• Skip to main content

    Prices

    March 26, 2020

    Preliminary Data Suggests February Imports at 10-Year Low

    Written by Brett Linton

    Preliminary steel import license data for February, released this week, slipped to the 1.5 million net ton range for total steel imports, according to the U.S. Department of Commerce. Steel Market Update’s last import update just one week ago had February imports at 1.9 million tons. This is the lowest monthly import level seen since December 2009 when final imports were at 1.4 million tons. Final February data usually varies only slightly from these preliminary figures, but the early effects of the coronavirus on the economy make this data unpredictable.

    Other notable lows in February: OCTG imports have not been this low since September 2016, and cold rolled imports have not been this low since July 2013.

    Brett Linton

    Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

    Read more from Brett Linton

    Latest in Prices

    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.