Steel market chatter this week

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Steel prices are still largely steady. How do you expect prices to trend over the next three months?

“I expect prices to move up over the next three months. Companies are still dwindling their inventory and at some point, even if demand doesn’t take off there will be more holes to fill.”

“I think prices will trend up coming into the new year, once mill lead time are out of January and into February, buyers will be pushed into higher prices.”

“Prices will go up. Tariffs are coming!”

“Plate will inch upward soon. I’m betting on it.”

“There is no place to go further down this point.“

“Up, nowhere else to go. Has been treading water since July.”

“Gaining strength due to lack of inbound material.”

“Trend slowly up as mills strive for increases with slowly improving demand, rising lead times, controlled utilization, and positive sentiment.”

“Inching up as demand improves.”

“Slightly up in Q1, but nothing spectacular.”

“Slow increases after January 2025.”

“They should fall (slightly), maybe into the low-$600s, for the next two months and rise towards Q2.”

“Trend down until new tariffs are in play.”

“Prices will remain steady unless Trump establishes tariffs.”

“Steady, until the economy ramps up and potential tariffs after inauguration.”

“Flat, demand is weak.”

“Stable.”

“Flat.”

“Steady.”

Is demand improving, declining or stable?

“Demand has started out the month strong, but we were coming out of the holiday and now that we are close to heading into the next holiday it will slow down.”

“Stable, some markets are doing well and others not.”

“Stable for now.”

“Still stable at best.”

“Declining due to seasonality in our business.”

“Slightly declining.”

“Demand is poor for everyone, across ever sector and that is sure scary.”

“Declining, interest rates are too high.”

“Appears to be slowly improving as some restocking occurs.”

“Improving.”

“Plate demand is good to very good depending on what market segment you’re talking about.”

Is inventory moving faster or slower than this time last year?

“Inventory is moving slower than last year as pricing has remained stable to under pressure vs. last year.”

“Slower with less overall demand.”

“Slower due to weak demand.”

“Slightly slower.”

“Slower.”

“Plate inventories are low and will need restocking soon.”

“It is moving ‘the same’ for us, but that is because we’re carrying far less by design.”

“Steady.”

“Faster, but the month is young.”

“Moving faster.”

Are imports more attractive than domestic material?

“No, lead times are too long and the risk of tariffs.”

“Not yet. Time lag, and price spread… and now the uncertainty created by potential for tariff and quota changes.”

“Plate imports are less attractive to our needs for several reasons. Landed cost, quality questions, projects requirements of Made-and-Melted USA, lead-times, the list goes on.”

“No, takes too long to come in and we are poised to see steel increases eventually.”

“No, we buy American.”

“No, too many unknowns.”

“Extended lead times and possible tariffs are keeping imports light.”

“Imports are not attractive at all.”

“Pricing is okay but lead times aren’t short enough.”

“Too uncertain what the delivered prices will be post tariffs.”

“The spread is too low, although the declining Euro vs. USD XR helps.”

“Imports are always priced well.”

What’s something that’s going on in the market that nobody is talking about?

“What happens to U.S. Steel if the Nippon bid is canceled?”

“Perhaps we are talking and speculating about too many things? Awareness is good, planning scenarios are good, but is there too much noise in the system right now?”

“Everyone is somewhat cautiously optimistic about 2025, but other than The Donald, no one seems to have a real reason why.”

“Spot buying has been minimal, but the major mills are quoting higher prices, heading into a new presidency and more tariffs, seems like a disaster waiting to happen.”

“Too much domestic capacity.”

“A very slow, quiet market.”

“Government regulations.”

“Something I found interesting over the weekend was an advertisement that Ontario had attempting to influence public opinion on their importance as a trade partner with the USA.”

“Evraz sale of North American operations.”