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    Final July Steel Imports Near 2.7 Million Tons

    Written by Brett Linton


    Recently released Census data shows final July steel imports totaled 2.70 million net tons, up 93 percent from June due to the quarterly reset on semifinished import quotas. This final July figure is just 5,995 tons higher than the preliminary import figures SMU reported one week ago.

    Finished imports in July totaled 1.43 million tons, up 7 percent from June, but down 5 percent from May figures. Imports of semifinished products (mostly slabs) were 1.27 million tons in July, up from just 69,000 tons the month prior.

    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.