Steel Products
SMU Service Center Inventories for August
Written by Tim Triplett
September 17, 2019
Steel Market Update’s analysis of flat rolled and plate inventories and shipments, reported earlier this week to data providers and Premium subscribers, shows flat rolled inventories of 55.8 days of supply, and plate inventories of 52.1 days, as of the end of August. Service center flat rolled inventories remained elevated, while plate saw a reduction in supply last month to the lowest level seen all year.
Steel Market Update surveys key data providers each month to gather the latest information on steel sheet and plate inventories. The results are summarized in the SMU Service Center Inventories Report, which is distributed to Premium subscribers around the 10th business day of each month. Data providers also receive a Flash Report with preliminary data about a week prior to other subscribers.
SMU’s Service Center Inventories Report includes:
• Total inventory levels from the data providers
• Total monthly shipments by the data providers
• Shipping days of supply
• Months of supply on hand
• SMU Inventories Report Analysis, which includes expert commentary on the month-to-month changes in flat rolled and plate inventories, with forecasts based on industry pricing trends and other market factors.
{loadposition reserved_message}
Data providers also receive additional information on the average daily shipping rate, tons on order, shipping days of supply on order, percentage of inventory on order, as well as the percentage of inventory committed to contracts vs. available to the spot market.
For more information on how to become a data provider or how to upgrade to a Premium subscription and qualify to receive the inventories report each month, contact Paige Mayhair at 724-720-1012 or email Paige@SteelMarketUpdate.com.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products
Active rig counts stable in US and Canada
US drill rig activity saw a slight increase from last week but continues to hover near multi-year lows. In Canada, rig counts dipped last week but near one of the highest levels recorded in the past seven months.
Nucor (officially) holds plate prices steady again
Nucor said it would keep plate prices unchanged in a letter to customers on Wednesday. The Charlotte, N.C.-based steelmaker in addition said it was opening its November order book for plate. The company did not specify what its plate price was. It has officially kept prices flat since cutting them by $125 per short ton (st) on July 1.
Worthington Enterprises taps Hayek as president, CEO
Worthington Enterprises has named Joseph Hayek as the company’s next president and CEO, effective Nov. 1. He will replace Andy Rose, who is retiring.
AISI: Steel shipments rose month over month in August
Domestic steel shipments increased month over month but slipped on year in August.
CRU: US longs prices remain mostly flat in October
CRU Senior Steel Analyst Alexandra Anderson shares insight into the current market for long steel products.