Sheet
January 31, 2025
Written by David Schollaert
The price spread between US-produced cold-rolled (CR) coil and offshore products narrowed again in the week ended Jan. 31, as imports edged higher and US product ticked lower.
Domestic CR coil tags were down week on week (w/w), while offshore markets moved mostly higher. The result? The US premium over imports shrank for a third straight week.
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.