When will steel prices plateau? There seem to be two schools of thought on the subject. Many predict prices will peak in March/April, according to Steel Market Update’s surveys of the market. Most members of the Heating, Air Conditioning & Refrigeration Distributors International say they don’t see market prices changing direction before mid-summer. HARDI is […]
“If you’ve tried to buy steel in the last six months, it’s a very frustrating climate,” said one member of the Heating, Air Conditioning & Refrigeration Distributors International during their monthly conference call this morning. HARDI is a trade group representing wholesalers who supply galvanized and other products to the construction/HVAC market. Demand is strong […]
“If you’ve tried to buy steel in the last six months, it’s a very frustrating climate,” said one member of the Heating, Air Conditioning & Refrigeration Distributors International during their monthly conference call this morning. HARDI is a trade group representing wholesalers who supply galvanized and other products to the construction/HVAC market. Demand is strong […]
The good news still outweighs the bad news in the construction/HVAC market, report wholesalers of galvanized steel products. During their monthly conference call this morning, members of the Heating, Air Conditioning & Refrigeration Distributors International (HARDI) said demand is strong across the country and has not been diminished by the record high steel prices, at […]
Steel buyers are resigned to paying record-high steel prices, if that’s what it takes to get the material they need to keep business moving. In their monthly conference call today, members of the Heating, Air Conditioning & Refrigeration Distributors International reported that demand for HVAC and construction products has seen little slowing, though they are […]
Wholesalers who sell galvanized steel products to the construction and HVAC markets are skeptical of analysts’ predictions of a big price correction in the next few months. Judging by the persistently strong inquiries from their customers, most believe the experts underestimated steel demand as prices were on the way up and may do the same […]
Forecasts of weakness in commercial construction have not played out as analysts expected, at least not yet, contend members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI). Robust demand for HVAC and other galvanized steel products has shown no signs of abating, said members of the wholesale trade group during their monthly conference call […]
Forecasts of weakness in commercial construction have not played out as analysts expected, at least not yet, contend members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI). Robust demand for HVAC and other galvanized steel products has shown no signs of abating, said members of the wholesale trade group during their monthly conference call […]
The market for secondary steel is even tighter than the market for prime steel, report service center sources. Secondary steel is a niche market occupied by a handful of distributors who specialize in finding homes for coils that have been rejected by their original buyers. Some coils may have minor surface flaws, others may have […]
The laws of economics state that rising prices eventually cut into demand. With hot rolled steel prices at a record high of $1,080 per ton, has steel demand begun to suffer? Comments from the service center and OEM executives responding to Steel Market Update’s questionnaire this week were evenly divided. “No, the high steel prices […]
Hot rolled steel prices are venturing into uncharted territory as an unprecedented combination of variables—idled capacity, short supplies, limited imports and an economy that’s surprisingly strong despite the pandemic—keep pushing them higher. Assuming that today’s record-high prices are unsustainable for the long-term, Steel Market Update asked in its survey last week: At what level do […]
Current Sentiment among steel buyers, as measured by Steel Market Update’s Jan. 4 questionnaire, saw a small increase, while Future Sentiment saw a small decrease, suggesting that service center and OEM executives feel more confident about their immediate prospects than they do about the uncertainty ahead. As one commented: “We ended 2020 struggling to get […]
Hot rolled lead times were slightly shorter this week, but lead times for other products were the same or slightly longer, based on Steel Market Update’s first check of the market in the new year. Lead times for deliveries of hot rolled were still highly extended at an average of nearly eight weeks, and it’s […]
With steel in such tight supply as 2021 gets off to a fast start, it’s clearly a seller’s market, with little to no price negotiation between buyers and the mills. Based on Steel Market Update’s check of the market this week, average hot rolled steel prices have surpassed $1,000 per ton. SMU has received anecdotal […]
Nucor Tubular Products notified customers Wednesday that it will increase pricing on all new orders for HSS, pipe, mechanical and piling products by $100 per ton as a result of the strong demand and rising costs of raw materials and transportation. All orders booked prior to this announcement will be price protected for shipments through […]
Nucor Tubular Products notified customers on Wednesday, Jan. 20, that it will increase pricing on all new orders for HSS, pipe, mechanical and piling products by another $150 per ton as a result of the strong demand and rising costs of raw materials and transportation. All orders booked prior to this announcement will be price […]
David Samrick, Chairman and CEO of Mill Steel Co., has transferred ownership of the flat rolled steel distributor to company President Pam Heglund, granddaughter of founder Harry Samrick. Heglund, along with the current executive team and fellow owners Joe Poot, Rob Vella and Marc Rabitoy will carry forward the Samrick family legacy. The transition will be seamless for […]
Looking back at the past year, 2020 was not the disaster many in the steel industry had feared. And looking ahead, 2021 appears even more promising, say OEM and service center executives polled by Steel Market Update last week. Despite an economy that struggled with the COVID pandemic, as well as civil unrest and an […]
Sentiment among steel buyers, as measured by Steel Market Update’s Dec. 21 questionnaire, saw a small dip as the year comes to a close on concerns about tight steel supplies. As one respondent said, “We need supply in order to be successful. I am not able to line that all up so far for 2021.” […]
Steel Market Update’s check of the market a few days before Christmas shows no let-up in steel demand, as prices continue to rise and lead times continue to extend. With steel supplies remaining extremely tight, lead times for deliveries of hot rolled have stretched to more than eight weeks and coated steel orders to around […]
Based on Steel Market Update’s check of the market this week, hot rolled steel prices are nearing $1,000 per ton, within sight of a record high. With service centers and OEMs willing to pay such high prices in order to secure inventory in a tight market, it’s no surprise the buyers report little willingness among […]
ArcelorMittal USA notified customers on Wednesday that it is increasing its base pricing for plate to a minimum of $900 per ton “in order to capture escalating costs and to restore the market value for steel plate products.” Now owned by Cleveland-Cliffs, ArcelorMittal USA no longer quotes delivered prices but rather the price ex works […]
With hot rolled steel fast approaching $1,000 a ton, it’s only a matter of time before prices begin to cut into demand. Some SMU sources already report early signs of a demand shift. Others are less concerned about the volume of orders than about where they will get the steel to fill them if supplies […]
Not only are wholesalers who service the HVAC and construction industries wondering how high galvanized steel prices can possibly go, they’re even more worried about how low prices could go once the market normalizes next year. In a conference call this morning, members of the Heating, Air Conditioning & Refrigeration Distributors International (HARDI) reported firm […]
Nucor’s Plate Group notified customers of another increase in base prices on its plate products Monday, marking the fourth such announcement since late September. Nucor no longer quotes delivered prices, but rather base prices ex works the mill. Effective immediately Nucor’s EXW plate pricing is as follows: • As-rolled discrete/CTL grade A36 Base 3/8”-2”, $40.00/cwt […]
How much higher can steel prices go? It’s impossible to know, but given the current lead times, level of demand and the support higher prices are getting from distribution, and it appears prices may have some more upside. Steel Market Update estimated the average HRC price this past week at $865 per ton, with reports […]
Steel supplies are so tight these days that $1,000 hot rolled is not out of the question. Which makes predictions of a coming “Steelmageddon” seem that much harder to believe. In fact, 60 percent of the service center and manufacturing executives who responded to Steel Market Update’s questionnaire this week do not view Steelmageddon as […]
U.S. Steel has acquired the remaining 50.1 percent stake in the Big River Steel mill in Osceola, Ark., paying $774 million in cash, giving it full ownership of one of the most advanced flat-rolled minimills in the United States. U.S. Steel paid $700 million for a 49.9 percent share in BRS in 2019, making its […]
Manufacturing has continued to reshore back to the United States this year, despite the challenges presented by COVID-19. Reshoring will continue to be an essential part of the recovery of the U.S. economy in 2021 and beyond, said Harry Moser, founder of the Reshoring Initiative, an advocacy group he formed in 2010 to bring manufacturing […]
SSAB Americas notified customers Wednesday that it is increasing transaction prices by $40 per ton on non-contract orders of its plate products “to maintain fair market value for its products.” The increase applies to As-Rolled Mill Plate, Cut-To-Length Plate >72”, Hot Rolled Coils >72”, Normalized Plate and Quenched & Tempered Plate shipped via preferred freight […]