This past week Steel Market Update publisher, John Packard, spoke to the financial community about the flat rolled steel industry. Most of the questions received during the Cowen & Company conference call were associated with demand for steel products. Since SMU just concluded our early April flat rolled steel market analysis (survey) late last week, […]
Steel Market Update (SMU) has two Steel Buyers Sentiment Indices, current and future. We normally concentrate our initial comments on the current index, how buyers and sellers of steel feel about business conditions and their company’s ability to be successful in the current market. However, today and going forward, we will begin focusing on how […]
This week Steel Market Update (SMU) conducted our early April flat rolled steel market survey. Based on the results of our inquiries we learned that domestic mill lead times continue to be quite short and well below the lead times seen one year ago. However, when looking at last year’s lead times, we must remember […]
According to our survey respondents not much has changed when it comes to how willing steel mills are to negotiate hot rolled, cold rolled, galvanized and Galvalume steel pricing. Lead times continue to remain short and order books weak. This has created a situation whereby steel mills have to be competitively priced in order to […]
This week the Steel Market Update Price MoMo Index for flat rolled steel in the U.S. is showing hot rolled coil price momentum continuing its downward trend for the 33rd week in a row. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) price […]
This week the Steel Market Update Price MoMo Index for flat rolled steel in the U.S. is showing hot rolled coil price momentum continuing its downward trend for the 32nd week in a row. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) price […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. The total number of indicators considered in this analysis is currently 36. Please refer to Table 1 for the view of the present situation and the quantitative measure of trends. Readers should […]
Earlier today, Steel Market Update adjusted our SMU Price Momentum Indicator from “Lower” to “Neutral.” Since November 16, 2014 the SMU Price Momentum Indicator has been pointing toward “Lower” steel prices. Prior to November 16th we had a period of time where our Momentum Indicator vacillated between Neutral and Lower going back to May 2014. […]
This week the Steel Market Update Price MoMo Index for flat rolled steel in the U.S. is showing hot rolled coil price momentum continuing its downward trend for the 31st week in a row. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) price […]
One of the most import keys being watched by buyers and sellers of flat rolled steel are the steel mill lead times on hot rolled, cold rolled, galvanized and Galvalume products. Lead times, which are the amount of time it takes to get material produced once a purchase order is placed, have been running “short” […]
Based on the results from our most recent flat rolled steel market analysis which we conducted this past week, manufacturing companies and service centers reported domestic (USA and Canada) steel mills as willing to negotiate pricing on hot rolled, cold rolled, galvanized and Galvalume steel coils. As you can see by the graphic shared below, […]
Those involved in the flat rolled steel industry continue to be optimistic about their company’s ability to be successful both in the current market environment as well as three to six months into the future. The SMU Steel Buyers Sentiment Index (current market) is being reported at +53. This is four points higher than two […]
Not to toot our own horn too loudly, we came within a whisker of nailing both shipments and inventories in our last Service Center Inventory Apparent Excess/Deficit forecast. In our last forecast we indicated flat rolled shipments would be 2,253,000 tons and based on the MSCI data released earlier this week the actual number was […]
This week the Steel Market Update Price MoMo Index for flat rolled steel in the U.S. is showing hot rolled coil price momentum continuing its downward trend for the 30th week in a row. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) price […]
This week the Steel Market Update Price MoMo Index for flat rolled steel in the U.S. is showing hot rolled coil price momentum continuing its downward trend for the 29th week in a row. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) price […]
When it comes to the laws of supply and demand within the steel industry, many steel executives in their quarterly conference calls will reference steel service center inventories. As you look at the graphic below you can clearly see the trend change as steel service center inventories began to balloon in 4th Quarter 2014 and […]
Lead times on flat rolled products remained less than stellar based on the results of our last flat rolled steel market analysis conducted this past week. The respondents to our steel survey pegged hot rolled lead times as averaging 2.92 weeks, statistically unchanged from what we saw as an average during the middle of February. […]
Buyers and sellers of flat rolled steel have been advising Steel Market Update during our flat rolled steel market survey process that the domestic steel mills are willing to negotiate steel prices. Since the beginning of the year the percentage of agreement amongst our respondents (which average 110 to 170 companies) has been almost unanimous. […]
Steel Market Update (SMU) concluded our 5th flat rolled steel market survey earlier today. After evaluating the responses we found buyers and sellers of flat rolled steel continue to be optimistic about their company’s ability to be successful both in the current as well as the future steel markets (3-6 months out). The SMU Steel […]
This week the Steel Market Update Price MoMo Index for flat rolled steel in the U.S. is showing hot rolled coil price momentum continuing its downward trend for the 28th week in a row (6+ months!). MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil […]
An explanation of the Key Indicators concept is given at the end of this piece for those readers who are unfamiliar with it. The total number of indicators considered in this analysis is currently 36. Please refer to Table 1 for the view of the present situation and the quantitative measure of trends. Readers should […]
February and its 20 shipping days is now behind us. It is time to take a look at how the data for the month played out. SMU Price Momentum Indicator ended the month just as it had begun the month (as well as the New Year), pointing toward lower flat rolled steel prices in the […]
This week the Steel Market Update Price MoMo Index for flat rolled steel in the U.S. is showing hot rolled coil price momentum continuing its downward trend for the 27th week in a row (6+ months!). MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil […]
Based on the most recent flat rolled steel market survey results, steel mill lead times stabilized this past week after having declined almost non-stop since August 2014. The question now is will the mill lead times begin to move out from here or remain stuck at these less than desirable levels (from a mill perspective […]
Lead times may be showing signs of reaching a bottom (too early to tell if only a dead cat bounce) but there is no question that the steel mills are willing to negotiate pricing on all flat rolled products. We have been hearing it from the flat rolled steel buyers and executives as we speak […]
Twice per month Steel Market Update conducts our flat rolled steel market analysis. We invite slightly more than 600 qualified companies to participate in our questionnaire which consist of questions about demand, inventories, foreign imports, pricing, sentiment, service center pricing and more. We have been compiling information since late 2008 (SMU began as an official […]
Steel Market Update last Apparent Excess/Deficit forecast for flat rolled steel shipments and inventories called for shipments in January to exceed 2014 levels by 2 percent. Total flat rolled shipments for the month of January 2015 were projected by us to be 2,415,000 tons. In actuality, shipment levels were 1.6 percent higher than January 2014 […]
Steel Market Update (SMU) Steel Buyers Sentiment Index was measured at +53 earlier today based on the results of our most recent flat rolled steel analysis conducted this week. The +53 is 7 points higher than what we reported at the beginning of the month. Our Steel Buyers Sentiment Index measures how buyers and sellers […]
This week the Steel Market Update Price MoMo Index for flat rolled steel in the U.S. is showing hot rolled coil price momentum continuing its downward trend for the 26th week in a row (6 months!). MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil […]
This week the Steel Market Update Price MoMo Index for flat rolled steel in the U.S. is showing hot rolled coil price momentum continuing its downward trend for the 25th week in a row. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) price […]