SMU Market Survey Results Now Available
The latest SMU Market Survey results are now available on our website to all Premium members.
Tag: service center
U.S. Steel Talks Price Hike, Investments; Says Little on Sales Process
U.S. Steel’s third-quarter earnings call with analysts on Friday, Oct. 27, was packed full of insight into the Pittsburgh-based steelmaker’s current state of affairs.
Reliance Seeing Healthy Demand, Limited Impact from UAW Strike
Reliance Steel & Aluminum is anticipating overall demand to remain healthy through year’s end despite some weakening in some sectors and normal seasonality.
Ranger Steel Acquires Heavy Plate Distributor Nance
Ranger Steel Services has acquired the steel operations of Detroit-based heavy plate distributor Nance.
Final Thoughts
Taylor Swift’s “Shake It Off” could be the theme song for the sheet market over the last month. A UAW strike? Shake it off. The lowest ABI since December 2020? Shake it off. A potentially widening conflict in the Middle East? Shake it off. Sheet prices have been rising since late September, and hot-rolled coil […]
Goncalves Bullish on Auto Despite UAW Strike, Bearish on Service Centers
Cleveland-Cliffs says it is taking advantage of higher demand from the automotive sector – its biggest end-use market – this year.
SDI Posts Q3 Profit Drop on Lower Steel Prices
Steel Dynamics Inc. (SDI) reported a drop in third quarter profits on lower prices for flat-rolled steel as well as for fabricated products.
Market Chatter This Week
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, the UAW strike, and what people were talking about in the market.
Final Thoughts
If you think prices will continue to rise, you might point to longer lead times and stable order entry.
Service Center Shipments and Inventories Report for September
US service center flat-rolled steel inventories declined for a second month as shipping rates picked up in September.
SMU Steel Demand Index Inches Up Again But Still in Contraction
Steel Market Update’s Steel Demand Index remains in contraction territory despite repeated improvements since mid-September, according to our latest survey data.
Final Thoughts
SMU’s latest survey data are out, and they reflect a consensus among steel buyers that sheet prices have bottomed out and might rebound. Lead times continue to extend. Fewer sheet and plate mills are willing to negotiate lower spot prices. And 70% of survey respondents think prices have already bottomed out or will later this […]
Samuel Appoints New CFO
Samuel, Son & Co. has named Maria Perrella as its new CFO.
Worthington Industries Expands Tempel Steel in Mexico
Worthington Industries Inc. announced on Oct. 5 the expansion of its Tempel Steel facility in Apodaca, Mexico.
Final Thoughts
The US steel market appears to have gone from despairing over the possibility of spot HRC prices slipping into the $500s per ton to worrying about spot availability – and in just a matter of 2-3 weeks.
Ryerson Buys Wisconsin Fabricator Norlen Inc.
Ryerson has acquired Norlen Inc., a Wisconsin-based metal fabricator, for an undisclosed sum.
SMU Spotlight: NexGen Award Winner Daniel Doderer
The 2023 NexGen Award winner Daniel Doderer may not consider himself a veteran of the steel industry yet, but he's eager to make his mark.