Category: Steel Products Prices North America

Sheet prices have fallen this week, after a small pause last week when prices saw mixed results. Tags have now been largely trending lower since July.

Three prominent steel analysts proposed their outlooks for next year in the Steel Price Forecast: Boom or Bust in 2024? panel at Steel Summit 2023 in Atlanta.

Sheet prices were mixed this week after trending lower for most of July and earlier in August. SMU’s average hold-rolled coil (HRC) price slipped to $750 per ton.

Sheet prices slipped again, continuing a trend of lower week-over-week tags that began in mid-July.

Sheet prices slipped for the third consecutive week on continued discounts from certain mills for larger buyers.

US raw steel production inched up for a third consecutive week, according to data released by the American Iron and Steel Institute (AISI) on Monday, July 31. Steel production in the US increased to 1,749,000 net tons for the week ended July 29, up 0.5% from 1,741,000 net tons the previous week. US production is 1.6% higher […]

The LME aluminum three-month price is moving higher again, closing the week on the morning of July 28 at $2,215 per tonne. The previous day, the price dropped sharply at the close and briefly moved below $2,200/t. The next day the price was seen increasing again, suggesting support at $2,200/t has once again been regained.  […]

Mexican steelmaker Ternium could benefit if the US places new steel tariffs on Mexico, according to New York-based investment firm Morgan Stanley. “First, if the US were to levy tariffs on steel imports from Mexico, we believe the government of Mexico would likely respond with a similar measure. Second, due to its product mix, Ternium would likely benefit […]

A preliminary count of imports during the month of June shows little changes from SMU’s previously reported import license analysis. Total imports were 2,792,674 net tons in June’s preliminary count by the US Department of Commerce. As SMU reported earlier this month, that’s the highest level imports have been over the past year. Flat-rolled imports […]

Hot-rolled coil (HRC) prices fell for a second consecutive week as mills appear to have given up holding the line on $900 per ton ($45 per cwt) and amid discounting into the high $700s per ton.

Hot-rolled coil (HRC) prices fell for a second consecutive week as mills appear to have given up holding the line on $900 per ton ($45 per cwt) and amid discounting into the high $700s per ton. SMU’s average HRC price now stands at $830 per ton, down $40 per ton from a week ago and marking […]

US raw steel production rose a second consecutive week, according to data released by the American Iron and Steel Institute (AISI) on Monday, July 24. Steel production in the US rose to 1,741,000 net tons for the week ended July 22, up 1.5% from 1,716,000 the previous week. Domestic production is also up 1.2% year-over-year from 1,721,000 net […]

Over the last month, the iron ore price has shown more weakness as fewer participants in the market maintain a positive outlook based on more stimulus measures in China. Simultaneously, on the supply side, Australia followed seasonal trends with a marginal y/y increase. Recovered Brazilian volumes have also begun to weigh on the market. Supply […]

With the latest announcement between India and the US easing Section 232 duties, it is clear the duties, initiated in 2018, are under review. Now that five years have passed, a good amount of data has been gathered to analyze the effects of the policy. Judging from each scheduled review of the economic effects of […]

Atlas Tube, part of Zekelman Industries, has partnered with Mobility Worldwide for over 10 years to provide mobility carts to those in need globally, and said it will continue to dedicate resources where needed.  “When Zekelman Industries acquired the assets of EXLTUBE based in North Kansas City, Mo., in November 2022, we were well aware […]

Sheet prices slipped by $20-25 per ton as hot-rolled coil (HRC) failed to break through the $900 per ton threshold some market participants had predicted it would. SMU’s average hot-rolled coil (HRC) price stands at $870 per ton ($43.50 per cwt), down $20 per ton from a week ago. Numbers at or around that figure […]

Raw steel production in the US inched up last week after dropping for two consecutive weeks, according to data released on Monday, July 17, by the American Iron and Steel Institute (AISI). Steel production in the US rose to 1,716,000 net tons for the week ended July 15, up 0.3% from 1,711,000 the previous week. Domestic production […]

With demand trending lower throughout out the first half of 2023, the aluminum industry is searching for something to be optimistic about. Recent economic news is leaning positive, with inflation slowing across multiple measures including the Producer Price Index (PPI) and manufacturing final goods’ pricing. Personal consumption expenditure has slowed from its peak but sustained […]

The spread between hot-rolled coil (HRC) and prime scrap prices continued to narrow in July, according to Steel Market Update data. SMU’s average HRC price rose this week, while busheling scrap tags fell. Our HRC average price rose $10 per net ton week over week to $890 per ton ($44.50 per cwt) as of Tuesday, July 11.  Busheling tags, […]

A South Korean pipe and tube manufacturer is planning to build a new oil country tubular goods (OCTG) mill just north of Houston. Husteel, part of South Korea’s Shinan Group, is set to build a $122-million greenfield OCTG facility in Splendora, Texas, according to industrial equipment manufacturer Fives Group. Paris-based Fives said it has already […]

Sheet prices inched up this week on less discounting from major mills and on expectations that activity could improve in the coming weeks as OEMs return to the market following widespread summer shutdowns in early July. SMU’s hot-rolled coil price stands at $890 per ton ($44.50 per cwt), up $10 per ton from last week […]

Raw steel production in the US has dropped for the second week in a row, according to data released on Monday, July 10, by the American Iron and Steel Institute (AISI). Steel production in the US stood at 1,711,000 net tons for the week ended July 8, down 1.7% from 1,740,000 the previous week. Domestic production is […]

US steel exports spiked in May to the highest monthly level in nearly five years. Exports reached 914,018 net tons in May (Fig. 1), according to the latest figures from the US Department of Commerce. That’s 19% higher month-on-month and 15% higher year-on-year. Recall that exports in March neared a five-year high; May’s total was […]

US steel imports climbed in June to the highest monthly level over the past 12 months, based on June import license data compiled by the US Department of Commerce. Import license applications reached 2,803,597 net tons in June, according to Commerce’s license count as of July 5. This was a 20.7% spike from the month […]

The LME aluminum 3-month price is moving down again after the 4th of July holiday and was last trading near $2,130 per metric ton (as of the writing of this article on July 7). The fact that the price resumed sharp declines and is not challenging the next resistance at $2,200 per metric ton shows […]

Raw steel production by US mills dropped last week after two consecutive weekly increases, according to data released by the American Iron and Steel Institute (AISI) on Wednesday, July 5. Domestic production stood at 1,740,000 net tons during the week ended July 1, down 1% from 1,758,000 tons the previous week. Production is up 0.3% from the same […]

Sheet prices were little changed this week amid typically slower activity around the Fourth of July. Market participants said that another round of sheet price hikes might come later this week or early next to shore up an initial round of price increases announced in mid-June. In the meantime, some of the heavy discounting that […]

The US rig count fell yet again for the week ended June 30. This marks the ninth consecutive week rig counts have declined in the US. Canada also saw a decline after an increase the week prior, according to the latest data from oilfield services company Baker Hughes. The total US rig count stood at 674 active […]

Friedman Industries has reported the most profitable fiscal year in its history as the steel processor and manufacturer posted strong fiscal fourth-quarter results. The Longview, Texas-based company swung to a profit of $6.3 million in its fiscal Q4 2023 ended March 31 vs. a net loss of $7.5 million a year earlier on net sales that […]

US-EU talks on a global arrangement on carbon emissions are back in the news, and the latest is that Europe might have sunk a potential deal with the States, according to reporting from The Financial Times. If no deal is reached, Section 232 tariffs of 25% on steel from the EU could be reinstated. That […]