Features

Holiday notice: happy Thanksgiving!
Written by Michael Cowden
November 21, 2023
Steel Market Update will be taking time off in observance of Thanksgiving.

Our offices will be closed on Thursday and Friday, Nov. 23–24.
We will not publish an issue on Thursday, Nov. 23, or on Sunday, Nov. 26.
Premium members will receive our steel market survey results on Monday, Nov. 27, instead of on Friday.
We will resume our regular publication schedule on Monday.
We wish safe travels to everyone who will be on the road. We hope you get to spend some time with friends and family. And we thank you for your continued support of SMU.

Michael Cowden
Read more from Michael CowdenLatest in Features

Final Thoughts
Despite some scary headlines lately (especially about Trump potentially firing Fed Chair Jerome Powell) this is not October 2008 (financial crisis) or March 2020 (onset of the pandemic). But it sure seems like we’ve taken a relatively strong economy and poured a thick sauce of uncertainty over it.

CRU: Rising protectionism will continue to weigh on Chinese steel export prices
Chinese steel export prices are expected to remain stable or fall in the coming weeks as trade restrictions rise and tensions between the country and the US escalate.

Fed indicators signal healthy manufacturing sector
Recent Federal Reserve data paints a positive picture of the US manufacturing sector. Manufacturing indicators remained strong through February and March figures

Steel market chatter this week
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.

Final Thoughts
I put some of our survey data through ChatGpt, with interesting results.