Tag: Hot-Rolled Coil

The US hot-rolled coil (HRC) market feels steadier as the 4th quarter begins - not strong, but no longer slipping either.

Tariffs are ultimately to blame for stagnant demand in the hot-rolled coil market, domestic market sources tell SMU.

The American Iron and Steel Institute reported a decline in the monthly shipments of US mills from July to August.

Participants in the hot-rolled sheet market expressed frustration with the continuing lack of demand this week. 

The price gap between stateside hot band and landed offshore product narrowed this week. Still, with the 50% Section 232 tariff, most imports remain much more expensive than domestic material.

Sheet and plate lead times saw minor shifts this week, according to SMU’s latest market survey. Sheet times have inched up over the last month but remain within days of multi-year lows, as they have since May. Plate lead times have bobbed within a tight range for months, hovering roughly a week longer than this time last year.

Steel buyers say mills remain slightly more willing to negotiate spot prices for sheet and plate products than in mid-September, according to our latest market survey.

Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Sept. 29.

SMU’s average price for domestic hot-rolled (HR) coil held at $785 per short ton (st) this week, unchanged week on week (w/w). A similar dynamic was seen in offshore markets last week as well.

Canadian flat-rolled steelmaker Algoma Steel is reconsidering its presence in the US market after the doubling of US Section 232 tariffs on imported steel to 50%, a company spokeswoman said.

Sheet and plate prices were flat or lower this week as less discounting from domestic mills was offset by few signs of an anticipated rebound in demand.

With only a modest decline in US prices, HR imports, on a landed basis, remain much more expensive than domestic hot band.

Sheet times ticked higher but remain within days of multi-year lows, territory they have been in since May. Plate lead times have shifted lower in the past month but remain about a week longer than they were at this time last year.

The premium galvanized coil carries over hot-rolled coil (HRC) coil has marginally widened in recent months. As of Sept. 16, the spread between these two products reached a three-month high of $175 per short ton (st), though it is still low by historical standards.

Hyundai has reaffirmed its commitment to build a steel plant in Louisiana following a US government immigration raid at its battery facility in Georgia.

SMU’s price ranges were mixed again this week as the market continues to seek a floor amid industry hopes for a Q4 rebound.

Nucor held its hot-rolled coil list price flat again this week, according to its Monday, Sept. 15 consumer spot price (CSP) notice.

Domestic hot-rolled (HR) coil prices ticked down this week after holding flat since mid-August. Offshore prices largely all moved higher week over week (w/w), widening the margin between stateside and foreign product.

Participants in the hot-rolled steel sheet market expect the market to remain subdued through the end of the year. 

The price spread between prime scrap and hot-rolled coil (HRC) narrowed by a hair this month, according to SMU’s most recent pricing data.

US steel imports declined for the second consecutive month in July, according to recently finalized US Commerce Department data.

Nucor kept hot-rolled (HR) coil prices unchanged this week, according to its latest consumer spot price (CSP) notice on Sept. 8.    

I’ve been getting some calls lately from some of you who want to kick around ideas on where prices might bottom and when.

Sheet and plate lead times held steady yet again this week, according to steel buyers responding to our latest market survey, a trend in place since May.

The US government determined this week that hot-rolled steel imports from a handful of countries continue to threaten the domestic steel industry.

The majority of steel buyers responding to this week’s market survey continue to report that mills are open to negotiating spot prices on sheet and plate products.

Nucor’s Dan Needham views the steelmaker’s flexibility and diversification as key to pivoting when economic conditions require.

Steel prices remained largely unchanged this week, staying at or near lows last seen in February. All five sheet and plate products tracked by SMU moved by no more than $5 per short ton (st) from the previous week.

Nucor is attempting to halt the decline in hot-rolled coil prices with the announcement of a $10-per-short-ton increase in its weekly consumer spot price on Monday.

Steel buyers report steady lead times for sheet and plate products, a soft-sideways trend we've seen since May.