Category: Sheet

US hot-rolled coil (HRC) prices were again lower this week, pushing the price premium domestic hot band carries over imported products lower vs. the prior week.

Domestic steel shipments increased in December on-year but were down from the previous month, according to the latest data released by the American Iron and Steel Institute (AISI).

Sheet prices fell across the board this week as SMU’s hot-rolled (HR) coil price slipped below $1,000 per short ton (st) on average for the first time since November.

Domestic production of raw steel recovered a bit last week, according to the most recent data from the American Iron and Steel Institute (AISI). The result was the first increase in roughly a month.

Steel mill lead times for sheet products saw substantial declines over the past two weeks, while production times for plate held steady during the month of January.

Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its March order book. The Charlotte, N.C.-based steelmaker said in a letter to customers on Tuesday, Jan. 30, that tags would be lowered by $50 per short ton (st) to $1,380/st.

Sheet prices were mixed this week, with hot-rolled (HR) coil unchanged but cold-rolled and coated prices down.

With rising steelmaking capacity and relatively flat demand, industry analysts are predicting lower prices for sheet products this year.

Rising geopolitical tensions may threaten stability, while other factors like a climbing stock market and growing government investment point to one thing in the economy: it’s complicated. “It’s an interesting contradiction out there,” said Dr. Walter Kemmsies, managing partner of The Kemmsies Group, at the Tampa Steel Conference this week. In his keynote speech on […]

Domestic production of raw steel moved down marginally last week, according to the most recent data from the American Iron and Steel Institute (AISI). The decline was the third straight dip in as many weeks. Steel output in the US totaled an estimated 1,680,000 short tons (st) in the week ended Jan. 27. That’s down […]

I’m writing these final thoughts from the JW Marriott in Tampa. And I’m looking forward to seeing some of you reading this in just a few hours at the opening networking reception of the Tampa Steel Conference. Nearly 550 people will be there – a new record for the event. If you’re looking for things […]

US hot-rolled coil (HRC) prices declined further this week, easing to their lowest level since late November. And while domestic tags remain notably more expensive than offshore product, the premium has declined as imported hot band tags have moved higher.

We’re just a week away from the 35th annual Tampa Steel Conference! It’s one of the premier domestic steel conferences and the first can’t-miss event of 2024. If you haven’t already registered, there is still time but make sure to book now!

The premium plate has held over hot-rolled coil (HRC) has been narrowing but remains elevated compared to historical levels.

US hot-rolled coil (HRC) prices edged down this week while import prices moved higher on average. Domestic hot bands’ premium over cheaper imports declined as a result. But overall, US product remains substantially more expensive than overseas material. All told, US HRC prices are 21.4% more expensive than imports, a premium that is down three […]

Domestic buyers of steel sheet said mills were much more willing to negotiate spot pricing this week, according to our most recent survey data.

US hot-rolled (HR) coil prices fell noticeably this week for the first time since late September. SMU’s hot-rolled coil price now stands at $1,025 per ton on average, down $25 per ton from last week. Cold-rolled (CR) coil was unchanged at $1,325 per ton.

Domestic scrap prices ended up down slightly after a roller coaster of trading in January, scrap sources told SMU.

Coming out of a strong fourth quarter, galvanized steel market participants are reporting an above-average start to January and are cautiously optimistic for 2024.

The ArcelorMittal Nippon Steel India (AM/NS India) joint venture (JV) aims to have 24 Mt/y of crude steel capacity by 2029, making the Hazira works in Gujarat the planet’s largest single-site integrated steel complex, says ArcelorMittal chairman Lakshmi Mittal. A first-phase expansion to 15 Mt/y of crude steel capacity is on schedule to be finished […]

The iron ore price has edged up further from the already high level seen last week. The market is generally slow, meaning that the moderate price increase came from the bullish outlook from the market following last week’s stimulus announcements from China and expectations of restocking picking up. Supply fell w/w from both Australia and Brazil as […]

Cleveland-Cliffs is now targeting base prices of $1,150 per ton for hot-rolled coil (HRC), according to a press release on Wednesday morning, Jan. 3.

Sheet prices were mixed in SMU’s first assessment of the market in the New Year.

Nucor Corp. announced in a letter to customers on Friday, Dec. 29, that its plate mill group would hold prices unchanged for as-rolled discrete plate, normalized, and quenched-and-tempered plate with the opening of its plate mill order book for February.

US hot-rolled coil (HRC) prices might have plateaued. But while prices for offshore product have increased in some regions, imports remain significantly cheaper that domestic material. All told, US prices are roughly 26% more expensive than imports, a premium that is down only slightly from last week.

All of the products SMU surveys notched an increase in the percentage of buyers saying mills were willing to negotiate spot pricing, with the exception of cold rolled, according to our most recent survey data.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including purchasing practices, steel sheet prices, scrap, and the future market. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words.

The European Union (EU) announced on Tuesday the extension of suspended tariffs on US aluminum and steel products. The extension of the negotiations will be active until March 31, 2025.

US steel production increased for the week ended Dec. 16, according to the American Iron and Steel Institute’s (AISI’s) report on Monday, Dec. 18.

The LME aluminum 3-month price is moving higher on the morning of Dec. 15 and was last seen trading at $2,258 /metric ton. This means the price is up 7% already since the new low for 2023 was reached on Wednesday at $2,109 /metric ton. The US Dollar reached its lowest level since early August […]