Northwest Pipe Q3 Results Down, Optimistic on Q4 Backlogs
Northwest Pipe reported declining third-quarter earnings but remains upbeat about its fourth-quarter performance.
Contributor: David Schollaert
David Schollaert
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Gap Widens Between US and Foreign Hot Band Prices
US hot-rolled coil (HRC) tags moved higher again this week, widening the gap in pricing between imported offshore product.
Plate Report: Nucor’s Plate Price Cut Stuns
Nucor’s plate price cut notice caught many off guard this week, especially after the company had maintained its pricing position in late September.
AM/NS Calvert Increases Sheet Again, Seeks $900/ton HR base
ArcelorMittal joins U.S. Steel and Cleveland-Cliffs, pushing sheet prices higher, according to an internal commercial memo on Oct. 31.
SMU Price Ranges: Sheet Surges on Limited Spot Availability, Plate Drops on Nucor Decrease
Sheet prices surged this week on limited spot tonnage and on the heels of steep price increases announced by domestic mills.
SMU Market Survey Results Now Available
The latest SMU Market Survey results are now available on our website to all Premium members.
SMU Price Ranges: Sheet Up as Price Hikes Gain Traction
Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.
Nucor Confident on Strong Long-Term Appetite for Steel
Nucor Corp. remains incredibly bullish long-term on steel demand, but an underlining theme during the steelmaker’s third-quarter earnings conference call with analysts on Tuesday, Oct. 24, was tempered near-term expectations.
Domestic HRC Prices Surpass Foreign Hot Band
US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.
Housing Starts Surprise, Recover in September
US housing starts increased in September despite high-interest rates, according to the latest estimates from the US Census Bureau.
SMU Price Ranges: Sheet Prices Up Again, But Outlooks Diverge
Sheet prices notched a third consecutive week of gains on limited supply and stable demand outside of automotive operations impacted by the UAW strike.
Worldsteel: Steel Demand to Grow 1.8% in 2023
Global steel demand will reach 1.81 million metric tons in 2023, a 1.8% year-on-year boost, the World Steel Association (worldsteel) said in its updated Short Range Outlook report.
SMU Steel Demand Index Inches Up Again But Still in Contraction
Steel Market Update’s Steel Demand Index remains in contraction territory despite repeated improvements since mid-September, according to our latest survey data.
SMU Market Survey Results Now Available
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, […]
U.S. Steel Opens New NGO Electrical Steel Line at BRS
U.S. Steel Corp. celebrated the opening of its $450-million non-grain oriented (NGO) electrical steel line at its Big River Steel Works in Osceola, Ark.
Foreign and Domestic HRC Prices Near Parity
US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.
SMU Price Ranges: Sheet Rises Again, HRC Firms Around $700/ton
Sheet prices moved upward for the second week in a row despite the ongoing UAW strike and concerns in some corners that momentum from a price hike last month might be fading, market participants said.
Dodge Momentum Index Improved in September
The Dodge Momentum Index (DMI) edged up in September, driven by a slight increase in planning despite tighter lending standards, according to the latest Dodge Construction Network (DCN) data.
US HRC Prices Move Nearly Even With Imports Again
US hot-rolled coil (HRC) and offshore product are nearing parity again after domestic prices moved higher this week and imports declined again.
SMU Price Ranges: Sheet Rebounds – Sustainable Rally or Dead-Cat Bounce?
Sheet prices rose this week on the heels of a price increase announced by Cleveland-Cliffs last week that was quietly followed by other mills.
ISM: US Manufacturing Improved in September, But Still Contracting
US manufacturing activity improved in September, nearing a recovery, but remained in contraction territory, according to the Institute for Supply Management (ISM).
SMU's September at a Glance
Steel prices continued to decline last month – a trend we’ve seen repeated since mid-April.
Plate Report: Mills Hold the Line Despite Slowing Demand
US plate prices have been relatively flat this year, especially when compared to sheet products. Case in point; SMU's plate prices stands at $1,455 per ton ($72.75 per cwt) on average, down 7% from a $1,560 per ton peak in April. Our HRC price is at $645 per ton, down 44% from an April peak of $1,160 per ton.
SMU Market Survey Results Now Available
The latest SMU Market Survey results are now available on our website to all Premium members.
Nucor Maintains Plate Prices
Nucor Corp. will keep plate prices unchanged with the opening of its November order book.
US HRC Prices Remain Well Below Landed Price for Imports
US hot-rolled coil (HRC) prices were down again vs. offshore hot band this week. Domestic HRC lost more ground relative to imported product with US tags sinking at a faster rate than those overseas.
Cliffs Increases Sheet Prices, Sets $750/t Base for HRC
Cleveland-Cliffs is increasing its sheet tags, setting a new base price for hot-rolled coil, effective immediately, the company said in a press release on Wednesday, Sept. 27.
SMU Price Ranges: Sheet Declines Moderate – Meaning or Noise?
Hot-rolled coil prices were down again this week, continuing a streak of week-over-week (WoW) declines that began in early/mid-July.
August Imports Down Again, Even Lower YoY
The drop in imports continued for the second straight month, in line with license applications and falling lower year on year (YoY).
Community Chat with AGC Chief Economist Ken Simonson
Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Oct. 4, at 11 a.m. ET.