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Where the steel community comes together
Keeping a finger on the pulse of the flat-rolled steel market with the latest steel news, prices, and industry updates
What we do
Pricing
Steel Market Update produces weekly price assessments, news, and analysis of market trends affecting prices and sentiment on the US steel market.
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Sentiment, Inventories, Prices, and Key Market Indicators – everything you need to quickly adapt in the dynamic steel industry.
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Latest news
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US and Canadian rig counts log increases
Drilling activity rose in both the US and Canada last week, according to the latest data release from Baker Hughes. US rig activity increased to a six-week high but remains near multi-year lows. Canadian counts continue to improve, now at a 20-week high.
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Steel industry groups urge House action on LTPF 2.0
Six steel industry organizations have urged House Speaker Mike Johnson to include the Leveling the Playing Field 2.0 Act in any proposed package of legislation against China’s “unfair” trade practices.
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GrafTech’s Q2 loss widens in ‘challenging’ business environment
GrafTech cited a “challenging” part of the business cycle as its net loss widened in the second quarter.
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CRU aluminum news roundup
A roundup of aluminum news from CRU.
Metalformers expect steady conditions in coming months
Metalformers expect economic activity to stabilize over the next three months, according to the recently released July Business Conditions Report from the Precision Metalforming Association (PMA).
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CRU: Poor steel margins continue to push down raw material prices
Both iron ore and coking coal prices fell this week because of resistance from buyers.
Iron ore prices have continued to fall throughout the past week, following sharp declines in steel prices in China, given no new policy announcement from the ‘Third Plenum’ meeting.
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RMU: Prices set to rally in August amid tight supply, rising demand
The prices for the July market weren’t settled until July 8 and now we are approaching the formation of the August market.
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BREAKING NEWS: Cliffs seeks $670/ton for Sept HR
Cleveland-Cliffs announced on Friday that it would seek $670 per short ton (st) for hot-rolled (HR) coil.
The steelmaker said the move was effectively immediately. It coincides with the opening of the company’s HR order book for September.
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Final thoughts
SMU has heard from some larger buyers who have stepped back into the market to buy at prices that, if not at a bottom, they assess to be close to one.
Is it enough to stretch out lead times and send prices upward again? Or do we continue to scrape along the mid-$600s per short ton (st) as we have been doing for most of the last month?
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HR futures: Shifting risk profiles, emerging opportunities
Summer is here, and a familiar sentiment has hit the hot-rolled coil (HRC) futures market. Prices continue to decline in both the spot market and the futures market, with expectations of sub-$800 prices for the remainder of the year.
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Steel pricing pressure squeezes Reliance’s Q2 earnings
Reliance Inc. said a faster-than-expected decline in carbon steel prices offset higher shipments in the second quarter.
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Steelmaking raw material prices ease in July
The majority of steelmaking raw material prices declined in June, following the same trend seen in May, according to SMU’s latest analysis.
Featured
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 | 610 | 635 | 660 |
2 | CR | 840 | 900 | 960 |
5 | GI | 820 | 870 | 920 |
6 | AZ | 840 | 895 | 950 |
7 | PL | 960 | 1,020 | 1,080 |
Flat-rolled steel prices
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Steel Pricing Momentum
Flat-Rolled Lead Times
Steel Buyers Sentiment
Mill Spot Price Negotiations
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