Steel Products Prices North America
Steel Imports Jump 7.1% Through May
Written by Tim Triplett
June 25, 2021
U.S. steel imports through the first five months of 2021 totaled 11,780,000 net tons, a 7.1% increase from the same period last year, based on preliminary Census data reported by the American Iron and Steel Institute (AISI). Of that, finished steel imports amounted to 7,966,000 tons, an 8.8% increase, as buyers in the U.S. were forced to place more foreign orders when domestic supplies fell short of their needs.
The U.S. imported 2,513,000 net tons of steel in May, including an 11.3% increase in finished steel imports versus the prior month to 1,845,000 tons.
Annualized, total steel imports are on track to rise by 28.4% and finished steel imports by 18.5%, according to AISI’s calculation. Market share of finished steel imports in May was an estimated 20%.
Key finished steel products that have seen significant increases in imports year to date include hot rolled sheets (up 42%), sheets and strip all other metallic coatings (up 30%), cut-length plates (up 30%), plates in coils (up 28%), tin plate (up 17%), wire drawn (up 16%), and sheets and strip galvanized hot dipped (up 12%).
Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America
Domestic plate prices could heat up despite so-so demand, market sources say
Some sources also speculated that plate could see further price increases thanks to modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.
SMU Price Ranges: HR holds, galv slips amid competing market narratives
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.
Nucor carries $875/ton HR list price into week seven
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Oct. 6
SMU Price Ranges: A newsy week sees modest price gains despite a quiet spot market
Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.
Nucor increases plate prices by $60/ton
Nucor aims to increase prices for steel plate by $60 per short ton with the opening of its November order book.