Sheet
November 22, 2024
Written by David Schollaert
The price spread between US-produced cold-rolled (CR) coil and offshore products on a landed basis widened slightly in the week ended Nov. 22.
Domestic CR coil tags move up week on week (w/w), while offshore products saw mixed results, though the stateside premium over imports grew somewhat.
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.