Tag: sentiment

SMU’s Current Steel Buyers’ Sentiment Index tumbled this week, while Future Sentiment ticked up slightly, according to our most recent survey data.

Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]

For the first time in weeks, activity in the futures market broke out of the recent “front grinds lower” pattern to provide new insight into the dynamics of the steel industry.

The US scrap market is quiet as we pass through June. Speculation about the direction of July is mixed, with most sentiment neutral or bearish. The concerns are about demand during the summer months. There are still several planned outages and other cutbacks at various mills that could limit overall demand for recycled steel scrap.

We’ve been writing a lot about sheet prices, and those for hot-rolled (HR) in particular, coming down. Here's one thing that hasn't dropped: The wide spread between HR and cold-rolled (CR) prices. That's what's in a chart below. And I'm using it as a rough proxy for galv and G'lume base prices as well

SMU’s monthly at-a-glance articles summarize important steel market metrics for the prior month. This May report contains data updated through June 7. Steel prices for sheet and plate products continued to edge lower throughout May. The SMU Price Momentum Indicator was adjusted from neutral to lower at the beginning of the month. We saw a […]

Steel Market Update’s Steel Demand Index moved up 2.5 points last week, though it remains in contraction territory and at one of the lowest readings in nearly a year, according to our latest survey data.

The latest SMU market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Historical survey results are also available under that selection. If you need help accessing the survey results, or if your company would like to have your voice heard in our future surveys, contact info@steelmarketupdate.com.

It feels like the summer doldrums arrived a little earlier than usual this year. I know there had been rumors of a price hike. The prospect of a sharply lower June scrap trade probably didn't help the chances of that actually happening.

SMU’s Steel Buyers’ Sentiment Indices both rebounded sharply this week, according to our most recent survey data.

Steel Market Update’s Steel Demand Index fell five points to a 12-month low and moving further into contraction territory, according to our latest survey data.

Here’s something I didn’t expect to see this week: SMU’s Current Buyers’ Sentiment Index dropped to its lowest point since August 2020.

Sideways and range-bound describes the US steel derivatives market over the past week, though the monthly picture shows a more notable decline in front-end flat prices. Week-over-week saw the June futures contract firm slightly, from $770 per short ton (st) to $780/st as of Thursday, May 23’s provisional close. However, the contract was down by […]

SMU’s Steel Buyers’ Sentiment Indices both plummeted over 10 points this week, both hitting lows for 2024, according to our most recent survey data.

US housing starts ticked up through April following March’s dip, according to the latest data release from the US Census Bureau.

Earlier this month, steelmakers entered the scrap market at mixed pricing. The prevailing price for obsolescent grades fell $20 per gross ton (gt). However, some notable districts decided to only drop $10/gt.

Domestic scrap prices this month are flat for prime material, but down for HMS and shredded, scrap sources told SMU.

Wolfe Research Managing Director Timna Tanners cautioned clients about the darkening clouds of a brewing steel sheet storm in the company's Basic Materials Weekly Webcast on Monday. “This one we’ve been talking about for a while, and we feel like the theme is coalescing here,” she said.

The Mexican federal government backed down on the application of tariffs on raw non-alloyed and alloyed aluminum decreed on April 22.

SMU’s Steel Buyers’ Sentiment Indices both declined this week, with Current Sentiment tumbling over 10 points, according to our most recent survey data.

Steel prices trickled lower across the month of April for both sheet and plate products.

As we approach “buy week,” a term industry veterans use to refer to steel mill scrap buying time and an excuse to remain in the office, we have seen a variety of slants on the May market.

ArcelorMittal posted a narrower Q1’24 profit compared to Q1’23 but remained optimistic about steel's long-term demand prospects.

On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.

Sheet prices were flat or moderately down again this week – underscoring the shift in momentum we’ve seen over the last month. The exception was hot-rolled (HR) coil, which was largely unchanged from last week.

SMU’s Steel Buyers’ Sentiment Indices both rose this week to reach some of the highest levels seen this year.

Galvanized buyers reported steady demand and ample supply this week as pricing momentum has shifted, potentially pointing down. Service centers, distributors, and manufacturers who are members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association met virtually on Tuesday, April 23, for the monthly meeting of HARDI’s Sheet Metal/Air Handling Council. Sentiment was noticeably […]

Steel sheet prices in many regions of the world were steady week over week in the week ended April 17.

To the surprise of many — myself included — flat-rolled steel prices appear to be in a holding pattern… again. This is not familiar territory for hot-rolled (HR) coil, at least not over the past few years. Its pricing volatility (as my colleague Michael Cowden has noted in past columns) may rival the elastic moves […]

Metalformers expect economic activity to remain level over the next three months, according to the April Business Conditions Report from the Precision Metalforming Association (PMA).