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Latest news
US flat-rolled steel import licenses hit a 14-month high
US flat-rolled steel import licenses climbed in September, extending a recovery after several months of depressed inbound shipments. Licenses rose 4.9% month on month to 679,889 short tons (st), their highest level in 14 months and 29.1% above the 12-month moving average (12MMA) for August, according to Commerce Department data.
The increase was led by cold-rolled sheet and other metallic-coated products, with particularly sharp gains in licenses from Turkey, Taiwan, and South Korea. Hot-rolled sheet licenses eased from August’s 19-month high, while galvanized sheet, coiled plate and cut-to-length plate also slipped month on month. Even so, licenses for hot-rolled sheet and both plate categories remained elevated relative to their recent averages, pointing to continued strength across several product lines.
SMU Price Ranges move higher as supply squeeze tightens further
US sheet and plate prices continued to march higher this week as a market squeeze that’s been in place for months now showed no signs of letting up. Market participants, some mostly focused on 2027 contract negotiations, said that it was increasingly difficult to even get a quote for spot tonnage from domestic mills, which firmly retain their grip on pricing power. SMU’s hot-rolled (HR) coil price stands at…
Apparent steel supply remains historically strong through August
The volume of finished steel that entered the US market increased 1% from July to August to the second-highest monthly level recorded in the past four years, according to SMU’s analysis of recently released Department of Commerce and American Iron and Steel Institute data. Apparent steel supply is calculated by combining domestic mill shipments and finished US steel imports, then subtracting total US exports. It can be used as a proxy for domestic steel demand. Supply has remained historically strong since May, when it surpassed the 9 million st mark it had previously been beneath for four years.
Join SMU for a Community Chat with AGC Chief Economist Ken Simonson on Oct. 28
Ken Simonson, chief economist for the Associated General Contractors of America (AGC), will join SMU for a Community Chat webinar on Wednesday, Oct. 28, at 11 a.m. ET. What will we talk about? On the one hand, a steel-intensive data center boom continues to outstrip even the most bullish steel-demand forecasts. On the other hand, some more traditional construction markets are struggling. What happens if the data boom falters?
Commerce to hike AD duty on Taiwanese coated steels
Commerce is amending the anti-dumping duties on corrosion-resistant steel products from Taiwan.
The agency is currently conducting an annual administrative review of the AD order. It is considering the year ended June 30, 2024.
In its preliminary results, Commerce set weighted-average dumping margins of 3.54% for Prosperity Tieh Enterprises, 20.73% for Sheng Yu Steel Co., and 5.92% for Great Grandeul Steel Co. (Samoa).
Commerce updates duties on Japanese HR
The US Department of Commerce has adjusted anti-dumping duties on imports of hot-rolled flat steel products from Japan. The adjustment has lowered duties for one company but raised them for others.
Commerce made the adjustments in the final results of an administrative review of the year ended Sept. 30, 2024.
The agency set a final weighted-average dumping margin of 13.96% for Nippon Steel companies. This is lower than the company’s previous rate of 29.7%.
Nucor, Gerdau up MBQ prices again
Nucor and Gerdau have announced price increases for merchant bar quality (MBQ) products.
The Nucor Bar Mill Group informed customers on Oct. 8 that it was raising prices on all MBQ products by $30 per short ton (st). The move is effective for new orders received after the close of business on Oct. 8.
“All confirmed orders as of the close of business on October 8th, 2026 will be price-protected if shipped by end of business day, October 22th, 2026,” Nucor noted in a letter to customers.
US mill shipments flat m/m in August, up y/y
Domestic mills shipped roughly the same amount of steel in August as they did in July, according to the latest figures from the American Iron and Steel Institute (AISI).
US mills shipped 8,220,544 short tons (st) in August, up marginally from 8,219,549 in July, AISI said.
But while the month-over-month (m/m) comparison was roughly flat, year-over-year (y/y) comparisons point to a significant increase in domestic shipments.
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