Ferrous scrap price negotiations are beginning with at least one deal getting done in Detroit within the past few days at down $22 per gross ton. However, as one scrap dealer explained to us earlier today, scrap prices are all over the board. There are steel mills who are bringing furnaces back online and others […]
For the first time since Steel Market Update began surveying the flat rolled steel industry, a majority of our respondents are reporting demand as “improving.” As you can see by the timeline shown in the graphic below, the optimistic trend for demand growth began to pick up steam during late 1st Quarter 2014 and momentum […]
Steel Market Update received the following steel market analysis from one of our member companies based on the Academy Awards. Sometimes it is better to look at the flat rolled steel market with a sense of humor so here goes: Current Market Perspective (inspired by the Academy Awards): The US Steel market continues to be […]
Reliance Steel & Aluminum Company reports fourth quarter 2013 sales for all products were $2.31 billion, up 22.1 percent from $1.89 billion in the fourth quarter of 2012 and down 5.6 percent from $2.44 billion in the third quarter of 2013. Net income for the quarter was $61.8 million, compared to $95.1 million in third […]
Steel Market Update (SMU) participates in a monthly galvanized steel conference call with the HARDI wholesalers, manufacturing companies and service centers associated with the HVAC related organization. The wholesalers in the Upper Midwest, East Coast and as far west as Wichita, Kansas reported having lost 5-6 days of shipments due to inclement weather in their […]
Reliance Steel & Aluminum increased sales 18.9 percent to $2.44 billion in the third quarter 2013 from $2.06 billion in third quarter 2012. Tons sold were up 31.3 percent year-over-year to 1.45 billion tons. Net income was $95.1 million, down 3.1 percent from $98.1 million in the third quarter of 2012 and up 17.4 percent from […]
Optimism waned this week as steel buyers and sellers toiled over price announcements, demand questions and a heightened sense of insecurity regarding their company’s ability to be successful in the current market environment. Based on the results from our just completed steel market survey, SMU Steel Buyers Sentiment Index dropped 6 points to +15 from […]
After months of uncertainty related to governmental policies and the fiscal cliff negotiations (or lack thereof) combined with normal end of the year seasonal factors, steel buyers and sellers finished 2012 in the Optimistic range of the SMU Steel Buyers Sentiment index. During the first week of 2013 those same buyers and sellers were slightly […]