Tag: Hot-Rolled Coil

Steel Market Update’s Steel Demand Index has moved into growth territory after seeing steady improvement since mid-September, according to our latest survey data.

Spot prices for steel sheet shot upward again this week on the heels of steep price increases announced by domestic mills last week. SMU’s hot-rolled coil price rose to $940 per ton ($47 per cwt) on average, up $75 per ton from last week and up nearly $300 per ton from a 2023 low of […]

Cleveland-Cliffs announced it would seek a minimum base price of $1,000 per ton ($50 per cwt) for hot-rolled coil (HRC) on Nov. 7. Nucor said a day later that it was aiming for $950 per ton. Why didn’t Nucor follow Cliffs up to $1,000 ton? I think there might be some possible answers in our […]

There seems to be a consensus that US sheet prices have nowhere to go but up in the short term, in part because offshore material ordered now won’t arrive until late March or even April.

US steel imports continue to arrive at a steady pace, as total import licenses in October were about even with September’s import levels.

The percentage of steel buyers saying mills were willing to negotiate spot pricing fell for hot rolled this week, while plate's negotiation rate shot up, according to SMU's most recent survey data.

Lead times for most sheet products were pushed out even further this week as domestic prices continue to rise. Plate lead times, meanwhile, contracted on falling prices and waning demand.

Several past columns in SMU have included comments about the futures forward curve, using terms like contango and backwardation

Hot-rolled coil (HRC) tags continue to rally in the US, broadening the price disparity between domestic and imported offshore product.

Canadian flat-rolled steelmaker Stelco recorded a drop in third quarter profits on lower steel prices and sales volumes. The Hamilton, Ontario-based company predicted that volumes would be lower still in the fourth quarter. But it also said that financial results would improve next year on higher prices and longer lead times.

Spot prices for steel sheet continued to shoot upward this week, which brought yet another round of price hikes.

Cleveland-Cliffs Inc. said on Tuesday that it had raised minimum base prices for hot-rolled coil (HRC) to $1,000 per ton ($50 per cwt).

The US Department of Commerce’s International Trade Administration (ITA) is updating import duties on hot-rolled steel flat products from Japan and South Korea.

SMU gives an overview of the steel market and economic indicators for October.

US hot-rolled coil (HRC) tags moved higher again this week, widening the gap in pricing between imported offshore product.

Nucor’s plate price cut notice caught many off guard this week, especially after the company had maintained its pricing position in late September.

ArcelorMittal joins U.S. Steel and Cleveland-Cliffs, pushing sheet prices higher, according to an internal commercial memo on Oct. 31.  

Sheet prices are getting back into very lofty territory. That’s assuming you can find spot tons available for the balance of 2023 – and some of you say you can’t.

Sheet prices surged this week on limited spot tonnage and on the heels of steep price increases announced by domestic mills.

Cleveland-Cliffs said Tuesday that it would increase spot market base prices for carbon hot-rolled, cold-rolled, and coated steel sheet.

The first rule of Steel 101 is that you’re free to talk about Steel 101. We actually encourage it. Last week on Tuesday and Wednesday, SMU’s Steel 101 was held in Mt. Pleasant, S.C.

U.S. Steel’s third-quarter earnings call with analysts on Friday, Oct. 27, was packed full of insight into the Pittsburgh-based steelmaker’s current state of affairs.

I wrote on Sunday that it could be a busy week for steel. It has been.

These were the headlines hot off the press Wednesday night:

Mill lead times for flat-rolled products pushed out this week once again across the board.

Steel buyers said mills are less willing to budge on spot pricing for sheet products, but plate bucked this trend, according to SMU’s most recent survey data.

U.S. Steel on Thursday announced that it would increase spot prices for steel sheet by another $100 per ton.

Taylor Swift’s “Shake It Off” could be the theme song for the sheet market over the last month. A UAW strike? Shake it off. The lowest ABI since December 2020? Shake it off. A potentially widening conflict in the Middle East? Shake it off. Sheet prices have been rising since late September, and hot-rolled coil […]

Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.

ArcelorMittal and Stelco joined last week’s move by domestic mills to push sheet prices higher.