The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained negative this week for the ninth consecutive week, following an eight week streak of being in positive territory. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the […]
Last month Steel Market Update forecast steel shipments of carbon flat rolled would total 2,322,000 tons and, according to the MSCI data released last week, shipments were 3,319,000 tons. We missed the number by 3,000 tons… Our forecast called for flat rolled inventories to total 4,344,000 tons at the end of May. We were off […]
We are hearing reports from steel mills that their lead times have moved out and they have been able to collect some, if not most, of the $30 per ton price increase announced at the beginning of the month. Steel Market Update (SMU) is concerned as our research data is suggesting that service centers are […]
Domestic steel mills announced flat rolled steel (hot rolled, cold rolled, galvanized, Galvalume) price increases early last week. However, as is sometimes their want, especially when lead times are shorter than they would like, most of the mills gave their customers time to place orders at the existing prices quoted prior to the announcements. It […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained negative this week for the seventh consecutive week, following an eight week streak of being in positive territory. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the […]
The sentiment among buyers and sellers of flat rolled steel remains largely positive, although concerns about the Section 232 investigation, the recent mill price hike and the coming summer slowdown have dampened the outlook for the market three to six months down the road, according to the latest SMU Steel Buyers Sentiment Index. As a […]
Flat rolled lead times have continued to decline over the past 10 weeks, according to this week’s SMU Flat Rolled Steel Market Trends questionnaire. Buyers and sellers of flat rolled steel report shorter lead times than in early May. Lead times on all products are considerably shorter than one year ago. Shorter lead times are […]
Lead times are declining, which reflects a possible softening of demand, thus domestic mills appear to be more willing to negotiate spot pricing on hot rolled, cold rolled, hot-dipped galvanized and Galvalume steels than they were earlier in the year. About 70-80 percent of steel buyers responding to this week’s flat rolled steel market trends […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. This will explain the difference between our view of the present situation which is subjective and our analysis of trends which is based on the latest facts available. We now have three […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained negative this week for the sixth consecutive week, following an eight week streak of being in positive territory. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained negative this week for the fifth consecutive week, following an eight week streak of being in positive territory. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the […]
A number of the Steel Market Update prognostications for service center inventories and shipments came true (well, almost). We forecast daily shipments would rise on a tons per day basis to 108,400 tons per day. In actuality they rose to 111,100 tons per day. Since April 2017 only had 19 shipping days (according to MSCI) […]
Buyers and sellers of flat rolled steel are slightly less enthusiastic about how they view their company’s ability to be success both in the existing, or current market environment as well as three to six months out into the future. There is an uncertainty that is becoming an issue to business as companies who buy […]
Flat rolled lead times have been shrinking over the past eight weeks according to the results of this week’s SMU Flat Rolled Steel Market Trends questionnaire. Buyers and sellers of flat rolled steel are reporting shorter lead times than what we measured at the beginning of May and lead times on all products are much […]
Since early Monday morning of this week, Steel Market Update (SMU) has been conducting an inquiry into the flat rolled steel markets. We discovered lead times have shrunk which usually relates to lower steel prices and more willingness by the domestic steel mills to negotiate spot prices being offered into the market. SMU inquired on […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained negative this week for the fourth consecutive week, following an eight week streak of being in positive territory. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the […]
In a move that has been building over the past few weeks, today Steel Market Update (SMU) is moving our Price Momentum Indicator to Lower from Neutral. Our belief at this point is flat rolled steel prices will continue their drift lower over the next 30-60 days as we approach what many in the steel […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained negative this week for the third consecutive week, following an eight week streak of being in positive territory. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the […]
Twice per month, Steel Market Update (SMU) conducts a review of how buyers and sellers of flat rolled steel feel about their company’s ability to be successful in the existing market (Current Sentiment) as well as three to six months out (Future Sentiment). Earlier today we crunched the data and found the flat rolled steel […]
Flat rolled steel lead times are running essentially flat (same as what we have been reporting over the past few weeks) based on the responses we received from manufacturing companies and service centers this week. Lead time is the amount of time it takes a domestic steel mill to produce a new order if placed […]
Steel Market Update (SMU) has been conducting one of our flat rolled steel market trends surveys this week. According to those responding to our questionnaire, steel mill resistance to holding firm on flat rolled steel spot prices is in free fall. A very large portion of our respondents reported mills as willing to negotiate on […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States remained negative this week for the second consecutive week, following an eight week streak of being in positive territory. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. This will explain the difference between our view of the present situation which is subjective and our analysis of trends which is based on the latest facts available. We now have two […]
For a number of weeks now (?) Steel Market Update has had our Price Momentum Indicator pointing toward Neutral as opposed to Higher or Lower. Over the past couple of weeks flat rolled prices have been coming off their highs and yet SMU continues to keep our Price Momentum Indicator at Neutral. What gives? Why […]
The Steel Market Update Steel Price Momentum Index (MoMo) for hot rolled steel in the United States turned negative this week after being in positive territory for the previous eight weeks. MoMo is a trailing indicator and shows the relationship between the current U.S. hot rolled coil price movements against the previous 12-week average price as […]
Both manufacturing companies and service centers are reporting distributor spot prices as being in a state of transition. The percentage of manufacturing companies reporting service centers as raising spot flat rolled steel prices has dropped from 50 percent at the beginning of April to 19 percent. At the same time 19 percent of the manufacturing […]
Last week, Steel Market Update (SMU) conducted our mid-April flat rolled steel market trends analysis. Over the course of the week we invited 670 individuals representing approximately 650 companies to participate in our survey. The breakout of the participants was a little different than what we have been seeing over the course of a number […]
The Steel Market Update (SMU) Steel Buyers Sentiment Index continues at very optimistic levels for those involved in the flat rolled steel industry in the United States and Canada. At the same time, our index is no longer making new high’s either as a single data point or on our three-month moving average (3MMA). SMU […]
Over the course of the last four days Steel Market Update (SMU) has been conducting our mid-April flat rolled steel market trends analysis. We finished earlier this afternoon and we are providing the results of some of our findings to our readers this evening. Lead times, which is the length of time it takes to […]
Buyers and sellers of flat rolled steel associated with manufacturing companies and service centers are reporting the steel mills as being more willing to negotiate flat rolled steel spot prices. Based on the responses from those taking our survey, 59 percent reported the domestic steel mills as willing to negotiate hot rolled prices, 76 percent […]