Galvanized steel buyers on Tuesday discussed the eerie stability in sheet prices of late. Expectations are for the murky market to persist in the short term, while glimmers of hope continue for prices pushing higher.
Swampy. Sticky. Mushy. Murky. These were all words galvanized buyers used this week to describe the current state of the US steel market.
Galvanized prices have fallen precipitously from a month ago, though many market participants think a bottom is in sight.
The International Longshoremen’s Association (ILA) and United States Maritime Alliance (USMX) have just over two months left to reach a new labor agreement and avoid a strike at all Atlantic and Gulf Coast ports. However, with talks still suspended, ILA’s president says a strike looks more likely with each passing day.
It was great to have Gary Stein, CEO of Triple-S Steel, join SMU for a Community Chat earlier this week. (Btw, you can find a record of the webinar here.) We covered a lot of ground. From Andrew Carnegie and the Johnstown Flood to the current steel market and the state of domestic manufacturing broadly speaking. One thing that stuck with me was how unevenly construction spending appears to be on “green” initiatives and other key items funded by infrastructure spending, the Inflation Reduction Act, and the CHIPS Act.
Galvanized prices have tumbled from a month ago, and many market participants expect that trend to continue in July.
Prices for galvanized products have fallen from last month, and many market participants expect tags to continue their descent or at best remain flat in the month ahead.
Galvanized buyers reported steady demand and ample supply this week as pricing momentum has shifted, potentially pointing down. Service centers, distributors, and manufacturers who are members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association met virtually on Tuesday, April 23, for the monthly meeting of HARDI’s Sheet Metal/Air Handling Council. Sentiment was noticeably […]
Galvanized buyers reported solid demand and balanced inventories this week and were anticipating the sheet price increase announced by Cleveland-Cliffs on Wednesday.
Sheet prices have fallen again this week on shorter lead times, higher imports, and potentially higher inventories. (We’ll see for sure when we release our service center shipment and inventory data next week.) I remember reporting almost exactly the same thing about a month ago and getting a fair amount of pushback. Not so much these days.
Prices for galvanized products have been falling for more than a month, and market participants expect this trend to continue in the near term.
Coming out of a strong fourth quarter, galvanized steel market participants are reporting an above-average start to January and are cautiously optimistic for 2024.
I want to thank the Heating, Air-conditioning & Refrigeration Distributors International (HARDI) for the opportunity to speak at their annual conference in Phoenix. I enjoyed the proceedings and participating in a panel for HARDI’s sheet metal/air handling council. I can’t recap all that we discussed in a few hundred words. But I’d like to share […]
Galvanized steel buyers reported a seller's market with steady demand, long lead times, and strong pricing on this month’s call of the Sheet Metal/Air Handling Council of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association.
Members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) were bullish at the Tuesday, Oct. 24, meeting of its Sheet Metal/Air Handling Council.
Sheet prices declined less than usual this week. Does that mean we’re nearing a bottom, or is it just a pause before the market moves lower yet again?
Despite economic headwinds in the headlines, the near-term future could prove brighter than expected, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the Tuesday, Sept. 26, meeting of its Sheet Metal/Air Handling Council.
We’re roughly a week removed from the 2023 Steel Summit and some of the discussions, both on stage and the the sidelines of the event, remain of critical importance to many in the industry.
Although some construction companies have a backlog, many jobs are getting put on hold, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) Sheet Metal/Air Handling Council.
For starters, thanks to Barry Zekelman, chairman and CEO of Zekelman Industries, for taking time for a Community Chat on Wednesday. Zekelman was, as always, sharp on steel. He also caught my attention and some of yours when he said he was interested in buying a steel mill.
For starters, thanks to Barry Zekelman, chairman and CEO of Zekelman Industries, for taking time for a Community Chat on Wednesday. Zekelman was, as always, sharp on steel. He also caught my attention and some of yours when he said he was interested in buying a steel mill. “I’ve dreamed of owning a steel mill […]
A stable market and steady lead times have led to decent demand, but companies are still keeping a close eye on where the market is headed, according HARDI members.
A stable market and steady lead times have led to decent demand, but companies are still keeping a close eye on where the market is headed, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the July 25 meeting of its Sheet Metal/Air Handling Council. During June’s meeting, 36% of […]
Companies should keep a watchful eye on pricing and lead times, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the June 27 meeting of its Sheet Metal/Air Handling Council. During May’s meeting, most HARDI participants thought that prices would continue to drop. Over half of the individuals thought it […]
As pricing and lead times continue to drop, buyers are keeping a close eye on the market, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the Tuesday, May 23, meeting of its Sheet Metal/Air Handling Council. Cautious optimism carried over from April’s meeting. Currently, 90% of galvanized buyers say […]
Galvanized sheet continues to experience stable demand but market sentiment is waning, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the March 22 meeting of its Sheet Metal/Air Handling Council. Bullishness has subsided from sentiment in February. With lead times approaching eight weeks, HARDI members are experiencing tighter inventories and delayed […]
Sheet prices are up again. By a lot. For the third time this month. And it’s not over yet! Nucor alone is up more since Thanksgiving ($310/per ton) than they were after the invasion of Ukraine ($275/ton), according to our price increase calendar. We had obvious drivers for the last two big rallies. The snapback […]
Galvanized sheet continues to be in high demand, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) Sheet Metal/Air Handling Council. Since the January HARDI meeting, prices have increased, lead times have extended, scrap is up, and zinc is down. Despite the roller coaster, HARDI members remain bullish on demand in general. […]
Demand for galvanized sheet is stable, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) Sheet Metal/Air Handling Council. A few high points from this month’s meeting are that prices have climbed for the first time since April, import levels are low, and the spread between hot-rolled (HR) and galvanized material is […]
This is the final Final Thoughts of 2022. We made it! This time last year I was talking to customers about processing orders. This year I’m writing about market tends. So things are a bit different. But I still notice the steel industry’s typical holiday lull. This week we saw that consumer confidence increased, the USW […]