Signaling that the mills remain busy, lead times for delivery of spot orders continue to lengthen with hot rolled now averaging more than six and a half weeks and coated steel orders around nine weeks. Lead times are an indicator of steel demand—longer lead times mean the mills have more orders to process and are […]
Mills continue to control negotiations over hot rolled, cold rolled and coated steel orders as they seek to collect higher prices in a market characterized by extended lead times and tight supplies. About 86 percent of the hot rolled steel buyers responding to Steel Market Update’s market trends questionnaire this week said the mills are […]
Mills continue to hold the upper hand in negotiations over hot rolled, cold rolled and coated steel orders as they work to collect higher prices in a tight market with extended lead times. Buyers report the mills will only negotiate on big tonnages to be delivered in 2021. About 86 percent of the steel buyers […]
The following article on the hot rolled coil (HRC) steel 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 latest hot roll production data shows that recent year-on-year figures are off by roughly 20 percent due mainly to […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Sheet Products Monitor HR coil was the standout product across all regions this week. HR coil deal prices and buyer bids increased in Vietnam, strong demand data supported prices in China, and tight availability continued to bolster U.S. prices and sure up the market in Europe. […]
Friday, Saturday, Sunday, Monday, Election Day – Tuesday, Nov. 3, 2020. If you have a mail-in ballot, it is now too late to put in the mail. You will need to personally drop the ballot off at a collection box. If you can vote early, I would highly recommend it (I voted last week in […]
Flat rolled steel prices increased by another $10-20 per ton in the past week as demand continues to outpace the tight supplies, lead times remain extended and there’s limited competition from imports. Only about one-quarter of the steel buyers polled this week believe prices are near a peak. So, with scrap prices expected to move […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]
Our latest foreign vs domestic hot rolled steel price comparison shows that U.S-producers continue moving closer to losing their price advantage over foreign imports, according to SMU and CRU indices released this week. The price differentials between domestic HRC compared to foreign imports had widened through mid-August to reach record highs, but have since declined […]
Steel prices are showing some strength in the fourth quarter as mill lead times remain extended, competition from imports is minimal, inventories are near record lows and demand is maintaining momentum as the economy slowly recovers from COVID. Supplies remain tight as a strike, unplanned outages and planned maintenance are keeping mill capacity below normal […]
Steel Dynamics’ CEO Mark Millett was upbeat on the prospects for steel demand in the fourth quarter and beyond. “You can clearly see what is happening in the marketplace through one’s order book—ours is in pretty good shape,” said Millett. Flat rolled demand and momentum remain strong, inventories are at historical lows, imports continue to […]
I made a boo-boo when disclosing the date for Dr. Schultz doing one of our SMU Community Chat Webinars. The webinar will be on OCTOBER 28TH, not this Wednesday as was originally advertised. My apologies to those who were looking forward to listening to Dr. Schultz this week. I have information about the webinar a […]
Lead times for hot rolled steel now average longer than six weeks, and coated steel orders longer than eight weeks, as the mills remain busy in a market adjusting to business in a pandemic. Lead times are an indicator of steel demand—longer lead times indicate the mills have more orders to process and are less […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. Q3 U.S. […]
By CRU Analyst Estelle Tran, from CRU’s Global Steel Trade Service The spike in sheet purchasing activity pushed prices up $200 /s.ton over the last two months and mill lead times for HR coil over six weeks. Steel Market Update, which is owned by CRU, also reported CR and HDG coil lead times in the […]
Flat Rolled = 45 Shipping Days of Supply Plate = 51.3 Shipping Days of Supply Flat Rolled Service center flat roll inventories fell significantly month on month as shipments increased and mill lead times extended. The SMU service center inventories data for September shows that service centers carried 45 shipping days of supply of flat […]
The benchmark price for hot rolled remained unchanged at around $650 per ton, according to Steel Market Update’s check of the market this week, even as the mills worked to collect the price increases announced earlier in the month. Other flat rolled products saw a modest increase. Begging the question: Is the upward price momentum […]
Leading pipe and tube producers have announced another price increase of $50 per ton, as the cost of the flat rolled used to make tubular products continues to increase and market conditions continue to tighten. Nucor Tubular Products informed customers Tuesday, Oct. 13, that prices will increase on new orders of HSS, pipe, mechanical and […]
Nucor Tubular Products led the pipe and tube manufacturers announcing a $50 per ton price increase this morning on HSS, pipe, mechanical and piling products. EXLTUBE advised they were following the Nucor lead and announced their fourth price increase on HSS and A53B products matching the Nucor $50 per ton. New orders for foreign steel […]
This week’s foreign vs domestic hot rolled steel price comparison shows that U.S-producers are moving closer to losing their price advantage over foreign imports, according to SMU and CRU indices released this week. The price differentials between domestic HRC compared to foreign imports had widened through mid-August to reach record highs, but have since declined […]
Steel buyers have mixed views on the sustainability of steel demand and the likelihood the mills will continue to collect higher prices. In our latest check of the market, SMU asked: Do you think the mills will be able to collect the price increases they announced last week on flat rolled and plate products? Do […]
The following article on the hot rolled coil (HRC) steel 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 Hot rolled spot prices have risen sharply in the last month in step with mill lead times that have moved […]
I have been communicating with Mark Bush, CEO of JSW Steel USA, regarding their Mingo Junction steel plant. The plant has been down since late July as the company reacted to “unforeseeable business circumstances in connection with the current COVID-19 pandemic….” The plant has been rumored to begin operations in February 2021. SMU reached out […]
Flat rolled steel prices saw a big jump this week nearly equivalent to the $50 per ton increase announced by the mills last week. Steel Market Update’s latest check of the market puts the current benchmark price for hot rolled at $650 per ton. The mills also announced price increases on plate last week, with […]
The tightness of the flat rolled steel market, and when that tightness might dissipate, are topics being actively discussed within the industry. Lead times are already into January at some mills, slabs are limited to the converters who were buying from Brazil, maintenance schedules are pushing lead times, and demand is up whether from rising […]
On Thursday, Steel Market Update produced an article on lead times with the headline, “Steel Mill Lead Times: Mixed Messages.” The lead times being discussed in the article come from our proprietary survey, which is produced every other week. The lead times are based on the average from the manufacturing companies and steel service centers […]
On Thursday, Steel Market Update produced an article on lead times with the headline, “Steel Mill Lead Times: Mixed Messages.” The lead times being discussed in the article come from our proprietary survey, which is produced every other week. The lead times are based on the average from the manufacturing companies and steel service centers […]
Global manufacturing continued its road to recovery in September. The J.P. Morgan Global Manufacturing PMI rose to a 25-month high of 52.3 from 51.8 in August, for a third consecutive month of expansion. All of the index components were solidly above the 50 neutral point except for employment, which posted a PMI of 49.5. A […]