Product
July 23, 2020
SMU Steel Summit 2020 Virtual Conference Agenda
Written by Brett Linton
Below is the agenda for the 2020 SMU Steel Summit Conference. For more information and to register, visit: www.SteelMarketUpdate.com/Events/Steel-Summit.
Latest in Product
US steel exports slip in August to 6-month low
US steel exports fell 3% from July to August, continuing the decline from June’s 17-month high, according to recently released US Department of Commerce figures. Exports have been historically low for over a year and remain weak in comparison to volumes seen across 2022-2024. August trade was down 2% compared to the same month of 2025, 25% lower than August 2024, 29% lower than August 2023, and 21% lower than August 2022.
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.
October scrap market chatter
Every month, SMU polls scrap market participants on a variety of topics—including prices, business conditions, and what they think the future holds. We received the data and comments below last week, before the October market had entirely settled. And as it turns out, survey respondents mostly got it right. Broadly speaking, all survey respondents said demand was stable (56%) or improving (44%). None reported a decline in demand. We haven't seen this many people reporting improving demand since February.
Leibowitz: US steel prices skyrocket above world prices. Which are right?
Steel markets in the United States now feature supply shortages. Spot tons are well-nigh unavailable, and even contract tons are scarce. Based on the available statistics, the US market for flat-rolled products is seriously constrained. The US economy is still the strongest in the world, and manufacturing output remains vigorous. But the available supply is tight. The reason is fairly obvious. US domestic supply has increased a bit. Meanwhile, imports have fallen significantly.
SMU scrap market survey results now available
SMU’s October ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the Pricing and Analysis tab and look under the “survey results” section for Ferrous Scrap Survey results. Past scrap survey results are also available under that selection. If you need help accessing the survey results or if your company would like to have your voice heard in our future surveys