Stainless Steel Pipe: As we come to the close of another exciting year in the stainless world, we are happy to report that 2023 will be remembered as a stabilizing year for pricing in the market. The peaks of the nickel and supply chain crisis of 2022 are in the distant...
As we come to the close of another exciting year in the stainless world, we are happy to report that 2023 will be remembered as a stabilizing year for pricing in the market. The peaks of the nickel and supply chain crisis of 2022 are in the distant mirror.
Stainless pricing still flat within most domestic segments of materials as we start to end the year. There's caution in near-term economic reports as there are signs that the aggressive raising of interest rates is hitting some sectors of consumer spending harder than...
Carbon Steel Pipe Update: The last month has seen hot-rolled coil (HRC) prices increase by just over 20%. Lead times have also increased that amount. What is unknown is how much of this increase is self-imposed, nor how long these increases will last.
Copper prices rebounded from an 11-month low following an announcement by China that it plans to increase fiscal support in an effort to revitalize its slowing economy and struggling property sector. Nevertheless, copper prices continue to face pressure due to a stronger...
HRC Steel Update from @MarketWatch: $842.00, +15.00, +1.81% @ASA_HQ #commodities #HotRolledCoil
"We are seeing a significant slowdown in our customers at this point and not exactly sure why, maybe due to end-of-year budgets depleting, interest rates high for projects and not able to get financing. We have had a great last 3 years but slower for sure since...
Oil prices climb & on track to rise for a 2nd week on heightened fears that the Israel-Palestinians crisis may spread in the Middle East and disrupt supply from one of the world's top-producing regions. Brent crude futures was up 88 cents to $93.26 a barrel by...
Commodity Update from @OilandEnergy
Oil: $87.75, -0.57%
BRENT: $90.72, -0.78%
NAT GAS: $3.021, -0.035% #Thursday #PVF
According to the latest Producer Price Index report, the price level of inputs to building materials was unchanged in September after climbing 0.4% in August. Prices have increased 0.8%, year-to-date, the smallest YTD gain through September since 2019. @NAHBhome
Nickel Price Update: As of October 12th, the price of Nickel per lb: $8.3742, while just the day before, the pricing per lb was listed at $8.2037. @ASA_HQ
HRC Steel Update from @MarketWatch:
$695.00, -1.00, -0.14%
@ASA_HQ #commodities #HotRolledCoil
The Federal Reserve left rates unchanged in September but allowed the door for more hikes in November or next year to stay on the table. The Fed remained hawkish, saying that inflation was still too high and far from its target 2% rate.
Economy: Third quarter GDP was still trending stronger than expected, current GDP growth for the quarter was estimated to be 4.9% according to GDPNow tracker. Most analysts are still expecting slightly cooler growth of just under 3% but remaining ahead of expectations.
Commodity Update from @OilandEnergy
Oil: $85.87, -0.51%
BRENT: $97.68, -0.47%
NAT GAS: $3.443, +0.057%
#Tuesday #PVF @ASA_HQ
The U.S. dollar rebounded and is stronger, which is helping keep a lid on petroleum prices. Typically, when the dollar softens, oil prices rise. Analysts expect the dollar to remain stronger in the near term, but longer-term pressures are more likely to push it lower over...
Oil and Gas Update: The bulk of the energy sector has started to inflate once again. Crude oil prices were sharply higher month-over-month at the time of writing. Concerns over supply pressures and weaker inventory levels are driving this worry.
“Regarding copper, the Comex continues to fluctuate in a pretty narrow range in September, hitting a high of $3.85/lb earlier in the month and we are now at our low, hitting $3.67/lb. There is speculation that Copper could go lower by the end of 2023 ($3.50/lb range),...
PVF Update: From the Distributor Side
“Commodities continue to be soft. Rising interest rates and slowing multi-residential starts are hurting PVC and small-bore steel pipe sales; Compound that with reduced prices due to deflation and it puts you in a shrinking...
Carbon Steel Pipe: Mergers & acquisition front: Cleveland-Cliffs & Esmark Steel Group made offers for US Steel in recent months. Neither deal has been accepted, a deal would have major effects on the carbon steel producing world, especially as it relates to the supply...
Copper Cont.: Lackluster demand from China, along with a stronger dollar, has exerted downward pressure on copper prices, leading it to drop to its lowest levels in four months. #Copper #ASA #Commodites
Copper continues to trade within a triangle pattern, characterized by lower highs and higher lows, which has been prevalent throughout much of 2023. As we enter the final week of September, copper is hovering around the $3.67/lb. mark. @ASA_HQ #commodities #FRIDAY
Stainless Steel Pipe & Fittings: The market continues to soften in pricing but project activity remains strong. Markets have pockets of strength especially for semiconductor chip production & infrastructure projects. Expect business levels to be steady through the end...
Hot-rolled coil carbon steel pricing has continued downward during the past month. We have seen pricing fall from around $730 per ton, to $704 per ton. The current quote is the lowest price since December of 2022.
Oil prices fell on Tuesday as a stronger U.S. dollar compounded concerns that demand for fuel will be held back by major central banks keeping interest rates higher for longer than expected. Brent was down 0.55%, at $92.78 a barrel while U.S. WTI was down 0.52%, at $89.21.
MONDAY COPPER UPDATE from @Nasdaq: Priced at $3.694, Prior Settlement: $3.696, 52 Week High: $4.2675, 52 Week Low: $3.2835 #copper #Monday
Currently, China is the world's leading consumer of steel. A potential energy shortage could have an impact on steel prices if it becomes too cost prohibited to produce steel. #Thursday #Commodities #Steel
HRC Steel Update from @MarketWatch: $707.00, +1.00, +0.14% #commodities #HotRolledCoil
Copper Update from @Nasdaq: $3.801, -0.0205 (-0.54%) #Copper #Monday
Nickel Price Update: As of September 13th, the price of Nickel per lb: $9.0074, while just the day before, the pricing per lb was listed at $8.9283.
Led by a decline in softwood lumber and steel mill prices, overall building material prices fell in September with the notable exception of ready-mix concrete, which continues to grow at a rapid clip.
Commodity Update from @OilandEnergy:
Oil: $89.17, +0.27%
BRENT: $92.34, +0.28%
NAT GAS: $2.734, -0.009%
ETHANOL: $2.16, 0.00% #Wednesday #PVF
On a global basis, OPEC+ cuts in production are still expected to continue through September and into October.
Stainless Steel Pipe & Fittings: There continues to be solid activity in some of the industry sectors like oil and gas, chemical and petrochemical. The overall raw materials remain a bid softer as nickel continues to hover at or near $9.00 as the China market remains...
A potential energy shortage could have an impact on steel prices if it becomes to cost prohibitive to produce steel. That is likely a far-off scenario. #Friday #Commodities
Carbon Steel Fall Factor #2: A big factor is that supply fears have all but disappeared even with a near-global slowdown of steel production. China’s demand is also slowing. Currently, China is the world’s leading consumer of steel. #Commodities #friday
Carbon Steel Fall Factor #1: Ukraine has been corrected as Russian exports of both steel and iron ore products have been supplanted by other nations. #Commodities #friday
Carbon Steel Pipe Update: From a mid-July high of $983.00, hot-rolled coil carbon steel pricing has fallen below $730.00 per ton. And few factors go into this precipitous fall... #commodites #HRC #Thursday
Steel Update: From the Distributor Side With steel products softening, it puts the wholesaler in a bit of a pickle. Smaller wholesalers with little inventory can broker their way into projects. The question is when is the right time to change the price?
The Federal Reserve followed through with a quarter-point hike in July but is expected to pause at the next meeting in September. #commodities #Tuesday
Fuel prices are mixed. Diesel prices were $4.36 a gallon at the time of writing ($3.90 a gallon in the last briefing), which was $.61 cents per gallon lower than last year. Gasoline in comparison was $3.85 per gallon at a national level, which is now just 3 cents a gallon...
High-pressure forged steel fittings: There have been no price increases announced by any of the major domestic forged steel manufacturers on A105, 304L or 316L. Availability of finished goods is stock to 2 weeks. Raw material prices have remained stable, and availability is...
Copper Update from Nasdaq: $3.8375 +0.049 (+1.29%), 52 Week High: 4.2675 52 Week Low: 3.2835