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    Steel Imports Trending Down in September

    Written by Brett Linton


    With about a week left in the month, U.S. steel imports in September are trending to total about 2 million tons, based on Steel Market Update’s projection of Commerce Department license data.

    Total imports in both August and September are significantly below average, primarily because of the surge in semifinished imports in July. Slab imports, notably from Brazil, are subject to quarterly quotas, so domestic mills were quick to secure tons of imported slabs in July, the first month of the third quarter. Licenses for slab imports can be expected to jump again in October as the fourth quarter begins.

    Brett Linton

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    Mills seek more scrap after lower prices fail to attract tons

    Several mills that bought October scrap early last week are still asking for additional supplies, scrap market participants said. The reason: the mills' initial prices did not attract enough of the raw material, they said. A trading source based in northern Ohio said three mills have contacted his firm seeking offers for additional tons. He said the mills asked for offers even if prices were higher than their original buys last week.

    Nucor increases spot HR to $1,240/ton

    Nucor said on Monday, Oct. 12, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,240 per short ton (st) this week, a $10/st increase from a week earlier. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,305/st, up $15/st from the prior week. Nucor is still offering lead times of three to five weeks, according to the letter to customers. You can track mill price announcements on our website. Steel Market Update (SMU) published a weekly price assessment on Tuesday, Oct. 6, showing HR coil prices averaging $1,270/st, up $10/st from the previous week. We will update our prices on the evening of Tuesday, Oct. 13.