The following report was done by David Schollaert, the new analyst at Steel Market Update. He was asked to take a look at past market trends and to lay out scenarios for future trends. Obviously, there are black swan events (such as the Section 232 tariffs) which can push a market in one direction much […]
Flat rolled steel prices saw a big jump this week nearly equivalent to the $50 per ton increase announced by the mills last week. Steel Market Update’s latest check of the market puts the current benchmark price for hot rolled at $650 per ton. The mills also announced price increases on plate last week, with […]
Lead times for spot orders of hot rolled and Galvalume steels continued to lengthen a bit over the past two weeks, while lead times for cold rolled, galvanized and plate products were flat to slightly lower. Lead times for hot rolled now average more than five and a half weeks, cold rolled more than seven […]
It’s a seller’s market as the mills hold firm in price talks on hot rolled, cold rolled and coated steel orders, while they seek to collect the higher prices announced this week in an improving market, according to respondents to Steel Market Update’s market trends questionnaire. About 77 percent of the hot rolled steel buyers […]
Mills continue to stand firm in price talks on hot rolled, cold rolled and coated steel orders as they seek to collect the $40-50 price increases they announced two weeks ago, report respondents to Steel Market Update’s market trends questionnaire. Based on SMU’s latest check of the market, the benchmark price for hot rolled steel […]
Looking at the month-on-month changes in steelmaking raw materials costs, the prices of iron ore, pig iron and zinc have continued to experience noticeable gains, a pattern seen since the beginning of Q3 2020. As expected, scrap prices have bounced back after the downturn seen in the summer months, providing support to higher finished steel […]
Steel prices continue to see some upward momentum as flat rolled and plate prices rose by another $5-15 per ton, according to Steel Market Update’s check of the market this week. The mills announced further $40-50 price hikes on plate on Monday and Tuesday in hopes of sustaining that momentum. Here is how we see […]
From one of our SMU readers to John Packard, President & CEO of Steel Market Update, “Welcome back… Regarding steel, wow. What a difference a month (or, a month and half) makes!” A second reader told us, “Market pricing and lead-times have moved aggressively…and rapidly. Many are finding themselves too late to the party.” It […]
Flat rolled steel prices continue to rise as demand improves, lead times extend and supplies remain a bit tight. Prices rose a further $10-40 per ton, based on Steel Market Update’s check of the market this week, with hot rolled reaching the psychological high mark of $600 per ton. SMU’s price momentum indicators remain pointed […]
Flat rolled steel prices continue to rise as demand improves, lead times extend and supplies remain a bit tight. Prices rose a further $10-40 per ton, based on Steel Market Update’s check of the market this week, with hot rolled reaching the psychological high mark of $600 per ton. SMU’s price momentum indicators remain pointed […]
I am back. One of the questions I got on this morning’s HARDI steel conference call was if I really did go off the grid and not stay in touch with the market over the 24 days that I was away from my office? The answer was I rented a cottage about as far off […]
Service centers and and other buyers traditionally jump into the market to buy ahead of rising steel prices. Steel prices are clearly on the rise, but only about one-third (33 percent) of buyers responding to Steel Market Update’s questionnaire this week said they feel it’s time to add inventory. Their comments reveal some disagreement about […]
Lead times for spot orders of flat rolled and plate steels continue to extend and are around two weeks longer than in April at the depth of the pandemic as demand recovers and supplies tighten. Lead times for hot rolled now average five and a half weeks, cold rolled and galvanized over seven weeks, and […]
With steel prices on the rise and another round of increases in play, the mills appear to have the upper hand in negotiations. The mills are holding the line in price talks on hot rolled, cold rolled and coated steel orders, as well as plate, according to respondents to Steel Market Update’s market trends questionnaire […]
National level import reports do a good job of measuring the overall market pressure caused by the imports of individual products. The downside is that there are huge regional differences. This report examines other metallic coated imports (mainly Galvalume) by region through July 2020. In July, OMC imports were down by 1.3 percent at the […]
Nothing like a spike in steel prices to give the market a much needed attitude adjustment, one the mills and service centers can really use as the pandemic continues to weigh on day-to-day operations and individuals’ emotions. Steel prices have jumped by nearly $140 per ton in the last month. SMU’s Steel Buyers Sentiment Index, […]
Better-than-expected demand and higher scrap prices have allowed the mills to boost flat rolled and plate steel prices, with the benchmark average for hot rolled reaching $580 per ton, according to Steel Market Update’s check of the market this week. With a few mills announcing new increases on flat rolled on Monday and Tuesday, the […]
Steel Market Update’s check of the market this week shows prices for hot rolled, cold rolled and coated steels up by $20-30 per ton as demand continues to improve, lead times extend and scrap prices rise. The benchmark price for hot rolled steel now averages $540 per ton, up $100 from the low point in […]
Lead times for spot orders of flat rolled and plate steels have extended by about a week over the past month as demand continues to recover and buying picks up ahead of rising prices. Lead times for hot rolled now average nearly five weeks and coated products more than seven weeks. Lead times are an […]
Flat rolled steel is no longer a buyer’s market as the mills appear less willing to negotiate while they try to collect the price increases they announced late last month. Steel Market Update’s market trends questionnaire this week shows the majority of buyers reporting mills holding the line in price talks on hot rolled, cold rolled […]
Mills have hiked prices on flat rolled and plate steels in the past 10 days and it appears they will collect at least a portion of the increases. Steel Market Update’s check of the market this week shows prices up as much as $30 per ton, depending on the product, on top of a $10 […]
Among steelmaking raw materials, the prices of iron ore, pig iron and zinc have seen big gains in the past three months. Scrap prices have been challenged, but saw some improvement in August, notably in the coastal regions, and are expected to rise in September, lending support to higher finished steel prices. Table 1 summarizes […]
Prices for flat rolled steel products moved up by as much as $20 per ton in the past week, while plate increased by $10, according to Steel Market Update’s check of the market on Monday and Tuesday. SMU’s Price Momentum is higher on sheet products, but Neutral on plate products, as the plate mills’ price […]
Galvalume supplies are shaping up to be tight in the fourth quarter, but fears of a shortage may be overstated, sources tell Steel Market Update. Despite a recent press report to the contrary, Galvalume is one of the strongest steel sectors right now. “There is no shortage at the right price,” said one mill executive. […]
Last week Steel Market Update adjusted all of the flat rolled price momentum indicators from Neutral to Higher. We made the decision to move hot rolled, cold rolled, galvanized and Galvalume to higher due to prices already beginning to track up from the low levels achieved over the past couple of weeks. We also made […]
Steel Market Update’s check of the market this week shows hot rolled offers typically in the $460-$480 range. But sources tell us actual transactions are occurring anywhere from $480 down to $400, depending on volumes and other considerations. Thus, SMU puts the current benchmark price for hot rolled at $440 per ton, down $10 from […]
Steel Market Update’s check of the market this week shows flat rolled steel prices firming up a bit as demand slowly recovers from the coronavirus disruptions. SMU puts the current benchmark price for hot rolled at $465 per ton, up from $440 last week. SMU’s Price Momentum Indicators remain at Neutral, though the market may […]
The service center and manufacturer executives who read Steel Market Update have been telling us for some time that they believe steel prices are near the bottom and poised to turn around soon. Our latest check of the market, with flat rolled steel prices up anywhere from $15 to $25 per ton, suggests the market […]
Lead times for spot orders of flat rolled steel from the mills were at their shortest in the week of April 30 as orders dried up due to the coronavirus. Since then lead times have extended by about half a week, but saw only minor fluctuations in June and July. Currently, lead times for hot […]
Lead times for spot orders of flat rolled steel are stretching out as demand improves and the mills get busier. Lead times for hot rolled and plate steels have extended past four weeks, while lead times for cold rolled and coated are now longer than six weeks. Lead times are an indicator of steel demand—longer […]