JSW Steel USA announced that Mark Bush has stepped down as CEO to pursue other opportunities. Greg Manfredi, current COO of JSW Steel USA, will take interim charge, and lead both the Mingo Junction, Ohio, and the Baytown, Texas, teams. His role will also include the continued execution of the modernization and upgrades of the […]
Steel Market Update’s (SMU) Steel Buyers Sentiment Index surged 13 points last week and now stands at a five-month high. Our Future Buyers Sentiment Index also increased, up three points to one of the highest readings since May. Buyers Sentiment had peaked earlier this year, then trended downward through mid-November, always remaining in positive territory. SMU’s Buyers Sentiment […]
Steel mill lead times were mixed this week compared to our previous market check, with production times slightly shrinking for three products and marginally extending for two. Hot rolled, cold rolled, and galvanized lead times are now at or near multi-year lows. Lead times are down by an average of 0.2 weeks compared to one […]
A very high percentage of sheet buyers continue to report that mills are willing to talk price to secure an order, as they have since May, with more than nine out of ten reporting that this week. Negotiations on plate products are not as common, with slightly more than half of buyers reporting they are […]
Monthly Key Market Indicators (KMI) have steadily improved since reaching their most recent low in July, though steel buyer sentiment recently tumbled to a 26-month low, according to the latest analysis by Steel Market Update. Positive and neutral indicators have increased, while negatives have eased. Despite some recent improvements, present headwinds are still notable. The […]
Flat Rolled = 52.5 Shipping Days of Supply Plate = 47.3 Shipping Days of Supply Flat Rolled US service center flat rolled supply in October was steady month on month, according to Steel Market Update data. At the end of October, service centers had 52.5 shipping days of flat-rolled steel on hand on an adjusted […]
Steel Market Update’s (SMU) Steel Buyers Sentiment Index remained roughly steady this week, as it has seen since mid-September. Our Future Buyers Sentiment Index inched down three points but remains in line with levels recorded in late September. Buyers Sentiment peaked earlier this year. It has trended downward since May but nonetheless remains in positive […]
Steel buyers continue to hold the upper hand in price negotiations with mills — a position they have enjoyed for nearly six months. A very high percentage of sheet buyers continue to report that mills are willing to talk price to secure an order. Negotiations on plate products are not as common, with slightly more […]
Steel mill lead times were steady to down this week compared to our previous market check. Production times shrunk for four products tracked by SMU and slightly extended for one. Lead times retracted by an average of 0.2 weeks compared to two weeks ago and are half a week shorter than levels one month ago. […]
Apparent demand for flat-rolled steel in the US edged down slightly in SMU’s latest analysis of demand and lead time dynamics. Despite the slight decline in the latter half of October, the month’s SMU Steel Demand Index closed out roughly 2.5 points above September’s reading but remained in contracting territory for the sixth straight month […]
After ticking downward in the middle of October, Steel Market Update’s (SMU) Steel Buyers Sentiment Indices both saw marginal increases this week. Buyers Sentiment has trended downward overall since May, with buyers concerned about high inventory costs, dismal demand, and a slowing economy. SMU’s Buyers Sentiment Index attempts to measure how steel buyers feel about […]
As steel prices ease week after week, the power position in price negotiations between steel mills and steel purchasers continues to rest with buyers, as it has since June. According to our latest check on the market, a high percentage of buyers continue to report that mills are willing to talk price to secure an […]
Steel mill lead times declined across the board this week for all products tracked by SMU. Our latest lead times analysis shows that production times on sheet products decreased by 0.2–0.5 weeks compared to our previous market check two weeks ago, while plate lead times dipped 0.1 weeks. On average, lead times retracted by 0.3 weeks compared to […]
Flat Rolled = 52.7 Shipping Days of Supply Plate = 50.2 Shipping Days of Supply Flat Rolled US service center flat rolled supply on hand edged down in September, reflecting a higher daily shipment rate. At the end of September, service centers carried 52.7 shipping days of supply of flat rolled, down from 53.9 shipping […]
Steel Market Update’s (SMU) Steel Buyers Sentiment Indices both saw slight declines this week, following modest gains two weeks prior. Sentiment has trended downward overall since May, with buyers attributing their dismal outlooks to weakening demand, high inventory costs, and recession concerns. SMU’s Buyers Sentiment Index measures how steel buyers and sellers feel about their […]
Steel mill lead times were relatively unchanged this week for four of the five products tracked by Steel Market Update. Our latest lead times analysis shows that production times on hot-rolled steel held steady compared to our previous market check. Galvanized, Galvalume, and plate lead times all extended just 0.1 weeks, while cold rolled lead […]
With steel prices continuing to ease, buyers clearly hold the upper hand in price negotiations with mills. Market dynamics have turned 180 degrees in the past six months, from a seller’s market in March and April to a strong buyer’s market today. According to our latest steel market survey, a high percentage of buyers continue to report […]
Steel Market Update’s (SMU) Steel Buyers Sentiment Index saw a slight uptick this week. The modest gain follows a double-digit decline two weeks prior. Industry sentiment has trended downward since May, with continued concerns about demand, profitability, high-cost inventory, and recession. Despite the increased gloom, SMU’s Future Steel Buyers Sentiment Index also bounced back this […]
Steel mill lead times shrunk across the board this week, with the processing time narrowing for all five products we track. SMU’s latest lead times analysis shows that production times on hot rolled, galvanized, and plate products declined 0.1–0.3 weeks compared to our previous check on the market, while cold rolled and Galvalume lead times […]
The power position in price negotiations between steel mills and steel purchasers has seen a complete turn around in the past six months, transitioning from a seller’s market in March and April to a strong buyer’s market today. According to our latest steel market survey, the percentage of buyers reporting that mills are willing to […]
Steel Market Update is pleased to share this new, Premium content — an index comparing lead time and demand data — with Executive members. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Apparent demand for flat-rolled steel in the US saw its sharpest decline since our early July reading when the index fell seven […]
Steel Market Update’s (SMU) Steel Buyers Sentiment Index saw double-digit declines last week, falling to the second-lowest level seen in the past two years. Our Future Steel Buyers Sentiment Index also declined, now tied for the third-lowest reading in that same time frame. Buyers attribute their weaking optimism to profitability concerns on high-cost inventory as […]
Flat Rolled = 53.9 Shipping Days of Supply Plate = 59.4 Shipping Days of Supply Flat Rolled US service center flat rolled inventories edged down month on month in August, though the amount of material on order spiked, according to Steel Market Update data. At the end of August, service centers had 53.9 shipping days […]
Steel mill lead times were overall flat this week, with the processing time for some orders slightly extending and others shrinking. Hot rolled and Galvalume lead times increased compared to our previous market check, while cold rolled, galvanized, and plate lead times slightly declined. On average this week, lead times were unchanged compared to two […]
The percentage of buyers reporting that mills are negotiable on new order pricing grew this week. According to our latest steel market survey this week, the majority of the steel executives polled reported that mills are willing to talk price to secure an order. A high willingness to negotiate has been evident in each of […]
Steel Market Update’s (SMU) Steel Buyers Sentiment Index inched up through the end of August data, while our Future Steel Buyers Sentiment Index slightly declined. The latest Sentiment Index is in line with our two previous readings over the last month. Future Sentiment is now at the fourth lowest level of the year, just behind […]
After contracting in mid-August, the percentage of buyers reporting that mills’ prices are negotiable grew this week. All but 15% of the steel executives polled this week reported that mills are willing to talk price to secure an order, according to our steel market surveys. A high willingness to negotiate has been evident in each […]
Steel Market Update is pleased to share this new Premium content—an index comparing lead time and demand data—with Executive members. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Apparent demand for flat-rolled steel in the US was sideways in our mid-August reading. The lack of change in the index highlights the current state of […]
Steel Market Update’s Steel Buyers Sentiment Index eased from it’s early-August blip, as did our Future Steel Buyers Sentiment Index. The latest Sentiment Index is tied with the early-June reading for the third lowest level recorded this year. Future Sentiment is now at the fourth lowest level of the year. Recall that one month ago, […]
The percentage of buyers reporting that mills’ prices are negotiable contracted this week, following more than two consecutive months of rising negotiation rates. Four out of five steel executives polled this week reported that mills are willing to talk price to secure an order. According to our steel market surveys, a high willingness to negotiate […]