The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at steelmarketupdate.com, visit the Pricing and Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” Historical survey results are also available under that selection. If you need help accessing the survey results, or if […]
Steel mill lead times were largely unchanged this week, with hot rolled extending slightly and plate falling back marginally.
Domestic hot-rolled coil (HRC) is now cheaper than imported hot band as US tags have fallen further and at a faster clip than offshore product, according to SMU’s latest foreign vs. domestic price analysis.
Sheet prices have fallen this week, after a small pause last week when prices saw mixed results. Tags have now been largely trending lower since July.
Domestic and imported hot-rolled coil (HRC) prices are nearly parallel as US tags continue to erode at a faster clip than offshore prices, according to SMU’s latest foreign vs. domestic price analysis.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, sheet prices abroad, inventory, and what people are talking about in the market. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words.
Sheet prices were mixed this week after trending lower for most of July and earlier in August. SMU’s average hold-rolled coil (HRC) price slipped to $750 per ton.
Steel Market Update’s Demand Index remains in contracting territory, where it has been for most of the last four months, according to the latest survey data. While the market did react temporarily in response to mill price hikes in mid-June, apparent demand for flat-rolled steel in the US continues to trend down.
I’m excited to see pretty much the entire steel industry this week in Atlanta. I’m looking forward to the networking and to learning from our great lineup of speakers. I also what not draw your attention to some highlights from our latest steel market survey. (Full results are here.) Some of these topics will be discussed along the sidelines as well as up on the stage.
The latest SMU Market Survey results are now available on our website to all Premium members.
Mill lead times for most sheet products this week were basically flat compared to SMU's market check two weeks ago. Those for plate shortened once again.
Sheet prices slipped again, continuing a trend of lower week-over-week tags that began in mid-July.
US service center flat-rolled steel inventories spiked in July with a slowdown in shipments. At the end of July, service centers carried 56.1 shipping days of flat roll supply, according to adjusted SMU data.
CRU research manager Stephen Williamson shares his views of this week's aluminum market.
The spread between US and offshore hot-rolled coil (HRC) prices continues to narrow as domestic tags have declined further, according to SMU’s latest foreign vs. domestic price analysis.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, sheet prices abroad, inventory, and what people are talking about in the market.
SMU senior analyst David Schollert provides an overview of steel market indicators for the month of July.
This is a tough time to be in the forecasting business, especially when it comes to steel. You might have a battle-tested model based on the latest macroeconomic data, prices, inventories, and lead times. The catch: Whatever a forecast might showing now could be overshadowed by events next month. Namely, labor negotiations between the United Auto Workers (UAW) union and automakers General Motors, Ford, and Stellantis.
Steel Market Update’s Demand Index has now been contracting territory for the better part of the past 3-plus months, according to the latest survey data.
It feels like the market is in a bit of a holding pattern. Lead times are roughly sideways, according to our latest check of the market. Will they begin to extend now that most mills are into September not only for cold-rolled and coated products but also for hot band?
Movements in lead times were again mixed in SMU’s market check this week, with most products mostly sideways compared to two weeks ago.
The spread between US and offshore hot-rolled coil (HRC) prices has narrowed to its lowest level since mid-February, when domestic prices were still trending upwards, according to SMU’s latest foreign vs. domestic price analysis.
Our sheet prices are down again this week. Some of you think it’s a sign of something ominous, others think it’s just a case of seasonality. It might help to step back and put things in perspective.
Sheet prices slipped for the third consecutive week on continued discounts from certain mills for larger buyers.
There is a lot going on at SMU right now. We’re going to be rolling out a new website over the next few days. We’ve also got more than 1,200 people registered to attend Steel Summit this year, putting us on pace to potentially break last year’s attendance record of nearly 1,300. The event is […]
Most metal formers predict business conditions will remain stable over the next three months, according to the July 2023 Precision Metalforming Association (PMA) Business Conditions Report.
Most metal formers predict business conditions will remain stable over the next three months, according to the July 2023 Precision Metalforming Association (PMA) Business Conditions Report. PMA’s July report said that 55% of the metal-forming companies the association surveyed expect no change in general economic activity in the next three months vs. 58% in June. Thirty-four […]
The US HRC Futures market has been on a roller-coaster ride since our last update (green). In early July, the front month futures contracts surged significantly as news of Steel Dynamics Inc.’s (SDI’s) Sinton, Texas, mill outage trickled through the market (blue).
The US HRC Futures market has been on a roller coaster ride since our last update (green). In early July, the front month futures contracts surged significantly as news of Steel Dynamics Inc.’s (SDI’s) Sinton, Texas, mill outage trickled through the market (blue). However, the futures quickly reversed course and experienced a sharp decline, following […]
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, import offers, and inventory. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your thoughts, too! Contact david@steelmarketupdate.com to be included in […]