SMU Data and Models
October 31, 2013
Written by John Packard
It has now been three consecutive months that the SMU Price Momentum Indicator has been at Neutral. Flat rolled steel prices have broken out of the $640 per ton doldrums with benchmark hot rolled coil haven risen to $665 as of earlier this week.
The monthly average for benchmark hot rolled is $651 per ton which happens to be the same as the CRU hot rolled coil settlement number for HRC Futures trading.
Editor’s note: Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact Luis Corona at luis.corona@crugroup.com. Prices of steelmaking raw materials have moved in different directions over the last 30 days, according to Steel Market Update’s latest analysis. Through April 18 data, […]
Steel Market Update’s Demand Index remains in contracting territory, where it has been for most of the last four months, according to the latest survey data. While the market did react temporarily in response to mill price hikes in mid-June, apparent demand for flat-rolled steel in the US continues to trend down.
The latest SMU Market Survey results are now available on our website to all Premium members.
SMU's Current Sentiment Index slipped this week, while the Future Steel Buyers Sentiment Index jumped 10 points from the last market check, according to our most recent survey data.
US service center flat-rolled steel inventories spiked in July with a slowdown in shipments. At the end of July, service centers carried 56.1 shipping days of flat roll supply, according to adjusted SMU data.