September ended with the SMU Price Momentum Indicator pointing toward Neutral. In light of the price increase announcements beginning to come out of the domestic steel mills we will continue our Neutral position allowing all the mills to announce (or not) and buyers to react before making a change toward one direction or another. SMU […]
Each month the Bureau of Labor Statistics puts out its series of producer price indexes, for thousands of goods and materials. The latest release on Friday reported August results. These statistics are a useful way to evaluate any changes in the competitive position of steel against competing materials. For the purpose of this report, Steel […]
By the end of August SMU had adjusted our Price Momentum Indicator from Higher to Neutral, SMU Steel Buyers Sentiment Index averaged +40 which is higher than the average from June and July and well within the optimistic range of our Index. Benchmark hot rolled prices moved essentially sideways as the numbers show below. […]
The main issue driving steel prices during the month of July was supply and the constraints in supply related to production issues at the North American steel producers. U.S. Steel Lake Erie Works continued to be on lockout throughout July. The 2.5 million ton a year slab and hot rolled mill was first locked out […]
The domestic steel mills paid more for their scrap during the month of July than the month prior. The higher scrap inputs were one reason behind the domestic mills announcing more price increases as the month progressed. Spot iron ore (China) pricing rose during the month of July and ended the month with 62% Fe […]
From Steel Market Update perspective there are a number of keys to watch during the month of August: • Scrap prices: Shredded scrap prices are forecast to be down $10-$20 per gross ton due to oversupply. Other scrap grades such as cut grades and prime are forecast to be sideways to down $5 per […]
Written by: Peter Wright Producer price indexes, (PPI), of sheet steel and competing materials. Each month the Bureau of Labor Statistics (BLS) puts out its series of producer price indexes, for thousands of goods and materials. The latest release on Thursday reported February results. Some of the PPI are helpful in monitoring the competitive price […]
Steel Market Update received the following information from an ArcelorMittal spokesperson this evening: On February 19, 2013, the United States Patent and Trademark Office (USPTO) posted a Notice of Allowance of a re-issue of ArcelorMittal pioneer patent US 6 296 805 on aluminum pre-coated steel product for hot stamping, worldwide known as Usibor®, confirming its […]
Reliance Steel & Aluminum announced Wednesday morning a definitive merger agreement whereby Reliance will acquire all outstanding shares of Metals USA Holdings Corporation for approximately $1.2 billion. This will make Reliance the largest service center chain in North America with assets over $6.5 billion and annual sales in excess of $10.0 billion. The transaction is […]
BALTIMORE, Md., January 1, 2013 – MoveTran, LLC will begin operations to provide transloading and logistical services for steel coil, aluminum, pipe, tube and other types of products in the Northeastern and Mid-Atlantic regions. MoveTran recently acquired a 206,700-square-foot warehouse that offers customers rail and truck access as well as easy transport for transatlantic shipments […]
The month of December was best illustrated by the SMU Price Momentum Indicator which spent the entire month stuck in Neutral as flat rolled spot prices essentially moved sideways through the month. Whether using our index or the CRU price assessments, the monthly average on hot rolled was very close to where prices were measured […]