SMU price ranges: Sheet prices mixed as HR holds, CR/galv dip
Sheet prices were mixed this week, with hot-rolled (HR) coil unchanged but cold-rolled and coated prices down.
Sheet prices were mixed this week, with hot-rolled (HR) coil unchanged but cold-rolled and coated prices down.
Domestic sheet prices slipped again this week, marking the first week of consecutive declines for hot-rolled (HR) coil since September. SMU’s HR price now stands at $1,000 per short ton (st) on average, down $25/st from last week and down $45/st from the start of the year.
Domestic buyers of steel sheet said mills were much more willing to negotiate spot pricing this week, according to our most recent survey data.
US steel exports were flat from October to November, but November took the prize for the fewest monthly exports year to date in 2023.
Bloomberg has reported that Nippon Steel’s $14.1-billion deal for U.S. Steel might not close until 2025 – well after the Q2/Q3 2024 close date both companies have guided toward. That’s because a national security review of the deal ($14.9 billion if you include the USS debt Nippon Steel would assume) by the Committee on Foreign Investment in the United States (CFIUS) could take longer than initially expected
The spread between cold-rolled coil (CRC) and hot-rolled coil (HRC) prices jumped during the week of Jan. 8 as cold rolled tags continued to rise while hot rolled tags held steady.
Steel mill lead times pulled back across the board this week but are still said to be at healthy levels, according to SMU's market survey this week.
The percentage of steel buyers saying mills were willing to negotiate spot pricing on the products SMU surveys was mixed this week.
All of the products SMU surveys notched an increase in the percentage of buyers saying mills were willing to negotiate spot pricing, with the exception of cold rolled, according to our most recent survey data.
Domestic steel mill shipments dipped year-to-date (YTD) through October from a year earlier, according to revised American Iron and Steel Institute (AISI) data.
US hot-rolled coil (HRC) prices were unchanged week over week (WoW) following a string of mostly upward moves dating back to late September.
‘Twas two weeks before Christmas, and at our publication We kept logging steel price increases from across our fair nation.
US steel exports declined for the second month in a row in October, falling to the lowest monthly total so far in 2023.
The percentage of steel buyers saying mills were willing to budge on spot pricing has risen for all sheet products SMU surveys, according to our most recent survey data.
Movements in lead times were mixed in SMU’s check of the market this week – a reflection of the seasonal dip in ordering that is typically seen during the winter holiday season.
AM/NS Calvert will continue providing hot rolling tolling services for Outokumpu for the time being.
The increase in steel imports from September to October was higher than license applications had suggested earlier this month.
Lead times for all steel sheet products but cold rolled were extended last week as prices trend upwards.
The percentage of steel buyers saying mills were willing to negotiate spot pricing has fallen for all products SMU surveys, according to our most recent survey data.
The percentage of steel buyers saying mills were willing to negotiate spot pricing fell for hot rolled this week, while plate's negotiation rate shot up, according to SMU's most recent survey data.
Lead times for most sheet products were pushed out even further this week as domestic prices continue to rise. Plate lead times, meanwhile, contracted on falling prices and waning demand.
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.
Sheet prices are getting back into very lofty territory. That’s assuming you can find spot tons available for the balance of 2023 – and some of you say you can’t.
Mill lead times for flat-rolled products pushed out this week once again across the board.
Steel buyers said mills are less willing to budge on spot pricing for sheet products, but plate bucked this trend, according to SMU’s most recent survey data.
Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.
ArcelorMittal and Stelco joined last week’s move by domestic mills to push sheet prices higher.
The US Department of Commerce’s International Trade Administration (ITA) is updating the antidumping and countervailing duties (AD/CVD) on cold-rolled steel imports from South Korea.
The mill negotiation rate for all products SMU looks at fell this week, with hot rolled dropping 13 percentage points, according to our most recent survey data.
This week’s survey showed steel mill lead times extending across all product lines tracked by SMU.