Price gap between US HRC, imports narrows
The price gap between stateside hot band and landed offshore product shrank week over week (w/w).
Category: Product
SunCoke and Cliffs extend coke contract
SunCoke Energy Inc. and Cleveland-Cliffs Inc. have agreed to extend their coke supply agreement for another three years.
SMU Steel Demand Index falls back, remains in contraction
The SMU Steel Demand Index slackened from late October, remaining below expansion territory, according to SMU's mid-November indicators.
Scrap export market sees activity but no price boom
The bulk scrap export market has experienced a great deal of action lately, but that has not resulted in runaway pricing.
SMU price ranges: Sheet and plate prices rise further
SMU’s price indices increased across the board this week, reaching new multi-month highs.
Algoma finalizes CA$500M loan from Canadian government
Algoma Steel plans to continue its transition to electric-arc furnace (EAF) steelmaking using the CA$500 million in loans from the Ontario provincial and Canadian federal governments.
SMU Mill Order Index jumped in October
SMU’s Mill Order Index (MOI) surged in October after a notable decline the month prior. The recovery came as service center on order inventory totals picked up, supported by a slight uptick in shipments, according to our latest service center inventories data.
US scrap market picks up steam
The US scrap market is showing some signs of strength in certain regions shortly after the November settlements finalized without detectable resistance.
October service center shipments and inventories report
US service centers’ flat-rolled steel supply edged lower for the third straight month, reaching 53.3 shipping days of supply on an adjusted basis at the end of October, according to SMU data.
Tenaris unit buys SA Recycling yard in Pennsylvania
A Tenaris subsidiary, Steel Recycling Services, has acquired the Beaver Falls, Pa., scrap processing yard of SA Recycling.
Nucor ups HR coil prices by $15/ton to $910/ton
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week. Now at $910 per short ton (st), up $15/st from last week.
US rig count ticks higher, Canada falls
The latest Baker Hughes rig count report showed oil and gas drilling improved in the US this past week, while Canada saw its rig count decline.
Low demand amid mill price hikes confounds sheet market participants
US sheet market participants say demand for hot- and cold-rolled coils has not increased, leaving them confused by mill price increases and average lead times.
SMU Survey: Sheet lead times inch higher, plate shrinks
Steel mill lead times extended marginally this week on most sheet products but declined for plate, according to responses from SMU’s latest market survey.
SMU Survey: Buyers say mills less willing to negotiate prices
Just over half of the steel buyers who responded to our market survey this week reported that domestic mills are willing to talk price on new spot orders. Mills have begun to hold a firmer stance on prices over our last two surveys.
Gap between US HR prices and imports widens slightly
The price gap between stateside hot band and landed offshore product has marginally widened week over week.
Miller on Raw Materials: Pig iron market slows down
The pig iron market is at a standstill since the last sale to the US several weeks ago.
NLMK USA raising HR, CR $50/ton, coated at $150 above HR base
NLMK USA is aiming to increase base prices on all products, effective immediately.
HRC vs. prime spread widens again in November
The price spread between HRC and prime scrap has widened for a second month, based on SMU’s most recent pricing data.
Great Lakes iron ore shipments slow in October
US-flagged shipments of iron ore on the Great Lakes are on the decline. Ore shipments in October were the lowest they’ve been for that month in five years.
SMU Price Ranges: Sheet and plate products inch higher
SMU's sheet and plate steel prices moved higher in unison this week.
JSW increases plate prices by $40/ton
JSW Steel USA aims to increase steel plate prices by at least $40/short ton.
Nucor increases HR spot price by $5/ton
Nucor increased its weekly hot-rolled coil spot list price by $5 per short ton on Monday, Nov. 10.
US and Canadian rig counts tick higher
The latest Baker Hughes rig count report showed oil and gas drilling improved in both the US and Canada in the first week of November.
SMU scrap market survey results now available
SMU’s November ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “ferrous scrap survey” results. Past scrap survey results are also available under that selection. If you need help accessing the survey […]
Final Thoughts: Nippon makes good on USS capex promises
Nippon Steel is making good on the big capex promises it made to secure its purchase of United States Steel Corp. This week, the Japanese company and American steelmaker together unveiled various capital investments they plan to make across U.S. Steel’s footprint.
Gap between US HR prices and imports narrows
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.
AM Dofasco and Stelco push sheet prices up, Atlas Tube follows
ArcelorMittal Dofasco and Stelco joined recent moves by US mills to push sheet prices higher.
SMU Price Ranges: Steel sheet notches another week of modest gains
Most sheet prices inched up again this week following mill efforts to set a floor under tags and to increase them from there.
SunCoke guides lower on domestic coke, cites Algoma breach and weak spot demand
SunCoke Energy’s earnings declined in the third quarter as weaker domestic coke sales and contract economics weighed on results.