I was taking a deeper dive into some of the data compiled from last week’s flat rolled and plate steel market trends analysis. Having added about 50+ new companies to our survey, we now send invitations to 500+ individuals who actively participate in the flat rolled or plate steel markets. On purpose, we concentrate on […]
Steel Market Update is pleased to share this Premium content with Executive level members. For more information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. Key Market Indicators showed a substantial improvement in market trends in the December data. This report is designed to be a big picture summary of data SMU has […]
Key Market Indicators showed a substantial improvement in market trends in the December data. This report is designed to be a big picture summary of data SMU has reported in detail during the month. It summarizes 36 data streams that describe the state of the steel market and provide forward guidance for steel buyers and […]
Steel buyers sentiment has seen little change in the past several weeks as the market pauses to digest the latest price increases and looks ahead to the beginning of the new year. The goal of the index is to measure how buyers and sellers of steel feel about their company’s ability to be successful today […]
Happy Holidays! I expect this week to be a tad on the slow side as buyers and sellers of steel celebrate Hanukkah and Christmas. One year ago, benchmark hot rolled prices were averaging $745 per ton ($37.25/cwt), down from the cycle peak achieved the week of July 23, 2018, at $915 per ton ($45.75/cwt). Since […]
After declining for much of 2019, steel prices have moved up substantially in the last two months. Will the trend continue into 2020? Flat rolled steel producers raised prices three times during October and November for a total of $110 per ton. (Editor’s note: ArcelorMittal USA announced an additional $40 flat rolled increase on Friday. […]
Steel buyers sentiment, which had been trending up for the past several weeks right along with steel prices, showed the first signs of leveling off this week. Both the Current and Future Sentiment readings had only a 1 point change in the latest data. The goal of the index is to measure how buyers and […]
Steel prices had upward momentum in November following multiple price increase announcements by the mills on flat rolled and plate products. Steel Buyers Sentiment moved upward along with the prices as service centers and OEMs anticipated a strengthening market. After bottoming in mid-October at around $480 per ton, the benchmark price for hot rolled steel […]
This report is designed to be a big picture summary of data SMU has reported in detail during the month. It summarizes 36 data streams that describe the state of the steel market and provide forward guidance for steel buyers and sellers. See the end of this piece for an explanation of the Key Indicators […]
Steel buyers’ sentiment has been trending up for the last six weeks along with steel prices, which is a positive development. But like the prices, sentiment has yet to really take off and prove it has sustained strength, according to Steel Market Update’s latest Steel Buyer’s Sentiment Index. The goal of the index is to […]
Although too early to be called a trend, the latest readings in Steel Market Update’s Steel Buyer’s Sentiment Index show a slight uptick in optimism following recent price increase announcements by the mills. The goal of the index is to measure how buyers and sellers of steel feel about their company’s ability to be successful […]
Although too early to be called a trend, the latest readings in Steel Market Update’s Steel Buyer’s Sentiment Index show a slight uptick in optimism following recent price increase announcements by the mills. The goal of the index is to measure how buyers and sellers of steel feel about their company’s ability to be successful […]
Steel prices continued their decline in October to an average hot rolled price below $500 per ton, prompting a $40 per ton price increase announcement by the flat rolled mills late in the month. With a price change in play, Steel Market Update switched its Price Momentum Indicator to Neutral. Widespread concerns about the declining […]
This report is designed to be a big picture summary of data we have reported in detail during the month. It summarizes 36 data streams that describe the state of the steel market and provide forward guidance for steel buyers and sellers. See the end of this piece for an explanation of the Key Indicators […]
Steel Market Update’s Current and Future Buyers Sentiment Indexes inched up a few points this week, but remain near their lowest levels in six years. The goal of SMU’s Buyers Sentiment Index is to measure how buyers and sellers of steel feel about their company’s ability to be successful today (Current Sentiment Index), as well […]
Except for a brief uptick this summer, steel prices have been on the decline since March and breached the $500 per ton level in mid-October—a psychological line in the sand that leaves steel buyers wondering: Have prices hit bottom? Is it time to replenish inventories? Flat rolled steel prices took a steep dive last month, […]
By John Packard, President & CEO, Steel Market Update The Steel Market Update Steel Buyers Sentiment Index has been a mirror of the comments made by buyers of flat rolled and plate steel over the past few days. Our Sentiment Index, which measures how buyers and sellers of steel feel about their company’s ability to […]
Steel Market Update’s Buyers Sentiment Index declined again this week to its lowest levels since 2013. Both Current and Future Sentiment have been trending steadily downward since April. The Current Sentiment reading of +26 is half the +52 recorded just one month ago and more than 40 points below levels at this time last year. […]
John Packard is traveling… Here’s what readers of Steel Market Update have learned this week. Steel prices continue to slide. By Steel Market Update’s calculation, the benchmark price for hot rolled steel now averages $515 per ton. That’s the lowest in 2019. Given the widespread reports of disappointing demand, worsened by the strike at GM […]
September saw big downturns on both steel price momentum and steel buyers sentiment that aren’t readily evident in the monthly data (below) from Steel Market Update. SMU’s Price Momentum Index was pointing downward for the entire month of September. The benchmark price for hot rolled steel averaged $565 per ton for the month, down nearly […]
The net situation changed little from August but the Treasury 10/2 yield spread became slightly positive on Sept. 27 and the SMU Steel Buyers Sentiment Index suffered a serious setback on Sept. 15. This report is designed to be a big picture summary of data on which we have reported in detail during the month. […]
Steel Market Update’s Buyers Sentiment Index saw a big change this week—and not for the better—with Current Sentiment dropping by 23 points to a reading of +29 and Future Sentiment dropping by 20 points to a reading of +31. Even though the +29 and +31 readings are within the optimistic range of our index, both […]
As was mentioned earlier in this issue, the SMU Steel Buyers Sentiment Index has dropped to the least optimistic level seen since 2013. When I started Steel Market Update, one of the first items on my agenda was to develop the Steel Buyers Sentiment Index. I wanted to understand how buyers and sellers of flat […]
Steel Market Update’s Steel Buyers Sentiment Index saw a slight uptick this week, but not one big enough to indicate a significant change of direction. Industry sentiment has trended downward for much of the year and has been stuck in a mediocre range for the last few months over concerns about demand and pricing. Buyers’ […]
This report is designed to be a big picture summary of data we have reported in detail during the month. It summarizes 36 data streams that describe the state of the steel market and provide forward guidance for steel buyers and sellers. See the end of this piece for an explanation of the Key Indicators […]
Steel Market Update’s Steel Buyers Sentiment Index moved lower over the past two weeks as buyers appear concerned about the economy and steel demand. Steel prices remain a source of anxiety as the mills have been only partially successful at collecting their recent price increases. The goal of SMU’s Buyers Sentiment Index is to measure […]
Steel prices are up, but the same cannot be said for industry optimism. Following a brief uptick shortly after the mill price increases were announced last month, Steel Market Update’s Steel Buyers Sentiment Index has ticked back down. Steel buyers’ comments suggest that concerns about the economy, steel demand and the staying power of the higher […]
Distributors of galvanized steel to the HVAC industry remain surprisingly positive despite steel prices that have been on the decline for more than six months. While there is some variance by region and market segment, members of the Heating, Air Conditioning & Refrigeration Distributors International generally expect solid demand for their products at least through […]
Steel Market Update’s analysis of Key Market Indicators shows the present market situation was basically unchanged in the last month, based on data released in July, but half the 36 indicators trended positive and half negative. This report is designed to be a big picture summary of data on which we have reported in detail […]
The long-awaited rebound in steel prices was the biggest story of the month in July. Steel Market Update’s Price Momentum Indicator was pointing firmly upward by the end of the month following three $40 price increase announcements by flat rolled steel producers. The benchmark price of hot rolled steel hit $580 per ton in July, […]