Plate from South Korean steelmaker Hyundai is being offered for $980-1,020 per ton ($49-51/cwt) for third-quarter delivery to U.S. ports, according to market participants. The lower end of that range is representative of the delivered duty paid (DDP) price to Gulf Coast ports. The higher end of the range is for delivery to West Coast […]
As expected, ferrous scrap prices for March settled up $50 per ton for obsolete grades and up $70 per ton for prime grades in most parts of the U.S., reported Steel Market Update sources. April scrap is likely to remain relatively unchanged. “Looking forward, I don’t see downside for prime grades in April. Depending on […]
Obsolete scrap prices are widely expected to decline in April, while prime scrap prices move sideways, predict Steel Market Update sources. Ferrous scrap prices saw a big jump in March, adding to the upward momentum on finished steel prices, but the April effect is shaping up to be more moderate. “Growing obsolete scrap availability caused […]
Ferrous scrap prices have traded flat to down in April following a big jump in March. Steel Market Update sources report the price for obsolete grades down $20/GT, while prime grades traded sideways. The price for shredded scrap is about $430/GT delivered to the mills in the Midwest and South. Prime grades are around $130-140 […]
Availability from domestic sheet mills is getting worse again after briefly improving last month, according to some market participants. The trend follows winter storms taking out production at electric-arc furnace (EAF) producers in the southern U.S. in February and ahead of a raft of upcoming maintenance outages in the second and third quarter, sources said. […]
January U.S. steel imports surpassed 2.42 million tons, according to final Census data released last week, up 62% from December due to the quarterly surge in semifinished product imports. Focusing on finished steel imports only, January figures are down from December by 7%. February import licenses are currently at 2.02 million tons through March 5 […]
Foreign hot rolled steel imports continue to tempt U.S. buyers as domestic prices soar, offering potential discounts of 10% or more, according to Steel Market Update’s latest foreign versus domestic hot rolled steel price comparison. Foreign HRC prices are theoretically $154-$323 per ton cheaper than domestic steel prices at this time. Recall that domestic mills […]
With negotiations still ongoing this week, it appears ferrous scrap prices will see a big jump in March, as was widely expected. Steel Market Update sources reported that scrap pricing announced in Detroit today was up $70 per ton on prime grades and up $50 per ton on obsoletes. Other regions of the country are […]
Flat-rolled steel imports to the United States rebounded in February, weighing in at their highest monthly total in more than a year. Hot-rolled imports, meanwhile, hit their highest point in more than two years, according to Commerce Department figures. And the trend is only just getting started, according to some market participants. The U.S. was […]
Steel prices took another bite out of the record books in March. The advent of March shows flat rolled and plate steel prices are still roaring upwards, with hot rolled hitting another record high of $1,240 per net ton, according to Steel Market Update’s check of the market this week. Prices generally moved up in […]
SSAB Americas raised some eyebrows in the steel market when it officially announced a “scrap collar” along with an $80-per-ton ($4/cwt) plate price increase earlier this week. The move, while not unheard of in the steel market, is not necessarily typical for standard spot market plate orders, some buyer sources said. An SSAB Americas spokeswoman […]
Preston Pipe Partner Rick Preckel will be the speaker at Steel Market Update’s next Community Chat webinar. The webinar will be held tomorrow, Wednesday, March 3, at 11 a.m. ET and is free to those looking to learn more about the interplay between the steel and energy markets. Joining Rick will be SMU Senior Editor […]
SSAB has increased plate prices by $80 per ton ($4/cwt) for U.S. customers and C$100 per ton for customers in Canada. The price hike is effective immediately and applies to all new non-contract orders of as-rolled mill plate, cut-to-length plate more than 72 inches wide, hot rolled coils more than 72 inches wide, normalized plate […]
Weekly raw steel production by U.S. mills totaled 1,749,000 tons in the week ending Feb. 27, up 0.2% from the week prior when production was 1,745,000 tons. Although marginal, raw steel production was up for a third consecutive week. The mill utilization rate was 77.2%, up from 77.0% one week ago, yet down 7.0% from the […]
U.S. raw steel production saw a small increase for the fourth consecutive week as domestic mills strive to meet robust demand. Weekly steel production by U.S. mills totaled 1,755,000 tons in the week ending March 6, up 0.3% from the week prior when production was 1,749,000 tons. The mill utilization rate last week averaged 77.4%, […]
U.S hot-rolled coil import volumes are at their highest level in at least two years–and import data for February is not yet complete. The U.S. is poised to import at least 162,357.3 metric tonnes of hot-rolled coil in February, according to import license data last updated by the Commerce Department on Wednesday, Feb. 24. That […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]
SMU contributor Bryan Tice is a partner at Metal Edge Partners, a firm engaged in risk management and strategic advisory. In this role, he and the firm design and execute risk management strategies for clients along with providing process and analytical support. Prior to Metal Edge Partners, Bryan held a variety of commercial leadership roles […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]
SMU contributor Bryan Tice is a partner at Metal Edge Partners, a firm engaged in risk management and strategic advisory. In this role, he and the firm design and execute risk management strategies for clients along with providing process and analytical support. Prior to Metal Edge Partners, Bryan held a variety of commercial leadership roles […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]
Evraz North America has followed Nucor in increasing plate prices by at least $70 per ton ($3.50/cwt). The steelmaker said that the increase–$90 CAD for customers north of the border–was effective immediately and that it applied equally to all carbon, high-strength low-alloy, hot-rolled coil, normalized, and quenched-and-tempered products, according to letters to customers on Feb. […]
U.S. steel imports show mixed signs, according to January preliminary Census data. January steel imports are currently reported at 2.42 million net tons, up 62% from one month prior due to the quarterly surge in semi-finished product imports. Focusing on finished steel imports only, January figures are down from December by nearly 90,000 tons or […]
U.S. crude steel production fell sharply in January 2021 versus the same month last year even as production rose in most other major steelmaking nations, according to figures from the World Steel Association. And with domestic supplies scarce, some buyer sources have told Steel Market Update that they are taking a closer look at the […]
Nucor has increased plate prices by $70 per ton ($3.50/cwt) effective immediately. The steelmaker’s new ex-works base price for cut-to-length Grade A36 plate is now $1,090 per ton, up from $1,020 per ton a month ago. The new base price for quenched-and-tempered A514 Grade B is $1,340 per ton, up from $1,270 per ton in […]
Among steelmaking raw materials, the prices of iron ore, pig iron and steel scrap moderated through February following large gains seen in previous months. Prices declined as much as 16% month-over-month for those three products, but remain 34-57% higher compared to three months prior and as much as 87% higher than levels one year ago. […]
Weekly raw steel production by U.S. mills totaled 1,745,000 tons in the week ending Feb. 20, up just 0.1% from the week prior when production was 1,743,000 net tons. Despite the marginal increase, raw steel production was up for the second consecutive week. The mill utilization rate was 77.0%, up from 76.9% one week ago, […]
Tube mills in the U.S. and Canada have followed Nucor in raising prices on hollow structural sections (HSS) and other non-energy tubulars by about $50 per ton ($2.50/cwt). The increases are necessary in response to higher coil costs and strong customer demand, according to some producers. Atlas Tube is raising prices on all new orders […]