Hyundai Steel has halted output on some production lines and will be approximately 1.5 months late with some shipments because of a “guerrilla strike,” according to a letter to U.S. customers. “Since the strike is still ongoing and the effect of the production suspension(s) are yet to be calculated, we cannot designate the accurate quantity […]
Lead times for spot orders of most steel products appear to have leveled off a bit in the past two weeks, based on Steel Market Update’s latest check of the market. All flat rolled and plate products registered small declines except for Galvalume, which was the only one to see an increase in delivery times […]
Foreign or domestic? “More risk buying domestic….” I had some interesting conversations with steel buyers today as I have been trying to gauge the strength of domestic price support, and what will be the catalyst that will turn the tide. One large manufacturing steel buyer with operations around the world told me, “The prices will […]
Foreign or domestic? “More risk buying domestic….” I had some interesting conversations with steel buyers today as I have been trying to gauge the strength of domestic steel price support, and what will be the catalyst that will turn the tide. One large manufacturing steel buyer with operations around the world told me, “The prices […]
Hot rolled steel prices reached another eyebrow-raising milestone this week, hitting an average of $1,300 per ton ($65/cwt), which is an all-time record even adjusting for inflation from the previous high of $1,070 per ton recorded by Steel Market Update in 2008. Flat rolled prices rose by an additional $10-30 per ton as the market […]
Hot rolled steel prices reached another eyebrow-raising milestone this week, hitting an average of $1,300 per ton ($65/cwt), which is an all-time record even adjusting for inflation from the previous high of $1,070 per ton recorded by Steel Market Update in 2008. Flat rolled prices rose by an additional $10-30 per ton as the market […]
FOB mills prices aren’t the only thing on the rise – so too are service center resale prices, import tags and ocean freight rates. Service centers are selling amongst each other for nearly $1,400 per ton ($70/cwt), and certain master distributors are charging that much if not more for hot band, market participants said. That’s […]
By CRU Analyst George Pearson, from CRU’s Steel Sheet Products Monitor Details of China’s Tangshan emission control policy that circulated in the last week have provided a further boost to Chinese steel prices but have weighed on prices for iron ore. The high cost of freight is still reducing the competitiveness of sheet imports in […]
By CRU Analyst Dave Thewlis, from CRU’s Steel Long Products Monitor Prices among all types of long products rose again in April, the most challenged of which remains wire rod. February’s winter storms, which were extreme enough to cause a 2.2% m/m decline in U.S. industrial production, made a difficult situation worse for wire rod […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor The current global sheet market cycle is one which continues to reflect a strong demand rebound from the lows associated with various lockdowns in 2020 H1. It seems that in one market after the other, sheet production has failed to catch up with […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Sheet Products Monitor 21 Sheet prices in China and the Vietnamese import market paused this week as buyers slowed their pace of restocking. European prices continued to rise very sharply by historical standards, particularly for CR and HDG coil, for which the material shortage has become worse. In the USA prices are […]
By CRU Principal Analyst Josh Spoores, and Gregor Spilker, CME Group By early 2021 Q2, HRC prices in the U.S. Midwest market had tripled from the trough reached in August 2020. As prices rose from $437 /s.ton to a record high of over $1,300 /s.ton, CME Group’s U.S. Midwest HRC contract settled on CRU surged […]
By CRU Analyst George Pearson, from CRU’s Steel Monitor Chinese prices continued to buck the global trend this week as further government meetings about preventing higher steel prices being passed on to consumers were taken seriously by the market and trading activity reduced. Prices in Europe and the U.S. are still rising, with U.S. plate […]
By CRU Analyst George Pearson, from CRU’s Steel Sheet Products Monitor The seasonal slowdown in the physical Chinese sheet market is ongoing, with inventories rising and demand falling w/w. However, concerns about limited supply during the 100th anniversary of the Chinese Communist Party continue to boost the Chinese HR coil futures market. Prices are still edging […]
By CRU Analyst George Pearson from CRU’s Steel Sheet Products Monitor Sheet prices fell significantly in China and the Vietnamese import market in the last week and there were also smaller decreases in India. U.S. and European sheet prices continued to rise overall, although European trading activity was slower, and increases were smaller than we […]
General Motors continues to crank out some full-size pickup trucks despite a microchip shortage. The Detroit-based automaker is doing so by shipping certain vehicles without chip-containing components necessary for reducing fuel consumption, a company spokesman confirmed. “Due to the global shortage of semiconductors impacting the global auto industry, we are making Active Fuel Management/Dynamic Fuel […]
Flat Rolled = 42.7 Shipping Days of Supply Plate = 46.6 Shipping Days of Supply Flat Rolled Flat rolled inventories at service centers edged up in February, largely because of lower shipments caused by harsh winter weather. Flat rolled inventories represented 42.7 shipping days of supply or 2.14 months of supply at the end of […]
In Sunday night’s issue of Steel Market Update, I discussed the increase in the days of inventory on order at the service centers. The increase can be attributed to extended lead times, late deliveries and perhaps some double ordering from the distributors’ end-user customers. We saw an increase in the percentage of inventory that is […]
In Sunday night’s issue of Steel Market Update, I discussed the increase in the days of inventory on order at the service centers. The increase can be attributed to extended lead times, late deliveries and perhaps some double ordering from the distributors’ end-user customers. We saw an increase in the percentage of inventory that is […]
The following article on the hot rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled The market saw another strong move up in HR futures prices accompanied by strong volume buying. Daily average HR futures […]
This report examines the import share of sheet, plate, long and tubular products. As of January, imports’ share of total sheet products was 12.8%, up marginally from 12.3% in December. Although minimal, imports of sheet products have posted increases for two consecutive months after declining for seven consecutive months following the most recent peak of 16.6% […]
Steel Market Update is pleased to share this Premium content with Executive members. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Mill shipments of steel products rose 6.9% month on month in January, while apparent supply was up by nearly 13.5% during the same period. Despite the continued growth month over month since […]
Steel prices simply continue to move higher—as do the anxiety levels of many service center and manufacturing executives. Hot rolled steel set yet another record this week, according to Steel Market Update’s check of the market, reaching an average of $1,270 per ton, topping the previous high mark set in 2008 by $200 per ton. […]
Steel prices simply continue to move higher—as do the anxiety levels of many service center and manufacturing executives. Hot rolled steel set yet another record this week, according to Steel Market Update’s check of the market, reaching an average of $1,270 per ton, topping the previous high mark set in 2008 by $200 per ton. […]
A couple weeks back we were beginning to think the rise in spot prices would soon slow and we were close to a tipping point. We no longer have that opinion due to Snowmageddon, the winter storm that exacerbated the already late deliveries out of multiple steel mills. On top of that, we are seeing […]
Foreign hot rolled steel imports continue to tempt U.S. buyers as domestic prices soar, offering potential discounts of 10% or more, according to Steel Market Update’s latest foreign versus domestic hot rolled steel price comparison. Foreign HRC prices are theoretically $154-$323 per ton cheaper than domestic steel prices at this time. Recall that domestic mills […]
Steel prices continued their upwards climb in the month of February, fueled by strong demand and tight supply. Hot rolled steel prices surpassed $1,200 per ton in the third week of the month, reaching levels never before seen. Steel Market Update’s hot rolled price index reached $1,210 per ton by the end of February, up […]
Flat-rolled steel imports to the United States rebounded in February, weighing in at their highest monthly total in more than a year. Hot-rolled imports, meanwhile, hit their highest point in more than two years, according to Commerce Department figures. And the trend is only just getting started, according to some market participants. The U.S. was […]
You Can’t See the Forest for the Trees Mill lead times have surged over the past couple of weeks, which I believe is a result of Snowmageddon in Texas and other areas of the Southeast. When you look at our lead time graphics, you need to remember we are gathering data from our flat rolled […]
Steel prices took another bite out of the record books in March. The advent of March shows flat rolled and plate steel prices are still roaring upwards, with hot rolled hitting another record high of $1,240 per net ton, according to Steel Market Update’s check of the market this week. Prices generally moved up in […]