Tag: Hot-Rolled Coil

The price spread between prime scrap and hot-rolled coil widened marginally again in July.

Mill lead times for sheet products were steady to slightly longer this week compared to our late June market check, while plate lead times contracted, according to steel buyers responding to this week’s market survey.

Hot-rolled (HR) coil prices in the US ticked down this week but have fluctuated little over the past month. Stateside tags continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.

Domestic mills are more open to talk price on new orders than they were in June, according to most steel buyers responding to our market survey this week. Negotiation rates have recovered from the early-June lull and are now just a few percentage points shy of the high levels seen late last year.

Sheet and plate prices slipped this week on so-so demand, sideways scrap prices, and chatter that certain mills were making unsolicited calls looking for tons.

Nucor is keeping its list price for spot hot-rolled coil unchanged after last week’s shortened holiday week.

I’m not sure how many different ways I can write that it’s been a quiet market ahead of Independence Day. There are variations on that theme. I’ve heard everything from the ominous “eerily quiet” to "getting better" and even the occasional “blissfully unaware” (because I’m enjoying my vacation).

We can interpret that managed money still has expectations of price strength while physical participants are running closer to a balance on a net basis.

Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.

Cliffs has idled facilities in Riverdale, Ill., and Conshohocken and Steelton, Pa.

Nucor has raised its weekly spot price on hot-rolled coil by $10 per short ton after holding it steady last week.

Following the uptick seen two weeks ago, lead times eased this week for all four sheet products tracked by SMU, while plate lead times held steady, according to this week’s market survey.

Steel market participants contend that buyers will remain in “wait-and-see" mode until some market stability is restored. 

The majority of steel buyers responding to our latest market survey say domestic mills are more willing to talk price on sheet and plate products than they were earlier this month. Sheet negotiation rates rebounded across the board compared to early June, while our plate negotiation rate hit a full 100%.

As of June 24, the premium galvanized coil carries over hot-rolled coil is just $5 per short ton (st) above the lowest level recorded in almost two years.

Prices for steel sheet slipped this week despite Section 232 tariffs remaining at 50% and a US strike on nuclear facilities in Iran over the weekend.

Nucor maintained its weekly list price for hot-rolled (HR) coil this week, following two consecutive increases.

Not many people in the North American steel market had direct US involvement in another Middle East conflict on their bingo card. Prices weren't expected to shoot higher unless something unexpected happened. That unexpected something has now happened. And there is talk of oil at $100 per barrel. What does that mean for steel?

Several steel market sources say they were blindsided when mills increased spot prices for hot-rolled coils this week.

US hot-rolled coil prices crept up again this week but still trail imports from Europe.

Steel prices inched higher again this week across most of the sheet and plate products tracked by SMU.

Flat rolled = 57.1 shipping days of supply Plate = 55.7 shipping days of supply Flat rolled US service centers reined in flat roll supply in May, coinciding with declining shipments. At the end of May, service centers carried 57.1 shipping days of supply, according to adjusted SMU data. That’s down slightly from 57.6 shipping […]

All five of the averages for sheet and plate mill lead times tracked by SMU extended moderately this week, according to buyers responding to our latest market survey.

Domestic hot-rolled (HR) coil prices edged up marginally again this week, while offshore prices ticked down.

The price spread between HRC and prime scrap widened in June.

Even before the news about Mexico, I didn’t want to overstate the magnitude of the change in momentum. As far as we could tell, there hadn’t been a frenzy of new ordering following President Trump’s announcement of 50% Section 232 tariffs. But higher tariffs had unquestionably raised prices for imports, which typically provide the floor for domestic pricing. We’d heard, for example, that prices below $800 per short ton for hot-rolled (HR) coil were gone from the domestic market – even for larger buyers.

Steel prices climbed for a second straight week across all five sheet and plate products tracked by SMU.

Subdued demand is causing importers to cancel hot-rolled (HR) coil orders and renegotiate the terms of shipments currently enroute to the US, importers say. An executive for a large overseas mill said customers might find it difficult to justify making imports buys after US President Donald Trump doubled the 25% Section 232 tariff on imported steel […]

The $20/short ton increase applies to all of the steelmaker’s sheet mills, including West Coast joint-venture subsidiary CSI.

Domestic hot-rolled coil prices edged up marginally this week, while offshore prices ticked down.