Category: Prices

SMU's sheet and plate steel prices moved higher in unison this week.

JSW Steel USA aims to increase steel plate prices by at least $40/short ton.

Nucor increased its weekly hot-rolled coil spot list price by $5 per short ton on Monday, Nov. 10.

US steel mills have received a boost from lower import levels because of sweeping tariffs this year. However, demand remained moderate in most sectors, aside from data center construction, after the summer.

The market has entered into a bit of a quiet recalibration, the kind of pause that feels like a held breath. Prices have stopped falling. Lead times have stretched just enough to create firmer footing. The urgency of downside risk has faded, but maybe (not quite yet) moved on.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.

The gap between US hot band prices and imports narrowed slightly. But with the 50% Section 232 tariffs, most imports remain more expensive than domestic material.

ArcelorMittal Dofasco and Stelco joined recent moves by US mills to push sheet prices higher.

Most sheet prices inched up again this week following mill efforts to set a floor under tags and to increase them from there.

Nucor increases HR spot price by $5/ton

Most steel buyers think that steel prices will continue to rise into the 2026. But they don’t see the kinds of big gains that have characterized past market upturns, according to the results of SMU’s latest steel market survey.

Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet and plate products than they were in recent weeks.

In dollar-per-ton terms, US product is on average $141/st less than landed import prices (inclusive of the 50% tariff). That’s down from $148/st last week.

Sheet steel indices increased across the board this week, while plate prices held steady. All five of SMU’s price indices are higher than they were two weeks ago, and all but one are above levels recorded four weeks ago.

Nucor has raised its weekly spot list price on hot-rolled coil by $10 per short ton (st) after keeping it unchanged since Aug. 25.

Atlas Tube, in a leading move, said it aims to increase prices for mechanical tubing, hollow structural sections (HSS), and piling products by at least $50 per short ton (st).

US buyers want to drop pig iron prices to levels commensurate with the decline in prime scrap in their domestic market. Prime price shed $20 per gross ton (gt) in September and another $20/gt in October.

NLMK USA plans to increase prices for hot-rolled and cold-rolled coil by at least $50 per short ton (st). The move is effective immediately for all spot orders, the steelmaker said in a letter to customers on Friday.

The steelmaker released updated extras to customers on Oct. 15, marking the second adjustment in just six weeks following their early September revision

As another month goes by and another futures columnist starts by saying “not much to see here,” I understand that a reader might flip their brain to skim mode.

SMU’s average price for domestic HR coil moved $5 higher this week, while price movements in offshore markets varied. This dynamic...

Our average HR coil price increased $5/short ton from last week, marking a second consecutive week of modest gains. Market participants generally attributed the increase to...

Nucor kept its consumer spot price (CSP) for hot-rolled coil at $875 per short ton (st) for the ninth straight week.

After marginally rising in August and September, the premium galvanized coil carries over hot-rolled coil (HRC) coil has narrowed again in recent weeks. As of Sept. 16, the spread between these two products has shrunk to a two-and-a-half-year low of $125 per short ton (st).

Genuine demand, they stated, will return when the market feels stable again.

SMU’s average price for domestic hot-rolled (HR) coil was $800 per short ton (st) this week, up $5/st week on week (w/w). In offshore markets last week, prices were varied.

US scrap prices fell on busheling and shredded in October, while HMS remained flat, market sources told SMU.

Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.

SMU’s HR price stands at $800/st on average, up $5/st from last week. The modest gain came as the low end of our range firmed, and despite the high end of our range declining slightly.

SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).