Category: Sheet

Sheet prices slipped again this week on a combination of moderate demand, increased imports, and higher import volumes.

Nucor’s Consumer Spot Price (CSP), a legitimate mill offer price, is a potential disruptor to North American steel sheet commercial and procurement strategies. We will dive into the details of what we think the CSP is and why we believe it is a potential disruption to how the North American sheet market operates.

Steel Market Update’s Steel Demand Index fell five points to a 12-month low and moving further into contraction territory, according to our latest survey data.

The latest SMU 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 “latest survey results.” Historical survey results are also available under that selection. If you need help accessing the survey results, or if […]

Lead times on most steel products tracked by SMU held steady or contracted this week compared to two weeks earlier, according to our latest market survey.

From integrated to EAF, from hot-dipped galv to cold-rolled sheet, to the reputable vacuum tank degasser, the steel industry definitely has its own jargon. And we know our readers know that lingo backwards and forwards. Rather than test you on it, we thought we'd do something different.

U.S. Steel’s board of directors has published a letter accusing Cleveland-Cliffs of a campaign of “misinformation” intended to “derail the transaction” of Japan’s Nippon Steel Corp. (NSC) to buy the Pittsburgh-based steelmaker. However, Cliffs has clapped back, with a release rebutting USS’ allegations.

Big River Steel (BRS) made upward revisions to most of its galvanized coating extras this week, with new extras going into effect July 6.

Domestic raw steel production continued to ramp up through last week, now up to a six-week high according to the latest release by the American Iron and Steel Institute (AISI).

The CRU US Midwest hot-rolled (HR) coil index is a dominant and established price benchmark in the US. Many steel-buying contracts are linked to ‘the CRU,’ as it’s commonly called. But how does it work?

Mexican steelmaker Talleres y Aceros (TYASA) broke ground this month on the construction of a new special bar quality (SBQ) rolling mill in the state of Veracruz.

The Biden administration announced a series of actions on Tuesday targeting China’s "unfair" trade policies. These actions will, among other things, make imports of steel and aluminum from the Asian nation even more prohibitive.

Steel prices were overall mixed this week, according to our latest check on the market. Sheet prices were flat to down, while plate prices inched up. SMU indices on hot rolled, cold rolled, and galvanized are now down to the lowest levels seen since November.

Wolfe Research Managing Director Timna Tanners cautioned clients about the darkening clouds of a brewing steel sheet storm in the company's Basic Materials Weekly Webcast on Monday. “This one we’ve been talking about for a while, and we feel like the theme is coalescing here,” she said.

Nucor chose to hold its consumer spot price (CSP) for hot-rolled (HR) coil steady this week after stunning the market last week with a significant price decline. The steelmaker said in a letter to customers on Monday morning that its $760-per-short-ton (st) CSP base price for HR coil is effective immediately. The price is unchanged from the CSP announced on May 6 but down $65/st from $825/st April 29.

Offshore cold-rolled (CR) coil prices remain much less expensive than domestic product, even as domestic prices have slipped to a six-month low, according to SMU’s latest check of the market.

Most steel products tracked by SMU saw lead times contract this week from two weeks earlier, according to SMU’s most recent survey data.

Sheet prices fell across the board this week – largely in response to Nucor’s $65-per-short-ton price cut for hot-rolled (HR) coil on Monday morning. SMU’s HR coil price is $780/st on average, a $35/st decrease week over week (w/w). Our average cold-rolled coil price is $1,090/st (down $30/st w/w). Our galvanized base price is $1,100/st […]

March 2024 represents the third highest monthly steel import rate seen over the prior year.

US steel mill shipments dropped in March on-year but were up from February, according to the most recent figures from the American Iron and Steel Institute (AISI).

Northwest Pipe’s profits more than doubled in the first quarter on-year, as the company expects a strong remainder of the year in both its steel pressure pipe and precast segments.

Ryerson swung to a loss in the first quarter of 2024, but the company’s chief executive sees less volatility in the sheet steel market.

Latest AA extrusion shipment report shows persistently weak demand The US Aluminum Association released its latest shipment report for extruded products. According to the report, shipments in March 2024 totaled 383.2 million pounds, representing a drop of 10.6% y/y but a rise of 4.5% m/m. For the YTD period through March, total shipments are now […]

Foreign cold-rolled (CR) coil remains much less expensive than domestic product, according to SMU’s latest check of the market.

Sheet steel buyers said mills are more willing to talk price on spot orders, according to our most recent survey data.

Steel imports held steady in March, up just 1% from February according to preliminary Census data released earlier this week.

Cleveland-Cliffs is working on a solution for its recently idled mill in Weirton, W.Va., that will address pent-up demand for transformers, increase the need for its electrical steel, and get its workforce back to work.

Sheet prices were again mixed this week – all seemed to highlight the momentum shift seen over the past two weeks.

Zekelman Industries will invest up to $120 million to expand the manufacturing capabilities and product offerings of its Atlas Tube subsidiary in Mississippi County, Ark.

Last week gave us a glimpse into the effect of the 2024 election campaign on trade policy. In a major announcement, the Biden administration pressed the US Trade Representative (USTR) to triple certain Section 301 tariffs on steel and aluminum. It’s a lot to unpack. You can find the full text of the announcement here. […]