Flat rolled steel prices rose modestly this past week with averages adjusting higher by anywhere from $5 to $15 per ton. We are seeing a slightly larger spread between the highs and the lows. We are also seeing a larger spread in lead times out of the domestic steel mills based on our survey results […]
Hot rolled, cold rolled, galvanized and Galvalume spot prices continued to remain firm this past week – even as many of the domestic mills have not “officially” announced support for the price increases made by AK Steel and Severstal NA on the 7th of November. According to Steel Market Update (SMU) sources in both the […]
The U.S. Department of Commerce (DOC) released Final Census Data on steel imports for the month of September. Total imports (all products) were reported to be 2,818,675 net tons which is down slightly from the 2,878,367 net tons received during the month of August. Compared to last September (2012) there were 215,624 more tons received […]
With two mills announcing price increases this past week and the balance either following on a verbal basis or still considering what their position will be has made this week a transitional week. One where new prices are being quoted and customers move to place previously quoted orders – or are sitting back and waiting. […]
According to our latest steel market survey results, lead times have begun to move out on all of the flat rolled products scrutinized by Steel Market Update. Hot rolled lead times extended from 4.07 weeks to 4.36 weeks, cold rolled moved from 6.10 weeks to 6.38 weeks, galvanized moved from 6.26 weeks to 6.39 weeks […]
Spot flat rolled steel prices remained relatively stable compared to where they were at this point in time last week. Hot rolled was down $5 per ton however, we do not consider this to be a significant change. We caught a few more numbers this week at the lower portion of our range. However, the […]
The inputs which affect steel prices increased slightly during the month of September with the exception of shredded scrap and 58% Fe Iron Ore prices. Busheling and HMS scrap prices increased by $3 to $5 per ton in the Midwest. Iron ore spot pricing – which is measured out of China – showed one product […]
As we entered the month of October, flat rolled prices had been trending sideways for a number of weeks. On October 1st Steel Market Update measured benchmark hot rolled coil with an average of $635 per ton which was actually down slightly from the $640 recorded at the end of September. However, the mills had […]
The U.S. Department of Commerce is trying to catch up on the steel import licensing data after being affected by the government shutdown orchestrated by our representatives in Washington, D.C. The US DOC released Preliminary Census Data for September imports late last week. Imports continue to be at a high level although slightly lower than […]
Based on recently released data from the U.S. Department of Commerce, exports of steel rose slightly during the month of August to 1,147,411 net tons (all products). This represents an increase of 60,102 tons compared to the exports shipped during the month of July which totaled 1,087,309 tons. August exports of hot rolled totaled 86,065 […]
Flat rolled steel prices continued to rise over this past week. With the exception of Galvalume all of our averages increased by $5 per ton compared to this time last week. The domestic mills continue to be quite firm in their pricing stance and negotiations are limited (but not impossible). The market expects another round […]
The U.S. Department of Commerce released final August import numbers late last week. August steel imports rose by 368,606 net tons to 2,878,367 net tons due to higher slab, OCTG, cold rolled and hot-dipped galvanized imports. Slab imports were up by 140,252 tons over the prior month to 657,659 tons total. However, this was expected […]
The domestic steel mills continued to put pressure on spot market pricing which resulted in another small increase in our flat rolled price assessments for this week. We continue to hear from buyers that prices are only somewhat negotiable ($10-$30 per ton off of the price announcement levels). This is somewhat of a change from […]
Domestic mill lead times, which had been relatively flat since the beginning of September according to past SMU steel market surveys, are beginning to indicate a modest strengthening. Our survey respondents put hot rolled lead times at 4.07 weeks (last year in mid-October they were 2.93 weeks) which is up slightly from the 3.94 weeks […]
Steel Market Update (SMU) is seeing prices beginning to rise on all flat rolled products. With a couple minor exceptions mostly contained to the South, we have been seeing a united front and mills are telling SMU that they have been able to collect most, if not all, of the price increases announced. We continue […]
Buyers are telling Steel Market Update (SMU) that there have been some spot price offers which were held through the end of this past week. Most, however, are informing us that those mills who publicly announced new pricing are asking for increases and holding the line. We don’t doubt that there could be some orders placed […]
Based on our survey results, hot rolled and cold rolled lead times barely moved compared to two weeks ago. Galvanized lead times shrunk slightly from 6.00 weeks to 5.84 and Galvalume lead times dropped from 6.80 weeks to 6.33 weeks. The current lead times are longer than they were one year ago on all products […]
For the past three days, Steel Market Update has been canvassing those attending the Metalcon show in downtown Atlanta. We spoke with manufacturers associated with the metal building, architectural panel and various construction products as well as their service center, steel mill, trading company, paint and toll processors. We heard mixed results regarding 2013 versus […]
ArcelorMittal USA came out with new flat rolled base prices shortly after those announced by NLMK USA. In an email to their customers, AM advised, “Effective immediately, the following minimum base prices are applicable to all future orders accepted by Arcelor Mittal USA LLC for delivery by December 31, 2013.” The base prices presented were […]
With the new pricing announcements we have gotten quite a mix bag of responses regarding flat rolled steel spot prices for this week. We have taken into consideration transactions, our survey results to date and offers which have been presented to buyers so far this week. By the time we went to publish we had […]
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 […]
The headline you are seeing both here and in other trade publications is total steel imports are up 13.9 percent in August based on just released Preliminary Census Data from the U.S. Department of Commerce. Total imports rose from 2,520,506 net tons in July to 2,870,266 net tons in August. When looking at flat rolled, […]
We are finding a concerted effort on behalf of the domestic steel mills to hold the line on spot pricing from last week to this week. Stability in pricing appears, for the moment, to be the new normal and some of the service centers are questioning if the next price move might actually be for […]
SMU found lead times essentially remaining the same on hot rolled (negligible change from 4.0 weeks to 3.97 weeks) and galvanized (6.0 weeks vs. prior 6.07 weeks). Cold rolled lead times dropped from 6.2 weeks to 6.06 weeks while Galvalume lead times moved out slightly from 6.55 weeks to 6.80 weeks. Lead times are […]
Steel Dynamics offered guidance on Tuesday saying it anticipates a better third quarter as compared to the second quarter due to increase in shipments and average metal spread (spread being the difference between steel costs and selling prices). In the sheet steel segment higher volumes and better spread increased profits, while in the long products […]
We noticed a little slippage in flat rolled steel prices over the past week. As one steel executive put it to SMU this afternoon, “Prices are in retreat – only at a snail’s pace.” One of our manufacturing sources told us that they had seen prices slip over the past two weeks, “We have seen […]
Other metallic coated (mainly Galvalume) imports July 2013 and YTD by source and port of entry. This is the fourth of an expanded series of analyses, exclusive to the Steel Market Update that is designed to provide a much more comprehensive view of actual flat rolled steel volume by product. This will enable a steel […]
Steel Market Update (SMU) has received many emails from our readers as well as interested parties regarding our SMU Price Momentum Indicator which we have had at Neutral since Friday, August 23, 2013. Since that time we have seen hot rolled pricing remain in the $630-$660 per ton level (see Comparison Price Indices article below) […]
Steel Market Update got the following from a steel trading company located in Canada: China has had 3 months of increases on galvanized, Galvalume and cold rolled coil. They expect another $15.00/MT increase with offers for Nov. rolling. (These will be announced 18-20 Sept). Taiwan is sticking to achieving higher than market price. Buyers are […]
Hot dipped galvanized imports July and YTD 2013 by source and port of entry: This is one of an expanded series of analyses, exclusive to the Steel Market Update that is designed to provide a much more comprehensive view of actual volume by product. This will enable a steel buyer or manager to see exactly […]