Steel Market Update has heard reports of buyers paying well over $1,000 a ton to secure much-needed hot roll, but the average from respondents to SMU’s poll this week puts the HR price at around $985 per ton (among those who have managed to find available steel). With demand persisting despite year-end seasonality and mill […]
On Monday, Dec. 21, Nucor notified customers of an upward revision to their galvanized steel coating extras, effective Feb. 6, 2021. Nucor is the third mill to revise their galvanized coating extras recently, following NLMK and CSI two weeks ago. SMU has done an analysis on the old and new extras, provided below. Nucor extras […]
U.S and Canadian active rotary drill rig counts were mixed this week, according to updated data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active U.S. rigs rose by 8 this week […]
Steel Market Update’s latest foreign vs. domestic hot rolled steel price comparison shows that, with U.S. HRC prices nearing $1,000 per ton, foreign imports theoretically have become cheaper than domestic steel prices. U.S. producers have lost their price advantage over HRC imports from Far East Asia by over $100 per ton, and imports from Germany […]
Steel Market Update is please to share this Premium content with Executive members. For more information on upgrading to a Premium level subscription, email Info@SteelMarketUpdate.com. The Energy Information Administration’s Dec. 8 Short-Term Energy Outlook remains subject to heightened levels of uncertainty because responses to COVID-19 continue to evolve. Reduced economic activity from the pandemic has […]
Hot rolled steel prices have not yet hit $1,000 a ton, but they are not far behind. Buyers tell Steel Market Update they are seeing offers as high as $1,020 per ton, but no takers so far. SMU puts the average HR price at around $950 per ton, up substantially over last week as the […]
U.S. raw steel production rose 4.2 percent in October to 6,861,000 net tons, as reported by the American Iron and Steel Institute. AISI’s monthly raw steel production estimates are different than the weekly estimates SMU reports each Tuesday; the monthly estimates are based on over 75 percent of the domestic mills reporting versus only 50 […]
October heating and cooling equipment shipments increased to 2.08 million units, up 36.3 percent from one year prior, according to recent data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). Total October shipments were up 2.5 percent from the previous month. For comparison, June 2020 saw the highest monthly shipment level in Steel Market Update’s […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” The historical survey results presentations also are available in the Survey Results section for “Survey Results History.” If you […]
Commerce released final steel import data this week showing October imports totaling 1.51 million net tons, up 20 percent over the month prior. Although imports increased for the month, recall that September imports had fallen to an 11-year low or 1.26 million tons. November import licenses are currently at the 1.40 million ton level, but […]
Flat rolled and plate steel prices continue to be quite fluid based on the analysis of the data from Steel Market Update’s survey of the market this week, as well as individual channel checks with both buyers and sellers. By “fluid,” we mean we are capturing variances in prices over a short period of time. […]
On Monday, Dec. 7, both NLMK and California Steel Industries notified customers of an upward revision to their galvanized steel coating extras. A letter from CSI stated, “Due to changing zinc costs, our Galvanized Coating Extras have been revised. These changes will be effective January 2021.” NLMK and CSI are the first mills to revise […]
U.S and Canadian active rotary drill rig counts were steady to up this week, according to updated data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active U.S. rigs rose by 3 […]
U.S. industrial production, manufacturing and durable goods orders continue to improve from the coronavirus pandemic downturn earlier this year. The health of the manufacturing economy has a direct bearing on the health of the steel industry. The Industrial Production Index The IP index is a gauge of output from factories, mines and utilities. Industrial production […]
Steel Market Update’s latest foreign vs. domestic hot rolled steel price comparison shows that steel imports continue to become more enticing to U.S. buyers, according to the latest SMU and CRU price indices. U.S. producers have again lost their price advantage over HRC imports from Far East Asia, and imports from Germany and Italy are […]
Steel prices continued to climb in November on strong demand and tight steel supplies. Steel Market Update’s hot rolled price index reached $770 per ton by the end of November, up 10 percent from the beginning of the month. The SMU Pricing Momentum Indicator remained at Higher, indicating prices are expected to rise further over […]
Steel Market Update’s check of the market this week shows another jump for both flat rolled and plate, taking the benchmark price for hot rolled steel to an average of $805 per ton. Sources commonly reported paying as much as $840 to secure hot rolled in a market where availability is becoming a critical issue. […]
Preliminary census data shows October imports totaling 1.50 million net tons, up 19 percent over the 11-year low seen in September. For comparison, the lowest monthly import level in the past two decades occured in June 2009 at 862,000 tons. Due to large month-to-month swings in semifinished imports, the chart below shows total monthly imports on […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” The historical survey results presentations also are available in the Survey Results section for “Survey Results History.” If you […]
Flat rolled steel prices just keep ratcheting up as supplies remain extremely tight, with lead times continuing to extend and sources warning of impending shortages of some products (see related articles in this issue). Steel Market Update’s check of the market this week moves the benchmark price for hot rolled up to $770 per ton, […]
Flat rolled steel prices just keep ratcheting up as supplies remain extremely tight, with lead times continuing to extend and sources warning of impending shortages of some products (see related articles in this issue). Steel Market Update’s check of the market this week moves the benchmark price for hot rolled up to $770 per ton, […]
The drill rig counts in the U.S and Canada were mixed this week, according to updated data released by oilfield services company Baker Hughes. The active drill rigs count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active U.S. rigs fell by […]
Steel Market Update’s latest foreign vs. domestic hot rolled steel price comparison shows that steel imports have become more enticing to U.S. buyers than in previous months, according to the latest SMU and CRU price indices. In our previous update in early November, U.S. producers had lost their price advantage over HRC imports from Far East […]
Plate prices have finally gained some traction, seeing a notable jump this past week to an average of $720 per ton, according to Steel Market Update’s latest check of the market. Nucor and SSAB Americas announced plate increases this week in hopes of maintaining that upward momentum. Flat rolled prices continued their relentless climb, with […]
U.S. raw steel production remained steady in September, up 0.8 percent to 6,587,000 net tons, as reported by the American Iron and Steel Institute. AISI’s monthly raw steel production estimates are different than the weekly estimates SMU reports each Tuesday; the monthly estimates are based on over 75 percent of the domestic mills reporting versus […]
September heating and cooling equipment shipments totaled 2.03 million units, up 28.3 percent from the same month one year ago, according to recent data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). Total September shipments declined 3.0 percent from the previous month, but the market is coming down from a recent record-high; June 2020 saw […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” The historical survey results presentations also are available in the Survey Results section for “Survey Results History.” If you […]
U.S. apparent steel supply remained flat from August to September, up 0.4 percent to 7.19 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. While supply levels have improved each month since May, recall that April and May were the two lowest levels seen in the […]
U.S. steel exports continued to recover in September, rising 17 percent from August to 646,194 net tons, according to recent U.S. Department of Commerce data. Total September exports are up 83 percent compared to four months prior, when May exports were at the lowest levels seen in SMU’s 24-year data history. Total September exports are […]
Flat rolled steel prices continued to rise last week, though at a modest $5-10 per ton pace. The exception was Galvalume, which jumped by $40 as demand continues to outpace supplies. The benchmark average for hot rolled coil, at $710 per ton, surpassed the $700 level, where many had expected it to peak. With demand […]