Steel Market Update saw modest improvements in flat rolled steel prices mostly associated with reductions of the discounts found at the lower end of the ranges. There are a number of mills that are waiting to see what happens with the Section 232 investigation before announcing new prices or opening their order books for the next […]
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: Steel If you compare prices between last week and this week, you will see the HR futures market has found support and […]
The following article on the hot rolled coil (HRC) futures markets was written by David Feldstein. As the Flack Global Metals director of risk management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
We are seeing a strengthening in the resolve of the steel mills as most (but not all) steel buyers were reporting an attempt to take numbers up or to restrict orders by having mills move to an “inquire only” position. Even so, we continued to get some pricing at the lower end of our range […]
Last week, Steel Market Update (SMU) conducted one of our flat rolled steel market trends analyses as we surveyed manufacturing companies, service centers, steel mills, trading companies and toll processors. During the process, we inquired as to whether our respondents felt the newest round (and any more to come) of steel price increases were “justified.” […]
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: Steel Lack of certainty in forecasting future HR business continues to create excess price volatility. Longer lead times along with slightly lower […]
Steel mill flat rolled lead times, which have generally trended downward this spring, my be showing early signs of lengthening, reflecting new strength in demand for domestic steel products. Mills were successful in collecting a price increase earlier in the month. Despite SMU data that shows service center inventories at “comfortable” levels, some distributors may […]
We saw mixed results this week as hot rolled prices rose a very modest $5, cold rolled was down $15, galvanized was up $10 and Galvalume remained the same even as the lower end dropped $10 per ton and the upper end rose $10 per ton. Definitely a mixed week as the market tries to […]
We are hearing reports from steel mills that their lead times have moved out and they have been able to collect some, if not most, of the $30 per ton price increase announced at the beginning of the month. Steel Market Update (SMU) is concerned as our research data is suggesting that service centers are […]
The steel industry has a way of surprising those who use its products. This may be especially true this year as it appears the industry is about to enter a phase not seen in decades. It is mid-June 2017 and the domestic flat rolled steel mills are raising steel prices as the U.S. Department of […]
The following article on the hot rolled coil (HRC) futures markets was written by David Feldstein. As the Flack Global Metals director of risk management, Dave is an active participant in the hot rolled coil (HRC) futures market and we believe he will provide insightful commentary and trading ideas to our readers. Besides writing futures […]
As you can see by the number of articles in tonight’s newsletter, there is a LOT going on and we are working over-time trying to stay on top of everything. For that reason we have put off our MSCI articles until Sunday evening’s issue (we will actually publish them to the front of our website […]
Flat rolled steel prices moved higher this week as the effects of last week’s price increase announcements begun to take place. Prices on all but plate moved up by $15 to $20 per ton. As one mill pointed out to SMU earlier today many of the orders that are being placed this week are smaller […]
Steel Market Update (SMU) has been in contact with dozens of steel buyers and executives over the past 24 hours discussing the status of the flat rolled price increases, steel mill lead times and other items of interest to the steel community. Most steel buyers reported the flat rolled price increases as being in effect […]
Domestic steel mills announced flat rolled steel (hot rolled, cold rolled, galvanized, Galvalume) price increases early last week. However, as is sometimes their want, especially when lead times are shorter than they would like, most of the mills gave their customers time to place orders at the existing prices quoted prior to the announcements. It […]
About 65 percent of respondents to SMU’s June 5 Steel Buyers Sentiment Index questionnaire predict steel mills will not be able to collect the full $30 per ton flat rolled steel price increase announced last week, while just 35 percent believe the hike will stick. Nearly two out of three respondents, mostly service centers and […]
Flat rolled lead times have continued to decline over the past 10 weeks, according to this week’s SMU Flat Rolled Steel Market Trends questionnaire. Buyers and sellers of flat rolled steel report shorter lead times than in early May. Lead times on all products are considerably shorter than one year ago. Shorter lead times are […]
Lead times are declining, which reflects a possible softening of demand, thus domestic mills appear to be more willing to negotiate spot pricing on hot rolled, cold rolled, hot-dipped galvanized and Galvalume steels than they were earlier in the year. About 70-80 percent of steel buyers responding to this week’s flat rolled steel market trends […]
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: Steel This week we had a big reversal/correction week on week as HR futures curve prices traded higher as buyers reached for […]
Flat rolled prices were mixed this week as the domestic steel mills announced their $30 per ton price increase and steel buyers placed whatever orders they were allowed to under the existing pricing agreements. We saw a tightening of the range on hot rolled while cold rolled was unchanged, galvanized was down $5 per ton, […]
Over the course of the day today (Tuesday, June 6, 2017) Steel Market Update (SMU) spent time communicating with top executives at some of the largest flat rolled steel service centers in the United States about the steel price increase announcements and about the market as it exists right now. Four service center presidents responded […]
On Friday of this past week flat rolled steel buyers were lighting up the Steel Market Update inbox with questions or comments about a potential flat rolled steel price increase to be announced as early as Monday of this week. Steel buyers and executives associated with the service centers were telling SMU that Nucor is […]
Global manufacturing was at a six month low in May according the latest JP Morgan Global Manufacturing PMI. The composite index inched down to 52.6 from 52.7 in April. Developed nations showed solid steady expansion in manufacturing while growth in emerging nations was nearly flat. The PMI for the U.S. was at an 8 month […]
Flat rolled prices continued their skid despite the Memorial Day Holiday. Prices were lower by $5 to $15 per ton depending on product. Steel buyers continue to be concerned about the direction of prices and how long this downward spiral will last. We have more on the comments received today as we canvassed both end […]
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: Steel Flattening of HR futures curve due to decline in nearby futures prices generates heavy trading. It has been an active week […]
“There’s been further erosion with EAF’s dropping spot to $570-$580, not necessarily tied to volume,” is what one large service center told us this afternoon. “[I am] afraid this market at risk of bigger drops than was anticipated.” Flat rolled price averages were lower across all products followed by Steel Market Update with the exception […]
Flat rolled steel distributors are reporting to Steel Market Update (SMU) that their inventories are balanced to slightly over-stocked and there is minimal need to build carbon sheet inventories from here. At the end of March the MSCI reported flat rolled steel inventories at 1.82 month’s supply. Last week the MSCI reported end of April […]
The Fifth District Survey of Manufacturing Activity showed shipments and new orders fell significantly in May pulling the composite index down to 1 from 20 in April. The index for backlogs decreased to -15 from 4 in April and vendor lead times increased to an index reading of 6 from 2. The finished goods inventory […]
Flat rolled lead times have been shrinking over the past eight weeks according to the results of this week’s SMU Flat Rolled Steel Market Trends questionnaire. Buyers and sellers of flat rolled steel are reporting shorter lead times than what we measured at the beginning of May and lead times on all products are much […]
Since early Monday morning of this week, Steel Market Update (SMU) has been conducting an inquiry into the flat rolled steel markets. We discovered lead times have shrunk which usually relates to lower steel prices and more willingness by the domestic steel mills to negotiate spot prices being offered into the market. SMU inquired on […]