Sheet
May 3, 2024
Written by Brett Linton
March steel import data was finalized at 2.52 million short tons (st) this week, according to the latest US Commerce Department release. March represents the third highest monthly rate seen over the prior year. April import licenses now tally up to 2.62 million st as of May 1, potentially surpassing March by 4% and now in the running for the second highest month of the past year.
Sheet and plate prices continued to tick mostly higher this week amid a supply squeeze that shows no signs of loosening its grip on the US market.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.
Nucor said on Monday, Sept. 21, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,210 per short ton (st) this week, a $10/st increase from a week earlier.
The Commerce Department has found high dumping rates of Chinese tin mill products in the US market.