Looking back at the key indicators for the month of March, steel prices saw a modest increase following mill price increase announcements in January and February. The benchmark price for hot rolled averaged $698 per ton, according to SMU data, up $16 from February, but flat with the price in January. Prices for cold rolled […]
April saw steel prices lose momentum as hot rolled dipped to an average of $662, cold rolled to $803 and galvanized G90 to less than $900 per ton. Even plate, which has been in tight supply, has now moderated to around $964 per ton from prices near or above $1,000 earlier in the year. Steel […]
Steel Market Update’s Steel Buyers Sentiment Index has registered little change so far this year, even as steel prices have seen a small uptrend. The goal of the index is to measure how buyers and sellers of steel feel about their company’s ability to be successful today (Current Index), as well as three to six […]
Declining steel prices may have turned around following price increase announcements from the mills, but there’s no sign yet of a similar uptick in steel buyers’ sentiment. Steel Market Update’s Steel Buyers Sentiment Index, which has been generally trending downward for the past year, saw another slight dip in early March. The goal of the […]
It is now the beginning of March and time to take a look back at the month of February to see what happened to pricing and trends that impact pricing. The SMU Pricing Momentum Indicator for flat rolled steel was adjusted to higher and our SMU Steel Buyers Sentiment Index rose when looked at as […]
Steel Market Update is sharing this Premium content with Executive-level subscribers in this issue. For more information on upgrading to a Premium-level membership, email info@SteelMarketUpdate.com Key market indicators were strong in March and the trends have improved since January. This report is designed to provide a big picture summary of data we have covered in […]
Industry sentiment remains well below levels of a year ago, as measured by Steel Market Update’s Steel Buyers Sentiment Index. While still at a healthy level and solidly within the optimistic range, sentiment is clearly being tempered by the many market uncertainties. Now that it appears steel prices have hit bottom and may be on […]
Steel Market Update’s Steel Buyers Sentiment Index has seen little change since the beginning of the year as the market seeks a sense of direction. While still well within the “optimistic” range, the index has been on a downward trajectory for months. SMU is consistantly seeing both our Current Sentiment Index as well as our […]
Key Market Indicators in January, indicators of the present situation, remained strong, but trends deteriorated to the weakest level in two years. This report summarizes 36 data streams that we believe critically describe the state of and provide forward guidance for the steel market. Due to the government shutdown, 13 of the 36 indicators were […]
Steel Market Update’s Steel Buyers Sentiment Index, which has been on a downward trajectory for months, has shown no signs of changing direction so far in 2019. The SMU Index continues to be well within the “optimistic” range, but is not as high as what we saw one year ago and is flat compared to […]
Steel Market Update’s Steel Buyers Sentiment Index began the year with another slight dip in optimism, as measured by both the Current Sentiment and the Future Sentiment three-month moving averages. The goal of the index is to measure how buyers and sellers of steel feel about their company’s ability to be successful today (Current Index), […]
The year ended on a cautionary note with steel demand, prices and buyers’ sentiment showing downward momentum in December. Prices for flat rolled products continued their fourth-quarter declines with hot rolled dipping to $754, cold rolled to $865 and galvanized to $931 in December. Plate is the notable exception, holding steady around $1,000 per ton, […]
The SMU Steel Buyers Sentiment Index ended the year on a “down” note as our Current Sentiment Index, as measured this week as a single data point, was the lowest reading we have seen over the past two years. When viewed as a three-month-moving average, which helps smooth out the data and provide a clearer […]
About 60 percent of respondents to Steel Market Update’s market trends questionnaire feel their chances for success are good, if not excellent, given the current business conditions and their views of the next three to six months. Nearly all the rest consider their prospects only fair. Uncertainty on the trade and economic fronts, and perhaps […]
It has been a busy week for Steel Market Update. I spoke at the HARDI annual conference in Austin, Texas, on Sunday and I was in Atlanta on Tuesday evening and Wednesday working with our web developers. I am in the office on Friday. Next week I will be in Toledo, Ohio, on Monday through […]
November saw steel prices continue to decline, with benchmark hot rolled dipping below $800 per ton, cold rolled below $900 per ton, and galvanized below $1,000 per ton. Plate continued to hold its own at over $1,000 per ton as mills kept customers on allocation while they worked to meet strong demand. Steel Market Update […]
The attitudes of steel buyers and sellers, as measured by this week’s SMU Steel Buyers Sentiment Index questionnaire, show mixed feelings in the marketplace following the midterm elections. Current Sentiment was an impressive +65 measured as a single data point. Future Sentiment dropped -7 points to +58. Both are well within the “optimistic” side of […]
Steel buyers can be fickle people. They are tasked with keeping their company in product, and that those purchases be competitively priced at the time they are used. This is a daunting task when markets ebb and flow, and even more difficult when the government decides to become a major player in determining who will […]
The SMU Steel Buyers Sentiment Index saw both the current and future indices as slightly more optimistic than what Steel Market Update reported during the middle of October. Current Sentiment was measured at +62, up +3 points from our last analysis. Future Sentiment at +65 improved by +12 points from what we reported two weeks […]
Except for plate, which held its own at around $1,000 a ton, steel prices generally weakened further in October, continuing a decline that began this summer. Steel Market Update data in the table below shows that the benchmark hot rolled coil price dipped below $800 per ton after sliding by about $45 during the month. […]
The attitudes of steel buyers and sellers, as measured by this week’s SMU Steel Buyers Sentiment Index questionnaire, are slightly less optimistic than they were at the beginning of October as the market waits for a turnaround in the decline in steel prices. The goal of the index is to measure how buyers and sellers […]
The attitudes of steel buyers and sellers, as measured by this week’s SMU Steel Buyers Sentiment Index questionnaire, are slightly more optimistic than they were last month. The goal of the index is to measure how buyers and sellers of steel feel about their company’s ability to be successful today (Current Index), as well as […]
The SMU Steel Buyers Sentiment Index has been treading water, albeit at optimistic levels, for the past six months. However, the attitudes of buyers and sellers about conditions in the steel market might be described as anywhere from cautious to tepid, judging by the comments provided in Steel Market Update’s latest Steel Buyers Sentiment Index […]
The SMU Steel Buyers Sentiment Index has been treading water, albeit at optimistic levels, for the past six months. However, the attitudes of buyers and sellers about conditions in the steel market might be described as anywhere from cautious to tepid, judging by the comments provided in Steel Market Update’s latest Steel Buyers Sentiment Index […]
First, I must warn steel buyers that the USW may be losing patience with U.S. Steel and ArcelorMittal USA. We are monitoring the individual locals and we will report when we think something is going to break. The question right now is how long a leash is the union offering? As I said the other […]
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, […]
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. […]
Data from Steel Market Update’s latest market trends questionnaire shows industry sentiment—while still high by historical standards—wobbling a bit, mostly likely over concerns about the uncertain trade situation in the U.S. SMU’s Current Steel Buyers Sentiment Index measures how buyers and sellers of flat rolled and plate steel feel about their company’s ability to be […]
Data from Steel Market Update’s latest market trends questionnaire shows current industry sentiment stablizing after a bit of a swoon seen earlier this year due to the uncertainty related to the Section 232 tariffs and surprises regarding exclusions (or lack thereof). From a historical perspective, current sentiment remains at highly optimistic levels, however. SMU’s Steel […]
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 […]