In spite of the widely reported decline in import volume, import market share increased in the second quarter. Last week we reported that June was the eighth consecutive month in which imports were down by more than 20 percent compared to the same month last year. This has not been the case for import market […]
This report examines the import share of sheet, plate, long and tubular products and 16 subcategories. Since January 2020, imports’ share of the total sheet products has been 14.5 percent, down from 21.4 percent in 2015. The import share of HRC has been below 10 percent since January 2019. The most striking finding in this […]
Average mill lead times for spot orders of flat rolled steel saw little change this past week. In fact, according to Steel Market Update’s surveys of the market, lead times have moved up or down by just a day or two, depending on the product, since the beginning of the year. Lead times for steel delivery […]
Price negotiations have tightened up noticeably as the mills seek to collect the $40 price increase they announced last week. Significantly more of the service center and manufacturing executives responding to Steel Market Update’s questionnaire this week said the mills are holding the line on prices, especially for hot rolled and galvanized. In the hot […]
Steel Market Update’s canvass of the market on Monday and Tuesday indicates that flat rolled steel prices have moved up by $10-20 per ton following last week’s price increase announced by domestic steelmakers. With the help of higher scrap prices expected in March, the mills are hoping to reverse the slide prices have experienced since […]
With the exception of coated steels, prices continue to weaken as uncertain market conditions and concerns over the potential fallout from China’s coronavirus weigh on market sentiment. Steel Market Update maintains its Price Momentum Indicator at Lower. Here is how we see prices this week: Hot Rolled Coil: SMU price range is $540-$580 per ton […]
Based on the results from the flat rolled and plate steel market trends analysis Steel Market Update conducted this past week, along with new steel price discussions SMU had with steel buyers late last week, we have decided to move our flat rolled (hot rolled, cold rolled, galvanized and Galvalume) price Momentum Indicators to Lower […]
Earlier today I moved our Price Momentum Indicator to Lower from Neutral. I explained my reasoning in an article in tonight’s issue. What happens should one of the steel mills announce a price increase within the next couple of weeks? With scrap poised to move higher, and lead times being decent at most of the […]
Mill lead times for spot orders of flat rolled steel have shortened slightly this month, though not yet enough to signal a definite trend. The current numbers suggest the mills are still maintaining relatively healthy order levels, but a change may be in the works. Lead times for steel delivery are an indicator of demand […]
Price negotiations with the mills have continued to loosen up as it’s rapidly becoming a buyer’s market. The vast majority of service center and manufacturing executives responding to Steel Market Update’s questionnaire this week said the mills are open to price negotiations on nearly all products to win the orders. In the hot rolled segment, […]
The following article discussing the global ferrous derivatives markets was written by David Feldstein. As an independent steel market analyst, advisor and trader, we believe he provides insightful commentary and trading ideas to our readers. Note that Steel Market Update does not take any positions on HRC or scrap trading, and any recommendations or comments […]
Steel prices continue to lack a clear direction, as Steel Market Update keeps its price momentum at Neutral. SMU’s canvass of the market over the past two days shows hot rolled prices unchanged, cold rolled up and coated steels down. Plate prices also saw a small decrease. Here is how we see prices this week: […]
In three months through December, demand for total rolled products declined by 6.1 percent. This Premium analysis by Steel Market Update is based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import-export data from the U.S. Department of Commerce (DOC). It is meant as a more in-depth look compared […]
This report examines the import share of sheet, plate, long and tubular products and 16 subcategories. Since January 2019, the import market share of total sheet products has been below 15 percent with an 11-month average of 14.0 percent. The import share of HRC has been below 10 percent since January 2019. The most striking […]
Steel prices finished 2019 on an upward trajectory, giving the market hope for a stronger 2020. That trend proved short-lived, however, as prices stalled in January and February, leaving both buyers and sellers wondering what to expect in the weeks and months ahead. Steel prices rose in November and December on a series of price […]
Steel Market Update’s Price Momentum Indicators remain at Neutral for all flat rolled and plate products. Steel prices moved sideways to down slightly again this week as the market lacks a clear direction. Here is how we see prices this week: Hot Rolled Coil: SMU price range is $560-$600 per ton ($28.00-$30.00/cwt) with an average […]
Imports of steel rolled products have declined every month since May 2018, year over year, with the greatest decline in January 2020, according to government data. Total rolled product imports in January were down by 35.5 percent on a three-month moving average (3MMA) basis. This follows the 27.8 percent decrease in November on the same […]
Earlier today, Steel Market Update adjusted our Price Momentum Indicators on hot rolled, cold rolled, galvanized and Galvalume to Neutral. What this means is we see market prices in transition, or in a holding pattern, and we no longer expect prices to rise over the next 30 days. Prior to today we had momentum on […]
Mill lead times for spot orders of flat rolled steel extended by more than a week during last year’s fourth quarter, but so far this year have been fairly flat. The average lead time for orders of hot roll is now a bit less than five weeks, cold roll around six and a half weeks […]
Price negotiations between steelmakers and steel users have loosened considerably on most steel products. Buyers report some new wiggle room in talks over spot prices. In the hot rolled segment, nearly three out of four of the steel buyers responding to SMU’s questionnaire this week (74 percent) said the mills are now more willing to […]
Steel prices can’t seem to gain any traction, as hot rolled, cold rolled and plate saw small declines this past week, while coated steel prices saw a small uptick. Steel Market Update’s Price Momentum Indicators remain pointing higher, but with less confidence about the trend. Here is how we see prices this week: Hot Rolled […]
If you want to get a better feel for what you can learn and the value of our Steel 101 workshop, listen to what a couple of our most recent attendees had to say: “This is a great workshop where the ABC’s of the steel business are spelled out quite clearly, even for someone new […]
If you want to get a better feel for what you can learn and the value of our Steel 101 workshop, listen to what a couple of our most recent attendees had to say: “This is a great workshop where the ABC’s of the steel business are spelled out quite clearly, even for someone new […]
Except for a small decline in coated products, steel prices remained largely unchanged in the past week, according to Steel Market Update’s latest check of the market. While SMU’s Price Momentum Indicators continue to point higher, we’ll be watching closely to see if the uptrend in prices is losing steam. Here is how we see […]
Lead times for hot rolled and cold rolled steel have flattened out, seeing little change in the past month, as measured by Steel Market Update. Lead times for steel delivery are an indicator of demand at the mill level. The longer the lead time, the busier the mill. Lead times in general are about a […]
Negotiations between steelmakers and steel buyers on new spot orders appear to have loosened slightly on hot rolled and cold rolled, but not to levels we saw in late 3rd quarter 2019. In the hot rolled segment, the majority of buyers (58 percent) said the mills are now more willing to negotiate prices on HR, […]
Steel Dynamics reported record steel shipments of 10.8 million tons and net sales of $10.5 billion in 2019 for the company’s second-best sales performance. Steel fabrication also set a yearly record with shipments of 644,000 tons, and almost doubled its operating income from 2018. Sales declined 11 percent to $11.5 billion from the record high […]
I have been spending time looking at market momentum, lead times (real, not from our survey), who is buying and who is not (and why), and what the market should be concentrating on over the next couple of months (not just today). I am going to start with comments I got from a couple of […]
Steel prices, which have been trending upward for the past two months, gave a bit back this past week, according to Steel Market Update’s latest check of the market. Whether this is a change of direction or just a brief pause remains to be seen, but SMU’s Price Momentum Indicator continues to point higher. Here […]
2019 was a challenge for steel suppliers, with both demand and pricing on a downward slope for the first three quarters of the year. Although it’s still early, there are signs 2020 could prove to be a better year for the steel industry. Steel mills, and the service centers that process and distribute their products, […]