Steel Products Prices North America
Three Steel Mills Announce Flat Rolled Price Increases
Written by John Packard
November 16, 2017
Nucor became the first sheet mill to step out and attempt to nudge hot rolled, cold rolled and galvanized steel prices higher. On Wednesday afternoon the Nucor Sheet Group announced a new $30 per ton ($1.50/cwt) price increase to be “effective immediately.”
The Nucor announcement was quickly matched by NLMK USA who put a letter out to their customers of their intention to take spot pricing up by $30 per ton ($1.50/cwt).
ArcelorMittal USA also came out with an email to their customers advising that they too are taking spot transactions up by $30 per ton. In October, ArcelorMittal USA was the first to make a flat rolled price increase announcement and instead of moving by a set dollar per ton amount they instead provided minimum base prices. Hot rolled was $625 per ton ($31.25/cwt) with cold rolled and coated products being $200 per ton higher at $825 per ton ($41.25/cwt). ArcelorMittal did not provide base price guidance related to the latest price announcement.
AK Steel, which hasn’t made an announcement since September 6, 2018, has so far remained moot. The other mills not referenced above are thinking through the process and have not yet advised their customers.
Nucor Sheet Group has announced seven (7) price increases during this calendar year totaling $225 per ton on hot rolled and $215 per ton on cold rolled and coated products. The last increase prior to this week was +$40 per ton made on October 18.
Steel Market Update has hot rolled as averaging $605 per ton this week prior to the announcement. Cold rolled average was reported to be $795 per ton ($39.75/cwt) and galvanized at $770 per ton ($38.50/cwt).
John Packard
Read more from John PackardLatest in Steel Products Prices North America
Thin demand keeps plate prices hovering at lowest levels since February
Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.
SMU Price Ranges: HR crawls back to $800/ton
SMU’s HR price stands at $800/st on average, up $5/st from last week. The modest gain came as the low end of our range firmed, and despite the high end of our range declining slightly.
SMU successfully completes IOSCO review
SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).
Domestic plate prices could heat up despite so-so demand, market sources say
Some sources also speculated that plate could see further price increases thanks to modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.
SMU Price Ranges: HR holds, galv slips amid competing market narratives
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.