Category: Sheet

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. […]

Steel sheet prices in many regions of the world were steady week over week in the week ended April 17.

After receiving a hefty federal tax credit, ArcelorMittal plans to produce non-grain-oriented electrical steel (NOES) in Alabama. ArcelorMittal Calvert LLC received a tax credit of $280.5 million for the project, according to a Department of Energy (DOE) announcement on Friday. The Qualifying Advanced Energy Project Credit (48C) tax credit is meant to accelerate clean energy […]

Sheet prices varied this week. While hot-rolled (HR) coil pricing was largely flat, cold-rolled (CR) coil and tandem product pricing eased slightly reflecting the momentum shift seen last week for HR coil. SMU’s average HR coil price was flat from last week at $835 per short ton (st) – potentially emphasizing the tension between competing […]

The market appears to be taking a pause after the heavy buying that occurred in March.

Sheet prices saw a slight momentum shift this week after consecutive gains in the prior two weeks. Plate edged lower on greater competition off easing demand, according to our latest check of the steel market.

Steel shipments from US mills were lower in February, both from January and from last year.

Sheet prices moved higher this week for the second consecutive week, while plate prices ticked lower, according to our latest canvas of the steel market.

Electra has commissioned a clean ironmaking pilot plant in Boulder, Colo.

Steel buyers report that mills are less willing to talk price on new sheet orders than they were in weeks past, according to our most recent survey data. In contrast, mills’ willingness to negotiate on plate products remains relatively high, now at the second-highest rate of the year.

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 […]

Cleveland-Cliffs aims to increase sheet prices by $60 per short ton (st) and is seeking a new target base for hot-rolled coil (HRC) of $900/st. That's according to a press release circulated on Wednesday morning, March 27.

Sheet prices reversed course and moved higher this week, while plate priced remained flat, according to our latest canvas of the market.

APAC steel prices are likely to bottom out in the near term as seasonally higher demand coupled with production cuts may support prices. In the EU, prices are likely to remain under pressure, while fresh price increases are expected in the US. APAC steel prices are likely to bottom out in the near term In […]

A temporary surplus of rebar on the West Coast is forcing CMC to alter the planned ramp-up of its Arizona 2 micro-mill, the company's leader said on Thursday.

Sheet and plate prices mostly moved lower this week after little change was noted the week prior. Despite edging down, sentiment is mixed, and many suggest a bottom may be near.

The spot rate trend in the flatbeds has seen a positive upturn. There are potential rate accelerators and decelerators, however, likely to influence spot and contract flatbed rates. The flatbed market for spot rates is showing signs of improvement as we move through the new year. February increased slightly from January, marking the third consecutive […]

The CRUspi fell by 8.3% month over month (m/m) in March to 206.6 as weaker-than-expected demand weighed on markets around the world. Price falls were notable across all regions, with elevated inventory levels pushing prices in the US and Europe, and disappointing stimulus measures from the Chinese government weighing on those in Asia.

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.