Gap Widens Between US and Foreign Hot Band Prices
US hot-rolled coil (HRC) tags moved higher again this week, widening the gap in pricing between imported offshore product.
Category: Overseas
SSAB Q3 Profits Fall on Slowdown in Europe, Despite Strength in US Plate
SSAB reported lower earnings in the third quarter on weaker demand in Europe that was only partially offset by solid demand for plate in North America.
Domestic HRC Prices Surpass Foreign Hot Band
US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.
CRU: Ore-Based Metallics Prices Mixed as Demand Weakens
Prices for ore-based metallics were mixed month-on-month (MoM) as lower finished steel production weighs on pig iron demand.
CMC Reports Strength in North America as Europe Struggles
With solid demand and attractive margins, the North American market has been helping to prop up CMC’s results as its European operations struggle with weaker demand amid challenging market conditions.
Foreign and Domestic HRC Prices Near Parity
US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.
US HRC Prices Move Nearly Even With Imports Again
US hot-rolled coil (HRC) and offshore product are nearing parity again after domestic prices moved higher this week and imports declined again.
US HRC Prices Remain Well Below Landed Price for Imports
US hot-rolled coil (HRC) prices were down again vs. offshore hot band this week. Domestic HRC lost more ground relative to imported product with US tags sinking at a faster rate than those overseas.
Leibowitz: Europe Aims to Impose Countervailing Duties on EVs From China
Trade policy moves create great ironies sometimes. I often write about these ironies when the US acts against the interests of the country as a whole by protecting certain industries from international competition. But the US is not alone, especially in recent years as the World Trade Organization and the international geopolitical order have been […]
Imported HRC Tags Climbing vs. US Product
US hot-rolled coil (HRC) continues to lose ground against imported hot band. Domestic product remains a better deal than offshore HRC as US tags sink further, according to SMU’s latest foreign vs. domestic price analysis.
US HRC Now a Better Bargain Than Imports
US hot-rolled coil (HRC) is now a better deal than imported hot band, something we haven't seen since early February, according to SMU’s latest foreign vs. domestic price analysis.
Domestic HRC Is Now Cheaper Than Imports
Domestic hot-rolled coil (HRC) is now cheaper than imported hot band as US tags have fallen further and at a faster clip than offshore product, according to SMU’s latest foreign vs. domestic price analysis.
Domestic and Imported HRC Prices Reach Parity
Domestic and imported hot-rolled coil (HRC) prices are nearly parallel as US tags continue to erode at a faster clip than offshore prices, according to SMU’s latest foreign vs. domestic price analysis.
US HRC Prices and Imports Are Nearly Even
The spread US hot-rolled coil (HRC) prices had held over offshore product for much of the year has almost evaporated, according to SMU’s latest foreign vs. domestic price analysis.
US HRC Prices Near Parity With Imports, a Stark Shift from H1'23
The spread between US and offshore hot-rolled coil (HRC) prices continues to narrow as domestic tags have declined further, according to SMU’s latest foreign vs. domestic price analysis.
HRC Imports Losing Edge Over US Prices
The spread between US and offshore hot-rolled coil (HRC) prices has narrowed to its lowest level since mid-February, when domestic prices were still trending upwards, according to SMU’s latest foreign vs. domestic price analysis.
Americas Provides SSAB Stability as Europe Struggles
While a weak European market is hampering SSAB’s quarterly results, the US market is providing more stability for the Swedish steelmaker. SSAB Americas’ second-quarter performance, together with those of the company’s Special Steels segment, provided a bright spot for the company despite the woes in Europe. SSAB produces steel plate at its US operations in […]
Americas Provides SSAB Stability as Europe Struggles
While a weak European market is hampering SSAB’s quarterly results, the US market is providing more stability for the Swedish steelmaker.
US Premium Over Foreign HRC Loses Ground
The US hot-rolled coil (HRC) premium over offshore product declined this past week, as prices abroad moved up while domestic tags declined, according to SMU's latest foreign vs. domestic price analysis.
Foreign HRC Losing Price Advantage Over US Product
The US hot-rolled coil (HRC) premium over offshore product declined this past week, as prices abroad moved up while domestic tags declined, according to SMU’s latest foreign vs. domestic price analysis. HRC tags stateside declined $20 per ton vs. the prior week, slipping to their lowest level since mid-February. Domestic prices are now down $290 […]
CRU: Stability Ahead Over the Near Term for Sheet Markets
By CRU senior analyst, Ryan McKinley Oversupply in most markets of the world is easing. The key trend we are following (and expecting to occur) is further output cuts in China, which should keep many markets more stable than they have been recently. In China, sheet oversupply will not ease in the coming week given […]
US Premium Over Foreign HRC Remains Unchanged
The US hot-rolled coil (HRC) premium over offshore product has changed little over the past few weeks, as both prices abroad and stateside have inched up in tandem recently, according to SMU’s latest foreign vs. domestic price analysis. HRC tags stateside are still down $280 per ton since peaking at $1,160 per ton back in […]
Strike Looms Over Canada’s West Coast Ports
After failing to reach a new collective labor agreement, port workers on Canada’s West Coast are set to strike as of July 1. Bargaining talks between the International Longshore and Warehouse Union Canada (ILWU Canada) and the British Columbia Maritime Employers Association (BCMEA), ongoing since February, have now stalled. ILWU Canada workers have continued to […]
SMU Market Survey Results Now Available
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.” If you need help […]
HRC vs. Plate Price Spread Rises to Four-Month High
With hot-rolled coil (HRC) prices falling faster than plate pricing, the price spread between the two flat-rolled products moved this week to its highest level since February. The $1,955-per-net-ton all-time high of average HRC prices was reached in September 2021. Prices then turned downward before jumping up again in March and April 2022, affected by […]
CRU: Weak Demand, Imports Push European Sheet Tags Down
European sheet prices have declined sharply by €112-146 per metric ton ($110-144 per net ton) month-on-month (MoM), around 12-18% across all sheet products. In CRU’s latest assessment, German hot-rolled coil decreased by €125 MoM to €689 per metric ton ($680 per net ton), while Italian HR coil saw a drop of €146 to €657 per […]
DOE Dishes Out Millions to Help Decarbonize Iron and Steel
The US Department of Energy has awarded 10 projects with a combined $31.9 million in funding to help decarbonize the iron and steel industry. Through its Low Emissions Steel Manufacturing Research Program, the DOE funding will focus on advancements enabling decarbonization in both ore-based and scrap-based steelmaking, it said. Projects that convert existing operations to […]
US Premium Over Foreign Hot Band Grows
Offshore hot-rolled coil (HRC) remains at a discount to domestic product, as prices abroad have eroded at a faster pace than tags stateside, according to SMU’s latest foreign vs. domestic price analysis. While prices of both imported and domestic hot band continue to decline, domestic HRC’s declines have not been consistently as sharp as the […]
US Hot Band Premium Over Imports Declines
Hot-rolled coil (HRC) imports remain at a discount to domestic hot band, though the US premium has declined to its lowest margin in over three months, according to SMU’s latest foreign vs. domestic price analysis. While both offshore and US product continue to decline, domestic HRC just saw its sharpest week-on-week (WoW) fall year to date, […]
US Hot Band Keeps Premium Over Imports in Falling Market
Hot-rolled coil (HRC) imports remain at a discount to domestic hot band tags as both offshore and US product continue to decline at a similar rate, according to SMU’s latest foreign vs. domestic price analysis. Even as domestic tags have been on a seven-week decline, HRC imports have fallen at a comparable rate, keeping US hot […]