Have flat rolled and plate steel prices peaked? Opinions vary widely among Steel Market Update’s sources. We spent all day on Tuesday working on gathering flat rolled and plate pricing information. In the process, we also collected comments from steel buyers as to whether they felt steel prices have “peaked” or if there is more […]
The pace of flat rolled steel price expansion slowed this past week with hot rolled and cold rolled barely budging off the levels reported for the week ending March 30. Galvanized average pricing rose slightly (+$5) on SMU’s index to $1,106 per ton for .060” G90. Platts took their average up $33 per ton and […]
The following report was originally published last week for our Premium level members. The SMU service center inventories months of supply index began in July 2017 and we continue to add flat rolled and plate steel distributors to our confidential data provider list. If you would like to be added to our data provider list […]
Steel Market Update’s sources report that ferrous scrap prices have increased by $5 to $15 per gross ton in April, depending on the type and region. Some predict scrap prices are likely to decline in May. Strong domestic demand is the key driver of rising scrap prices, said one dealer in the North. “With few […]
In Q1 2018, steel sheet product imports increased and plate products decreased compared to Q4 2017. Total rolled steel imports increased by 3.6 percent, and sheet products by 0.5 percent, in the three months through March compared to three months through December 2017. Plate products decreased by 9.7 percent on the same basis, according to […]
Based on the latest SMU Flat Rolled and Plate Steel Market Trends Survey, mill lead times on flat rolled steel remain highly extended, close to the levels measured by Steel Market Update in mid-2016, as mills scramble to fill orders on strong demand. Mill lead times, which are the amount of time it takes for […]
We are in an unusual situation when it comes to evaluating “spot” pricing. Many active buyers are contract customers and there are very few “sophisticated” buyers actually in the spot market buying flat rolled steel. Plate buyers have told SMU that they are on allocation and there are very few “spot” purchases being made. One […]
All three of the steel indexes followed by Steel Market Update reported their average prices this past week. The lag of SteelBenchmarker pricing is very evident as they lagged well behind our index as well as that of Platts. Benchmark hot rolled prices averaged $870 per ton, according to SMU and Platts. SteelBenchmarker reported $825 […]
In response to the Trump administration tariffs, South Korea was the first country to agree to a quota and to restrict the amount of steel they can export out of their country to the United States. Steel Market Update’s analysis below shows the potential for the quotas to have a big impact on specific market […]
Flat rolled and plate steel prices moved higher over the past seven days. Steel buyers reported the domestic and Canadian steel mills as being “firm” with their price offers. Even so, steel buyers advised Steel Market Update that even with many mills allocating tonnage or, working on a controlled order entry basis, that they were […]
JSW Steel announced it will invest $500 million in its U.S. plate and pipe operations. The Baytown, Texas, facility will receive $150 million in upgrades and the rest will fund a new hot-end facility to make steel. Texas Governor Gregg Abbott signed an agreement with the company to provide a grant of $3.4 million. The […]
Twice per month, once at the beginning of the month and then again in the middle of the month, Steel Market Update conducts an analysis of the trends impacting the flat rolled and plate steel markets. We invite 640 individuals associated with flat rolled and plate steels in purchasing, sales or executive positions at manufacturing, […]
Flat rolled and plate steel prices continued their march higher, albeit at a more subdued pace compared to the past few weeks. Today, we are going to compare the end of the week flat rolled steel indices provided by Steel Market Update and Platts. SteelBenchmarker did not produce steel prices this week as they only […]
Service center shipments in February were stronger than the seasonal norm, according to Steel Market Update’s latest analysis of Metals Service Center Institute data. Daily shipments in February were 3.8 percent higher than in January. On average since 2009, February shipments have decreased by 0.4 percent; therefore, these latest numbers were seasonally better than the […]
The value of the U.S. dollar has strengthened in the last six weeks, though it remains down for the year. So far in 2018, the dollar has weakened by 8.1 percent, after a turnaround of 2.9 percent from Feb. 2 to March 16. Please see the end of this report for an explanation of data […]
Flat rolled steel prices continue to March higher and are expected to continue to do so for weeks, if not months, due to the Section 232 tariffs on foreign steel and the tightening of supply. Most domestic steel mills are operating on an inquire or controlled order entry basis. Mills like California Steel and NLMK […]
February service center shipments of carbon flat roll, plate, and pipe and tube were all up compared with the same month last year, but down compared with the prior month, according to the Metals Service Center Institute’s February Metals Activity Report. It’s a common seasonal pattern for shipments to start the year strong in January […]
Steel shipments by Canadian service centers in February totaled 383,300 net tons, down 6.5 percent from January’s high, but up 4.8 percent from February 2017, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 19,200 tons per day in February (a 20-day month), up from 18,600 tons per day in […]
We saw another surge in flat rolled and plate steel prices last week as steel buyers deal with closed order books, allocation and uncertainty. With the Section 232 tariffs set to go into effect on Friday of this week (March 23) buyers are scrambling to make sure they are covered. This has allowed the steel […]
Steel Market Update’s 8th Steel Summit Conference will be held at the Georgia International Convention Center on Monday, Aug. 27, through Wednesday, Aug. 29, 2018. We’ve been watching the markets very carefully as we put together our final agenda and have worked hard to select the best speakers possible. On Friday, we added AK Steel […]
Steel Market Update’s 8th Steel Summit Conference will be held at the Georgia International Convention Center on Monday, Aug. 27, through Wednesday, Aug. 29, 2018. We’ve been watching the markets very carefully as we put together our final agenda and have worked hard to select the best speakers possible. On Friday, we added AK Steel […]
SMU will begin our next flat rolled and plate steel market trends analysis beginning at 8 AM ET tomorrow morning (Monday). Please check your inbox (or SPAM filter) for our invitation to participate in the mid-March process. If you would like to be included in this or future surveys, please send an email to info@SteelMarketUpdate.com. […]
The following analysis of the number of months of supply being held by flat rolled steel distributors is intended for SMU Premium level members. We are sharing this report with all of our readers during the first year of the index, after which it will be available for Premium members only. Shortly after the month […]
SSAB Americas announced yesterday, March 14, that it is increasing steel transaction prices by a minimum of $50 per ton for customers in the United States, and $60 per ton for customers in Canada, effective immediately on all new non-contract orders, and for all existing noncontract orders acknowledged for shipment the week of April 29 […]
Last week, Steel Market Update conducted an analysis of the flat rolled steel market trends. We reached out to 640 individuals representing more than 600 manufacturers, steel service centers and wholesalers, steel mills and toll processors and asked dozens of questions related to flat rolled and plate steel usage. One of the key areas of […]
Anticipating the U.S. Commerce Department will soon begin considering applications for exemptions from the Trump administration tariffs on steel and aluminum, South Korea’s Dongkuk Steel has reportedly suspended its April exports to the United States. Reuters quoted a company spokesman who said the steelmaker has put its exports to the U.S. temporarily on hold while […]
SSAB Americas announced yesterday, March 14, that it is increasing steel transaction prices by a minimum of $50 per ton for customers in the United States, and $60 per ton for customers in Canada, effective immediately on all new non-contract orders, and for all existing noncontract orders acknowledged for shipment the week of April 29 […]
Flat rolled sheet prices, as well as plate prices, surged this week as steel mills moved to allocation or totally withdraw from the market pending further examination of the Section 232 ruling and how it will impact each mill’s ability to produce sheet and plate products. SMU is hearing of offers on hot rolled as […]
It is still early, but Steel Market Update is already collecting comments and opinions on how the Section 232 tariffs are going to affect existing business in the United States. We heard everything from allocation stories to a few companies that reported higher prices but no customers for that higher priced steel. “This is a […]
It is still early, but Steel Market Update is already collecting comments and opinions on how the Section 232 steel tariffs are going to affect existing business in the United States. We heard everything from allocation stories to a few companies that reported higher prices but no customers for that higher priced steel. “This is […]