Category: Sheet

Sheet and plate prices were mostly flat this week – largely in response to the mill price blitz from last week – pausing the downtrend they’d been on for the better part of 2024.

A weak start for sheet demand this year has continued to weigh on global prices. European demand outside of the renewable energy sector was weak enough that market participants said mills are likely to cut output further after several furnace restarts earlier in the year. In China, demand has also failed to pick up after recent holidays, and even government announcements of more stimulus measures during the country’s “Two Sessions” meetings failed to boost market confidence.

The premium plate prices have held over hot-rolled coil (HRC) are nowhere near recent highs seen in 2022 but remain higher compared to historical levels.

The US plate market has been largely quiet over the past week since Nucor’s $90-per-ton price cut at the close of February.

US steel mill shipments increased in January vs. December but fell from a year earlier,

Sheet and plate prices this week continued the downward trend they’ve been on for most of 2024. Some market sources predicted that a wave of spring maintenance outages would help to stabilize lead times and prices in the weeks ahead – especially should service center inventories, high at the beginning of the year, come down meaningfully.

The premium US hot-rolled coil (HRC) held over offshore product for roughly five months has nearly vanished. Domestic hot band prices continue to run downhill at a high rate, erasing a $300/st gap they had over imported HRC just two months ago.

Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its April order book.

Falling US sheet prices have reduced the attractiveness of hot-rolled (HR) coil imports as domestic mills price competitively to secure limited business. However, tightness in the CR coil market has extended delivery to June or July in some cases, and buyers may consider to import given competitive prices and arrival times.

This week, the World Trade Organization (WTO) ministerial conference convenes in Abu Dhabi, UAE. There are many issues on the WTO’s plate. The question is whether any resolution of these matters is likely or even possible. One of the most important issues is the future of the dispute settlement system, which has been rendered impotent […]

North American auto assemblies recovered in January after a usual seasonal slowdown at year-end, according to LMC Automotive data. The result was driven by improved production across the region vs. December’s output.

Nucor Corp. announced plans to build a new rebar micro mill in the Pacific Northwest.

The percentage of sheet buyers finding mills willing to negotiate spot pricing rose or remained relatively flat on the products SMU surveys, while plate slumped, according to our most recent survey data.

The pace of sheet price declines accelerated this week as steel buyers said that domestic mills were competing against each other while also coping with higher-than-expected import volumes. “They are getting rid of the fluff. When you can pit 2-3 mills against each other, the fat margins get cut,” one industry source said.

Prices for galvanized products have been falling for more than a month, and market participants expect this trend to continue in the near term.

Domestic production of raw steel increased again last week, according to the most recent data from the American Iron and Steel Institute (AISI). Output moved higher for the second straight week after declining for more than a month to start the year.

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.