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Latest news
SunCoke Q1 earnings jump on cokemaking, logistics ops
SunCoke’s earnings soared in the first quarter, with the company citing strong performances in its cokemaking and logistics segments.
SMU Community Chat replay now available
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]
ISM: Manufacturing sector contracted in April
The Index had briefly showed expansion in March, but has indicated a contracting manufacturing sector for 17 of the last 18 months.
Steel market chatter this week
On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.
Final thoughts
Hold-rolled (HR) prices held roughly steady this week after slipping for much of April. I don’t have any spicy quotes to offer about mostly flat prices.
Besides, a lot of the questions I’ve gotten recently have been about demand. Some of you tell me that it’s still stable or improving. Others tell me that it’s suddenly dried up.
SMU price ranges: HRC flat, other products slip
Sheet prices were flat or moderately down again this week – underscoring the shift in momentum we’ve seen over the last month. The exception was hot-rolled (HR) coil, which was largely unchanged from last week.
Ryerson logs Q1 loss, but more stability seen in sheet
Ryerson swung to a loss in the first quarter of 2024, but the company’s chief executive sees less volatility in the sheet steel market.
UAW considers strike at Stellantis plant over health, safety issues
United Auto Workers (UAW) members at a Stellantis plant in Michigan have health and safety grievances so severe they are considering going on strike.
Chicago Business Barometer falls to 16-month low
The Chicago Business Barometer slipped further in April, now at the lowest measure recorded since November 2022.
NLRB certifies union vote of VW workers in Tennessee
The National Labor Relations Board (NLRB) has certified the results of the election of Volkswagen workers to join the United Auto Workers (UAW) union in Chattanooga, Tenn.
AISI: Raw steel production falls to three-month low
US raw steel production slipped again last week. It now stands at a 13-week low, according to the latest American Iron and Steel Institute (AISI) data.
AISI estimated total domestic steel output estimated to have been 1,701,000 short tons (st) in the week ending April 27. That’s down 0.9% compared to the week prior.
Leading nonres indicator falls to more than three-year low
An important economic indicator for the nonresidential construction industry declined in March to its lowest point in more than three years.
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Pricing
Interactive Pricing Tool
Chart steel and scrap prices against key indicators with our Interactive Pricing Tool.
wdt_ID | Product | Low | Avg | High |
---|---|---|---|---|
1 | HR | 780 | 815 | 850 |
2 | CR | 1,080 | 1,120 | 1,160 |
5 | GI | 1,080 | 1,120 | 1,160 |
6 | AZ | 1,060 | 1,100 | 1,140 |
7 | PL | 1,140 | 1,190 | 1,240 |