Prices continued to move higher this week and the mills seem to have gotten a handle on price momentum both on flat rolled and plate. Whether this is temporary or not will depend on lead times and the ability of the steel mills to fill their order books. As one buyer told me this morning: […]
Last week, Steel Market Update conducted our mid-July flat rolled and plate steels market trends analysis. We invited 480 individuals representing 450+ companies to participate in our questionnaire. We intentionally concentrate on inviting manufacturing (40 percent last week) and service centers (45 percent last week) as well as steel mills, trading companies and toll processors […]
There have been $120 per ton ($6.00/cwt) of flat rolled price increases going back to late June. Nucor announced the first plate price increase late on Friday afternoon. That increase is $40 per ton. I heard from a couple of plate service centers who basically said, “It’s about time.” I guess those distributors will support […]
The U.S. Department of Commerce released foreign steel import preliminary Census data for June and license data for July. June imports totaled 2,023,081 net tons with 1,720,318 of those tons being finished steels (as opposed to semi-finished, which is slabs/billets). The July license data has total finished imports trending toward a 2 million net ton […]
Steel Market Update and the Steel Manufacturers Association are committed to promoting youth and encouraging more young people to consider careers in the steel and manufacturing industries. The 2019 SMU NexGen Leadership Award is just one of the ways we are recognizing the existing talent within the industry. There is still time to get in […]
A note today for those companies who will be renewing their memberships for our newsletter in the coming weeks. Please take some time to speak with Paige Mayhair at 724-720-8630 or by email: Paige@SteelMarketUpdate.com to see what options we now have for membership. We made significant changes in the way we are marketing our newsletters, […]
This week we solicited input from steel buyers (and steel mills) regarding their reaction to the third round of price increases, which was kicked off by ArcelorMittal USA yesterday. On June 24, Nucor announced the first of the latest round of mill price increases on spot flat rolled steel. Nucor advised that hot rolled, cold […]
This week we solicited input from steel buyers (and steel mills) regarding their reaction to the third round of price increases, which was kicked off by ArcelorMittal USA yesterday. On June 24, Nucor announced the first of the latest round of mill price increases on spot flat rolled steel. Nucor advised that hot rolled, cold […]
It has been an interesting last four weeks with now three price increase announcements having been made by most of the steel mills. With this latest announcement, I am hearing from buyers the mills are pushing to get orders in “before the increases take effect.” A way of pushing the increases off for a few […]
I had a long conference call this morning with the events team in London regarding the ongoing arrangements being made for the 2019 SMU Steel Summit Conference. I think those attending this year’s event will be very pleased with the cosmetic changes, more exposure for sponsors and exhibitors, networking opportunities and the availability to information […]
Steel Market Update has been analyzing service center inventories for two years now. With our acquisition by the CRU Group, we expanded the breadth and depth of our coverage. Our new Service Center Inventories Index will be rolled out to the public at the 2019 SMU Steel Summit Conference in Atlanta at the end of […]
Steel Market Update has been analyzing service center inventories for two years now. With our acquisition by the CRU Group, we expanded the breadth and depth of our coverage. Our new Service Center Inventories Index will be rolled out to the public at the 2019 SMU Steel Summit Conference in Atlanta at the end of […]
The 2019 SMU Steel Summit Conference Events App is now available for all registered attendees, sponsors and exhibitors to download and use. With the app, everything is at your fingertips: a detailed conference agenda, speaker information, a complete list of the attendees, sponsors, exhibitors, in-conference polling, and more. You can take notes as you go, […]
Steel Market Update, in partnership with the Steel Manufacturers Association, is now accepting nominations for the new SMU NexGen Leadership Award. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference in North […]
Tomorrow we will begin our mid-July flat rolled and plate steel market trends analysis. This means we will have more information regarding pricing (Tuesday), lead times and negotiations (Thursday) and Sentiment and service center spot (Thursday or Sunday) along with other information developed through our questionnaire. If you would like to be included as a […]
Nine business days left for you to nominate a young person from your company for the 2019 SMU NexGen Leadership Award. The deadline is by the end of business on August 1, 2019. The benefits of receiving this award are huge for the person who ultimately wins. A mentorship day with SDI CEO Mark Millett, […]
A note about the Oct. 8-9 Steel 101 workshop in Cincinnati. The workshop is about 50 percent filled as of today and we do expect this workshop will be sold out prior to the event. We will be visiting the Nucor Gallatin steel mill in Ghent, Ky. Excluding transportation to and from the hotel from […]
In Sunday’s issue of Steel Market Update, we adjusted our Price Momentum Indicator on flat rolled from Neutral to Higher. One of the justifications for that move was the Service Center Spot data we were collecting last week. In our analysis, we found a change in pricing mentality, not a 180 degree change, but a […]
Most of my day today was spent communicating with steel buyers and a few steel mills to see where prices are being offered on the spot market by the mills, and where transactions were occurring. As I went through this process, I also collect comments about whether increases are “sticking’ and if the industry believes […]
Steel Market Update has moved our Price Momentum Indicator on flat rolled products from Neutral to Higher. We continue to reference plate Price Momentum at Lower. This move is being made after the domestic steel mills, led by Nucor, announced two rounds of $40 per ton price increases over the past two weeks. SMU is […]
We should get a better handle and read on the market, and the strength of the market over the next one to two weeks. The Fourth of July Holiday is over, people are returning to work and decisions are going to have to be made regarding purchases for September through fourth quarter. As you can […]
SMU NexGen Leadership Award – Nomination Deadline Aug. 1, 2019 – Award to be Given at SMU Steel Summit Conference The first SMU NexGen Leadership Award – sponsored by the Steel Manufacturers Association – will be awarded at the 2019 SMU Steel Summit Conference We are looking for qualified people in the industry (manufacturing, service […]
The 2019 SMU Steel Summit Conference will be held at the Georgia International Convention Center (www.GICC.com) on Aug. 26-28, 2019. Here are some important items you need to know before booking, after booking and before you get to the conference. SMU Steel Summit Conference – Status of Hotel Room Blocks Atlanta Airport Marriott Gateway (host […]
The 2019 SMU Steel Summit Conference will be held at the Georgia International Convention Center (www.GICC.com) on Aug. 26-28, 2019. Here are some important items you need to know before booking, after booking and before you get to the conference. SMU Steel Summit Conference – Status of Hotel Room Blocks Atlanta Airport Marriott Gateway (host […]
SMU Steel 101: Introduction to Steel Making & Market Fundamentals Workshop – Oct. 8-9, 2019 – Cincinnati, Ohio You can learn more about the program, costs and how to register on our website: www.SteelMarketUpdate.com/Events/Steel101 Hotel is The Westin Cincinnati, 21 East 5th St., Cincinnati, OH 45202 Hotel reservation phone number is 513-621-7700 (note, you may […]
SMU Steel 101: Introduction to Steel Making & Market Fundamentals Workshop – Oct. 8-9, 2019 – Cincinnati, Ohio You can learn more about the program, costs and how to register on our website: www.SteelMarketUpdate.com/Events/Steel101 Hotel is The Westin Cincinnati, 21 East 5th St., Cincinnati, OH 45202 Hotel reservation phone number is 513-621-7700 (note, you may […]
I am carefully watching flat rolled and plate lead times, the ongoing negotiations and tone of the discussions between buyers and sellers of steel, as well as industry sentiment and how service centers are handling their spot pricing into their customers. We are seeing some signs of momentum shifting on some products (especially coated), but […]
Over 800 executives are registered with just seven weeks to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our […]
Over 800 executives are registered with just seven weeks to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our […]
Welcome back from the Fourth of July Holiday (at least here in the United States). Steel Market Update gave our employees a couple of days off as we prepare for the next big push all the way to Atlanta and the SMU Steel Summit Conference on Aug. 26-28. A few minutes after I told those […]