Flat rolled steel prices continue to move as the steel buyers absorb the three increases announced by the domestic steel mills going back to October 21st. Most buyers are telling Steel Market Update that this week is relatively quiet due to the Thanksgiving Holiday but the mill remain steadfast in their resolve to garnish higher […]
Twice per month Steel Market Update conducts an analysis of the flat rolled steel market. One of the proprietary products that comes out of this effort is the SMU Steel Buyers Sentiment Index. Our index measures how steel buyers and those that sell flat rolled steels feel about their company’s ability to be successful both […]
Flat rolled steel lead times continued to move out (extend) according to those taking our flat rolled steel market trends survey which we began on Friday and concluded earlier today. Lead times are now more than one week longer than year ago levels as steel buyers have entered the market in response to the three […]
We are being a bit facetious when we tell steel buyers to “forget about it” when asked if the steel mills are willing to negotiate flat rolled steel prices. According to those taking our mid-November flat rolled steel market trends survey, the percent of buyers reporting the mills as willing to negotiate has dwindled from […]
Many service centers and end users in Colorado and east of the Rockies have known for years that California Steel and USS/POSCO have lower galvanized coating extras than the domestic steel mills located outside of California. On Sunday we published a number of the new extras published by many of the mills located outside of […]
November foreign steel import license requests picked up since this time last week and the month is now trending toward a 3.0 million plus net tons of imports. We believe the total is slightly over-stated due to the Thanksgiving Holiday and that the long weekend will scale back the pace over the coming days and […]
First, I want to wish every one of our USA readers a safe and pleasant Thanksgiving Holiday. Due to the holiday Steel Market Update will not publish a newsletter on Thursday. We do expect to publish an issue on Sunday evening that may be a little lighter than normal and we will return to our […]
NLMK USA will re-start production on their #2 galvanizing line at Sharon Coatings in late January. “We should start coating steel late January. The demand for our products is solid, especially for the coated products and restarting line 2 will allow us to better service the light gage requirements of both service center and OEM […]
Flat rolled steel prices increased on two of the three steel indexes with benchmark hot rolled up $45 per ton according to Steel Market Update with Platts reporting HRC prices as being up $10 per ton. SteelBenchmarker, on the other hand, saw HRC prices as being down $4 per ton. So, we have quite a […]
Over the past week the domestic steel mills have been revising their galvanized coating extras due to the higher prices for zinc which ended the week at $1.1412 per pound. We have managed to collect a number of the mill extras and we thought our readers would like to see a comparison of the extras […]
Later this week is Thanksgiving so we will have an abbreviated publishing schedule this week. We will publish on Tuesday and we will not publish on Thursday. If we publish on Sunday it will be a shorter than normal issue and then we will get back to our normal schedule until we reach the Christmas […]
Earlier this week the Metals Service Center Institute (MSCI) released end of October shipment and inventories data for the U.S. steel service centers. Total steel shipments (all products) were 3,073,400 net tons which was 8.6 percent lower than October 2015 levels. The distributors shipped 146,400 tons per day which was an improvement over the 145,000 […]
With the antidumping (AD) and countervailing (CVD) duties cases on hot rolled, cold rolled and CORE (coated products such as galvanized and Galvalume) having gone through the investigation process, decisions on duties or deposit rates for various countries were announced in the Final Determinations. The US Department of Commerce (DOC) has issued deposit rates that […]
On Tuesday of this week Steel Market Update (SMU) and one of our Steel 101: Introduction to Steel Making & Market Fundamentals workshops toured the Big River Steel facility in Osceola, Arkansas. We conducted the classroom portion of our program in Memphis and then drove to the mill for our tour and then we moved […]
A note to our Premium level members, we put out a Premium supplemental newsletter this afternoon that covered an extensive analysis of the MSCI data (long and flat rolled), there is also an article on currency values for steel trading nations (not good news for domestic mills as dollar has been strengthening), there is a […]
Flat rolled steel prices shot up this week in response to two price increase announcements within the past 8 days. ArcelorMittal provided base price guidance on Monday for $560 for hot rolled ($28.00/cwt) and $780 base on cold rolled and coated ($39.00/cwt). A number of mills followed with some announcing $30-$40 per ton and others […]
On Monday ArcelorMittal USA announced their third flat rolled steel price increase in less than a month. The mill informed their customers of their intention to raise base prices on all flat rolled products. On Tuesday NLMK USA followed the AM lead while Nucor and AK Steel came out with a $40 per ton price […]
On Monday NLMK USA advised their customers of their intention to begin collecting new zinc extras on galvanized steel products effective immediately. The new extras are in response to zinc spot prices being at the highest level in the past five years. Zinc closed Monday at $1.1716 per pound up $0.0608 since this past Friday […]
USS/POSCO, the joint venture conversion mill located in California, was the first of the domestic steel mills to raise prices as they opened their January order book. UPI (USS/POSCO Industries) informed their customers last Thursday (November 10th) of their intention to increase their base prices by $30 per ton ($1.50/cwt). At the same time UPI […]
According to the results of our most recent flat rolled steel market trends survey, service center spot prices have taken a dramatic turn in response to the spat of domestic mill price increase announcements. We have consistently seen, through the use of our surveys and our analysis of market price cycles, when flat rolled steel […]
The following analysis of the steel markets in China is from Beijing Metal Import & Export Co.,Ltd and is being reproduced by Steel Market Update with permission: Today is Monday, Please allow us to update China steel market (Nov 07 – Nov 13, 2016) as usual as following: In past week, market and non-market factors […]
Good evening from Memphis, Tennessee and Ocseola, Arkansas home of Big River Steel. Earlier today our Steel 101: Introduction to Steel Making & Market Fundamentals workshop held our class on the steel making and rolling process. The morning session was then followed by a trip to Osceola and a tour of the brand new (so […]
Steel trading companies are advising Steel Market Update that we should expect imports of foreign steel to be much lower as we move into the New Year. There are three major reasons for the slowdown in foreign orders: 1) the antidumping (AD) and countervailing (CVD) results fell in favor of the domestic steel mills, thus […]
Is everyone strapped in? The rollercoaster is clearly on the way back up and the question today is will benchmark hot rolled exceed the previous cycle highs of $635 per ton ($31.75/cwt) set in mid-June 2016? Flat rolled steel indexes followed by Steel Market Update recorded higher average pricing on hot rolled, cold rolled, galvanized, […]
We received a question from the financial community about “significant transformation” and the U.S. Department of Commerce initiation of an investigation into circumvention by China where hot rolled or cold rolled substrate is sent to Vietnam where it is then converted to cold rolled (from HRC) or coated steels. Their question was about the following […]
Buyers and sellers of flat rolled steel responding to our early November flat rolled steel market trends survey were found to be of the same mind as what we measured in the middle of October. Current Sentiment* was recorded as being +53.00 the same as what we reported in mid-October. The +53 is the best […]
As we discussed earlier this week, higher international prices for iron ore, coking coal, pig iron and steel are helping take ferrous scrap export prices higher. SMU had lunch with one of our scrap/pig iron experts who advised that 80/20 scrap export prices may have reached $280 per metric ton delivered. At the same time, […]
The amount of time it takes a steel mill to produce a product once a new order is placed is measured in weeks. Twice per month Steel Market Update (SMU) conducts a market trends analysis on the flat rolled steel industry. We invite just under 600 steel executives representing about 550 companies to participate in […]
One of the areas of our focus during our twice monthly flat rolled steel trends survey is how flexible are the domestic steel mills when negotiating spot steel prices with their customers? Over the past three months the mills have been willing to discuss discounts in order to obtain business. We found this on all […]
Nucor Plate Mill Group was the first of the plate mills to reach out to their customers and advise them of their intention to take plate prices up by $50 per ton. On Tuesday of this week, Nucor sent a letter via email to their customers stating, “Due to current market dynamics, plate pricing has […]