarketupdate.com, visit the Pricing and Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” Historical survey results are also available under that selection. If you need help accessing the survey results, or if […]
Steel mill lead times were largely unchanged this week, with hot rolled extending slightly and plate falling back marginally.
The overall mill negotiation rate slipped this week, though plate jumped, rising by 25 percentage points, according to SMU's most recent survey data.
We’re roughly a week removed from the 2023 Steel Summit and some of the discussions, both on stage and the the sidelines of the event, remain of critical importance to many in the industry.
Sheet prices have fallen this week, after a small pause last week when prices saw mixed results. Tags have now been largely trending lower since July.
The drop in imports from June to July was not as steep as license applications had suggested, but imports were still down both month on month (MoM) and year on year (YoY).
Leading voices in US the scrap industry discussed the current outlook and future challenges at Steel Summit 2023’s panel on Scrap and Metallics: Navigating the Boom in EAF Sheet Production.
Michigan-based distributor Mill Steel is growing its presence in Ohio.
Three prominent steel analysts proposed their outlooks for next year in the Steel Price Forecast: Boom or Bust in 2024? panel at Steel Summit 2023 in Atlanta.
The Mexican government has placed temporary levies of 25% on inward-bound shipments of steel products from countries with which it does not have a free trade agreement.
The LME aluminum 3-month price moved higher this week wrapping up the week at $2,170 per ton on Aug. 25.
This year, the 13th annual edition of our Summit, we polled more than 1,450 attendees about where prices and demand would be, come August 2024.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, sheet prices abroad, inventory, and what people are talking about in the market. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words.
Sheet prices were mixed this week after trending lower for most of July and earlier in August. SMU’s average hold-rolled coil (HRC) price slipped to $750 per ton.
Though steel prices continue to drop, more buyers are holding off on finalizing transactions.
I’m excited to see pretty much the entire steel industry this week in Atlanta. I’m looking forward to the networking and to learning from our great lineup of speakers. I also what not draw your attention to some highlights from our latest steel market survey. (Full results are here.) Some of these topics will be discussed along the sidelines as well as up on the stage.