ASA Member Comment on February Trends: "· Tariffs were questionable, but it looks like they are getting worked out. Some manufactures unaffected by the tariffs are using them as an excuse for a price increase. Will they stick, is now the question?"

HRC Steel Update from @MarketWatch: $700.00, -7.00, -0.99% @ASA_HQ #commodities #HotRolledCoil

Nickel Price Update: January 14th, 2025, the price of nickel is $7.2053 per pound. @ASA_HQ #commodites #Tuesday

COPPER UPDATE from @Nasdaq: Todays High/Low - $27.33/$26.99, 52 Week High/Low - $31.63/$22.81, Share Volume - 69,643 @ASA_HQ #copper #Friday

Commodity Update from @OilandEnergy

Oil: $74.53, +0.77%

BRENT: $77.05, +0.71%

NAT GAS: $3.598, +0.24% #Monday #PVF

@ASA_HQ

Member comments: “Copper Comex has been stable so far in December. Copper demand has gone up.” #Commodities @ASA_HQ

Morgan Stanley has its 2025 copper price forecast at $9,500/MT. Capital Economics is predicting $9,000/MT in 2025 and $8,000/MT in 2026. #Commodities @ASA_HQ

High-pressure forged steel fittings and branch connections have had no price increase announcements throughout the fourth quarter. Carbon and stainless-steel bars remain readily available. #Commodities @ASA_HQ

Gasoline prices are expected to average $3.31 a gallon in 2024 and $3.19 in 2025 (versus $3.52 average in 2023). #Commodities @ASA_HQ

The price of copper slipped again over the past 30 days and was lower at $4.04/lb. ($4.34/lb. last month). This is 6.9% lower in the past 30 days. #Commodities @ASA_HQ

Crude oil prices are expected to average $77.00 a barrel in 2024 ($78.80 in the last update and they were $77.58 in 2023) according to the EIA. For 2025, prices are expected to average $71.60. #Commodities

After a tough September, sales declined by 7.6% compared to August, October increased 13.6% vs. September 6.8%. Year-to-date sales edged up with respondents reporting a median increase of 1% and Trailing Twelve Month sales increased 1.7%.

ASA Member Comment: "After a few big projects were put on hold earlier in the year, they seem to be bubbling up again. We’re getting current numbers together and feel they’ll start moving again by the 2nd quarter of 2025." @ASA_HQ #Friday

West Texas Intermediate (WTI) was essentially unchanged at the time of writing at $69.46 ($69.83 a barrel in last month’s report and flat at just 0.8% year-to-date). It was 8.4% lower vs. October of 2023. #Friday @ASA_HQ

ASA Member Comment: "Currently business is flat. With the conferences that I have attended it seems as though everyone is hoping for things to pick up after the election." #Commodities @ASA_HQ

COPPER UPDATE from @Nasdaq: Priced at $4.3365, Prior Settlement: $4.3805, 52 Week High: $5.106, 52 Week Low: $3.5845 @ASA_HQ #copper #Thursday

HRC Steel Update from @MarketWatch: $708.00, +3.00, +0.43% @ASA_HQ #commodities #HotRolledCoil

Nickel Price Update: October 14th, 2024, the price of nickel is $8.0204 per pound.

@ASA_HQ #commodites #Tuesday

Commodity Update from @OilandEnergy

Oil: $73.99, +0.75%

BRENT: $77.41, +0.83%

NAT GAS: $2.623, -0.037% #Thursday #PVF

@ASA_HQ

The stainless weld fitting market continues to stay mostly flat on pricing, but there are continued signs that metals are rising, which could cause prices to start moving. @ASA_HQ #Commodities #Monday

Stainless steel pipe and fittings prices had remained under consistent, downward pressure since the end of 2022. The major reason was the precipitous fall of nickel prices following the astonishing runup of LME nickel prices during the first half of 2022.

STEEL MARKET UPDATE: Flat-roll producers are more willing to negotiate on pricing than in the recent past. Specifically, the increased proliferation of import steel pipe in the market has contributed to suppressing prices this year. @ASA_HQ #Tuesday #Commodities

Carbon Steel Update: After a brief producer-initiated spike to welcome the start of April, hot-rolled coil prices have largely settled back into a lower station. Officially, HRC is trading 12% down from the start of April. @ASA_HQ #Commodities #Monday

Copper Update: Copper continues to go up in price. Not sure where it will stop. 12% up so far this year. @ASA_HQ #commodities

Stainless steel pipe and fittings prices had remained under consistent, downward pressure since the end of 2022. The major reason was the precipitous fall of nickel prices following the astonishing runup of LME (Class I) nickel prices during the first half of 2022.

COPPER UPDATE from @Nasdaq: Priced at $4.4865, Prior Settlement: $4.46, 52 Week High: $4.526, 52 Week Low: $3.552 @ASA_HQ #copper #Thursday

Nickel Price Update: April 19, 2024, the price of nickel is $8.8308 per pound. @ASA_HQ #commodites #Wednesday

HRC Steel Update from @MarketWatch: $812.00, +5.00, +0.62% @ASA_HQ #commodities #HotRolledCoil

Commodity Update from @OilandEnergy

Oil: $82.88, -0.26%

BRENT: $86.68, -0.61%

NAT GAS: $1.779, +0.027% #Monday #PVF

@ASA_HQ

Carbon steel futures are down 3% this month and 30% year-to-date. International markets are seeing more stress than domestic, as historically high interest rates in Europe have put massive pressure on inventories.

The Federal Reserve is still maintaining current rates but was still signaling two to three rate cuts in 2024, all being a quarter-point. The first cuts are expected to begin in June but could come earlier. #Commodities

The current GDPNowcast from the Atlanta Fed has started to decelerate from earlier forecasts in Q1 but is still showing the economy growing at 2.1% (2.9% in last month’s report and Blue-Chip forecasters are now expecting growth of 2.0% as well in the quarter).

Commodity Update from @OilandEnergy

Oil: $82.07, +0.12%

BRENT: $86.78, +0.03%

NAT GAS: $1.610, -0.005% #Tuesday #PVF

@ASA_HQ

"Quote activity has increased as well as larger projects breaking ground. The first quarter was slow to start but we see positive gains moving forward. Sales for March are flat compared to a very good month in 2023 but margin is up slightly." @ASA_HQ

The EIA is forecasting gasoline prices to average $3.31 in 2024 after averaging $3.52 last year. Diesel forecasts show an annual price of $3.92 after averaging $4.21 last year. #Commodities @ASA_HQ

HRC Steel Update from @MarketWatch: $789.00, -4.00, -0.50% @ASA_HQ #commodities #HotRolledCoil

Commodity Update from @OilandEnergy

Oil: $81.20, +1.48%

BRENT: $85.28, +1.25%

NAT GAS: $1.683, +0.025% #Thursday #PVF

@ASA_HQ

Economy: First-quarter GDP is once again stronger than expected on the back of strong consumer spending, government investment and stable corporate spending (nonresidential construction). @ASA_HQ #Commodities

The Federal Reserve is still signaling two rate cuts in 2024, both being a quarter-point. As we approach the presidential election, the Fed likely will be unwilling to change rate policy. #Commodities @ASA_HQ

Domestic Malleable Iron Update: An industry-wide price increase of 6% went into effect Jan. 1 with labor and energy being the primary cost-increase drivers. #Commodites #Monday @ASA_HQ