Steel Products Prices North America

Flat Rolled Mills Push for Turnaround in Prices with a $40 Increase
Written by Tim Triplett
June 25, 2019
Hoping to put an end to declining flat rolled prices, a handful of steelmakers announced $40 per ton increases today, effective immediately on unconfirmed orders.
The Nucor Sheet Mill Group was the first to announce that it is increasing base prices on new orders of hot rolled, cold rolled and galvanized steel by a minimum of $40 per ton.
Following Nucor’s lead, USS-POSCO Industries (UPI) also raised its base prices for all sheet products, including hot rolled P&O, cold rolled and galvanized, by $40 per ton. Published price book extras continue to apply, the company noted.
NLMK USA did not announced an increase per se, but released minimum base prices of $560 per ton for hot rolled, $700 per ton for cold rolled and $700 per ton for coated steels. Sources tell SMU that JSW USA intends to follow NLMK’s lead.
The benchmark price for hot rolled steel has declined by around 40 percent since peaking at $910 per ton last July. Steel Market Update data shows the current average hot rolled price at around $520 per ton. SMU has moved its Price Momentum Indicator from Lower to Neutral until the direction of steel prices becomes clear.
The last attempt by the major mills to raise prices was four months ago, around Feb. 20-21, when they announced a $40 price hike, but the increase failed to stick and prices have continued to slide ever since.
Observers commenting to Steel Market Update appear split on the likelihood the market has found a bottom. Some believe strongly the price increase will gain support from service centers and distributors who are tired of watching their margins shrink as the value of their inventories declines. Others are convinced steel prices will wallow until demand improves or scrap prices rebound.

Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America

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.

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.