US Hot-rolled coil (HRC) prices continue to surge on the heels of mill increases. They have become significantly more expensive than prices for hot band imported from offshore. Domestic hot band tags moved higher for a seventh consecutive week. Imports have seen only marginal gains over the same period, according to SMU’s latest foreign vs. domestic price analysis.
Cleveland-Cliffs announced it would seek a minimum base price of $1,000 per ton ($50 per cwt) for hot-rolled coil (HRC) on Nov. 7. Nucor said a day later that it was aiming for $950 per ton. Why didn’t Nucor follow Cliffs up to $1,000 ton? I think there might be some possible answers in our […]
Hot-rolled coil (HRC) tags continue to rally in the US, broadening the price disparity between domestic and imported offshore product.
Nucor Corp. announced this morning that it is joining Cleveland-Cliffs, aiming to increase prices for hot-rolled steel (HRC) and heavy gauge hot-rolled products, effective immediately.
Cleveland-Cliffs Inc. said on Tuesday that it had raised minimum base prices for hot-rolled coil (HRC) to $1,000 per ton ($50 per cwt).
You could make a case that Nov. 1 was April Fool’s Day for steel – or at least for the widespread rumor that Cliffs would announce a $10-billion deal for U.S. Steel on that date. I’m not going to endorse any precise date or price tag. But I’d be surprised if a deal – or […]
ArcelorMittal joins U.S. Steel and Cleveland-Cliffs, pushing sheet prices higher, according to an internal commercial memo on Oct. 31.
The Alliance for Automotive Innovation (AAI), the association representing auto manufacturers making most vehicles sold in the US, has voiced its opposition to the potential acquisition of U.S. Steel by Cleveland-Cliffs.
Cleveland-Cliffs said Tuesday that it would increase spot market base prices for carbon hot-rolled, cold-rolled, and coated steel sheet.
U.S Steel posted sharply lower earnings as a result of a drop in steel prices and only modest gains in shipments. The Pittsburgh-based steelmaker said little about the sales process it launched in August.
Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.
On the company’s third-quarter earnings call with analysts on Tuesday, Oct. 24, Cleveland-Cliffs executives were careful not to disclose anything about their talks with U.S. Steel on a potential acquisition.
Cleveland-Cliffs says it is taking advantage of higher demand from the automotive sector – its biggest end-use market – this year.
Cleveland-Cliffs posted solid results for the third quarter, with strong steel shipments, particularly to the automotive industry, the steelmaker said in its Q3 earnings report on Monday, Oct. 23.
This week could be a big one for steel, or at least for the steel rumor mill. For starters, there is renewed speculation that an announcement about the U.S. Steel sales process could be in the works. The rumor mill is also churning fast when it comes to the duration of the UAW strike and […]
Well, what a difference a month makes…
U.S. Steel on Thursday said it planned to increase spot base prices for steel sheet by at least $100 per ton ($5 per cwt).
US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.
Cleveland-Cliffs said on Thursday it's targeting a minimum base price for hot-rolled steel of $800 per net ton ($40 per cwt).
Nucor Corp. aims to raise base prices for hot-rolled coil to a minimum of of $800 per ton ($40 per cwt).
If you think prices will continue to rise, you might point to longer lead times and stable order entry.
The US Department of Energy announced seven projects that will receive $7 billion in funding to establish regional hydrogen hubs across the country.
Steel Market Update’s Steel Demand Index remains in contraction territory despite repeated improvements since mid-September, according to our latest survey data.
SMU’s latest survey data are out, and they reflect a consensus among steel buyers that sheet prices have bottomed out and might rebound. Lead times continue to extend. Fewer sheet and plate mills are willing to negotiate lower spot prices. And 70% of survey respondents think prices have already bottomed out or will later this […]
US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.
The US Department of Commerce has issued its final ruling in an expedited sunset review of antidumping duties on imports of tin mill products from Japan.
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.
The US steel market appears to have gone from despairing over the possibility of spot HRC prices slipping into the $500s per ton to worrying about spot availability – and in just a matter of 2-3 weeks.
What has happened since the August hot rolled (HR) settlement ($767 per short ton)?
US hot-rolled coil (HRC) and offshore product are nearing parity again after domestic prices moved higher this week and imports declined again.