Despite bad news on the coronavirus front, as authorities work to keep a surge in COVID-19 infections from derailing the economy once again, sentiment in the steel industry continues to trend positive. Steel Market Update’s Steel Buyers Sentiment Indexes are near levels comparable to this time last year, prior to the pandemic. Since early April […]
While industry sentiment improved at a double-digit rate in May, as measured by Steel Market Update’s Sentiment Indexes, June has seen more moderate changes in optimism. Current Sentiment increased by a further 7 points in the past two weeks, but Future Sentiment actually declined by 3 points. This leveling of sentiment most likely reflects ongoing […]
Steel buyers’ attitudes, as measured by Steel Market Update’s Sentiment Indexes, have improved steadily since their low point in the first week of April and are now approaching pre-coronavirus levels once again. Industry executives are clearly feeling more positive about their prospects as the economy begins to normalize. Current Sentiment has improved by 40 points […]
Steel buyers’ attitudes appear to be mirroring the economy—improving in painfully slow increments as coronavirus restrictions ease and more companies get back to work. Both Current and Future Sentiment as measured by Steel Market Update saw a 14-point improvement in the past two weeks and are up more than 30 points from the lows recorded […]
Wholesalers of HVAC products for the construction market report surprisingly strong sales given the coronavirus situation, but also concerns about construction demand in the second half when current work is completed and there are fewer new projects in the pipeline. In a conference call this morning, members of the Heating, Air Conditioning & Refrigeration Distributors […]
Steel buyers’ attitudes have improved this month as coronavirus restrictions have eased in some areas and companies have begun to get back to business. Steel Market Update asked steel buyers how they view their company’s current prospects for success, as well as their chances for success three to six months in the future. The Current […]
The United States is beginning to go back to work. Automotive plants are scheduled to begin opening this week. The U.S. is working with Mexico to ensure automotive suppliers in Mexico are deemed “essential businesses” and return to work. From my perch here in Florida, traffic has returned to normal, restaurants are open (50 percent […]
Having lived through the difficult month of April, steel buyers remain pessimistic about current business conditions, but more hopeful about the future. Steel Market Update asked steel buyers how they view their company’s current prospects for success, as well as their chances for success three to six months in the future. The Current Sentiment reading […]
Steel Buyers Sentiment remained in pessimistic territory in mid-April as steel demand was stifled by the government restrictions on commerce to control the spread of COVID-19. Future Buyers Sentiment was notably more optimistic, however, which suggests service center and manufacturing executives anticipate better days ahead. Steel Market Update asked steel buyers how they view their […]
Steel Buyers Sentiment remained in pessimistic territory in mid-April as steel demand was stifled by the government restrictions on commerce to control the spread of COVID-19. Future Buyers Sentiment was notably more optimistic, however, which suggests service center and manufacturing executives anticipate better days ahead. Steel Market Update asked steel buyers how they view their […]
Last week, Steel Market Update conducted an analysis of the flat rolled and plate steel markets as we reached out to more than 500 individuals uniquely qualified to provide insights into these markets. What we found is an almost universal picture of a steel economy in a tailspin. Through our steel survey, SMU has seen […]
Last week, Steel Market Update conducted an analysis of the flat rolled and plate steel markets as we reached out to more than 500 individuals uniquely qualified to provide insights into these markets. What we found is an almost universal picture of a steel economy in a tailspin. Through our steel survey, SMU has seen […]
Steel Market Update’s monthly analysis of Key Market Indicators has done a good job of anticipating the ups and downs of the steel market in the past, but the economic data currently available seriously lags the impact of the coronavirus on the economy. Only 3 of 36 indicators in this month’s report have even begun […]
Steel Buyers Sentiment—how steel executives view their prospects for success—has continued to deteriorate as the market struggles with the coronavirus restrictions. Current sentiment dipped into pessimistic territory to a reading of -8 this week, the lowest level since November 2010. It is also the first time we have entered the pessimistic portion of our index […]
Today we took our Price Momentum Indicator on flat rolled steel to Lower from Neutral. We are clearly seeing an erosion in pricing, which is expected to continue over the near term. The economy is heading into recession. Key indicators are pointing toward a slowdown in construction as states and local municipalities mandate construction projects […]
Today we took our Price Momentum Indicator on flat rolled steel to Lower from Neutral. We are clearly seeing an erosion in pricing, which is expected to continue over the near term. The economy is heading into recession. Key indicators are pointing toward a slowdown in construction as states and local municipalities mandate construction projects […]
There is no way to plan for this… The stock market was up 2,100+ points today. I don’t know anyone personally who has contracted the COVID-19 virus. My kids are safe, albeit without incomes for the time being. Gas prices are below $2.00 and headed lower. The weather in Florida is perfect, and technically I […]
There is no way to plan for this… The stock market was up 2,100+ points today. I don’t know anyone personally who has contracted the COVID-19 virus. My kids are safe, albeit without incomes for the time being. Gas prices are below $2.00 and headed lower. The weather in Florida is perfect, and technically I […]
Coronavirus fears have taken a major toll on how steel executives view their prospects for success. Steel Buyers Sentiment, as measured by Steel Market Update, suffered the sharpest one-week decline in the index’s 11-year history. Sentiment plunged by 45 points, from a Current Sentiment reading of +58 down to +13, and a Future Sentiment reading […]
Coronavirus fears have taken a major toll on how steel executives view their prospects for success. Steel Buyers Sentiment, as measured by Steel Market Update, suffered the sharpest one-week decline in the index’s 11-year history. Sentiment plunged by 45 points, from a Current Sentiment reading of +58 down to +13, and a Future Sentiment reading […]
The new normal for me is talking to an industry executive on the phone and listening to the kids playing in the background…. We had a 45-point drop in both the Current and Future SMU Steel Buyers Sentiment Index this week (article is at top of tonight’s issue). This is the largest one-week change in […]
The new normal for me is talking to an industry executive on the phone and listening to the kids playing in the background…. We had a 45-point drop in both the Current and Future SMU Steel Buyers Sentiment Index this week (article is at top of tonight’s issue). This is the largest one-week change in […]
Steel buyers sentiment, as measured by Steel Market Update, has moved up and down within a small, three-point range since the beginning of the year. Both Current and Future Sentiment registered a very slight uptick in the past few weeks and remain in optimistic territory well above the average of +47 to +51 in 2019. […]
Looking back at the numbers for February, flat rolled steel prices declined from January, with the benchmark price of hot rolled dipping to a monthly average of $576 per ton. Steel Market Update’s Current and Future Steel Buyers Sentiment Indexes showed some erosion, likely as a response to the weak steel prices and concerns over […]
Key Market Indicators show that the improvement in market trends in December and January translated to a jump in the present situation in February. This report is designed to be a big picture summary of data on which we have reported in detail during the month. In it we summarize 36 data streams that describe […]
Steel buyers sentiment, as measured by Steel Market Update, has remained relatively steady at a fairly optimistic level since the beginning of the year. But both Current and Future Sentiment have registered a very slight decline in the past few weeks. SMU’s Current Sentiment Index registered +56 this week, down from +63 at this time […]
Earlier today I moved our Price Momentum Indicator to Lower from Neutral. I explained my reasoning in an article in tonight’s issue. What happens should one of the steel mills announce a price increase within the next couple of weeks? With scrap poised to move higher, and lead times being decent at most of the […]
Steel buyers remain optimistic about their prospects for success, but perhaps slightly less so than in mid-January. Steel prices have seen modest declines since then, along with headlines on presidential impeachment and a deadly virus in China adding to worries about the economy. Steel Market Update’s Current Sentiment Index registered +61, down from +63 two […]
Key Market Indicators show that the improvement in market trends that occurred in December continued into January. This report is designed to be a big picture summary of data SMU has reported in detail during the month. It summarizes 36 data streams that describe the state of the steel market and provide forward guidance for […]
Steel buyers sentiment continued to improve through mid-January with Steel Market Update’s Current Sentiment Index registering +63, its highest reading since November 2018. Sentiment has been on the rise since October when it hit a low of +26, its most pessimistic reading since June 2013. (Historical low was in March 2009 when it hit -85.) […]