SMU Data and Models
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SMU Survey: Demand Growth Picking Up Steam
Written by John Packard
May 11, 2014
For the first time since Steel Market Update began surveying the flat rolled steel industry, a majority of our respondents are reporting demand as “improving.” As you can see by the timeline shown in the graphic below, the optimistic trend for demand growth began to pick up steam during late 1st Quarter 2014 and momentum has been building ever since. In the most recent survey, which was conducted this past week, 52 percent of all steel buyers and sellers of flat rolled steel responding reported demand as improving.
During the questionnaire process we split respondents into their appropriate market segment and then check to see if our overall demand results are limited to one particular segment (manufacturing or distribution). In last week’s survey we found 53 percent of service centers reporting that their end user customers are releasing more steel this year compared to last year at this time.
Manufacturing companies have been reporting better demand on their products for a number of months going tack to February 2014. Manufacturers reported demand as increasing marginally (55 percent) or increasing substantially (4 percent) while only 34 percent reported demand as remaining the same and 7 percent told SMU during the survey process that demand would declining marginally on their products over the next 3 months.
Below is a longer term view of manufacturing demand responses.
The graphics shown are part of a much larger Power Point presentation which is provided to our Premium Level members and is available to them on our website.
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John Packard
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SMU’s August at a glance
SMU’s Monthly Review provides a summary of important steel market metrics for the previous month. Our August report includes data updated through August 30th.
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SMU market survey results now available
SMU’s latest steel buyers 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.”
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SMU survey: Lead times edge higher for sheet
Current steel mill lead time averages are a few days longer than levels seen one month prior, but remain near historical lows for both sheet and plate products.
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SMU survey: Steel Buyers’ Sentiment Indices surge
Both our Current and Future Indices are now up to multi-month highs, indicating continued optimism among steel buyers.
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SMU survey: Mills’ flexibility on prices up slightly
Steel buyers found mills slightly more willing to negotiate spot prices this week, according to our most recent survey data. Though this negotiation rate has ticked up vs. our previous market check, overall rates have been trending downward since July’s highs.