Steel Products Prices North America

March Steel Imports Trending Toward 3.5 Million Tons
Written by Brett Linton
March 29, 2018
The steel import trend for the month of March is now approaching 3.5 million tons. This trend is based on license data through the 26th of March. If the month ultimately comes in above 3.2 million tons, it will top both the 12-month and the 3-month moving averages for steel imports.
SMU assumes that a portion of the increase above the January and February numbers is due to the March 23 deadline for the Section 232 tariffs. If traders could get the boats in, or at least get the paperwork through the system in time to beat the deadline, they have done so.
There is a big move in semi-finished steels (mostly slabs) now trending toward 835,000 tons.
There is also a big move in OCTG (oil country tubular goods), hot rolled and galvanized steels, which all are trending above their 12-month and 3-month moving averages.
SMU has spoken to a number of traders who indicate we may not see a huge drop-off in imports for the month of April. The combination of boats on the water, plus the fact that foreign is so much cheaper than current spot pricing out of the domestic mills, is keeping the steel coming.
We will continue to follow developments regarding imports for both March and April as data becomes available.

Brett Linton
Read more from Brett LintonLatest in Steel Products Prices North America

SMU Price Ranges: Tags mixed as uncertainty weighs on market
SMU’s hot-rolled (HR) coil price held steady this week while prices for other sheet and plate products declined.

Nucor spot HR list price unchanged at $875/ton
Nucor kept its weekly list price for hot-rolled (HR) coil unchanged this week, following a price bump of $10 per short ton (st) last week.

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.