Steel Products Prices North America
U.S. Steel, NLMK, UPI Follow with $40 Price Hikes
Written by Tim Triplett
July 11, 2019
As widely expected, U.S. Steel, NLMK USA and USS-POSCO Industries notified customers Wednesday that they have increased flat rolled steel prices by $40 per ton, following on similar announcements by Nucor and ArcelorMittal the day before. All total, U.S. steelmakers have raised prices for hot rolled, cold rolled and galvanized steels by $80 per ton in the past two weeks in the hopes of reversing a slide that has cut 40 percent from the price of their products over the past year.
In its initial price change two weeks ago, NLMK published minimums of $560 per ton for hot rolled and $700 for cold rolled and coated products. Adding the latest $40 increase raises the market price NLMK (and the other mills) hope to collect up to $600 for HR and $740 for CR and galvanized steel.
Steel Market Update’s latest data collected this week places the current benchmark price for hot rolled at $535 per ton, cold rolled at $700 and galvanized at $710. So, the mills have a ways to go if they hope to collect the full increase. It appears they’ve already made some headway, however. SMU data shows the current average market price is up $15 from last week. Whether this marks the turnaround point for steel prices depends on how well the market accepts the latest price hikes in the coming weeks. Meanwhile, SMU’s Price Momentum Indicator will remain at Neutral until the market establishes a clear direction.
Tim Triplett
Read more from Tim TriplettLatest 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.