Contributor: David Schollaert

Rig counts in the US and Canada both notched week-on-week increases for the week ended Jan. 26, Baker Hughes’ latest data shows.

Global steel output fell in December, led by cuts in China, the World Steel Association (worldsteel) said in its latest monthly report. Annual totals in 2023 saw a similar trend.

US hot-rolled coil (HRC) prices declined further this week, easing to their lowest level since late November. And while domestic tags remain notably more expensive than offshore product, the premium has declined as imported hot band tags have moved higher.

Domestic sheet prices slipped again this week, marking the first week of consecutive declines for hot-rolled (HR) coil since September. SMU’s HR price now stands at $1,000 per short ton (st) on average, down $25/st from last week and down $45/st from the start of the year.

US housing starts moved lower in December, even as single-family production topped the million mark for the second straight month, according to the most recent data from the US Census Bureau.

Metalformers remain positive about business prospects for the first quarter of 2024, boosted by reported growth in January.

Domestic production of raw steel edged lower for a second straight week, according to the most recent data from the American Iron and Steel Institute (AISI).

We’re just a week away from the 35th annual Tampa Steel Conference! It’s one of the premier domestic steel conferences and the first can’t-miss event of 2024. If you haven’t already registered, there is still time but make sure to book now!

The latest SMU 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.” Historical survey results are also available under that selection. If you need help accessing the survey results, […]

New York state saw manufacturing shrink in January, reaching its lowest reading since the depths of the pandemic in early 2020, according to the latest Empire State Manufacturing Survey.

US hot-rolled coil (HRC) prices edged down this week while import prices moved higher on average. Domestic hot bands’ premium over cheaper imports declined as a result. But overall, US product remains substantially more expensive than overseas material. All told, US HRC prices are 21.4% more expensive than imports, a premium that is down three […]

US hot-rolled (HR) coil prices fell noticeably this week for the first time since late September. SMU’s hot-rolled coil price now stands at $1,025 per ton on average, down $25 per ton from last week. Cold-rolled (CR) coil was unchanged at $1,325 per ton.

Raw steel production in the US decreased marginally in the second week of 2024, according to the most recent data from the American Iron and Steel Institute (AISI). Domestic steel output totaled an estimated 1,699,000 net tons in the week ended Jan. 13. That’s down 0.5% from the previous week, and comparable to the same […]

US hot-rolled coil (HRC) prices were unchanged this week but remain significantly more expensive than offshore product. While imported hot band tags increased vs. last week, gains were marginal, keeping domestic HRC substantially more expensive than imports. All told, US HRC prices are 24.3% more expensive than imports, a premium that is down only slightly […]

The latest SMU Community Chat replay with Reibus’ new CEO, Temy Mancusi-Ungaro, and company President, Chris Shipp, is now available to all premium members on our website. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section for the latest Community Chat replay. Historical Community Chats are also available […]

Hot-rolled (HR) coil prices remain in the holding pattern they've been in since mid-December, according to SMU pricing archives.

Steel prices continued to move higher last month on the back of repeated mill price increases after tags reached a 2023 low of $645 per ton in late September. Hot-rolled coil (HRC) prices ended December at an average of $1,035 per ton ($51.75 per cwt), rising by $112 per ton during the month.

The latest SMU 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.” Historical survey results are also available under that selection. If you need help accessing the survey results, […]

US hot-rolled coil (HRC) prices moved up again this week and remain significantly more expensive than offshore product.

Cleveland-Cliffs is now targeting base prices of $1,150 per ton for hot-rolled coil (HRC), according to a press release on Wednesday morning, Jan. 3.

Sheet prices were mixed in SMU’s first assessment of the market in the New Year.

Nucor Corp. announced in a letter to customers on Friday, Dec. 29, that its plate mill group would hold prices unchanged for as-rolled discrete plate, normalized, and quenched-and-tempered plate with the opening of its plate mill order book for February.

Steel Market Update’s Steel Demand Index declined, falling back into contraction territory after a very short-lived gain just two weeks ago, according to our latest survey data.

US hot-rolled coil (HRC) prices might have plateaued. But while prices for offshore product have increased in some regions, imports remain significantly cheaper that domestic material. All told, US prices are roughly 26% more expensive than imports, a premium that is down only slightly from last week.

The latest SMU 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.” Historical survey results are also available under that selection. If you need help accessing the survey results, or if […]

US hot-rolled coil (HRC) prices were unchanged week over week (WoW) following a string of mostly upward moves dating back to late September.

Steel Market Update’s Steel Demand Index has moved into growth territory, but barely, after recovering slightly from our reading in late November, according to our latest survey data.

US hot-rolled coil (HRC) prices continued their upward movement this week, distinctly outpacing increases for offshore product once again. Domestic tags are now 27% more expensive than imports - the widest pricing gap in nearly two years.

Sheet prices increased again this week on the heels of higher costs for scrap, pig iron, and iron ore.

US apparent supply increased to 8.11 million net tons in October, up 4% compared to 7.82 million tons in September, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI).