The prices of coking coal and zinc declined in May, while iron ore FOB Australia’s East Coast and scrap priced in Chicago were unchanged. To put this raw materials commentary into perspective, Figure 1 shows the spread between Chicago #1 busheling and hot rolled coil ex works Indiana through May 18, both in dollars per […]
Key market indicators tracked by Steel Market Update are at an all-time high for April but have shown signs of weakening in the past few months. Data released in April shows that 18 of the 36 indicators are historically positive with only 5 negative. The balance is within the historically normal band. Trends took a […]
This is Steel Market Update’s first Key Market Indicators report since April as we have renegotiated some data supply contracts and made a few changes to the content. The report still summarizes 36 data streams that we believe critically describe the state of the steel market and provide forward guidance to steel buyers. Data released […]
Steel Market Update is sharing this Premium content with Executive-level readers. For more information about upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Key market indicators in December were at an all-time high in the history of Steel Market Update’s analysis, but trends are deteriorating. This report summarizes 36 data streams that we believe critically describe […]
The prices of scrap and iron ore advanced in April, but coking coal and zinc declined. To put the raw materials analysis into perspective, Figure 1 shows the spread between Chicago #1 busheling and hot rolled coil ex works Indiana through April 13, both in dollars per net ton. The spread at $538.50 is now […]
Global manufacturing growth in March slowed to its lowest level since October 2017. The J.P. Morgan Global Manufacturing PMI posted 53.4, down from 54.1 in February. Rates of expansion fell in the consumer and intermediate goods sectors, while the investment goods PMI rose to its highest level so far this year. Manufacturing growth eased in […]
Key market indicators tracked by Steel Market Update in March remain very positive, but took a small step back from the all-time highs reported in February. Data released in March shows that 18 of the 36 indicators are historically positive with only 5 negative. The balance is within the band of historically normal. Trends deteriorated […]
Scrap and coking coal prices advanced in March. Iron ore and zinc declined. To put the raw materials analysis into perspective, we include here Figure 1, which shows the spread between Chicago #1 busheling and hot rolled coil ex works Indiana through March 9, both in dollars per net ton. March was the first time […]
The following article on the hot rolled coil (HRC) futures market 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 […]
Global manufacturing expanded at a solid pace in February, according to the J.P.Morgan Global Manufacturing PMI. The composite PMI inched downward for the second month to 54.2, indicating solid but slower growth. Industrial nations saw growth rates decelerate somewhat in February including the U.S., Eurozone, Japan and the UK. Improvement of manufacturing conditions was brisker […]
The MNI Chicago Business Barometer fell in February to its lowest level since August 2017. The barometer slipped 3.8 points from January’s reading to 61.9. Compared to a year ago, the index was up 8 percent and was above the 2017 average of 60.8 New orders were at a six-month low and production was at […]
Key market indicators, and the trends they reveal, are the best they have ever been in Steel Market Update’s analysis. Data released in February shows that 18 of the 36 indicators are historically positive with only six negative. The balance is within the band of historically normal. Trends improved with 32 of the indicators heading […]
Scrap, iron ore and zinc prices advanced in February, while the price of coking coal has declined by $4 per ton since mid-January. To put the raw materials analysis into perspective, Figure 1 shows the spread between Chicago #1 busheling and hot rolled coil ex works Indiana through Feb. 9, both in dollars per net […]
Of the four raw materials tracked by Steel Market Update, scrap and zinc prices advanced in January, iron ore took a small step back and coking coal declined by 10 percent. Each January, Bloomberg and U.S. Global Investors compile their Periodic Table of Commodity Returns. Figure 1 shows the returns of commodities each year of […]
Steel Market Update publisher, John Packard, traded comments with a financial analysts who was of the opinion that demand was under duress and the future of the steel using markets was in doubt. This does not match our belief based on a review of the SMU Key Market Indicators. We are sharing this report with […]
The following article on the hot rolled coil (HRC) futures market 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 […]
The U.S. economy overall has grown for 103 consecutive months, and the manufacturing sector for 16 months, based on the Institute for Supply Management’s latest survey of corporate purchasing executives. In December, ISM’s manufacturing PMI climbed 1.5 percentage points to 59.7, well above the reading of 50 that indicates growth. “This indicates growth in manufacturing […]
The J.P. Morgan Global Manufacturing PMI ended 2017 near a seven-year high as economies improved and new orders and output expanded. The PMI, produced by J.P. Morgan and IHS Markit, rose to 54.5 in December from 54.1 in November, expanding for the 22nd month. Intermediate goods saw the greatest rate of growth in December followed […]
Key market indicators bode well for business conditions in the first quarter of 2018. Steel Market Update’s view of the present situation based on our examination of data released in December shows that 47.2 percent of the 36 indicators are historically positive with only 19 percent negative. The balance is within the historically normal band. […]
All four raw materials tracked by Steel Market Update— iron ore, scrap, coking coal and zinc—increased in price in December. From Australia News Digest on Dec.18: “Steelmaking raw materials made strong gains on Monday as Chinese mills, responsible for half the world’s steel output, restock ahead of the resumption of full production at the end […]
Steel Market Update’s steel market indicators show improved trends in the November data. In our examination of data released in November, our view of the present situation is that 47.2 percent of the 36 indicators are historically positive with only 19 percent negative. The balance is within the band of historically normal. The total of […]
Raw material markets have been tranquil since our October update, but the value of the U.S. dollar is once again in decline. In this report, we examine the latest prices for iron ore, scrap, coking coal and zinc. To put the raw materials analysis into perspective, we begin with Figure 1, which shows the spread […]
Global manufacturing hit a six-and-a-half year high in October. The JP Morgan Global Manufacturing PMI rose to 53.5 from September’s 53.3. Most components of the PMI rose at faster rates in October. Output and output prices softened slightly during the month. Output charges increased reflecting supply chain constraints and longer vendor lead times. “The global […]
Steel market indicators look good in the October data, but the trends took a turn for the worse. In the data released in October, our view of the present situation is that 47.2 percent of the 36 indicators are historically positive with only 19 percent negative. The balance are within the band of historically normal. […]
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 […]
Global manufacturing stayed steady at a strong reading of 53.2 in September. The J.P. Morgan Global Manufacturing PMI was unchanged from the August reading with consumer, intermediate and investment goods all signaling expansion. Production rose, driven by new orders and international trade volumes and bumping up employment for the month. Higher input costs pushed selling […]
Steel market indicators look good in the September data. Our view of the present situation is that 50 percent of the 36 indicators are historically positive with only 19 percent negative. The balance of them are within the band of historically normal. This was the same result as May and August. Along with September, these […]
The price of iron ore is falling but zinc is at a 10-year high. In this report, we examine the latest prices for iron ore, scrap, coking coal and zinc and their relationship to the dollar. “Right now, the dollar has a lot going against it. The administration in the U.S. continues to hope the […]
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 […]
Global manufacturing rose to a 75-month high in August. The J.P. Morgan Global Manufacturing PMI climbed to 53.1 from 52.7 in July. Most components of the PMI increased in August and at a faster rate. Future output was the only measure to remain the same as July, at a strong 63.5. Developed nations on average led […]