Steel Products Prices North America
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/fbef5456f113816338a0b4f6cfe2c4a5.jpg)
SMU Survey Results Skeptical of Latest Price Announcements
Written by John Packard
October 6, 2013
Steel Market Update (SMU) began our most recent survey on Monday morning of this past week. Shortly after our survey began the domestic mills announced price increases. As the week progressed more announcements were made. None-the-less, our survey respondents did not seem to believe flat rolled steel prices will rise over the next few weeks. When asked where benchmark hot rolled pricing would be when we reach November 1st the responses ranged from $560 per ton on the low end to a high of $680 per ton (the announced increase level). Over 50 percent of the responses where right within the current range published by SMU on Tuesday of this past week – $620 to $650 per ton (64 percent).
Those believing prices would exceed the high end of our existing range – i.e. $660 per ton and higher – totaled 15 percent of our respondents.
Even with the price increase announcements our results were very similar to those at the beginning of September when the average was $627 per ton. At that time the low was $580 and the high was $690 per ton. The percentage of the respondents suggesting hot rolled pricing at, or above $660 per ton was only 8 percent. Our latest survey has added an additional 7 percent to the higher end of the range.
SMU always takes these particular questions with a grain of salt. They are interesting from a sentiment viewpoint but almost irrelevant to what may actually occur in the future. Although those suggesting October 1st price levels would be within the $620 to $650 range were 57 percent of the early September responses.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/john-packard.png)
John Packard
Read more from John PackardLatest in Steel Products Prices North America
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Cliffs_logo2.2.png)
Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]