Steel Market Update forecast that flat rolled steel shipments from U.S. service centers would slightly decline from 105,109 tons per day in January to 104,577 tons per day in February. The Metals Service Center Institute (MSCI) reported last week that sheet distributors shipped 109,565 tons per day, an increase over January. Our shipment forecast accuracy […]
Service center shipments in February were stronger than the seasonal norm, according to Steel Market Update’s latest analysis of Metals Service Center Institute data. Daily shipments in February were 3.8 percent higher than in January. On average since 2009, February shipments have decreased by 0.4 percent; therefore, these latest numbers were seasonally better than the […]
Both current and future sentiment among flat rolled steel buyers saw a small but positive bump in the past two weeks, perhaps reflecting the announcements and uncertainty from the Trump administration on the steel tariffs that are set to take effect tomorrow, March 23. In general, buyers’ attitudes have bounced up and down within a […]
Mill lead times on flat rolled steel continue to inch out as supplies tighten and the mills scramble to fill orders. One of the key indicators tracked by Steel Market Update, lead times reflect the activity at the mills and the order levels they are seeing from their customers. SMU’s latest data indicates that the […]
With President Trump’s steel tariff set to kick in on Friday, domestic steelmakers remain in a strong pricing position. Buyers responding to this week’s SMU market trends questionnaire reported most mills unwilling to bend much when it comes to steel product prices, except in some cases for large orders. By market segment, 91 percent of […]
Only one out of four respondents to Steel Market Update’s market trends questionnaire this week feel President Trump’s 25 percent tariff on steel imports will have a beneficial effect on their businesses. Most (62 percent) expect it to hurt business in the long term, while the remaining 13 percent predict it will have little effect […]
The market is waiting anxiously to see how the Trump administration’s Section 232 tariff will affect steel imports, and in turn steel prices. The 25 percent tariff takes effect on Friday. If Steel Market Update’s latest sample of reader opinion is any indication, the volume of imports into the United States may not moderate as […]
The competitive position of steel and steel products has improved in the last few months, according to Bureau of Labor Statistics (BLS) data. In the past, we have reported the producer price indexes of steel and some competing products on a quarterly basis. This month, we have revamped and expanded our report to provide subscribers […]
The following analysis of the number of months of supply being held by flat rolled steel distributors is intended for SMU Premium level members. We are sharing this report with all of our readers during the first year of the index, after which it will be available for Premium members only. Shortly after the month […]
Last week, Steel Market Update conducted an analysis of the flat rolled steel market trends. We reached out to 640 individuals representing more than 600 manufacturers, steel service centers and wholesalers, steel mills and toll processors and asked dozens of questions related to flat rolled and plate steel usage. One of the key areas of […]
President Trump’s 25 percent tariff on steel from countries around the world comes at what cost? The trade action by the Trump administration is unpopular among the majority of the executives who responded to Steel Market Update’s market trends questionnaire last week just before the president announced the tariffs, as expected. Nearly seven out of […]
Is steel demand showing signs of weakening? The year got off to a strong start, but changes in the last three Steel Market Update queries hint at a subtle change in steel buyers’ attitudes. A bit over half of the respondents to the last three SMU market trends questionnaires reported demand staying about the same […]
Eight out of 10 respondents to Steel Market Update’s market trends questionnaire last week (just prior to President Trump’s announcement confirming the 25 percent tariff on steel imports) believe tariffs on foreign steel will weaken the steel and manufacturing base in the United States. Following are some reader comments, nearly all opposed to the Trump […]
Imports’ shares of the major steel product markets are all on the decline, reveals a new report on imports from Steel Market Update. The report examines the import share of sheet, plate, long and tubular products and 18 subcategories of these product groups. We think the introduction of this analysis is timely as a way […]
Steel inventories are increasing as the inventory-to-shipment ratio is decreasing—a very healthy trend for the supply chain. To efficiently manage inventory, companies generally want to keep the ratio low. A rise in the inventory-to-shipment ratio indicates that shipments are falling or the operation is keeping too much inventory on hand. Each month, the Census Bureau […]
President Trump’s controversial decision to impose a steep tariff on steel imports has clearly unsettled the market and taken a toll on the attitude of many steel buyers. Both current and future sentiment among flat rolled steel buyers declined significantly in the last two weeks, according to the latest Steel Market Update Steel Buyers Sentiment […]
Mill lead times on flat rolled steel orders continue to extend as supplies tighten and buyers scramble to replenish inventories ahead of the next price increase. One of the key indicators tracked by Steel Market Update, lead times reflect the activity at the mills and the order levels they are seeing from their customers. About […]
With foreign steel offers largely on hold as the market awaits President Trump’s final decision on steel tariffs, domestic steel mills are in a strong bargaining position and are taking full advantage of it. Nine out of 10 steel buyers responding to Steel Market Update’s market trends questionnaire this week say the mills are unwilling […]
Steel Market Update forecast that flat rolled steel shipments from U.S. service centers would rise from 87,805 tons per day in December to 109,083 tons per day in January. The Metals Service Center Institute (MSCI) reported last week that sheet distributors shipped 105,109 tons per day. Our shipment forecast accuracy continues to be high, off […]
Key market indicators, and the trends they reveal, are the best they have ever been in Steel Market Update’s analysis. Data released in February shows that 18 of the 36 indicators are historically positive with only six negative. The balance is within the band of historically normal. Trends improved with 32 of the indicators heading […]
Flat rolled steel prices have been on the rise since October. Judging by steel demand, that trend is likely to continue. About 41 percent of all the respondents to last week’s Steel Market Update market trends questionnaire reported improving demand for their products. Another 53 percent said demand remained the same. Only 6 percent felt […]
In 2017, the domestic steel market contracted by 0.5 percent, but domestic shipments were up while imports were down. Table 1 shows 11 years of history of total steel supply to the U.S. market broken down into shipments from domestic mills and imports, excluding semi-finished. The hot rolled steel market totaled 106.4 million tons in […]
President Trump has made no official announcement about his plans for Section 232, leaving the steel market to speculate on last week’s Commerce Department recommendations. The majority of respondents to this week’s Steel Market Update market trends questionnaire are guessing he will come up with his own solution to combat unfair imports. The Commerce recommendations […]
Mill lead times on flat rolled steel orders continue to stretch as buyers replenish inventories in the first quarter. One of the key indicators tracked by Steel Market Update, lead times reflect the activity at the mills and the order levels they are seeing from their customers. About 9 percent of respondents to this week’s […]
Steel prices have been on the rise for the past four months, so it’s no surprise that steel buyers are reporting mills less willing to negotiate. More than 60 percent of respondents to Steel Market Update’s latest market trends questionnaire say mills are holding firm in price negotiations. About 10 percent say they still find […]
Current and future sentiment among flat rolled steel buyers showed a slight dip this month, due in part to the uncertainty over possible government trade action against imports. Viewed as a three-month moving average, however, industry optimism remains near record highs, according to the latest Steel Market Update Steel Buyers Sentiment Index. The index measures […]
January service center intake rose 12 percent month over month but was flat compared to the seasonal norms and was down 2.7 percent compared to January 2017 intake. Daily shipments in January were 31.1 percent higher than in December and were 4.3 percent higher than January 2017. According to Steel Market Update’s latest analysis of […]
Premium subscribers to Steel Market Update receive reports on imports with macro data broken down by product on the national level. SMU also provides reports that detail the import tonnage received by district of entry and source nation. This new report from SMU takes the analysis even further. Using U.S. International Trade Commission (USITC) data, […]
According to the Steel Market Update Service Center Flat Rolled Inventories Index, distributor inventories fell over the course of the month of January. Our index has distributors holding 2.8 months of supply as of the end of the month. This is 0.2 of a month’s supply lower than the 3 months of inventory held at […]
Current and future sentiment among flat rolled steel buyers remains at or near record highs, according to the latest Steel Market Update Steel Buyers Sentiment Index. The index measures changes in buyers’ optimism levels, which offers insight into their likely decision-making. Three out of four respondents to SMU’s flat rolled market trends questionnaire this week […]