Market Data
August 29, 2013
Written by John Packard
We had one of our members ask about the accuracy of the Steel Market Update (SMU) Price Momentum Indicator as we move between Higher, Neutral and Lower Momentum forecasts. Here is a graph of SMU hot rolled pricing (average) and our Momentum forecasts:
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.
Hot-rolled and cold-rolled prices held steady again this week while prices for coated products and plate continued to tick upward.
Domestic raw steel output eased to an 11-week low last week, according to recently released American Iron and Steel Institute (AISI) figures
Some domestic hot-rolled (HR) coil market participants say they expect prices remain stable through the end of 2026. Asked why prices would hold and not slip, sources said they anticipate mills won’t suddenly have much more capacity for spot orders. They also noted that the annual summer doldrums haven’t sent demand into a precipitous decline. They contend that most in the steel industry expected […]
The latest data from Baker Hughes show that oil and gas drilling in the US was steady last week, while it tapered off further in Canada.