Hot-rolled (HR) coil prices in the US edged lower again this week, while offshore price were little changed. Stateside prices continue to trail imports from Europe, supported by Section 232 steel tariffs.
The cautious neutrality and summertime blues we discussed just a few weeks ago have evolved into something decidedly more bearish.
The Brazilian pig iron community is playing defense ahead of the Aug. 1 deadline for a 50% US tariff on imports from the South American country. The moves indicate the Brazilian producers do expect the tariff to go into effect.
Cold-rolled (CR) coil prices continued to decline in the US this week, while prices in offshore markets ticked higher.
After a period of backwardation driven by headlines and CRU index anchoring, the CME HRC curve structure has undergone a notable shift.
Hot-rolled (HR) coil prices in the US edged lower again this week but have remained in a tight band for roughly four months. Stateside prices continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.
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.
Nucor is lowering its list price for spot hot-rolled coil for the first time since May 27.
Section 232 tariffs have doubled to 50%. Reciprocal tariffs rates remain uncertain. But while prices have softened on even softer sentiment, tariffs have firmed the floor.
Cold-rolled (CR) coil prices continued to tick lower in the US this week, with a similar trend seen in offshore markets.
Chinese steel export prices are expected to rise and support prices across most of Asia in the coming month. In Europe, buyers are likely to frontload import orders ahead of CBAM imposition, while new trade agreements are likely to emerge in the US. Steel prices in the APAC are expected to rise, except in India […]
Not much to report on from the sleepy HRC futures market in the thick of the summer doldrums with trading volume nearly grinding to a halt.
Stateside prices continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.
US sheet and plate prices were flat or lower as reduced import volumes were offset by so-so demand.
Nucor is holding its list price for spot hot-rolled coil at $910 per short ton (st), unchanged since June 30.
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 price spread between prime scrap and hot-rolled coil widened marginally again in July.
Coming out of the holiday market and long weekend, it seems the HRC futures market has caught some post-vacation blues.
Hot-rolled (HR) coil prices in the US ticked down this week but have fluctuated little over the past month. Stateside tags continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.
The announcement of 50% tariffs on Brazilian imports, including pig iron, could have a dramatic effect on steelmaking raw materials.
President Donald Trump on Wednesday said he would increase the “reciprocal” tariff on imports from Brazil to 50% effective Aug. 1. That could have big implications for pig iron.
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.
The US ferrous scrap market settled sideways in July.
We can interpret that managed money still has expectations of price strength while physical participants are running closer to a balance on a net basis.
David Schollaert presents this week's analysis of hot-rolled coil prices, foreign vs. domestic.
Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.
Will more DRI investment come to the US?
Nucor aims to keep plate prices flat again with the opening of its August order book.
Nucor has raised its weekly spot price on hot-rolled coil by $10 per short ton after holding it steady last week.