Market Data
March 27, 2024
Written by Brett Linton
The dollar premium cold-rolled coil (CR) carries over hot-rolled coil (HR) continues to expand according to our latest check of the market. The spread between these two products is now up to $305 per short ton (st), one of the highest weekly deltas seen over the last 17 months.
Figure 1 below shows SMU’s average HR and CR base prices as of March 26.
Domestic raw steel output declined last week, after seeing continued swings over the past several weeks, according to the latest American Iron and Steel Institute (AISI) figures.
Nucor's consumer spot price for hot-rolled increased by $10/st w/w on Monday, Oct. 5 to $1,230 per short ton.
The latest tally of active drilling rigs increased in Canada while slightly easing in the US this week, according to oil and gas rig count data published by Baker Hughes.
SMU’s Current Steel Buyers’ Sentiment Index fell this week, while Future Sentiment remained flat, according to our latest market survey.
The results of the latest Steel Market Update (SMU) flat-rolled market survey are now available on our website to all premium members.