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
Copper in 2025: Expected to see a global supply deficit of roughly 848,000 metric tons driven by China’s electric vehicle sector, data center buildouts, demand for electricity and infrastructure buildout focus around the world & general electrification of the global...
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
Producer Prices for steel pipe and tube were down marginally in the latest data from the end of September (latest available). They were down again by 1.3% month-over-month (also down 1.3% last month). Year-over-year, the PPI was 6.1% lower (also -6.5% Y/Y in the last update)...
Copper/Plastics Update: The Comex closed Monday, Oct. 28 at $4.332 which is DOWN $0.0075 from Friday’s close. The Comex average year-to-date price is at $4.2348 per pound and the LME is $0.0752 below the Comex average year to date price. Plastics pricing is relatively...
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
From a member: “Sales in October have increased over 2024 and previous months. There is political instability but that does not seem to affect the current market. Competition is aggressive in the Northeast, margins have eroded slightly. We are very optimistic...
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
From an ASA member: “Our same-store sales are up 11% vs. the first four months of 2023. I’d love to tell you it’s due to “brilliant” management😊, but it is primarily due to an uptick in project work in the power and air separation...
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
COPPER UPDATE from
@Nasdaq
: Priced at $4.0745, Prior Settlement: $4.13, 52 Week High: $4.13, 52 Week Low: $3.552
@ASA_HQ
#copper #Wednesday
Nickel Price Update: As of March 15th, the price of Nickel per Lb: $8.1159
@ASA_HQ
#commodites #Tuesday
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
Entering 2024, the industry as a whole anticipates a continued return to pre-pandemic stability across the board. Resin suppliers based in the Gulf Coast were able to dodge a repeat catastrophe by closing vulnerable processes during a recent cold snap. These measures resulted...
As the New Year begins, both carbon and stainless-steel bar remain readily available. Raw material pricing has remained stable. Finished high-pressure forged steel fittings and branch connections are available for delivery from stock to 2 weeks. @ASA_HQ #Commodities #Tuesday
Malleable Iron Update: A 6% industrywide domestic malleable increase was implemented Jan. 1. Rising energy, labor and raw material costs drove the increase. #Commodities #Monday @ASA_HQ
2024 has started as a promising year for projects and stainless steel to be used on those projects. Prices have leveled out with some signs that we will see an upward movement, like carbon steel prices. #commodities @ASA_HQ
HRC pricing is down 26% year-to-date. This is due primarily to new, additional capacity having been brought online, as well as a decline in demand. @ASA_HQ
Carbon steel prices have been in decline since the start of the new year. HRC pricing is down 26% year-to-date... #HRC #Commodities @ASA_HQ
Commodity Update from
@OilandEnergy
Oil: $75.25, -0.29% BRENT: $80.26, -0.32% NAT GAS: $2.770, -0.085% #Monday #PVF
@ASA_HQ
Domestic Malleable Iron: An 8% increase was announced and implemented in the first quarter of 2023. Rising raw material, energy and labor among other variable costs driving the increase.
The stainless-steel fitting market has largely stabilized over the past few months. Lead times for finished goods were somewhat extended but as they’ve returned to normal, modest pricing pressure has been observed.
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