Contributor: David Schollaert

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

Final Thoughts

We just wrapped up another Steel 101 workshop, easily the most hands-on industry workshop on steelmaking and market fundamentals.

Active rig counts rise in US and Canada

Drilling activity increased in both the US and Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.

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.

Gap between US HR prices, imports narrows

SMU’s average price for domestic hot-rolled (HR) coil was $800 per short ton (st) this week, up $5/st week on week (w/w). In offshore markets last week, prices were varied.

US rig count slips, Canada ticks higher

ncreases through September, according to the latest Baker Hughes rig count data.

HVAC equipment shipments down through August

Although total HVAC shipments fell in August, YTD volumes remain relatively strong. Nearly 15 million units were produced in the first eight months of the year, the fourth-highest rate in our 19-year data history.

Gap between US HR prices, imports little changed

SMU’s average price for domestic hot-rolled (HR) coil was $795 per short ton (st) this week, sideways week on week (w/w). The move was different in offshore markets last week, as prices eased marginally.

Dodge Momentum Index ticks higher in September

The Dodge Momentum Index (DMI) rose more than 3% in September, up for a fifth straight month. The index is now up 33% year-to-date, according to the latest data released by Dodge Construction Network.

SMU Price Ranges: HR holds, galv slips amid competing market narratives

SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.

AISI: Raw steel production ticks back down

US raw steel output declined last week after increasing the week prior, according to the latest data from the American Iron and Steel Institute (AISI). Output has see-sawed from week to week since mid-August. Still, it has remained historically strong over the past four months and has held near multi-year highs since June. Domestic mills […]

Nucor carries $875/ton HR list price into week seven

Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Oct. 6

SMU Scrap Survey: Current and Future Sentiment tick down

SMU’s Current Sentiment Index for scrap decreased this month, a move mirrored by our Future Sentiment Index, according to the latest data from our ferrous scrap survey.

SMU scrap market survey results now available

SMU’s October ferrous scrap market survey results are now available on our website to all premium members.

Gap between US HR and landed import prices starts to narrow

The price gap between stateside hot band and landed offshore product narrowed this week. Still, with the 50% Section 232 tariff, most imports remain much more expensive than domestic material.

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.

Plate market sources critique mill hikes amid current market conditions

Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."

Nucor increases plate prices by $60/ton

Nucor aims to increase prices for steel plate by $60 per short ton with the opening of its November order book.

Nucor’s $875/ton HR spot price spills into week six

Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Sept. 29.

Little change in price gap between US HR, imports

SMU’s average price for domestic hot-rolled (HR) coil held at $785 per short ton (st) this week, unchanged week on week (w/w). A similar dynamic was seen in offshore markets last week as well.

US nonresidential construction down in August: Dodge

US nonresidential building starts fell 5.4% in August, to a seasonally adjusted annual rate of $431 billion, according to the latest data released by Dodge Construction Network.

Nucor carries $875/ton HR list price into fifth week

Nucor kept hot-rolled (HR) coil prices unchanged this week, according to its latest consumer spot price (CSP) notice on Monday, Sept. 22.

Price gap between US CR, most imports narrows

Cold-rolled (CR) coil prices ticked up in the US this week, matching a similar trend seen in offshore markets as well.

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.

Final Thoughts

We’ve been talking about a potential inflection point for the past couple of weeks. And the market does appear to be nearing one.

Domestic HR and offshore import prices continue to diverge

With only a modest decline in US prices, HR imports, on a landed basis, remain much more expensive than domestic hot band.

Nucor’s hot band list price holds at $875/ton

Nucor held its hot-rolled coil list price flat again this week, according to its Monday, Sept. 15 consumer spot price (CSP) notice.

Price gap between US CR, most imports widens

Cold-rolled (CR) coil prices ticked lower in the US this week, while prices in offshore markets mostly diverged and ticked higher.

HVAC equipment shipments down through July

Total heating and cooling equipment shipments eased again in July, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).

Some Asian HR prices theoretically lower than US HR tags despite 50% S232 tariff

Domestic hot-rolled (HR) coil prices ticked down this week after holding flat since mid-August. Offshore prices largely all moved higher week over week (w/w), widening the margin between stateside and foreign product.

Nucor maintains plate prices, opens October order book

Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.