Steel Products Prices North America
Final September Imports at 2.8 Million Tons
Written by John Packard
November 8, 2016
The U.S. Department of Commerce (DOC) released Final Census Data on imports of foreign steel for the month of September 2016. Imports totaled 2,775,565 net tons which is 9.5 percent below the August import numbers. The U.S. continues to see strong imports of semi-finished steels (slabs/billets) which are used by the domestic steel mills. Hot rolled was down from both the 12 month and 3 month moving averages as was coiled plate and cut plate. OCTG and cold rolled were below the 3MMA but above the 12MMA. Both galvanized and Galvalume were above both the 12MMA and 3MMA.
As we look at October license data the month is setting up to be slightly higher than September with growth being seen in OCTG (oil country tubular goods), cold rolled and a big spike in Galvanized. The spike in galvanized was not due to Vietnam but rather Turkey (27,000 net tons), Brazil (33,000 net tons) and Taiwan (31,000 net tons).
The November trend is based on only 8 days of license data, we recommend that you ignore it until we revise it next week.
John Packard
Read more from John PackardLatest in Steel Products Prices North America
HRC-galvanized price gap edges higher
The premium galvanized coil carries over hot-rolled coil (HRC) coil has marginally widened in recent months. As of Sept. 16, the spread between these two products reached a three-month high of $175 per short ton (st), though it is still low by historical standards.
SMU Price Ranges: HR slips, hopes for Q4 rebound still standing
SMU’s price ranges were mixed again this week as the market continues to seek a floor amid industry hopes for a Q4 rebound.
Nucor’s hot band list price holds at $875/ton
Nucor held its hot-rolled coil list price flat again this week, according to its Monday, Sept. 15 consumer spot price (CSP) notice.
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
SMU Price Ranges: Some predict bottom is near as big discounts dry up
Sheet prices were mixed this week as some mills continued to offer significant discounts to larger buyers while others have shifted toward being more disciplined, market participants said.