SMU’s average price for domestic HR was $1,145 per short ton (st) this week, $15/st higher week over week (w/w). In offshore markets last week, prices moved down, largely maintaining a trend seen since late April.
Galvanized sheet buyers and distributors report that strong demand and constrained supply persist, exerting upward pressure on prices.
US sheet prices continue to move higher on extremely limited spot availability, solid demand, and extended lead times.
US raw steel production has eased over the past month following the multi-year high seen in May, according to recent American Iron and Steel Institute (AISI) data
Nucor announced on Monday, June 22, that its consumer spot price (CSP) for hot-rolled coil will be $1,130 per short ton for the week, up $5/st from last week.
Cold-rolled (CR) coil prices ticked up in the US this week, as offshore prices mostly trended lower.
South Korea has overtaken Canada as the top foreign supplier of steel to the US market.
Hot-rolled coil market participants report little disruption to their contact volumes, finding timely spot HR proved less straightforward, some sources told SMU.
The US HRC futures curve has continued to move higher, particularly in the deferred months, suggesting the market is pricing a slower return to balance.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from prices, demand, and inventories to tariffs, imports, and evolving market conditions.
SMU’s average price for domestic HR was $1,130 per short ton (st) this week, $15/st higher week over week (w/w). In offshore markets last week, prices were largely down, following a trend seen since late April.
SMU’s Steel Demand Index ticked back up from late May, remaining in elevated territory, according to mid-June indicators.
The spread between domestic hot-rolled coil and prime scrap prices continued to widen in June, a trend that began in September.
SMU’s Mill Order Index recovered in May, reclaiming some momentum lost the month prior.
SMU’s sheet price indices increased further this week, while plate held steady, all at multi-year highs.
Apparent steel supply eased from March to April on reduced mill shipments per recent Department of Commerce and American Iron and Steel Institute (AISI) data.
US steel exports improved 2% from March to April to the highest monthly volume seen in 13 months. Although up, trade remains historically low
SMU and AMU are pleased to announce that Wells Fargo Managing Director Timna Tanners will be joining us for a Community Chat webinar on Wednesday, June 24, at 11 am ET.
The volume of raw steel produced by US mills slipped to a seven-week low last week but remains historically high, according to American Iron and Steel Institute (AISI) figures released on Monday.
US service centers’ flat-rolled steel supply declined for a fourth straight month in May, with shipping days of supply slipping to 44.7 on an adjusted basis, according to SMU data.
Nucor announced on Monday, June 15, that its consumer spot price (CSP) for hot-rolled coil will be $1,125 per short ton (st) for the week, up $10/st from last week.
Summer doldrums? Not this year! SMU’s latest steel market survey indicates that an increasing number of steel buyers think prices will continue to rise along with the mercury.
Friedman Industries posted record sales, higher volumes, and sharply improved earnings in fiscal 2026. This was driven by stronger demand, higher average selling prices, and continued contributions from its Century Metals acquisition.
After reaching historic lows late last year, import volumes have increased each month of 2026, according to recently released US Commerce Department data.
SMU’s Steel Buyers’ Sentiment Indices remained strongly optimistic this week and continue to indicate that buyers are confident in their companies’ prospects.
The World Cup only comes around every four years. So let's take a walk down memory lane to see where the steel market stood four years ago.
A major trade case finalized late last year, along with higher Section 232 tariffs, account for the reduced imports.
Steel mill lead times extended this week on both sheet and plate products, now at multi-year highs.
Some domestic spot market buyers say they're seeking imported hot-rolled (HR) coils.
This week we saw continued low negotiation rates across all products, with cold rolled and plate the least negotiable and galvanized the most.