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While May inventories dropped a bullish -3.6% to the lowest level in two years, weak shipments – up only 0.8% against a normal seasonal uptick of 3.1% – left months’ supply…
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Posts Tagged: ‘Steel Sentiment’
AK Steel Leads with Second Sheet Hike
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AK Steel announced a leading $40/ton sheet hike this afternoon, the second increase in three weeks. We suspect AK’s move is…
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Second Sheet Price Increase Increasingly Likely
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We suspect we’ll see a second price increase announced, with about half of the original $50/ton May 22 sheet price hike sticking at the three-week mark. This is the first time…
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Advance/Decliner Index Remains Weak
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Our Advance/Decliner Index rose to a seven-week high as domestic sheet prices continued to climb and Chinese prices strengthened on the back of…
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Iron Ore Price Posts Nominal Pick-up
The spot reference price for 62% Fe iron ore cfr North China rose 0.5% to $110.90 for the week ending June 7, 2013 but remained near an eight-month low and is some 30.2% below the recent peak of $158.90 on February 20, 2013.
The spot price for iron ore averaged $139.35 in 2Q12, $112.12 in 3Q12, $120.57 in 4Q12, and $148.16 in 1Q13; the full-year 2012 average was $128.30.
The post-recession low was $59.10 on March 27, 2009, while the high was $190.19 on February 17, 2011.
Source: The Steel Index
Advance/Decliner Index Falls Slightly as Chinese Pricing Continues to Deteriorate
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Our Advance/Decliner Index fell last week as pricing weakness spread to Latin America, driving our Ex-China Index down. Our China Index remained at a dismal level due to…
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April ISM Steel Survey – Outlook Weakens but Hiring Positive Surprise
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The April Institute for Supply Management (ISM) Steel Buyer Survey showed that buyer optimism seen earlier this year has faded over the past two months…
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March ISM Steel Survey – Optimism Losing Momentum
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The March survey showed that after a meaningful pick-up in outlook earlier in the year, steel buyers are becoming less optimistic about future business conditions…more
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Advance/Decliner Index Falls to Seven-Month Low on Continued Chinese Pricing Weakness
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Our Advance/Decliner Index fell for the fifth consecutive week as our Our China Index dropped to the lowest since last September…more
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Advance/Decliner Index Drops to Lowest Since October on Surging Chinese Production
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Our Advance/Decliner Index fell to a five-month low this week with the decline driven by our Ex-China Index falling to… more
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