Domestic raw steel production totaled 1,762,000 net tons for the week ending Aug. 5, down 0.4 percent from the previous week, but up 6.3 percent from the same week last year, reports the American Iron and Steel Institute in Washington. Mill capability utilization for the Aug. 5 week averaged 75.6 percent, a significant improvement from the […]
It is now official. According to the U.S. Department of Commerce, June 2017 foreign steel imports totaled 3,923,126 net tons and are at the highest levels seen since January 2015, prior to the antidumping (AD) and countervailing duties (CVD) trade suits being filed. Approximately one-quarter of the imports were semi-finished steels (mostly slabs) with the […]
Flat rolled and plate steel prices were essentially flat this past week as both Steel Market Update and Platts saw hot rolled, cold rolled, galvanized and Galvalume steel prices remaining the same as the previous week. With Section 232 being put on the back burner, the flood of foreign steel imports (prompted by the original […]
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel This week HR futures markets experienced continued price consolidation along the curve as HR futures prices continued to retrace lower from […]
Total imports of rolled steel increased by 16.9 percent, and sheet products by 18.4 percent, in the three months through July, compared with the prior three months, according to final license data for July released by the U.S. Commerce Department on Aug. 1. The three-month moving average (3MMA) of the total volume of rolled product […]
Steel Market Update has seen a bit of a yo-yo effect to flat rolled and plate steel prices over the past few weeks. Since the word got out that the Section 232 decision would not be announced any time soon, the market has taken a step back to evaluate where prices will go from here. […]
Domestic raw steel production totaled 1,769,000 net tons in the week ending July 29, down 0.2 percent from the previous week, but up 6.1 percent from the same period last year, reports the American Iron and Steel Institute in Washington. The mill capability utilization rate for the July 29 week was 75.9 percent, down from 76.1 […]
Steel Market Update (SMU) asked ferrous scrap guru Mike Marley of World Steel Dynamics how he is seeing ferrous scrap price negotiations as we enter the month of August. He reported what we have heard from our scrap sources: the market should expect higher scrap pricing in the coming month. Here’s what Marley told us […]
Flat rolled steel price averages rose on all three indexes followed by Steel Market Update (SMU) this past week. Hot rolled has become the “hottest” product recently, according to steel buyers contacted by SMU during the week. Benchmark HRC rose to $625 per ton on Platts, as well as our own index. SteelBenchmarker, which only […]
Foreign steel imports continue to trend well over the 3.0 million net tons mark as steel buyers placed heavy tonnage once the Section 232 investigation was announced in March (March orders = June/July delivery). The U.S. Department of Commerce (DOC) released preliminary census for June and license data for July earlier this evening. According to […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel import prices (delivered to USA ports) and domestic (USA) hot rolled coil prices (FOB Domestic mills). We want our readers to be aware that this is only a “theoretical” calculation as freight costs, trader margin and […]
The following article on the hot rolled coil (HRC) futures markets was written by David Feldstein. As the Flack Global Metals director of risk management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
The following is a press release on steel exports from the American Institute for International Steel (AIIS) on July 27 2017: Falls Church, VA. July 27, 2017. Steel exports swelled 17.3 percent from April to May – and were up 25.2 percent from a year earlier – to surpass 1 million net tons. More than […]
Steel Market Update (SMU) has been in contact with our scrap sources who are advising us ferrous scrap prices will move higher as we get into August negotiations with the steel mills. We have been hearing scrap will move by a minimum of $15 per gross to $25 per gross ton. “Ferrous grades will certainly […]
Cliffs Natural Resources is psyched to begin construction on its HBI facility. The company is currently in discussions with potential financial partners that align with Cliffs’ strategy for growth. CEO Lorenzo Goncalves says a financial partner for a $700 million private investment is not necessary to move the project forward, but would be nice to […]
Steel buyers reported the domestic steel mills as being somewhat more receptive to moving prices early this week compared to where they were at the end of this past week. The result being we did see prices rising on all sheet products. One mill told us earlier today about their coated products order book, “Hanging […]
U.S. raw steel production totaled 1,773,000 net tons in the week ending July 22, up 0.6 percent from the previous week and an increase of 6.4 percent from the same period last year. The mill capability utilization rate was 76.1 percent, up from 75.6 percent in the prior week and 71.3 percent a year ago, […]
Steel Market Update (SMU) sources in China have provided pricing guidance on a number of steel products coming out of China. We are seeing steel prices rising in China due to higher commodity prices (example: iron ore this morning was $69.70 per dry metric ton for 62% Fe, according to The Steel Index). The following […]
Global steel production in the three months through June set another record and once again China was the driver, reports the World Steel Association, with the following analysis by SMU. World steel production in the month of June totaled 141,046,000 metric tons, down from 143,204,000 tons in May. Capacity utilization was 73.0 percent, up from […]
Last week, Steel Market Update (SMU) completed our mid-July flat rolled market trends analysis. We invited 650 steel executives to participate. Of those responding, 48 percent were service centers, 41 percent were manufacturing companies, and 8 percent were trading companies, with steel mills and toll processors accounting for 4 percent each. One of the questions […]
The week ending July 21 was another mixed week for flat rolled steel and plate prices. Steel Market Update (SMU) steel price indices saw two products as being higher, two lower and one unchanged. Platts had two higher and one lower. SteelBenchmarker did not report prices this week as they only report twice per month. […]
On Wednesday, Nucor became the first flat rolled mill east of the Rockies to increase spot prices on hot rolled, HRP&O, cold rolled and galvanized steels. Nucor Sheet Mill Group sent out a letter to their customers advising that effective immediately they were taking pricing up by a minimum of $25 per ton ($1.25/cwt). On […]
The U.S. Department of Commerce (DOC) released new foreign steel import license data on July 18. The trend for July is for steel imports to remain quite high, in the mid 3-million-net-ton range. We expect imports to be lower than June’s 3.9 million net tons, but above the 12-month and 3-month moving averages. Finished steel […]
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel HR futures prices have moved $12-$27/ST higher on very light trading volumes this past week. In spite of the higher HR […]
As the steel industry waits for clarity on Section 232 we got another week where flat rolled steel prices came in with mixed results. We saw some of the items indexed have their averages rise while others fell. In reality it doesn’t appear that there is a lot pushing prices in one direction or another […]
U.S. raw steel production hit 1,763,000 net tons in the week ending July 15, up 1.7 percent from the previous week and up 5.8 percent from the same week last year. Mill capacity utilization for the July 15 week averaged 75.6 percent, up from 74.3 percent the prior week and 71.3 percent the prior year. […]
Flat rolled prices were mixed this past week. Early last week we were collecting information from steel buyers who were advising Steel Market Update that steel mill lead times were short and there were still holes in the order books at many of the domestic mills. As the week progressed we found, especially after the […]
The following article on the hot rolled coil (HRC) futures markets was written by David Feldstein. As the Flack Global Metals director of risk management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel import prices (delivered to USA ports) and domestic (USA) hot rolled coil prices (FOB Domestic mills). We want our readers to be aware that this is only a “theoretical” calculation as freight costs, trader margin and […]
We believe that misinformation (or lack of) about regional import volumes is often used to influence purchase decisions. Our intent with this analysis of tonnage by district of entry is to describe in detail what is going on in a company’s immediate neighborhood and thus provide a negotiating advantage for our premium subscribers. We are […]