Business Intelligence-Metals
By Tom Stundza -- Purchasing, 9/13/2007
$740/tonAverage beam price
Source: www.purchasingdata.com
WHAT IT MEANS: Mills have been struggling to keep prices of medium-sized wide-flange beams at $770/ton but in August, transactions dipped $30 under that benchmark. The reason is increased availability, as delivery leadtimes are less than five weeks, and reduced demand due to the slowdown in construction.
3.3Leadtime in weeks for sheet steel
Source: www.purchasingdata.com
WHAT IT MEANS: The August delivery time for hot-rolled steel sheet dipped to the lowest average in 48 months, back at 2.1 weeks in September 2003. This means that sheet is plentiful at mill and trader depots and service center branches in a late-summer market where purchasing just isn't happening.
15%Copper price inflation
Source: Platt's Metals Week
WHAT IT MEANS: Copper was trading in mid-August at $3.30/lb on the New York Mercantile Exchange, which is 15% higher than the start of the year. "Copper's supply/demand fundamentals remain strong," says Daniel Hynes at Merrill Lynch.
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