New Report Preview

Our Advance/Decliner Index continued to show stability, rising modestly from 71% last week to 74%; our Index has now traded in a tight band of 71-74% over the last four weeks (any reading over 50 means that the number of price increases exceeded the number of declines).

The small uptick was driven by our China Index rising from 55% to 75% as prices for most types of steel products trended higher on the back of a stronger-than-expected PMI reading.  Our Ex-China Index was relatively stable, falling from 76% from 73% as pricing in East Asia, the CIS and Europe showed less strength. An uptick in the US sub-index partially offset this slight softening, with both Nucor and Severstal following ArcelorMittal’s second sheet price increase last week.

Our full report provides further thoughts about global steel pricing trends and our outlook as well as implications for steel equities.

For a free trial subscription, please contact us.