Sheet prices fell across the board this week – largely in response to Nucor’s $65-per-short-ton price cut for hot-rolled (HR) coil on Monday morning. SMU’s HR coil price is $780/st on average, a $35/st decrease week over week (w/w). Our average cold-rolled coil price is $1,090/st (down $30/st w/w). Our galvanized base price is $1,100/st […]
March 2024 represents the third highest monthly steel import rate seen over the prior year.
Foreign cold-rolled (CR) coil remains much less expensive than domestic product even as domestic prices continue to decline, according to SMU’s latest check of the market.
US steel mill shipments dropped in March on-year but were up from February, according to the most recent figures from the American Iron and Steel Institute (AISI).
ArcelorMittal posted a narrower Q1’24 profit compared to Q1’23 but remained optimistic about steel's long-term demand prospects.
Sheet prices were flat or moderately down again this week – underscoring the shift in momentum we’ve seen over the last month. The exception was hot-rolled (HR) coil, which was largely unchanged from last week.
What a difference a month makes. In late March, it seemed like the US hot-rolled (HR) coil market was poised to cycle upward. Large buyers had re-entered the market and placed big orders earlier in the month. Several outages were underway or upcoming. And expectations were that lead times would continue to extend. Cliffs said […]
Foreign cold-rolled (CR) coil remains much less expensive than domestic product, according to SMU’s latest check of the market.
Hot-rolled coil and plate lead times contracted this week, with most other products remaining flat, according to SMU's most recent survey data. Cold-rolled products, however, saw lead times extend 0.1 weeks to an average of 7.5 weeks vs. two weeks earlier. Hot rolled and plate lead times both contracted 0.3 weeks from our last market check.
Sheet steel buyers said mills are more willing to talk price on spot orders, according to our most recent survey data.
Sheet prices were again mixed this week – all seemed to highlight the momentum shift seen over the past two weeks.
Lapham-Hickey Steel has acquired the operating assets of Crystal Steel Corporation of Middleton, Mass., for an undisclosed sum.
Foreign cold-rolled (CR) coil remains less expensive than domestic product, according to SMU’s latest check of the market.
Sheet prices varied this week. While hot-rolled (HR) coil pricing was largely flat, cold-rolled (CR) coil and tandem product pricing eased slightly reflecting the momentum shift seen last week for HR coil. SMU’s average HR coil price was flat from last week at $835 per short ton (st) – potentially emphasizing the tension between competing […]
Steel industry veteran Mark Bush announced he will be joining AM/NS Calvert as area manager steelmaking.
The market appears to be taking a pause after the heavy buying that occurred in March.
Steel buyers said mills are more willing to talk price on spot orders on all the products SMU covers, according to our most recent survey data.
Sheet prices saw a slight momentum shift this week after consecutive gains in the prior two weeks. Plate edged lower on greater competition off easing demand, according to our latest check of the steel market.
Steel Warehouse Co. has announced the rebranding of its Cold Mill division as “Specialty Strip,” a boutique cold mill.
The latest US Department of Commerce data shows 840,000 short tons (st) of steel left the country in February. This is the highest monthly export rate since August 2023.
Steel import licenses through March have now reached a nine-month high according to the latest data from the US Commerce Department.
Steel shipments from US mills were lower in February, both from January and from last year.
The US Department of Commerce’s International Trade Administration (ITA) has revised upwards the antidumping duty (AD) rates on imports of cold-rolled steel flat products from two South Korean producers.
Sheet prices moved higher this week for the second consecutive week, while plate prices ticked lower, according to our latest canvas of the steel market.
After stabilizing in our last check of the market, production times for flat-rolled steel have begun to push out further, according to steel buyers responding to SMU's market survey this week.
Steel buyers report that mills are less willing to talk price on new sheet orders than they were in weeks past, according to our most recent survey data. In contrast, mills’ willingness to negotiate on plate products remains relatively high, now at the second-highest rate of the year.
Galvanized buyers reported solid demand and balanced inventories this week and were anticipating the sheet price increase announced by Cleveland-Cliffs on Wednesday.
The dollar premium cold-rolled coil (CRC) carries over hot-rolled coil (HRC) continues to expand according to our latest scope of the market.
SMU’s sheet prices firmed up modestly this week, even as CME hot rolled futures declined. What gives? My channel checks suggest that demand remains stable and that buyers have returned to the market following new HR base prices announced by mills earlier this month. I’m looking forward to seeing whether lead times, which have stabilized, will start extending. SMU will have more to share on that front when we release updated lead time figures on Thursday. As for HR futures, what a reversal! As David Feldstein wrote last Thursday, bulls expected mill price increase announcements. And we briefly saw the May contract climb as high as ~$1,000 per short ton (st).
Sheet prices reversed course and moved higher this week, while plate priced remained flat, according to our latest canvas of the market.