Steel Products Prices North America

November Steel Imports Trending Below 3 Million Tons
Written by John Packard
November 15, 2018
The U.S. Department of Commerce has released import license data for the months of October and November through the 13th of the month. October foreign steel imports are expected to reach 3 million net tons on the back of almost 900,000 net tons of semi-finished steels (mostly slabs going to the domestic steel mills). It is still very early to predict the final November tonnage, which at the moment it is running 200,000 tons lower than October.
This is our first report regarding November, which is trending toward 2.8 million net tons. This is slightly lower than the 12-month moving average, but in line with the 3-month moving average.
When looking at finished steels (minus semi’s), the trend for November is to be in line with October’s levels at 2.1 million net tons.
Oil country tubular goods (OCTG) imports are trending in line with what we saw for September and October.
Hot rolled is trending 10,000 to 20,000 tons lower than the previous two months. Cold rolled is essentially flat. Galvanized for November is running about the same as the 12- and 3-month moving averages.
Galvalume is surging, however, which is common for this time of the year. AZ is trending to over 100,000 net tons for the month of November after being fairly consistent in the mid to upper 70’s.
Coiled plate is trending lower, while cut plate is running close to the 12-month moving average.

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

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.

Nucor carries $875/ton HR list price into week seven
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Oct. 6

SMU Price Ranges: A newsy week sees modest price gains despite a quiet spot market
Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.

Nucor increases plate prices by $60/ton
Nucor aims to increase prices for steel plate by $60 per short ton with the opening of its November order book.