Sheet and plate prices continue to push higher on increasingly tight supplies and solid demand, market participants said. The domestic market remains characterized by both limited spot availability and limited contract availability. Buyers continue to report having difficulty finding spot material and being held below their contract maximums and sometimes to their contract minimums.
Most steel buyers responding to our latest market survey reported that mills continue to hold a firm grip on prices. Negotiation rates remain low on all sheet and plate products. In late August, the share of buyers reporting that mills were negotiable fell to the lowest rate seen in almost five years, and that rate was unchanged through this week.
Steel mill lead times held steady for sheet products this week and extended further on plate, according to buyers responding to our latest market survey. Production times have been historically long for most of the summer, currently at or near multi-year highs on each of the products we measure. Over two-thirds of the buyers responding to this week’s survey (68%) believe lead times will be flat two months from now, similar to recent surveys. Of the remainder, 19% predict lead times will extend further, and 13% expect contractions.
Flat-rolled steel prices inched higher again this week, continuing a trend that has characterized the market for most of this year. SMU’s hot-rolled (HR) coil price now stands at...
Sheet prices mostly ticked upward again this week on a series of factors long familiar to the market: long lead times, limited spot availability, and solid demand.
Steel mill lead times remained extended on both sheet and plate products this week, according to buyers responding to our latest market survey. Production times have been historically long for most of the summer, remaining at or near multi-year highs across all of the products we track.
Most steel buyers who responded to our market survey this week reported that mills are holding a firm grip on sheet and plate prices. The share of buyers reporting that mills were negotiable fell to the lowest rate seen in almost five years. Negotiation rates for three sheet products are down to multi-year lows.
Sheet prices and plate prices continued their relentless march higher over the last week as more participants said they were effectively on allocation, especially when it comes to hot-rolled (HR) coil.
Sheet and plate prices either held their ground or increased this week amid what remains an historically tight spot market.
Most steel buyers report that mills are unwilling to budge on new sheet and plate spot order prices this week. Negotiation rates have been low for most of this year, having recently fallen to one of the lowest measures recorded in almost five years.
Sheet and plate prices continue to rise on extremely limited spot availability, long lead times, and solid demand, according to market participants.
The US Court of International Trade (CIT) has ordered the Commerce Department to redo its final dumping determination for Mexico’s Galvasid SA de CV in the corrosion-resistant (CORE) steel investigation.
SMU’s sheet and plate price indices were steady to higher this week, with all products at multi-year highs.
The US Department of Commerce is adjusting the import duties on Korean cold-rolled and galvanized steel after two administrative reviews.
Steel mill lead times have trended upward since last November and now stand at or near multi-year highs for all products.
Sheet prices continued to grind higher this week on factors familiar to most steel market participants: extremely limited spot availability, long lead times, low inventories, and firm demand.
Hot-rolled and cold-rolled prices held steady again this week while prices for coated products and plate continued to tick upward.
On July 1, CRU launched a US Galvalume coil benchmark price to serve this growing market.
Steel mill lead times for flat-rolled steel this week remained extended at historical highs. Plate production times crept out further, while hot-rolled and cold-rolled (HR/CR) coil saw minor contractions.
The majority of steel buyers we polled this week reported that mills are holding firm on new order spot prices.
Market reaction to Nucor’s move was mixed. Some sources said a flat CSP reflected concerns that further increases in US HR prices could attract more import competition. Others expressed frustration. Their view: CSP has kept a lid on prices, something that shouldn’t happen when many buyers remain more concerned about availability than price.
Hot-rolled (HR) coil and plate prices continued to tick higher even as cold-rolled (CR) and coated prices came in unchanged, according to SMU’s latest check of the market.
Steel mill lead times remained extended this week on both sheet and plate products. Current production times three to four weeks longer than levels seen last summer.
Steel buyers negotiation rates remain at or near historic lows across most sheet and plate products.
US sheet prices continue to move higher on extremely limited spot availability, solid demand, and extended lead times.
SMU’s sheet price indices increased further this week, while plate held steady, all at multi-year highs.
Steel mill lead times extended this week on both sheet and plate products, now at multi-year highs.
This week we saw continued low negotiation rates across all products, with cold rolled and plate the least negotiable and galvanized the most.
All five of SMU’s price indices increased this week to new multi-year highs. Prices have increased by 20-25% since the beginning of the year.
We are happy to share that the SMU Price Estimator Tool is now a little easier to navigate.