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 economy.

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

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 flat.

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 heading into 2025”

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 markets.” #commodites

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

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

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

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 mirror.

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 others.

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.

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 August."

Commodity Update from @OilandEnergy

Oil: $87.75, -0.57%

BRENT: $90.72, -0.78%

NAT GAS: $3.021, -0.035% #Thursday #PVF

@ASA_HQ

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

#commodites #Monday

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 time.

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.

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 of iron ore

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 of the year

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.

#commodites #Friday

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 stagnant.

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 #1: Ukraine has been corrected as Russian exports of both steel and iron ore products have been supplanted by other nations.  #Commodities #friday

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 lower than it was a year ago.

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 good.

Copper Update from Nasdaq: $3.8375 +0.049 (+1.29%), 52 Week High: 4.2675 52 Week Low: 3.2835

#Copper #Thursday