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    November Steel Exports Analysis

    Written by Brett Linton


    With the higher value of the U.S. dollar versus other steel trading nation’s currencies, we are seeing exports of steel in November as down slightly over October. November steel exports totaled 953,828 net tons (865,299 metric tons), down 5.6 percent over October but up 1.6 percent from November 2013 (all products). Here is a breakdown of flat rolled and plate exports for the month of November:

    Cut plate exports declined 5.2 percent from October to November to 102,843 tons, but were up 2.3 percent compared to levels one year prior.

    Brett Linton

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    Mills seek more scrap after lower prices fail to attract tons

    Several mills that bought October scrap early last week are still asking for additional supplies, scrap market participants said. The reason: the mills' initial prices did not attract enough of the raw material, they said. A trading source based in northern Ohio said three mills have contacted his firm seeking offers for additional tons. He said the mills asked for offers even if prices were higher than their original buys last week.

    Nucor increases spot HR to $1,240/ton

    Nucor said on Monday, Oct. 12, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,240 per short ton (st) this week, a $10/st increase from a week earlier. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,305/st, up $15/st from the prior week. Nucor is still offering lead times of three to five weeks, according to the letter to customers. You can track mill price announcements on our website. Steel Market Update (SMU) published a weekly price assessment on Tuesday, Oct. 6, showing HR coil prices averaging $1,270/st, up $10/st from the previous week. We will update our prices on the evening of Tuesday, Oct. 13.