Steel Market Update asked steel buyers how they were seeing the flat rolled steel market so far this week. One large Midwest based service center told us, “Eerily quiet.” Other buyers basically provided the same guidance. Hot rolled order books continue to be weak to moderate while cold rolled and coated lead times are extended […]
The U.S. Department of Commerce updated foreign steel import license data this afternoon (February 23rd). Based on a daily license rate of 81,355 tons, February is trending toward 2.2-2.3 million tons. This is slightly lower than the 2.4 million ton pace we saw based on license data through the 16th of February. At 2.3 million […]
We actually saw some pull back in hot rolled and cold rolled pricing. The amounts were minimal and, in our opinion, do not represent a deteriorating or change in market direction. The hot rolled market is not as strong as that of cold rolled which is not as strong as that of coated steels. Some […]
Steel Market Update conducted our flat rolled steel market trends analysis this week, a portion of which is dedicated to understanding domestic mill lead times from a group perspective. These lead times shown in the graphic below have nothing to do with the mill lead time sheets produced by the domestic mills. The data shown […]
Hot rolled continues to be the weakest product according to those responding to this week’s flat rolled steel analysis. We found 82 percent of our respondents reporting the domestic mills as willing to negotiate hot rolled pricing. This is much higher than the 54 percent we reported two weeks ago and takes us back to […]
All is quiet in the flat rolled steel markets as prices essentially moved sideways, even though we picked up on slightly different ranges which affected our averages slightly. Steel buyers should not interpret this to mean there is weakness in the current market. Instead it is just a normal ebb and flow that we pick […]
Flat rolled steel prices are beginning to stabilize according to the most recent revisions in the flat rolled steel indices followed by Steel Market Update. Benchmark hot rolled remained stuck at $410 per ton ($20.50/cwt) at both SMU and Platts while SteelBenchmarker, which reports prices twice per month, published their new HRC number as being […]
Over the past few weeks Steel Market Update has been reviewing the lead times being published and/or provided to their customers in order to see if there are any significant changes. As a general statement we have found cold rolled and coated steels (galvanized, Galvalume, galvannealed) have extended lead times and are the tightest of […]
This report summarizes total steel supply annually from 2007 through 2015 and year on year changes. It then compares domestic mill shipments and total supply to the market. It quantifies market direction by product and enables a side by side comparison of the degree to which imports have absorbed demand. Sources are the American Iron […]
Flat rolled steel prices remained relatively range bound over the past week with only one product, cold rolled, showing any movement other than sideways. While speaking to steel buyers around the country many of the discussions centered on lead times, demand and what will the mills do next regarding steel prices. The consensus of opinion […]
Flat rolled steel prices are moving higher albeit at a slow pace – especially for hot rolled coil which continues to be the weakest of the flat rolled products. SteelBenchmarker did not report new prices this week (they only report prices twice per month) so we will review what our index as well as Platts […]
On Friday the U.S. Department of Commerce released Final Census data for foreign steel imports for the month of December 2015. Imports totaled 2,342,582 net tons. We saw very low numbers on semi-finished (mostly slabs) which came in under 300,000 net tons. We also saw low numbers on OCTG, galvanized and other metallic (mostly Galvalume). […]
Many of you have read that hot rolled is the weakest product and that there is a significant spread between domestic hot rolled base prices and those of cold rolled and galvanized steel. Even with the energy markets being in the so-called “crapper” impacting the hot rolled order books, we are seeing stronger steel mill […]
As we mentioned in our previous article, flat rolled steel mill lead times have moved out by a week on hot rolled and as much as two weeks on cold rolled and galvanized. Galvalume lead times have remained decent but have not extended at this time but, that is to be expected for seasonal reasons. […]
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We saw mixed results for flat rolled steel price ranges and averages this week. We saw modest gains in hot rolled, cold rolled and Galvalume while galvanized remained the same as last week. Lead times remained short on hot rolled which continues to be the weakest product. We are also beginning to see “inquire” only […]
Four U.S. steel producers announced earnings this past week. During their earnings conference calls held with analysts the steel mills addressed questions/concerns regarding foreign steel being exported to the United States. The domestic mills filed trade cases against corrosion resistant steels (such as galvanized and Galvalume) as well as cold rolled and hot rolled steels. […]
Flat rolled steel prices continue to move higher this past week, based on what we saw in the indices we follow on a regular basis (SteelBenchmarker reported prices this past week). The weakest product continues to be hot rolled which has broken above the $400 level as the mills are pushing for $400-$420 per ton. […]
Hot rolled prices, which have moved $45 per ton (higher) since early December, did not move this past week. Hot rolled has been the weakest of products which both SDI and AK Steel alluded to in their earnings conference calls earlier today. However, we have seen lead times improve on cold rolled and coated steels […]
The U.S. Department of Commerce released foreign steel import license data through the 26th of the month late this afternoon. Based on the data to date, January imports are trending toward a 2.5 to 2.7 million net ton level. This would be slightly higher than December’s 2.6 million tons and above November’s 2.4 million tons. […]
We are seeing a divergence in the normal spread between hot rolled lead times and those of cold rolled and coated products. Normally, we would see HRC lead times at just a couple of weeks less than that of the other “higher value” products. With the demise of the energy segment of the industry that […]
Steel Dynamics’ struggling recycling segment widened the company’s net loss to $253 million in fourth quarter 2015. It was determined that the book value of the metals recycling segment recorded $435 million in non-cash goodwill and other related asset impairment charge. Excluding the metals recycling charges, adjusted net income was $22 million on net sales […]
Flat rolled steel prices slowly moved higher this past week according to the revisions made to the SMU and Platts steel indexes. Benchmark hot rolled prices were rose $5 per ton on the SMU index taking our number to $405 per ton. Platts kept their $410 per ton number the same on HRC from the […]
Based on the results of our flat rolled steel market analysis, all of the flat rolled lead times are averaging longer lead times than what we measured one year ago. The SMU steel market questionnaire found the average lead time on hot rolled coil (HRC) was 3.91 weeks, up from a 3.63 week average reported […]
As lead times move out (see article above) we traditionally find the mills less willing to negotiate flat rolled steel prices. We asked those taking our mid-January flat rolled steel market survey to provide us information regarding the willingness of the U.S. steel mills to discount or negotiate steel prices. Hot rolled, which has been […]
The domestic steel mills announced a new round of price increases earlier this month. Steel prices are responding by moving higher, at least by a portion of the second increase. We are hearing from our sources that the mills have been able to collect $40-$50 or essentially all of the first price increase by this […]
With all of the key flat rolled products, hot rolled, cold rolled and corrosion resistant steels involved in antidumping and countervailing trade suits and the results of the preliminary determinations coming out it can be daunting to keep track of where each case rests at this point in time. Steel Market Update reached out to […]
Flat rolled steel prices are beginning to catch some wind behind their backs this past week according to the various steel indices followed by Steel Market Update. Benchmark hot rolled prices moved from a low of $4 per ton (SteelBenchmarker at $386) to as much as $20 per ton (Platts at $410). What is undeniable […]
This report compares domestic mill shipments and total supply to the market. It quantifies market direction by product and enables a side by side comparison showing the degree to which imports have absorbed demand. Sources are the American Iron and Steel Institute and the Department of Commerce with analysis by SMU. Table 1 shows both […]
On Tuesday evening ArcelorMittal advised their customers of their intention to raise carbon flat rolled sheet prices. In an email to their customers the mill advised that they would be raising prices on hot rolled, cold rolled and coated steels (galvanized and Galvalume). The mill told their customers: “Effective immediately with all new quotations, ArcelorMittal […]