SMU has updated the survey data we collect to better detect shifts in buying patterns between domestic and foreign steel. We know from Commerce Department figures that flat-rolled steel imports have been running at or above one million short tons a month since May – well above a monthly average of approximately 800,000 short tons […]
Flat Rolled = 54.5 Shipping Days of Supply Plate = 54.9 Shipping Days of Supply Flat Rolled U.S. service center flat rolled inventories grew in September to the highest level seen since August 2020, according to Steel Market Update data. At the end of September, service centers carried 54.5 shipping days of supply on an […]
Mill lead times for orders of flat rolled and plate products have shortened significantly over the past month. Steel Market Update’s latest check of the market shows the average lead times for hot rolled, cold rolled and galvanized steel have come in by roughly three-fourths of a week. The typical hot rolled lead time is […]
Since this time last year, mills have been in the driver’s seat when it comes to steel price negotiations. With demand exceeding supplies – and with buyers more concerned about finding steel than what they had to pay for it – mills have basically been able to steer prices wherever they wanted. That appears to be changing, […]
Sentiment among steel buyers tends to mirror steel prices. The higher the steel price, the higher the spirits of service center and manufacturing executives and the more optimistic they feel about their prospects. Steel Market Update data shows that the record-high steel prices of the past year have begun to moderate. But Steel Buyers Sentiment […]
By most measures, the steel market is in transition. Demand remains strong, with notable exceptions in sectors such as automotive. Supplies remain tight, but not nearly as tight as earlier in the year thanks to surging imports. Mill lead times are still highly extended versus historical averages, but are a week or two shorter than […]
Mill lead times for flat rolled and plate products have gradually been shortening over the past two months. Steel Market Update’s check of the market this week shows the average lead time for hot rolled down to nearly eight weeks from more than ten weeks in early August. Lead times for cold rolled and galvanized […]
Monthly Key Market Indicators, as analysed by Steel Market Update, slipped again in the past month, albeit slightly. The typical summer slowdown may have been compounded by the ongoing drag of COVID-19 as well as an uneasy economic and political landscape. Markers for the Present Situation have contracted for a third straight month and Trends […]
As expected, Steel Buyers Sentiment declined over the past two weeks from record highs registered in early September shortly after Steel Market Update’s annual Steel Summit. The previous results were no doubt influenced by the conference, making the six-point change since then more of a correction than a decline. The takeaway from the current index […]
Lead times for spot orders of flat rolled and plate products from the mills have all seen notable declines this month, with the exception of Galvalume, according to Steel Market Update’s check of the market this week. The average lead time for hot rolled is now less than nine weeks, down from more than ten […]
Flat Rolled = 51.6 Shipping Days of Supply Plate = 54 Shipping Days of Supply Flat Rolled U.S. service center flat rolled inventories continued to grow in August, while shipments rose from the lower levels seen in July. At the end of August, service centers carried 51.6 shipping days of flat rolled supply on an […]
In mid-August, when lead times registered their first significant decline of the year, some interpreted it as a sign the pendulum had finally begun to swing the other way. Lead times have long been expected to shorten as the mills’ ability to supply the market finally catches up with demand. But any predictions of a […]
If steel buyers are concerned about lead times that are beginning to shorten and price increases that are beginning to slow, there is no sign of it in this week’s Steel Buyers Sentiment readings. The Current and Future Sentiment indexes remain at or near record highs as steel producers and distributors continue to enjoy record […]
Steel Buyers Sentiment, as measured by Steel Market Update, has never been higher despite concerns over the latest COVID variant and signs that the rate of rise in steel prices is beginning to slow. SMU’s Current Sentiment Index registered a new all-time high of +84 this week – the first time the index has broken […]
Roughly half of the steel executives responding to Steel Market Update’s market trends questionnaire this week believe the infrastructure legislation now working its way through Congress will have a significant impact on steel demand in the next year or two. The other half are unsure if the two parties in Washington can reach agreement even […]
With the exception of coated products, lead times for delivery of flat rolled and plate steel have shortened by a week or more – the first significant decline this year and a possible sign that rising steel prices are losing momentum. Lead times for spot orders of steel have extended continuously since the market bottomed last […]
Flat Rolled = 51.3 Shipping Days of Supply Plate = 49.6 Shipping Days of Supply Flat Rolled U.S. service center flat rolled inventories spiked in July with better on-time delivery from domestic mills, the arrival of imports and a slowdown in shipments. At the end of July, service centers carried 51.3 shipping days of supply, […]
Mild weakening of monthly Key Market Indicators, as analyzed by Steel Market Update, may reflect the usual summer slowdown or perhaps growing concern over the latest COVID variant and its possible effects on the economy. Markers for the Present Situation have contracted for the second straight month and Trends have now followed after a small but positive […]
Do you have a sense that conditions in the steel market are changing? If so, you are not alone. The majority of steel buyers polled by SMU over the last two weeks feel it won’t be until the fourth quarter, if not well into next year, before there will be any significant changes in steel […]
Steel Market Update’s check of the market this week shows no significant change in lead times for deliveries of spot orders from the mills. Average lead times for hot rolled orders remain above 10 weeks, while those for cold rolled and coated products are still above 12 weeks – at least twice as long as […]
Steel Market Update’s poll of service center and manufacturing executives this week shows a general consensus that steel prices still have a ways to go before they roll over and begin to correct. When that might happen is anyone’s guess. There are nascent indications that the tight steel supplies may be loosening a bit, however. […]
Steel Market Update’s poll of service center and manufacturing executives this week shows a general consensus that steel prices still have a ways to go before they roll over and begin to correct. When that might happen is anyone’s guess. There are nascent indications that the tight steel supplies may be loosening a bit, however. […]
Steel Market Update’s survey of steel buyers this week shows no signs of anxiety about a possible price correction in the coming months. Like steel prices, buyers’ attitudes have never been loftier. SMU’s Steel Buyers Sentiment Index moved up four points to tie its all-time high of +79 as steel prices continued to rise and […]
Steel Market Update’s check of the market this week shows that lead times for deliveries of spot orders from the mills have shortened slightly on all flat rolled products. The dip of a half-week or less is not highly significant, however, as average lead times for hot rolled orders remain above 10 weeks, while those […]
Flat Rolled = 47.6 Shipping Days of Supply Plate = 44 Shipping Days of Supply Flat Rolled U.S. service center flat rolled inventories increased again in June, though service centers continue to report that they are unable to meet customer demand. At the end of June, service centers carried 47.6 shipping days of supply, up from the […]
Steel Market Update’s latest analysis of monthly Key Market Indicators highlights that the road to recovery from the COVID-19 doldrums is far from over. Markers for the Present Situation have contracted a bit while Trends show small but positive moves from a month ago. The markers are not necessarily an evaluation of the economy’s journey from affliction to […]
Steel buyers’ sentiment saw a slight dip in the past two weeks but remains near record highs, in line with record-high steel prices and profitability. Respondents’ comments suggest they are slightly less bullish about their future prospects than their current situation: “Our prospects in next three months? Excellent. In six months? Good. We all know […]
Steel buyers’ sentiment, as measured by Steel Market Update, remains extremely optimistic, and hasn’t seen a change of any real significance in the past three months. Current Sentiment has averaged a reading of +75 and Future Sentiment an average of +65, plus or minus a few points, since late April as the market enjoys the […]
The market is watching anxiously for a sign that rising lead times have finally turned and will begin to shorten as mill production catches up with demand. Indeed, Steel Market Update data shows a slight dip in the average lead times for spot orders of flat rolled steel products this week. But the same has […]
As it turns out, the slight downturn seen in steel mill lead times last month was not the beginning of a trend change. Lead times for all products but plate have inched higher in the last two weeks, indicating no relief yet from the tight supplies that continue to push steel prices higher. According to […]