Industry sentiment has rebounded to levels exceeding those seen prior to the pandemic, and steel executives polled by Steel Market Update this week have a fairly optimistic outlook on their future as well despite concerns about a second wave of COVID-19. Every two weeks, SMU asks steel buyers how they view their company’s chances for […]
Lead times for spot orders of steel continue to extend with hot rolled delivery now averaging more than six and a half weeks and coated steel orders around eight and a half weeks. Lead times are an indicator of steel demand—longer lead times mean the mills have more orders to process and are less likely […]
Signaling that the mills remain busy, lead times for delivery of spot orders continue to lengthen with hot rolled now averaging more than six and a half weeks and coated steel orders around nine weeks. Lead times are an indicator of steel demand—longer lead times mean the mills have more orders to process and are […]
Mills continue to control negotiations over hot rolled, cold rolled and coated steel orders as they seek to collect higher prices in a market characterized by extended lead times and tight supplies. About 86 percent of the hot rolled steel buyers responding to Steel Market Update’s market trends questionnaire this week said the mills are […]
Mills continue to hold the upper hand in negotiations over hot rolled, cold rolled and coated steel orders as they work to collect higher prices in a tight market with extended lead times. Buyers report the mills will only negotiate on big tonnages to be delivered in 2021. About 86 percent of the steel buyers […]
Given all the contentious election rhetoric and concerns over the spread of COVID, industry sentiment, as measured by Steel Market Update, remains surprisingly upbeat. SMU’s Current Sentiment Index saw a 12-point jump since the beginning of October, reaching its highest reading since May 2018. Every two weeks, SMU asks steel buyers how they view their […]
About 72 percent of the service center and OEM executives polled by Steel Market Update this week said they expect the economy in 2021 to be better than 2020. The other 28 percent was evenly split between those who expect more of the same and those who see next year being even worse. No surprise, […]
Lead times for hot rolled steel now average longer than six weeks, and coated steel orders longer than eight weeks, as the mills remain busy in a market adjusting to business in a pandemic. Lead times are an indicator of steel demand—longer lead times indicate the mills have more orders to process and are less […]
Flat Rolled = 45 Shipping Days of Supply Plate = 51.3 Shipping Days of Supply Flat Rolled Service center flat roll inventories fell significantly month on month as shipments increased and mill lead times extended. The SMU service center inventories data for September shows that service centers carried 45 shipping days of supply of flat […]
Nearly three out of four (72 percent) of the service center and OEM executives responding to Steel Market Update’s questionnaire last week said they feel upbeat about their company’s prospects in the fourth quarter. Yet SMU received twice as many negative comments as positive ones. Clearly, even the optimists are concerned about COVID and the […]
Industry sentiment, as measured by Steel Market Update, has seen little change in the past month, but has stabilized at relatively healthy levels. Every two weeks, SMU asks steel buyers how they view their company’s chances for success in the current environment. The Current Sentiment reading was unchanged at +56 this week. Compared with the […]
Lead times for spot orders of hot rolled and Galvalume steels continued to lengthen a bit over the past two weeks, while lead times for cold rolled, galvanized and plate products were flat to slightly lower. Lead times for hot rolled now average more than five and a half weeks, cold rolled more than seven […]
It’s a seller’s market as the mills hold firm in price talks on hot rolled, cold rolled and coated steel orders, while they seek to collect the higher prices announced this week in an improving market, according to respondents to Steel Market Update’s market trends questionnaire. About 77 percent of the hot rolled steel buyers […]
Mills continue to stand firm in price talks on hot rolled, cold rolled and coated steel orders as they seek to collect the $40-50 price increases they announced two weeks ago, report respondents to Steel Market Update’s market trends questionnaire. Based on SMU’s latest check of the market, the benchmark price for hot rolled steel […]
Industry sentiment, as measured by Steel Market Update, took a small step back in the past two weeks, but remains at healthy readings well above recent lows as well as this time last year. With demand and steel prices on the upturn, buyers are still feeling relatively positive about the slowly improving market conditions. SMU […]
Service centers and and other buyers traditionally jump into the market to buy ahead of rising steel prices. Steel prices are clearly on the rise, but only about one-third (33 percent) of buyers responding to Steel Market Update’s questionnaire this week said they feel it’s time to add inventory. Their comments reveal some disagreement about […]
Lead times for spot orders of flat rolled and plate steels continue to extend and are around two weeks longer than in April at the depth of the pandemic as demand recovers and supplies tighten. Lead times for hot rolled now average five and a half weeks, cold rolled and galvanized over seven weeks, and […]
With steel prices on the rise and another round of increases in play, the mills appear to have the upper hand in negotiations. The mills are holding the line in price talks on hot rolled, cold rolled and coated steel orders, as well as plate, according to respondents to Steel Market Update’s market trends questionnaire […]
Flat Rolled = 48.6 Shipping Days of Supply Plate = 56.9 Shipping Days of Supply Flat Rolled Service centers’ flat rolled steel supply reached its lowest point of the year in August, as shipments increased and intake remained nearly flat month on month. In August, service centers carried 48.6 shipping days of supply of flat […]
Industry sentiment, as measured by Steel Market Update, has improved to relatively healthy levels even higher than this time last year prior to the pandemic. Both the Current and Future Steel Buyers Sentiment Indexes have jumped by 20 points or more in the past month, suggesting buyers are feeling better about the market’s recovery. SMU […]
Lead times for spot orders of flat rolled and plate steels have extended by about a week over the past month as demand continues to recover and buying picks up ahead of rising prices. Lead times for hot rolled now average nearly five weeks and coated products more than seven weeks. Lead times are an […]
Flat rolled steel is no longer a buyer’s market as the mills appear less willing to negotiate while they try to collect the price increases they announced late last month. Steel Market Update’s market trends questionnaire this week shows the majority of buyers reporting mills holding the line in price talks on hot rolled, cold rolled […]
Industry sentiment has improved in the past two weeks, as measured by Steel Market Update. SMU’s Steel Buyers Sentiment Indexes took a dip in July but rebounded in the latest check of the market for reasons that are not entirely clear. Respondents bemoan the persistent uncertainty, but business is good in certain sectors. SMU asks […]
For more than 28 percent of steel buyers, business is back to pre-COVID levels already, while at the other end of the spectrum 9 percent have seen little or no recovery. For the vast majority in between, the recovery process is a slow and ongoing one. In the latest market canvass this week, SMU asked: […]
Flat Rolled = 55.5 Shipping Days of Supply Plate = 54.7 Shipping Days of Supply Flat Rolled Service centers pared down flat-rolled steel supply in July to 55.5 shipping days of supply, according to preliminary data, down from 62.5 in June’s adjusted data. Inventories represented 2.52 months of supply in July, down from 2.84 in […]
Industry sentiment has taken a pessimistic turn over the past four weeks as COVID-19 continues to outsmart government and health officials, who can’t seem to unite on a strategy that will stem the spread of the coronavirus. Steel Market Update’s Steel Buyers Sentiment Indexes had been improving since hitting bottom in early April, but dipped […]
With Congress at an impasse over the next round of federal stimulus spending, roughly two out of three steel buyers polled by Steel Market Update believe it’s time to dial it back and not overreact. The other one-third feel the government should double down on spending to support an economy still struggling with the effects […]
Lead times for spot orders of flat rolled steel from the mills were at their shortest in the week of April 30 as orders dried up due to the coronavirus. Since then lead times have extended by about half a week, but saw only minor fluctuations in June and July. Currently, lead times for hot […]
Lead times for spot orders of flat rolled steel are stretching out as demand improves and the mills get busier. Lead times for hot rolled and plate steels have extended past four weeks, while lead times for cold rolled and coated are now longer than six weeks. Lead times are an indicator of steel demand—longer […]
Steel buyers maintain their strong position in price negotiations with steel makers as demand slowly recovers from the coronavirus. The vast majority of those responding to Steel Market Update’s questionnaire this week report that the mills are willing to compromise on price to win orders. Nearly all the hot rolled buyers (91 percent) said the […]