Sheet prices continued to fall this week on lower raw material costs, a buyers’ strike and concerns in some corners about a potential recession. But that gloomy sentiment was not universally shared, with some sources pointing to strong or at least steady demand despite the lower prices. SMU’s average hot-rolled coil price now stands at […]
Hot-rolled coil prices have suffered their biggest week-over-week decline since before the war in Ukraine sent tags sharply higher. Steel Market Update’s average hot-rolled coil price stands at $1,100 per ton ($55.50 per cwt), down $90 per ton from $1,190 per ton last week and down $265 per ton from $1,365 per ton in mid-May. […]
Steel Market Update’s latest market check indicates steel mill lead times continue to decline for sheet products as they move closer to historical norms. Plate lead times have been relatively flat since mid-May. Lead times over the past two weeks have been roughly in line with what we were seeing in the early weeks of […]
Three out of four buyers report that mills are willing to talk price to secure an order, according to executives polled in our latest steel market survey. Mills’ willingness to negotiate has remained over 50% in each of our market checks over the last four weeks. Every other week, SMU asks survey respondents: Are you […]
US hot-rolled coiled prices have fallen below $1,200 per ton ($60 per cwt) for the first time since the outbreak of the war in Ukraine. SMU’s hot-rolled coil price stands at $1,190 per ton ($59.50 per cwt), down $65 per ton from last week and down $290 per ton from a post-war high of $1,480 […]
Flack Global Metals (FGM) will open a new metals service center near the port of Houston in the fourth quarter of this year, the company announced Tuesday. “FGM Houston” will be located on the campus of North Shore Steel and is FGM’s first physical location. The 60,000-square-foot facility will service flat-rolled steel, aluminum, and stainless […]
Sheet and plate prices continued to slip this week on expectations of lower scrap costs in June, increased import competition, and so-so demand, market participants said. Hot-rolled coil prices were down $35 per ton as were plate prices. Coated products were off by $25 per ton. Cold-rolled prices were up $10 per ton – or effectively […]
Commercial Steel Products LLC (CSP) has acquired Ace Steel Supply Inc. (Ace) in a stock purchase agreement. The deal between the two steel service centers represents an alignment of mutual strategic interests, CSP said. Dallas-based CSP is a supplier of steel products, including tubular, flat-rolled, and structural steel. Its acquisition of Houston-based Ace will enhance […]
Steel Market Update’s latest check of the market indicates steel mill lead times are slowly reverting back towards historical norms for most sheet products, while Galvalume and plate lead times inched up compared to two weeks prior. Lead times are now in line with levels seen in the beginning of 2022. Buyers surveyed this week […]
Flat-rolled steel prices were down again this week. Not as much as some had feared but the drops were more substantial than those hoping for a modest decline or stable pricing might have liked. The takeaway: Hot-rolled coil is now down $190 per ton ($9.50 per cwt) over the last five weeks. In other words, […]
Editor’s note: Steel Market Update is please to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. Following record price increases in March and April, prices for six of the seven steelmaking raw materials tracked in this SMU analysis declined over the last 30 days. […]
Sheet prices slipped again this week on what some sources described as a summertime market that has arrived a few weeks earlier than usual. SMU’s hot-rolled coil price was down $15 per ton week-over-week (WoW) to an average of $1,350 per ton ($67.50 per cwt). Other sheet products also fell, with cold-rolled down $30 per […]
The firm grip mills have held on price negotiations in March and April has loosened, according to buyers polled in our latest steel market survey. A large portion of steel buyers now report that mills are willing to talk price to secure an order. Every two weeks, SMU asks survey respondents: Are you finding domestic mills willing to negotiate spot […]
Steel Market Update’s market check this week indicates steel mill lead times are shortening for both sheet and plate products, easing an average of 0.9 weeks compared to two weeks prior. This also marks the first time lead times have fallen consecutively since January. Lead times for all tracked products are now roughly in line with levels […]
Sheet prices have fallen sharply following weeks of more modest declines. The big drops this week prompted SMU to shift all its sheet price momentum indicators from neutral to lower. SMU’s hot-rolled coil price plunged $75 per ton ($3.75 per cwt) week-over-week, falling well below the $1,400-per-ton threshold. Cold rolled fell $55 per ton, galvanized […]
Sheet prices were flat or lower again this week on expectations of lower scrap prices and concerns about increased import competition over the summer months. Hot-rolled coil prices were down $10 per ton, cold-rolled prices were unchanged, galvanized base prices down $30 per ton, and Galvalume base prices down $35 per ton. Plate prices were […]
Ternium plans to continue to invest heavily in and to grow its North American presence – including in the US, company CEO Máximo Vedoya said. Case in point: The Latin American steelmaker is considering a new United States-Mexico-Canada (USMCA) compliant greenfield electric-arc furnace facility. “An announcement could still be seen in either 2022 or 2023 – we […]
Steel mills appear to be loosening their firm grip on price negotiations, according to buyers polled in our latest steel market survey. Over half of hot rolled steel buyers now report that mills are willing to talk price to secure an order. Every two weeks, SMU asks respondents: Are you finding domestic mills willing to negotiate spot pricing […]
Steel Market Update’s latest check of the market indicates steel mill lead times are sideways to down for sheet and plate products, decreasing by an average of 0.4 weeks compared to two weeks prior. This is the first time lead times have declined on average since late January. Hot rolled, cold rolled, and galvanized lead […]
Sheet prices continue to bump around what some sources think might be the top of the market, with prices for most products down modestly week-over-week. Hot-rolled coil and cold-rolled prices slipped $30 per ton ($1.50 per cwt). Galvanized base prices were down $20 per ton. And Galvalume prices slipped $45 per ton. The dip comes […]
Earlier this week, US Steel and Big River Steel notified customers of an upward revision to their galvanized steel coating extras. New USS extras are effective May 29, 2022, while BRS extras are effective June 4, 2022. “Input costs of zinc and aluminum for our Hot Dipped Galvanized and Galvalume products have continued to rise, […]
Following record price increases in March, prices for four of the seven of the steelmaking raw materials tracked in this SMU analysis increased over the last 30 days. Through late April, pig iron prices increased 18% compared to one month prior, zinc prices rose 15%, busheling scrap prices increased 11%, and iron ore prices were up […]
Today we are sharing the full proposed agenda for the 2022 SMU Steel Summit Conference. As you will note there are a few programs where we are in negotiations with speakers or working on making sure the program is fresh for those who have attended our conference in the past. There are several themes we […]
Sheet prices rose modestly across this board this week, following slight declines seen last week. Steel Market Update’s check of the market puts benchmark hot-rolled coil prices at $1,480 per ton, up $30 per ton from one week prior. Coated and plate products saw increases as well, moving upwards between $10 and $40 per ton […]
Today we are sharing the full proposed agenda for the 2022 SMU Steel Summit Conference. As you will note there are a few programs where we are in negotiations with speakers or working on making sure the program is fresh for those who have attended our conference in the past. There are several themes we […]
Steel mill lead times appear to be steadying this week for four of the five sheet and plate products we track. They are also rising at a slower rate compared to the big gains seen in March. Steel Market Update’s latest check of the market indicates sheet lead times increased by an average of 0.2 weeks […]
Sheet prices were flat or fell modestly across this board this week for the first time since late February. Case in point: SMU’s average hot-rolled coil price slipped to $1,450 per ton, down $10 per ton from last week. The decline, while negligible in absolute terms, marks the first time HRC prices have not risen […]
Steel Market Update has been working on the agenda for the 2022 SMU Steel Summit Conference, which will be held in Atlanta on August 22-24. This year’s conference will address many of the issues affecting the flat-rolled and plate steel markets. Over the next few issues, we will roll out our conference program, many of […]
Steel Market Update has been working on the agenda for the 2022 SMU Steel Summit Conference, which will be held in Atlanta on August 22-24. This year’s conference will address many of the issues affecting the flat-rolled and plate steel markets. Over the next few issues, we will roll out our conference program, many of […]
Steel prices rose again this week on continued strong demand (outside of automotive). But hot-rolled coil price gains moderated for the second week in a row. SMU’s benchmark hot-rolled coil price rose to $1,460 per ton this week, up $25 per ton from $1,435 per ton last week and marking the smallest week-over-week gain since […]