SMU Data and Models
Don’t Just Read SMU’s Steel Data, Help Shape it - Join our Survey!
Written by Brett Linton
January 31, 2022
SMU continues to hear that domestic HR prices are moving lower, in particular for large orders. Are mills trying to keep lead times above three weeks, are we going back to a cost plus model on the EAF side, or is it something else entirely?
This isn’t 2008-09 or even 2014-15. The music hasn’t stopped on demand. But new capacity is slowly but surely coming online amid high inventories and import volumes. The big question is how far do prices fall and how long does that fall take.
How do things look from your company’s perspective? Make sure your voice is heard by participating our survey. Contact Brett@SteelMarketUpdate.com for more information.
Brett Linton
Read more from Brett LintonLatest in SMU Data and Models
SMU Survey: Mills slightly less negotiable on spot pricing
Sheet and plate buyers say mills remain open to negotiating spot prices this week, though less so than in recent weeks, according to SMU’s latest market survey.
August service center shipments and inventories report
US service centers flat-rolled steel supply in August declined month-over-month (m/m) and year-over-year (y/y), according to SMU data.
Apparent steel supply remains elevated in July
Apparent supply totaled 8.88 million short tons (st) in July, down 38,000 st from June and 6% higher than the same month last year
HRC vs. prime scrap spread narrows slightly
The price spread between prime scrap and hot-rolled coil (HRC) narrowed by a hair this month, according to SMU’s most recent pricing data.
SMU Scrap Survey: Current Sentiment rises as Future Sentiment falls
SMU’s current Scrap sentiment index increased this month while future sentiment declined, according to our latest ferrous scrap survey data.