Product
April 15, 2022
Written by Brett Linton
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.”
Historical survey results are also available in the Survey Results section under “Survey Results History.”
Gerdau announced on Nov. 2 that it will raise special bar quality (SBQ) prices by $60 per short ton ($3/cwt). The increase is effective for all new orders and shipments starting Jan. 1, 2027, according to a letter sent to customers. It applies to all hot-rolled carbon and alloy SBQ products, including rounds, squares, flats, special sections, and thermally processed products.
Metallus reported improved year-over-year profitability in the third quarter, but expects seasonal softness and planned maintenance to weigh on fourth-quarter results. The specialty metals producer pointed to continued demand and a new defense contract as supports for growth.
Mexican longs producer Deacero has cast the first billet at its new minimill in Ramos Arizpe, Mexico, moving the Danieli-supplied caster into commissioning. It's a key milestone for Deacero's $600-million Ramos II mini-mill, said Italian plant engineering and equipment provider. "The achievement further strengthens the long-standing collaboration between Deacero and Danieli, and further confirms Danieli’s already-established presence in the Mexican long-products market," the company said in a statement on Nov. 2.
Buyers in SMU’s latest Flat-Rolled Steel Survey increasingly expect hot-rolled (HR) coil prices to keep climbing into year-end and beyond. But competitive import offers have not yet eased concerns about tight availability: most surveyed manufacturers and service centers said foreign suppliers were quoting competitive prices, while many service centers said they were still buying imports to secure additional tons. As of Tuesday, Oct. 27, current spot prices for HR coil range from $1,280 per short ton (st) to $1,330/st, averaging $1,305/st, according to SMU’s market survey. Looking two months ahead, 41% of respondents to our Oct. 28 survey expected HR coil prices to be $1,300-1,349 per short ton (st) in two months, down from 47% in our survey two weeks earlier.
Nucor said on Monday, Nov. 2, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,280 per short ton (st) this week, up $10/st from last week. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,350/st, also up $10/st from a week earlier. Nucor continues to offer lead times of three to five weeks, according to its letter to customers. You can track mill price announcements on our website. Steel Market Update published a weekly price assessment on Tuesday, Oct. 27, showing HR coil prices averaging $1,305/st, up $15/st from the previous week.