US plate prices are at their lowest level in nearly four years and mills continue to do what they can to limit the bleeding. Domestic prices are now just a fraction of their all-time high of $1,940 per short ton (st) reached in May 2022, and trending lower.
Steel Market Update’s Steel Demand Index recovered by nearly 10 points last week, though it still remains in contraction territory.
The price spread between US-produced cold-rolled (CR) coil and offshore products on a landed basis widened slightly in the week ended Nov. 22.
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US hot-rolled (HR) coil prices slipped this week, while tags in offshore markets were also largely down. Thus, the price premium between stateside hot band and imports on a landed basis was relatively unchanged.
US housing starts moved lower through October, declining for a second straight month after peaking in August, according to the latest data release from the US Census Bureau. Total housing starts stood at a seasonally adjusted annual rate (SAAR) of 1.31 million units in October, a 3.1% dip from September’s 1.35 million units. At the […]
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil was unchanged week on week (w/w) at $750 per short ton (st) on Monday, Nov. 18.
The price spread between US-produced cold-rolled (CR) coil and offshore products slipped in the week ended Nov. 15, on a landed basis.
North American auto assemblies rallied in October, rising 11.3% above September, reaching the best output year to date. Assemblies were also up 7% year on-year (y/y), according to LMC Automotive data.
According to data from the US Bureau of Economic Analysis, US light-vehicle (LV) sales accelerated to an unadjusted 1.33 million units in October, a rise of 1.7% from September and 10.6% from a year ago.
Flat rolled = 63.4 shipping days of supply Plate = 52.4 shipping days of supply Flat rolled shipments and inventories Flat-rolled steel supply at US service centers remains seasonally high. October inventories increased after edging lower in September – a dynamic driven largely by disappointing demand. October’s report reflects lower demand and stable lead times […]
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US hot-rolled (HR) coil prices edged up this week, while tags in offshore markets moved lower. As a result, domestic tags pulled ahead of imports on a landed basis. Since becoming level with import prices in late August, stateside tags had been mostly stable, though they slowly drifted closer to parity over the past month. […]
Domestic raw steel production recovered last week, after slipping the week prior, according to the latest American Iron and Steel Institute (AISI) data. Weekly production remains at some of the lowest levels recorded this year.
Cleveland-Cliffs announced the closing of its December order book for hot-rolled coil spot purchases, though it said contract bookings remain available.
Worthington Steel has named Cliff Larivey as the company’s president of flat-rolled steel processing, effective Dec. 1. He will replace Jeff Klingler, who had been performing the role for the past year.
Another presidential election cycle has come to an end. If you’re anything like me, part of you is just happy you no longer need to unsubscribe or “text STOP to opt-out” from the onslaught of political text messages this cycle produced.
Slowing growth in data center planning and nonresidential projects caused the Dodge Momentum Index (DMI) to pull back in October.
The price spread between US-produced cold-rolled (CR) coil and offshore products remained largely flat in the week ended Nov. 8, on a landed basis.
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 […]
ArcelorMittal’s earnings saw notable declines from a year earlier as the company said market conditions remain challenging.
US hot-rolled (HR) coil prices moved lower this past week while tags in offshore markets were largely higher. Domestic tags are again nearly level with imports on a landed basis.
Construction spending in the US picked up in September and maintained a notable year-over-year (y/y) rise.
Metalformers in the US and Canada expect a decline in economic activity in the coming months, according to the recently released October Business Conditions Report from the Precision Metalforming Association (PMA). Approximately 37% of surveyed manufacturers anticipate weaker business conditions over the next three months. This rate is up from 31% in September but a […]
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and cut-to-length plate with the opening of its December order book.
Primetals Technologies renewed two long-term maintenance service contracts with steel producers in the Americas.
US plate prices are at their lowest level in almost four years, and less than half of what they were when they reached an all-time high of $1,940 per short ton (st) in May 2022.
The price spread between US-produced cold-rolled (CR) coil and offshore products was negligibly tighter in the week ended Oct. 25, on a landed basis.
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 […]