We had a bit of a split regarding service center spot prices in the analysis we did of the flat rolled steel markets last week. Manufacturing companies overwhelmingly reported their steel service center suppliers as dropping flat rolled steel spot prices compared to what they were seeing just a couple of weeks ago. On the […]
Twice as many of the respondents to Steel Market Update’s latest market trends questionnaire expect flat rolled steel prices to remain the same or move higher. About 24 percent feel the downward price trend has bottomed, compared with 12 percent in last month’s returns. Steel Market Update’s current Price Momentum Indicator is pointing toward lower […]
Demand for steel products has been strong and improving for much of the year, but the findings of Steel Market Update’s latest flat rolled and plate steels market trends questionnaire show that more companies see demand for their products declining than increasing under the current market conditions. However, when you view the graph below, you […]
Net job creation in September totaled 134,000 positions. Construction and manufacturing gains were both strong. Table 1 breaks total employment down into service and goods-producing industries and then into private and government employees. Most of the goods-producing employees work in manufacturing and construction and the components of these two sectors of most relevance to steel […]
The attitudes of steel buyers and sellers, as measured by this week’s SMU Steel Buyers Sentiment Index questionnaire, are slightly more optimistic than they were last month. The goal of the index is to measure how buyers and sellers of steel feel about their company’s ability to be successful today (Current Index), as well as […]
Lead times for most flat rolled steel products continue to shrink, according to returns from Steel Market Update’s latest market trends questionnaire. Lead times for steel delivery are a measure of demand at the mill level—the shorter the lead time, the less busy the mill, and theoretically the more flexible the price. Lead times for […]
When it comes to haggling over steel prices with the mills, buyers retain a strong bargaining position. Steel Market Update tracks how buyers and sellers of flat rolled steel represent the mill negotiation position. More than eight out of 10 buyers report that mills are willing to negotiate spot prices on new orders placed this […]
The SMU Steel Buyers Sentiment Index has been treading water, albeit at optimistic levels, for the past six months. However, the attitudes of buyers and sellers about conditions in the steel market might be described as anywhere from cautious to tepid, judging by the comments provided in Steel Market Update’s latest Steel Buyers Sentiment Index […]
Lead times for most flat rolled steel products are about a week shorter than they were two months ago. Shorter lead times suggest that steel demand is easing. Lead times for steel delivery are a measure of demand at the mill level—the shorter the lead time, the less busy the mill. Lead times for hot […]
The pendulum has definitely swung back in buyers’ favor when it comes to negotiating steel prices with the mills. Steel Market Update tracks how buyers and sellers of flat rolled steel represent the mill negotiation position. More than nine out of 10 buyers report that mills are willing to negotiate spot prices on hot rolled […]
The following analysis is from the SMU Service Center Inventories Index. This index is a proprietary product produced through data collection and interaction with a large number of flat rolled and plate service centers across the United States. This index is normally shared only with data providers and our Premium level members. If you would […]
Each month, Steel Market Update produces an import analysis by region for two of the six flat rolled product groups (HRC, CRC, HGD, OMC, CTL plate and coiled plate). This month, we are focusing on plate products. The intent of these regional updates is to bridge the gap between our monthly licensed data summaries and […]
Each month, Steel Market Update produces an import analysis by region for two of the six flat rolled product groups (HRC, CRC, HGD, OMC, CTL plate and coiled plate). This month, we are focusing on plate products. The intent of these regional updates is to bridge the gap between our monthly licensed data summaries and […]
Net job creation in August totaled 201,000 positions. Manufacturing took a small step back, but year to date the results are good, according to Steel Market Update’s latest analysis of Bureau of Labor Statistics (BLS) data. Table 1 breaks total employment down into service and goods-producing industries and then into private and government employees. Most […]
Steel demand and prices are seeing some softening, but perhaps not enough to trigger a big inventory correction yet, report respondents to Steel Market Update’s flat rolled market trends questionnaire this past week. About 27 percent of the steel buyers who responded believe demand for their products is declining. However, the majority, 58 percent, report […]
Future Sentiment, measured as both a single data point and as a three-month moving average (3MMA), is near its low point of the year as conflict on the trade front keeps buyers guessing. Future Sentiment registered +55 in Steel Market Update’s latest Steel Buyers Sentiment Index, down from +67 in mid-August. Current Sentiment registered +63, […]
Lead times on most flat rolled steel products continue to shorten, according to Steel Market Update’s latest market trends data. Lead times for steel delivery are a measure of demand at the mill level—the longer the lead time the busier the mill. Shortening lead times suggest steel demand is easing. Lead times for hot rolled […]
Steel buyers appear to have considerably more leverage in mill negotiations than at any other point this year. Twice per month, in a proprietary poll, Steel Market Update tracks how buyers and sellers of flat rolled steel represent the mill negotiation position. Most buyers report that mills are willing to negotiate spot prices today. According […]
Sixty-two percent of those responding to Steel Market Update’s latest market trends questionnaire believe steel prices on the spot market are on the decline. Another 35 percent expect prices to remain the same. Only 3 percent feel steel prices could still move higher. SMU has adjusted its Price Momentum Indicator to Lower, meaning prices are […]
The steel market is watching and waiting to see if President Trump will hit other countries with higher tariffs as he did with Turkey. If he does, the majority of observers will not be surprised. Indeed, more than 60 percent of the steel executives responding to Steel Market Update’s latest market trends questionnaire expect further […]
Both Current and Future Sentiment, measured as three-month moving averages (3MMAs) to smooth out the data, are below levels of this time last year, possibly reflecting concerns among steel buyers about the volatile trade situation in the U.S. Data from Steel Market Update’s Steel Buyers Sentiment Index remains at optimistic levels, however, by historical standards. […]
Lead times for steel delivery are a measure of demand at the mill level—the longer the lead time the busier the mill. Lead times on hot rolled and cold rolled steel products have remained flat over the past couple of weeks, while coated products saw some shortening of delivery times, according to Steel Market Update’s […]
Mills appear more willing to negotiate spot prices on most flat rolled steel products than at any other point this year. Twice per month, in a proprietary poll, Steel Market Update tracks how buyers and sellers of flat rolled steel represent the mill negotiation position. According to respondents to this week’s market trends questionnaire, 71 […]
Premium subscribers to Steel Market Update receive reports on imports broken down into district of entry and source nation. This new report from SMU takes the analysis to the product detail level. Our rationale is that the more information steel buyers have about the fine detail of what is coming into their region, the better […]
A couple of months ago, Steel Market Update was speaking in front of a group from the financial community. We were asked, “What do you look for as a sign when prices are about to change direction?” Our answer was a mill price increase announcement. Earlier this week, ArcelorMittal USA announced a $30 per ton […]
Flat rolled and plate steel distributors, as well as the manufacturers who purchase spot material from the distributors and wholesalers, are reporting a softening of spot pricing. That is the spot pricing service centers are offering their manufacturing customers. Last week, Steel Market Update conducted our early August flat rolled and plate steel market analysis. […]
Steel pricing is the product of a complex interplay between supply and demand, along with other factors such as ferrous scrap prices, imports and government trade actions. Steel Market Update canvasses steel executives twice each month with its market trends questionnaire to take the pulse of the industry. The current prevailing view shows supplies tightening, […]
Data from Steel Market Update’s latest market trends questionnaire shows industry sentiment—while still high by historical standards—wobbling a bit, mostly likely over concerns about the uncertain trade situation in the U.S. SMU’s Current Steel Buyers Sentiment Index measures how buyers and sellers of flat rolled and plate steel feel about their company’s ability to be […]
Lead times for steel delivery are a measure of demand at the mill level. Lead times on most flat rolled steel products continue to shorten, according to Steel Market Update’s latest market trends data, suggesting that the mills are not as busy as they were earlier in the year and may be more open to […]
Negotiations between steel mills and buyers have loosened considerably as the mills appear significantly more willing to negotiate spot prices than at any other point this year. Every two weeks, in a proprietary poll, SMU tracks how buyers and sellers of flat rolled steel represent the mill negotiation position. According to respondents to this week’s […]