We saw mixed results this past week as the various indexes attempt to find firm ground for flat rolled steel pricing. Of the three reporting indexes followed by Steel Market Update last week, one (Steel Market Update) saw two of the four products as being lower than the week before. Although, SMU advised that the […]
First, a quick note to our readers that follow the Steel Market Update (SMU) indices closely, after speaking with dozens of steel buyers of hot rolled products at the Metal Industry Dinner (Boy Scout Dinner) in Chicago we adjusted the lower end of our range to $440 per ton. This resulted in our HRC average […]
Flat rolled prices have begun to climb out of the hole which has been almost a year in making. Steel Market Update and Platts both saw benchmark hot rolled prices as being up $10 per ton this past week while CRU had HRC up $1 per ton. The HRC average of the three reporting indexes […]
All of the domestic steel mills located east of the Rockies (except U.S. Steel) made flat rolled price increase announcements this past week. The first steel index to note an upward move in pricing was Platts where by the end of this past week had taken their hot rolled index up $5 per ton from […]
The slippage in flat rolled steel prices continued this past week but we are seeing signs that the end to the slide “may” be close. Hot rolled prices dropped $3 (SMU) to $5 (Platts and CRU) per ton with only $1 separating the indexes from one another. We normally see the indexes tightening up the […]
It certainly doesn’t matter that Steel Market Update (SMU) Price Momentum Indicator is pointing at Neutral, flat rolled steel prices have continued to fall and last week was no exception. Benchmark hot rolled pricing (prior to any extras being added) dropped on all four indexes followed by SMU. Our own index dropped to $447.50 per […]
The pace of the flat rolled steel price slide slowed this past week, based on an analysis of the various steel indexes followed by Steel Market Update. As the pace slows, the spread between indexes also tends to get tighter due to fewer variations in the data collected. Looking at benchmark hot rolled, Steel Market […]
Flat rolled steel prices continued to slide their slide this past week according to all of the steel price indexes followed by Steel Market Update. Benchmark hot rolled dropped to $460 per ton ($459 at CRU), down $10-$12 per ton depending on the index chosen. A number to keep in mind: $390 per ton. That […]
The S&P/Case-Shiller Home Price Indices for January showed home price growth slowing from year ago levels. The National Home Price Index registered a 4.5 percent annual gain for the 12 months ending in January 2015 as compared to a 10.5 percent increase in January 2014. Month over month gains for the 10- and 20-city indexes […]
Benchmark hot rolled pricing has tightened, according to the various flat rolled steel indices we follow. With SteelBenchmarker reporting this past week all four indexes were within a few dollars of one another with SMU and Platts at $470 per ton, CRU $1 higher at $471 and SteelBenchmarker $3 higher at $473 per ton. Our […]
This weeks Comparison Price Indices analysis saw flat rolled steel prices as continuing their 8 month slide. Benchmark hot rolled coil (or bands) moved Lower by an average of $7 per ton this past week. Of the four steel indexes followed by Steel Market Update (including our own) the spread from low (SMU at $470) […]
Flat rolled steel prices plummeted again this past week according to the steel indexes followed by Steel Market Update. All four indexes reported pricing this week. The range from low to high on benchmark hot rolled coil was $480 to $495 per ton with SMU at the low end of the range and SteelBenchmarker at […]
The pace of the drop in flat rolled steel prices slowed this past week. From our perspective, we saw hot rolled prices as down $5 per ton, cold rolled and galvanized as flat and Galvalume up $5 per ton compared to the previous week. All of the reporting steel indexes (SMU, CRU & Platts) followed […]
Virtually all flat rolled steel products indexed by the steel indices followed by Steel Market Update saw steel pricing decline by double digits and, in most cases, the erosion in pricing on hot rolled, cold rolled, galvanized and coated was at least $20 per ton ($1.00/cwt). First an observation, as we watch the weekly price […]
Home prices increased slightly in December according to data from the S&P/Case-Shiller Home Price Indices, climbing 4.6 percent year over year in the National Home Price Index. The increase was slightly less than November’s pace of 4.7 percent. On a monthly basis, both the 10- and 20-City Composites reported increases of 0.1 percent in December. […]
For the first time in many weeks, Steel Market Update, Platts and CRU hot rolled price indices are almost the same. SMU and Platts see HRC prices as averaging $515 per ton while CRU is two dollars higher at $517 per ton. Cold rolled prices did not meet the same fate as Platts sees CRC […]
Steel Market Update recently attended the Port of Tampa Steel Conference in Tampa, Florida. When speaking with the service centers and traders it was apparent that we are in a period of time when buyers do not trust that the price today will be any good tomorrow. Our Comparison Price Indices report accentuates the issues […]
The range between indexes shrank this past week as benchmark hot rolled coil price averages dropped to $541 per ton, with SMU and Platts now even at $540 per ton and CRU slightly higher at $543 per ton. We did not include SteelBenchmarker pricing as they only produce pricing twice per month and we have […]
Mark Millett, CEO of Steel Dynamics pointed out the inconsistencies in the steel prices being referenced by two of the steel indexes followed by Steel Market Update. Millett spoke about the erosion of pricing and referenced the indexes in this comment, “…But I think our optimism is that American pricing has eroded and it has […]
According to the flat rolled steel price indexes followed by Steel Market Update, many of the flat rolled steel products are seeing their mill pricing erode by $10 per ton or more this past week. The spread between the indexes is relatively modest on hot rolled coil, but is much more pronounced in cold rolled, […]
All of the flat rolled steel price indexes followed by Steel Market Update saw benchmark hot rolled pricing as being down by double digits. Exactly where hot rolled prices are seems to be debatable as we have a $43 per ton spread between the low (Platts at $565) and the high (SteelBenchmarker at $608). Since […]
All the indexes followed by Steel Market Update have breached the $600 per ton ($30.00/cwt) average level on benchmark hot rolled steel prices in North America (one exception being SteelBenchmarker who has not yet reported any pricing for the month of January). The average of SMU, CRU and Platts for this past week was $590.67 […]
All was quiet this past week as steel buyers dreamed of Sugar Plum Ferries, lower prices and better times for the New Year. Mill sales people attended to their families and toasted higher prices and better times in the New Year. All of this means not much happened last week as SMU and Platts kept […]
All of the flat rolled price indices followed by Steel Market Update saw steel prices as continuing their decline but in larger increments than what we have been seeing over the past few weeks. Benchmark hot rolled coil pricing dropped by an average of $11 per ton. Two steel indexes, Steel Market Update and CRU, […]
All of the flat rolled steel indexes which reported pricing this past week saw benchmark hot rolled prices as being down and another step closer to touching $600 per ton. From Steel Market Update’s vantage point, the lower end of our range has broken down to $580 per ton ($29.00/cwt). Our HRC average for the […]
All of the flat rolled steel price indices followed by Steel Market Update moved lower this past week. Based on performance and their ability to keep up with the markets, the three key indices are SMU, CRU and Platts which reported benchmark hot rolled price averages as $615, $614 and $615 per ton, respectively. SteelBenchmarker […]
Hot rolled prices dropped on all the indexes which reported new pricing this past week. Steel Market Update was down $10 per ton to $620 per ton with CRU ($623) and Platts ($625) coming very close to the SMU number. SteelBenchmarker did not report new pricing this past week as they only report HRC prices […]
With the exception of Platts, all of the other flat rolled steel indexes reported benchmark hot rolled pricing as being down $5-$9 per ton this past week. Our average also declined by $5 per ton and now sits at $637 per ton. With at least one mill offering spot hot rolled at, or below, $600 […]
Flat rolled steel prices, as reported by Steel Market Update, Platts, CRU this past week (SteelBenchmarker did not report last week) had mixed results. CRU and SMU have hot rolled prices at $634 and $635 respectively. Platts remains stuck at $640 as they have been for a number of weeks now. SteelBenchmarker did not report […]
Late last week Steel Market Update (SMU) adjusted our galvanized range to take into consideration the growing number of base prices reaching down to the $35.00/cwt level. Our galvanized range is now $35.00/cwt-$38.00/cwt for new spot orders. Over the weekend we adjusted our hot rolled range to reflect the lower numbers we have been collecting […]