• Skip to main content

    Prices

    Weekly Steel Production Swings Back Up

    Written by David Schollaert


    Weekly raw steel production by U.S. mills continues to fluctuate–up five of the last seven weeks–as the week ending Feb. 13 totaled 1,743,000 net tons, up 2.2% from the week prior when production was 1,705,000 tons. The mill utilization rate was 76.9%, up from 75.2% one week ago, yet down 5.5% compared with the same period last year when production was 1,844,000 net tons.

    Adjusted year-to-date production through Feb. 13 totaled 10,808,000 net tons, at an average utilization rate of 75.9%. That’s down 8.7% from the same period last year then the utilization rate was 82.2% and production was 11,837,000 net tons, AISI said.

    David Schollaert

    Read more from David Schollaert

    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.

    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.