“U.S. Steel Sinks as Another Wave of Cheap Imports Predicted” was the headline in Bloomberg on Friday morning. The article cites Axiom Capital Research analyst Gordon Johnson who wrote to his clients, “A boat load of imports are likely on the way.” This opinion permeates the financial community and the pessimism is, in our opinion, […] The post SMU Outlines Two Scenarios for Steel Price Cycle Change appeared first on Steel Market Update.
If things weren’t tight enough there have been a couple of accidents at steel mills, one in the United States (North Star BlueScope) and one in Brazil (CSN), which are impacting the domestic flat rolled steel order books. CSN (Brazil) Affecting Galvanized Markets About two weeks ago, CSN in Brazil had a breakout with their […] The post Mill Accidents Further Exacerbate Supply Issues appeared first on Steel Market Update.
If things weren’t tight enough there have been a couple of accidents at steel mills, one in the United States (North Star BlueScope) and one in Brazil (CSN), which are impacting the domestic flat rolled steel order books. CSN (Brazil) Affecting Galvanized Markets About two weeks ago, CSN in Brazil had a breakout with their […] The post Mill Accidents Further Exacerbate Supply Issues appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC), busheling scrap (BUS), and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how he saw trading over the past week: For those of you who don’t know, it’s Cinco De Mayo! So I say “Hay Caramba”. If you want to […] The post Hot Rolled Futures: Hay Caramba! appeared first on Steel Market Update.
The following article on the hot rolled coil (HRC), busheling scrap (BUS), and financial futures markets was written by Dave Feldstein. As Flack Steel’s director of risk management, Dave Feldstein is an active participant in the hot rolled coil (HRC) futures market and we believe he will provide insightful commentary and trading ideas to our […] The post Hot Rolled Futures: The Show Goes On!!! appeared first on Steel Market Update.
Steel Dynamics announced a strong quarter with net income of $63 million on net sales of $1.7 billion for first quarter 2016. Steel operating income increased 104 percent to $136 million from fourth quarter due to a 17 percent improvement in shipments which totaled 2.12 million tons. Average steel selling price dropped $40 from Q4 […] The post Steel Dynamics Flat Rolled Division Operating at 88 Percent appeared first on Steel Market Update.
We have received a number of calls from sellers of steel asking for our help in trying to explain, from an independent source, why flat rolled steel prices are moving higher and why we expect this trend to continue. When looking at the history of Steel Market Update, our steel market intelligence publication was actually […] The post Steel Buyers Coming into the Spot Market Should Expect Sticker Shock appeared first on Steel Market Update.
On Friday and Saturday of this past week, Steel Market Update attended the Association of Steel Distributors spring meeting. The following are some of the notes made during the presentations and during discussions with ASD members. Dr. Chris Kuehl of Armada Corporate Intelligence reported that he is “a little optimistic” when it comes to the […] The post Notes From Association of Steel Distributor Spring Meeting appeared first on Steel Market Update.
Steel Market Update ferrous scrap sources are advising us that scrap prices are poised to move $30 to $50 per gross ton higher for April deliveries than what we saw negotiated at the beginning of March. The issue is supply. The domestic sheet mills are having issues finding all of the tonnage they need and […] The post Ferrous Scrap Prices Poised to Move Up $30-$50 appeared first on Steel Market Update.
The following article was written by SMU founder and publisher, John Packard with the assistance of Platts Content Director, Metals Americas, Joseph Innace. Shortly after Steel Market Update (SMU) became a real company I understood the need for the flat rolled steel industry to have an pricing index which was independent and not tied as […] The post Platts HRC Index: Methodology, Daily, Exchange Ready appeared first on Steel Market Update.