Category: Sheet

Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on. 

As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.

Sheet and plate lead times held steady yet again this week, according to steel buyers responding to our latest market survey, a trend in place since May.

Sluggish economic activity across the US was largely attributed to uncertainty caused by tariff policies and growing cost pressures, according to the US Federal Reserve’s (The Fed) latest Beige Book report.   The Fed’s latest economic report, posted on Sept. 3, consists of economic findings from the six weeks preceding Aug. 25 throughout 12 districts. Economic […]

Steel prices remained largely unchanged this week, staying at or near lows last seen in February. All five sheet and plate products tracked by SMU moved by no more than $5 per short ton (st) from the previous week.

The bipartisan Congressional Steel Caucus is pushing for US officials to maintain a robust Section 232 program as they negotiate trade deals with America's trading partners.

Across the US and throughout the steel supply chain, market participants are reporting another painfully quiet week for hot-rolled (HR) coil sales.  

Domestic sheet prices in the US remained under pressure, limiting interest in imports, while domestic prices for longs products continued to rise.

Carbon steel plate market participants suspect that this week’s modestly softer prices are the result of quietly negotiated prices between plate purchasers and mills.

Steel buyers report steady lead times for sheet and plate products, a soft-sideways trend we've seen since May.

Scraping lower-quartile $800s on nearby futures is bringing limited trading ideas for CME hot-rolled coil (HRC) at present. 

Nucor has lowered its hot-rolled (HR) spot price by another $10 per short ton (st) this week.

With so much happening in the news cycle, we want to make it easier for you to keep track of it all. Here are highlights of what’s happened this week and a few things to keep an eye on.

Market participants said they have high hopes that the stable hot-rolled spot market will improve as the year rolls on.  

Yesterday’s tragedy and loss of life at U.S. Steel’s Clairton Works is a stark reminder of how important safety in the workplace really is.

Sources in the carbon and alloy steel plate market said they are less discouraged by market uncertainty resulting from tariffs or foreign relations, but are instead, eager to see disruption to the flat pricing environment.

Mill production times for sheet products are holding just above multi-year lows, while plate lead times remain elevated.

Sheet and plate prices were either flat or modestly lower this week on softer demand and increasing domestic capacity.

US steel shipments increased month over month and year over year in June, according to the latest figures from the American Iron and Steel Institute (AISI).

Sheet prices slipped again this week amid discounting from certain mills and ongoing concerns about demand.

Steel prices continued to decline this week across all of the sheet and plate products tracked by SMU, pressured by short lead times and the typical summer slowdown.

CRU Principal Analyst Shankhadeep Mukherjee expects a restocking cycle for steel sheet products in most parts of the world due to either low inventories or seasonally stronger demand.

The difference: The spat with Turkey was a big deal for steel. This time, the 50% reciprocal tariff for Brazil – if it goes into effect as threatened on Aug.1 – hits everything from coffee and to pig iron. It seems almost custom-built to inflict as much pain as possible on Brazil.

Mill lead times for sheet products were steady to slightly longer this week compared to our late June market check, while plate lead times contracted, according to steel buyers responding to this week’s market survey.

Sheet and plate prices slipped this week on so-so demand, sideways scrap prices, and chatter that certain mills were making unsolicited calls looking for tons.

CRU Senior Steel Analyst Alexandra Anderson discusses current market and pricing dynamics for long steel products in the US.

Following the onset of the war in Ukraine in March 2022, concerns about import availability and expectations of rising demand from President Biden’s Infrastructure Bill pushed US rebar prices to record highs. In response, a flurry of new mills and capacity expansions were announced to meet the rise in demand from growth in the construction […]

Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.

Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.

Stainless prices in the US market will rise, following price increases by major US producers. Our base case scenario incorporates higher US prices in the near term, despite the initial negative reaction by the market.       US stainless prices will go up in 2025 H2 and will stay elevated in 2026 as tariffs on stainless […]