Sheet price continued to decline this week on increased supply, shorter lead times, and aggressive pricing from some domestic mills. Also pressuring steel prices were expectations of lower scrap prices and import competition. SMU’s hot-rolled coil price now stands at $1,070 per ton ($53.50 per cwt), down $35 per ton from $1,105 per ton last […]
Licenses to import steel into the US declined from March to April, with all major flat-rolled product categories showing month-on-month (MoM) declines, according to the latest figures from the Department of Commerce’s US Steel Import Monitor. Import licenses totaled more than 2.292 million net tons in April. This was a 12% drop from March’s final import […]
US hot-rolled coil prices slipped for a third consecutive week as market participants debated whether and when the declines might accelerate. Another big question: where the new floor for HRC might be? SMU’s hot-rolled coil price dipped to $1,105 per ton ($55.25 per cwt), down $15 per ton from last week and down $55 per […]