Tag: Hot-Rolled Coil

Did the price increase announced by Cleveland-Cliffs last week stick? Yes, at least partially.

Sheet prices rose this week on the heels of a price increase announced by Cleveland-Cliffs last week that was quietly followed by other mills.

Steel prices continued to decline last month – a trend we’ve seen repeated since mid-April.

Will the sheet price hike announced by Cleveland-Cliffs (and quietly followed by at least some mills) stick?

US plate prices have been relatively flat this year, especially when compared to sheet products. Case in point; SMU's plate prices stands at $1,455 per ton ($72.75 per cwt) on average, down 7% from a $1,560 per ton peak in April. Our HRC price is at $645 per ton, down 44% from an April peak of $1,160 per ton.

I didn’t see the Cleveland-Cliffs price increase coming on Wednesday. And I didn’t expect to see a target base price of $750 per ton ($37.50 per cwt) for hot-rolled coil. But I’ve since heard that other mills, even if they hadn’t publicly announced anything, had been quietly raising prices before Cliffs publicized its increase. Are […]

On Sept. 15, the UAW went on strike at three plants, one of each of the Big 3. On Sept. 22, the UAW expanded its strike to 38 more GM and Stellantis plants. Since Sept. 15, the HRC futures curve has rallied $60-75 in the November – February futures months. The reason why there has been this breakneck rally is because, uh, well, um. I have no idea. I am as shocked by it as perhaps you are, frankly.

While lead times for sheet again had mixed movements this week, those for plate collapsed, according to SMU’s most recent market survey.

The overall steel mill negotiation rate remained level this week vs. two weeks earlier, but plate’s rate fell by 15 percentage points, according to SMU’s most recent survey data.

US hot-rolled coil (HRC) prices were down again vs. offshore hot band this week. Domestic HRC lost more ground relative to imported product with US tags sinking at a faster rate than those overseas.

Cleveland-Cliffs is increasing its sheet tags, setting a new base price for hot-rolled coil, effective immediately, the company said in a press release on Wednesday, Sept. 27.

Hot-rolled coil prices were down again this week, continuing a streak of week-over-week (WoW) declines that began in early/mid-July.

The drop in imports continued for the second straight month, in line with license applications and falling lower year on year (YoY).

US hot-rolled coil (HRC) prices fell further relative to imported product this week. Domestic hot band remains cheaper than offshore HRC as US tags continue to sink at a sharper rate than those overseas.

Sheet prices fell again this week, this time not on fears of a United Auto Workers (UAW) union strike but on the actual thing.

Sheet prices slipped again this week on news of the United Auto Workers (UAW) strike and continued caution among some consumers.

Steel Market Update’s Steel Demand Index remains in contraction territory despite marginal improvement, according to our latest survey data.

The spread between hot-rolled coil (HRC) and galvanized sheet base prices widened throughout the summer as hot rolled prices declined faster than those of galvanized.

The spread between hot-rolled coil (HRC) and prime scrap prices continued to narrow this month, according to Steel Market Update’s most recent pricing data.

Steel mill lead times were basically flat again this week compared to our previous market check, with production times shrinking slightly for hot rolled and cold rolled, and extending for galvanized, Galvalume, and plate.

US hot-rolled coil (HRC) continues to lose ground against imported hot band. Domestic product remains a better deal than offshore HRC as US tags sink further, according to SMU’s latest foreign vs. domestic price analysis.

Hot-rolled coil (HRC) futures prices fell after our last column published Aug. 17, putting in recent lows around $25-$30 per ton lower than the week prior

Sheet prices fell across the board ahead of what many market participants predict will be a strike by the United Auto Workers (UAW) later this week.

Sheet prices have fallen to their lowest point of the year - just below $700 per ton ($35 per cwt) when it comes to hot-rolled coil (HRC).

Steel prices kept falling throughout last month. Hot-rolled coil (HRC) prices ended August at $725 per ton ($36.25 per cwt) on average, having fallen by $105 per ton during the month.

The more of you I talk to, the more the question seems to be not whether the United Auto Workers (UAW) will strike later this week but instead for how long. You’re also asking whether the UAW will target one union-represented automaker or whether it might take the unprecedented step of walking out at Ford, […]

We’re just a week away from a potential United Auto Workers (UAW) strike against one, or potentially all three, union-represented automakers. The latest turn of the screw: UAW President Shawn Fain said an offer from Detroit-based General Motors was “insulting.”

US imports look to have fallen to their lowest monthly level so far this year, based on August import license data compiled by the US Department of Commerce.

US hot-rolled coil (HRC) is now a better deal than imported hot band, something we haven't seen since early February, according to SMU’s latest foreign vs. domestic price analysis.

Steel Market Update’s Demand Index is still in contracting territory and moving lower, where it has been for the better part of the past four-plus months, according to the latest survey data.