I’ll dive into the latest sheet market trends in a moment. But first some big news: We’re less than a month away from the start of SMU’s Steel Summit in Atlanta! Nearly 1,100 people were registered to attend when I last checked on Friday. The pace of registrations has picked up, so we’ll probably be […]
We’re just a month out from Steel Summit, so I decided to go back and check on how things look now compared to ~30 days ahead of the event last year. For starters, approximately ~1,100 people are registered to attend the event on Aug. 21-23 in Atlanta. That puts us on track to meet or […]
Movements in lead times were mixed this week, with those for hot rolled and Galvalume falling back marginally, and those for cold rolled, galvanized, and plate extending slightly. We’re still waiting for a clear pattern to emerge with lead times, as they seem to have been bouncing around since June and generally trending down since […]
In the past two months, the US Midwest Hot Rolled Coil (HRC) futures market has experienced significant fluctuations. The initial decline in prices led to destocking and low inventory levels. However, recent price increase announcements by mills halted the downward trend and even reversed it temporarily. The futures curve reflected short-term optimism but indicated that the […]
In the past two months, the US Midwest Hot Rolled Coil (HRC) futures market has experienced significant fluctuations. The initial decline in prices led to destocking and low inventory levels. However, recent price increase announcements by mills halted the downward trend and even reversed it temporarily.
Movements in lead times were mixed this week, with those for hot rolled and Galvalume falling back marginally, and those for cold rolled, galvanized, and plate extending slightly.
The US hot-rolled coil (HRC) premium over offshore product declined this past week, as prices abroad moved up while domestic tags declined, according to SMU's latest foreign vs. domestic price analysis.
We’re just a month out from Steel Summit, so I decided to go back and check on how things look now compared to ~30 days ahead of the event last year. For starters, approximately ~1,100 people are registered to attend the event on Aug. 21-23 in Atlanta. That puts us on track to meet or […]
The US hot-rolled coil (HRC) premium over offshore product declined this past week, as prices abroad moved up while domestic tags declined, according to SMU’s latest foreign vs. domestic price analysis. HRC tags stateside declined $20 per ton vs. the prior week, slipping to their lowest level since mid-February. Domestic prices are now down $290 […]
Hot-rolled coil prices remain rangebound between roughly $850-900 per ton ($42.50-45 per cwt), according to our latest market check. You could say that’s not news. Our HRC index settled at $870 per ton on Tuesday afternoon. A week-over-week decline of $20 per ton from $890 last week might be little more than noise. You’d want to […]
Sheet prices slipped by $20-25 per ton as hot-rolled coil (HRC) failed to break through the $900 per ton threshold some market participants had predicted it would. SMU’s average hot-rolled coil (HRC) price stands at $870 per ton ($43.50 per cwt), down $20 per ton from a week ago. Numbers at or around that figure […]
Editor’s note: Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact Lindsey Fox at lindsey@steelmarketupdate.com. Flat Rolled = 52.3 Shipping Days of Supply Plate = 58.1 Shipping Days of Supply Flat Rolled US service center flat-rolled steel supply edged up slightly in […]
The US Federal Reserve said that overall economic activity has inched up since May in its latest Beige Book Report released on July 12. The Beige Book is a compilation of information on current economic conditions, gathered by each district Federal Reserve Bank, and is published eight times per year. The newest report by the Fed on the state […]
Hot-rolled coil prices remain rangebound between roughly $850-900 per ton ($42.50-45 per cwt), according to our latest market check. You could say that’s not news. Our HRC index settled at $870 per ton on Tuesday afternoon. A week-over-week decline of $20 per ton from $890 last week might be little more than noise. You’d want to […]
US service center flat-rolled steel supply edged up slightly in June as daily shipments dropped to the lowest rate this year.
Sheet prices slipped by $20-25 per ton as hot-rolled coil (HRC) failed to break through the $900 per ton threshold some market participants had predicted it would.
The US Federal Reserve said that overall economic activity has inched up since May in its latest Beige Book Report released on July 12. The Beige Book is a compilation of information on current economic conditions, gathered by each district Federal Reserve Bank, and is published eight times per year. The newest report by the Fed on the state […]
I’ll get to the market in a minute. But first the big news, for us and we hope for you too. We crossed a big threshold this week with Steel Summit – more than 1,000 people are attending the conference on Aug. 21-23 at the Georgia International Convention Center (GICC) in Atlanta. Join more than […]
With demand trending lower throughout out the first half of 2023, the aluminum industry is searching for something to be optimistic about. Recent economic news is leaning positive, with inflation slowing across multiple measures including the Producer Price Index (PPI) and manufacturing final goods’ pricing. Personal consumption expenditure has slowed from its peak but sustained […]
Steel prices continued to erode in June, a trend that began halfway through April. Hot-rolled coil (HRC) prices ended June at $875 per ton (43.75 per cwt) on average, falling by $115 per ton throughout the month. The SMU Price Momentum Indicator for sheet products remained shifted to Neutral halfway through June, after turning Lower […]
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 […]
The US hot-rolled coil (HRC) premium over offshore product has changed little over the past few weeks, as both prices abroad and stateside have inched up in tandem recently, according to SMU’s latest foreign vs. domestic price analysis. HRC tags stateside are still down $280 per ton since peaking at $1,160 per ton back in […]
I’d halfway expected to see hot-rolled coil prices come down this week. A few of you made the case for price declines. The logic: softer demand meeting increased domestic supply and higher import volumes. Some of you also noted that lead times, while not bad, were hardly strong enough to support another round of price […]
Sheet prices inched up this week on less discounting from major mills and on expectations that activity could improve in the coming weeks as OEMs return to the market following widespread summer shutdowns in early July. SMU’s hot-rolled coil price stands at $890 per ton ($44.50 per cwt), up $10 per ton from last week […]
Steel Dynamics Inc. (SDI) last week announced a two- to four-week outage on the hot mill at its Sinton, Texas, flat-rolled mill. The company said on Friday, July 7, that the unplanned outage resulted from “caster shear equipment issues” that occurred on July 1, but that it will continue to operate the cold mill and coating lines. Steel Market Update has […]
Steel Dynamics (SDI) announced a two- to four-week outage on the hot mill at its flat-rolled steel mill in Sinton, Texas. The Fort Wayne, Ind.-based steelmaker said it expected the hot mill to restart before July 30. The company said in a release on Friday, July 7, that the outage, which was unplanned, resulted from “caster shear equipment […]
The LME aluminum 3-month price is moving down again after the 4th of July holiday and was last trading near $2,130 per metric ton (as of the writing of this article on July 7). The fact that the price resumed sharp declines and is not challenging the next resistance at $2,200 per metric ton shows […]
Lead times were broadly stable this week, with sheet products rising modestly and plate unchanged from SMU’s market check two weeks ago. More meaningful movements in lead times should be seen in the coming weeks as buyers return to the market after the Fourth of July holiday. Should the mills’ recent sheet price hikes take […]
Sheet prices were little changed this week amid typically slower activity around the Fourth of July. Market participants said that another round of sheet price hikes might come later this week or early next to shore up an initial round of price increases announced in mid-June. In the meantime, some of the heavy discounting that […]
SMU will be celebrating Independence Day along with the rest of you, so we won’t have an issue on Tuesday, July 4. I’ve highlighted three things to think about in the meantime whether you’re traveling to visit friends and family, stocking up on fireworks, or planning a quiet BBQ. Have Prices Found a Floor? We’ve […]