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Steel price take off is far from over!
4/8/2008
By Tom Stundza
Purchasingdata.com
4/2/2008
Steel price assessments increased considerably in March and mills ended the month by boosting announced prices even higher for the deliveries through June. With service centers and small-to-medium-tonnage buyers accepting most of the increases, Purchasingdata.com has revised and increased second-quarter price forecasts.
In turn, even with an expected slippage in the fourth quarter, steel buyers will face full-year price inflation of 21% for the market basket of 11 carbon steel grades tracked by Purchasingdata.com. The benchmark grade of hot-rolled sheet in coil (HRC) increased by 24% in the first quarter to $661/ton and now is projected to rise another 29% in the second quarter to $850. Similarly, Purchasingdata.com projects an annual average increase of 48% to $778 for HRC in 2008 from the 2007 average price of $527. The annual average price of $862 for cold-rolled sheet in coil (CRC) is 40% to $862 from $614 in 2007.
Aldo Mazzaferro, steel analyst at Goldman Sachs Group in New York, recently boosted his 2008 price outlook for HRC to $775, citing “tighter-than-expected global markets (which) appear to reflect a physical steel shortage.” His commentary to clients confirms what other analysts are saying, that global markets are setting new highs in pricing because of strong demand from emerging markets in the Middle East, Russia, Brazil and Asia.
He also points out that exports from traditional suppliers are declining instead of increasing, as had been expected. “There is internal demand strength in export-oriented countries,” he says, noting that one of them, India, recently has become a net importer. “We think exporting nations like Brazil, Russia, China and others would be increasing exports in this time of record pricing and demand if they could,” writes Mazzaferro. “Instead, exports from most are off.” China is slowing exports because of government initiatives to reduce production and improve air quality in advance of the 2008 Summer Olympics.
And there now are numerous reports of stronger-than-expected internal steel consumption in Brazil, Russia, India and China, the so-called BRIC bloc of nations undergoing an explosion in infrastructure construction. As for supply, Mazzaferro writes: “Some steelmaking capacity is in the planning stages, but if demand growth rates continue in the 5% range globally we expect continued tight markets for the next several years, and do not see longer-term planned capacity additions
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Thoughts for Today
1/1/2006
The desire to succeed means nothing without the will to
prepare.
Commit to the Lord, whatever you do, and your plans will SUCCEED!
Prov. 16:3
“Unless we know what we're willing to die for, we may never figure out what we're living for.”
Unknown Source
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Tri-State
Cold-Formed Steel Components offers the best value in
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With over 75 years of combined steel truss experience,
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We invite you to peruse our portfolio and customers’
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why we are the best in the business. |
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Mission: |
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To be the best supplier
of cold-formed steel components by providing the best
value and highest quality goods and services to our customers
while meeting or exceeding their expectations. |
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| "It takes time to write a letter of recommendation for a company and I don't write many. In your case I feel this is justifiable" |
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| Glenn Wauligman, President |
| Performance Construction |
| Cincinnati, Ohio |
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| ...the truss experience of Ed French, Greg Moburg, and Troy Lutgens will rival any steel components manufacturer in the country! |
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| Dave Dunbar, PE, National Sales Manager |
| Alpine TrusSteel |
| Haines City, Florida |
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| Dennis J. Harding, Vice-President |
| Wal-Tron Interior Systems |
| Mason, Ohio |
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best way to demonstrate our experience is to show you
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