Steel Products Prices North America

Final July Imports at 3.27 Million Tons
Written by John Packard
September 6, 2016
The U.S. Department of Commerce announced Final Census data for July foreign steel imports. July imports surprised to the upside at 3,266,049 net tons. At the same time, based on data through the 2nd of September, August imports are trending toward another 3.0 million net ton month.
Both July and August saw a surge in semi-finished imports. SMU is aware that ArcelorMittal is starting back up their IH3 blast furnace at Indiana Harbor and our understanding is part of the production is for slabs to go to their Alabama operations. Maybe the IH3 is not such bad news for the domestic steel industry? We will have to wait a few months to see if semi-finished imports shrink but if they do you know the reason why/how.
Hot rolled imports were quite high in July but fell off in August. Cold rolled imports are higher than they have been averaging both on a 3 month and 12 month moving average. This may get worse with Russia now coming back to the mix (but they will not be a huge tonnage supplier). The issue with cold rolled is the wide variance between foreign (mostly Vietnam and Turkey) and domestic prices. The U.S. mills need to get more competitive in the coming months on cold rolled.

John Packard
Read more from John PackardLatest in Steel Products Prices North America

SMU price ranges: Flat-rolled balloon continues to leak
Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.

HRC vs. busheling spread narrows in August
The price spread between prime scrap and hot-rolled coil (HRC) narrowed in August, according to SMU’s most recent pricing data.

SMU Price Ranges: Market drifts lower still
All five of SMU's steel sheet and plate price indices declined this week, falling to lows last seen in February.

Discontentment brews in plate market with flat, status-quo pricing
Sources in the carbon and alloy steel plate market said they are less discouraged by market uncertainty resulting from tariffs or foreign relations, but are instead, eager to see disruption to the flat pricing environment.

Nucor lowers HR coil spot price by $15/ton
Nucor has implemented a double-digit price decrease on spot hot-rolled (HR) coil for the second consecutive week.