Over the weekend, we received a message from trade attorney Lewis Leibowitz regarding the status of the Vietnam circumvention suit. This is the one where the domestic steel mills filed a circumvention suit alleging China is circumventing the duties on cold rolled and CORE (corrosion resistant) steels by sending substrate to Vietnam and having it […]
Our SMU team has been pretty lucky as those of us who live in Florida did not suffer significant damage to our homes. The Florida residents ended up escaping and being essentially unaffected by Hurricane Irma. However, Brett lives in Georgia and he lost power yesterday as a large tree took out the power line […]
The saga continues as we endeavor to escape the wrath of Hurricane Irma. After leaving Hobe Sound, we settled in Gainesville on the campus of the University of Florida. As the hurricane track began to move a little further west, we decided to do the same and headed into the western panhandle of Florida. That […]
I want to recognize the Steel Market Update writers who have been doing stellar work through a grueling work schedule. Last week, it was our conference where we had all hands on deck in order to make sure the conference ran smoothly. This week and this coming weekend (and probably all of next week), the […]
Last Friday, NLMK USA advised customers of their intention of increasing their zinc coating extras by approximately 10 percent. The higher extras are due to a surge in zinc spot costs on the LME. Zinc spot prices reached $1.42 per pound as of the end of trading today (Thursday). We have put together a quick […]
In this report, we examine the latest prices for iron ore, scrap, coking coal and zinc. To put the raw materials analysis into perspective, we begin with Figure 1, which shows the spread between Chicago #1 busheling and hot rolled coil ex works Indiana through Aug. 18, both in dollars/net ton. On this date, Aug. […]
Tomorrow, Monday, Aug. 28, the steel event of the year will kick off in Atlanta. With over 650 steel and manufacturing executives registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the Steel Market Update Steel Summit Conference. This is what the fuss […]
How can domestic mills expect to increase prices when their lead times are so short and foreign steel is still so plentiful? In the monthly steel conference call hosted today by the Heating, Air-conditioning, and Refrigeration Distributors International, HARDI members commented on the contradictions in mill behavior that have left them confused and concerned about […]
Over the last few weeks, the price of zinc has risen to over $1.41 per pound on the London Metal Exchange, and I thought it was time for an update on a series of articles I’ve written on the actual metallic cost of coating steel with zinc. To do the calculation, I use a spreadsheet […]
Zinc prices hit a 10-year high this past week, climbing to $3,000 per metric ton ($1.36 per pound) on the London Metal Exchange on Wednesday. Strong global demand and shrinking inventory boosted prices, as well as a shortage of Chinese zinc. The primary use of zinc is for the production of coated steels such as […]
Zinc prices hit a 10-year high this past week, climbing to $3,000 per metric ton ($1.36 per pound) on the London Metal Exchange on Wednesday. By Monday, zinc had risen to $1.41 per pound. Strong global demand and shrinking inventory boosted prices, as well as a shortage of Chinese zinc. The primary use of zinc […]
In this report, updated July 28, we examine the latest prices for iron ore, scrap, coking coal and zinc. To put the raw materials analysis into perspective, we begin with Figure 1, which shows the spread between Chicago #1 busheling and hot rolled coil ex works Indiana through July 21, both in $/net ton. On […]
Bringing a different perspective to SMU’s Steel Summit Conference later this month will be Lisa Reisman, who will touch on the related topics of copper, zinc and aluminum. Reisman, co-founder and executive editor of MetalMiner, will make her third appearance as a speaker at SMU’s conference at 10:35 a.m. on Tuesday, Aug. 29, as part […]
As a monthly average, prices on all flat rolled steel products recovered in July following a dip in June. The month of July ended with SMU’s Price Momentum Indicator continuing to point higher as the market waits to see if and when the Trump administration will act on Section 232 trade measures that could further […]
On Monday, August 28, the steel event of the year will kick off in Atlanta. With less than four weeks to go and 575 steel and manufacturing executives already registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the Steel Market Update Steel […]
On Monday, Aug. 28, the steel event of the year will kick off in Atlanta. With four weeks to go and 560 steel and manufacturing executives already registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the 7th Steel Market Update (SMU) Steel […]
The following article on the hot rolled coil (HRC) futures markets was written by David Feldstein. As the Flack Global Metals director of risk management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
We ended the month of June with a change in our Price Momentum Indicator from Neutral (we had moved from lower to Neutral earlier in the month) to Higher. With the expectation of Section 232 being implemented by President Trump, we feel prices have only one way to go, up. How long that will last […]
The following article on the hot rolled coil (HRC) futures markets was written by David Feldstein. As the Flack Global Metals director of risk management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
In early June, the price of zinc had nosed down to about $1.10 per pound, raising hopes among buyers of galvanized steel that the mills might consider rolling back their coating extras–the extras mills charge when applying zinc to cold rolled or hot rolled substrate to produce galvanized products. Those hopes were short-lived as the […]
An explanation of the Key Market Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. This will explain the difference between our view of the present situation, which is subjective, and our analysis of trends, which is based on the latest facts available. In the June […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. This will explain the difference between our view of the present situation which is subjective and our analysis of trends which is based on the latest facts available. We now have three […]
Steel Market Update (SMU) has been contacted by end users, distributors and steel mills regarding an article published by another trade publication on Galvalume. The article, which was published on Thursday, May 18, 2017, quoted Keith Medick, president and CEO of Union Corrugating Company, as he made the point that there is not enough light […]
Zinc prices continue to rise, reaching a two week high of $2,644 per tonne on Monday, May 22 on the London Metal Exchange (LME). Analysts attribute the increase to China’s regional crackdown on the steel industry as it seeks to bring mills in line with emission standards, as well as mine closures that are creating […]
Steel Market Update (SMU) had a number of conversations with steel buyers late last week during our trip to Chicago. Benchmark hot rolled prices offers have slipped below $600 per ton with one service center executive discussing a spot offer of $560 per ton coming from one mill (and complaining that they lost of the […]
HVAC wholesalers reported despite “good” demand they are seeing ultra-competitive conditions on the sales of galvanized steel they are attempting to sell into the HVAC (heating, ventilation, air-conditioning) markets. Steel Market Update participates in a monthly steel conference call hosted by HARDI (Heating, Air-conditioning, and Refrigeration Distributors International) for their member companies. The HARDI conference […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. This will explain the difference between our view of the present situation which is subjective and our analysis of trends which is based on the latest facts available. We now have two […]
The month of April began with SMU Price Momentum Indicator pointing toward higher prices and by the second week of the month we had moved our Indicator to Neutral which is where it is now as the month ends. Our 3MMA for the SMU Steel Buyers Sentiment Index appears to be peaking at +74. The […]
Steel Market Update is including the following MetalMiner article about zinc for a number of reasons. The run-up in zinc spot pricing late last year and early this year created a situation where the domestic North American steel mills felt they had no choice but to increase the coating extras used when putting zinc onto […]
The U.S. Department of Commerce released the latest update on foreign steel import license request on Tuesday evening. The data suggest that April will be similar to that of March where license data is at 3.5 million net tons. Both March and the April trend a well above both the 12 month and 3 month […]