Nucor spot HR list price unchanged at $875/ton
Nucor kept its weekly list price for hot-rolled (HR) coil unchanged this week, following a price bump of $10 per short ton (st) last week.
Contributor: David Schollaert
David Schollaert
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Rig count dips again in both US and Canada
Oil and gas drilling activity waned in the US and Canada this past week. Ticking own for the second straight week in both regions.
Chicago Business Barometer drops in August
The Chicago Business Barometer, a leading indicator for the broader US economy, remains in contraction, slipping 5.6 points to 41.5 in August.
Spread between US HRC and imports holds
Domestic hot-rolled (HR) coil prices were flat this week, while offshore prices varied week over week (w/w). The price margin between stateside and foreign product was little changed as a result.
Active rig count declines in US, Canada
Oil and gas drilling activity slowed in the US and Canada this past week. An unfamiliar trend after both regions saw repeated gains of late.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
Spread between US HRC and imports widens on S232
HRC prices in the US eroded further last week, while offshore prices varied week over week (w/w), widening the price margin between stateside and foreign product.
SMU price ranges: Flat-rolled balloon continues to leak
Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.
Service centers: Mill orders improve in July
SMU’s Mill Order Index (MOI) moved higher in July after rebounding the month prior. The shift comes after mill orders declined from March through May.
AISI: Domestic steel production edges down
US raw steel production declined last week, according to the latest data released by the American Iron and Steel Institute (AISI).
North American auto assemblies tumble in July
North American auto assemblies declined in July, down 16.4% vs. August. But, according to GlobalData, assemblies were 2.4% ahead year on year (y/y).
US light-vehicle sales rebound in July
US light-vehicle (LV) sales increased to an unadjusted 1.37 million units in July, 8.7% over June and 6.6% above year-ago totals, according to US Bureau of Economic Analysis data.
Final Thoughts
Don't be puzzled. Solve our crossword, and get ready for Steel Summit 2025!
Manufacturing in New York state improves again in August
Business activity in New York state improved modestly in August. It was just the second positive reading for the general business conditions index in six months.
Active rig count holds in US but grows in Canada
Oil and gas drilling in the US was unchanged this past week following three straight weeks of declining activity. Canada saw another gain, reaching a 22-week high.
CR import price gap widens with US
Cold-rolled (CR) coil prices continued to decline in the US this week, while prices in offshore markets diverged and ticked higher.
S232 widens the spread between US HRC and imports
Hot-rolled (HR) coil prices in the US declined again last week, while offshore prices ticked higher again week over week (w/w).
SMU Community Chat replay now available
The latest SMU Community Chat webinar reply featuring Lewis Leibowitz, trade attorney and SMU columnist, is now available on our website to all members.
Final Thoughts
Yesterday’s tragedy and loss of life at U.S. Steel’s Clairton Works is a stark reminder of how important safety in the workplace really is.
US HR prices and imports diverge, 50% S232 drives the gap
Hot-rolled (HR) coil prices in the US declined again last week, while offshore prices increased week over week (w/w).
SMU flat-rolled market survey results now available
SMU’s Aug. 8, 2025, steel buyers market survey results are now available on our website to all premium members.
SMU's July at a glance
SMU’s Monthly Review provides a summary of our key steel market metrics for the previous month, with the latest data updated through July 31.
SMU scrap market survey results now available
SMU’s August ferrous scrap market survey results are now available on our website to all premium members.
Active rig counts slipped in US, Canada
Drilling activity slowed in the US and Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.
ISM: Manufacturing growth slows in July, hits 10-month low
US manufacturing activity slowed again in July to a 10-month low
50% S232 keeps EU import HR prices above US tags
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.
Algoma swings to loss on ‘unprecedented disruptions’ and trade barriers
Canada’s Algoma Steel saw a sharp loss in the second quarter amid a continued challenging market environment and “tariff uncertainties.”
SMU Steel Demand Index still lags
The Steel Demand Index now stands at 42, up from 38.5 in early July, but off from a four-year high of 65.0 in late February.
North American auto assemblies down in June
North American auto assemblies declined in June, down 10.6% vs. May. And, according to GlobalData, assemblies were 3.1% down year on year (y/y).
SMU Price Ranges: Sheet prices tick lower, but floor remains high vs. '24
Sheet prices slipped again this week amid discounting from certain mills and ongoing concerns about demand.