Nearly half of the steel buyers responding to this week’s SMU market survey say domestic mills are showing increased willingness to negotiate pricing on new spot orders. This marks a significant shift from the firmer stance mills held in prior weeks.
Steel prices slipped again this week, with all five of SMU’s sheet and plate indices trending lower for the second week in a row.
Nucor lowered its weekly consumer spot price (CSP) for hot-rolled (HR) coil this week after holding prices steady for the past two weeks.
The price spread between hot-rolled coil (HRC) and prime scrap narrowed in April after widening since January, according to SMU’s most recent pricing data.
Domestic hot-rolled (HR) coil prices declined this week for a third straight week. Most offshore markets bucked the trend and gained ground. Uncertainty in the US market around tariffs, especially after “Liberation Day,” caused US prices to slip as buyers moved to the sidelines. It’s unclear to date whether the 90-day pause on the more […]
This week is the first time all of our indices have moved lower in unison since July 2024.
Domestic hot-rolled (HR) coil prices declined this week, a trend again reflected in most offshore markets. Despite similarities, the shifting tariff landscape has made for a wild ride in Q1.
Sheet and plate prices were mixed on Tuesday as the market took a wait-and-see approach to the Trump administration’s “Liberation Day” tariffs.
The constant flow of information we all receive can be a little overwhelming, but SMU is here to help with a snapshot of the week.
The threat of tariffs over the past two months has been a springboard for US prices. But the Section 232 reinstatement on March 13 narrowed the domestic premium over imports on a landed basis.
SMU's steel price indices moved in differing directions this week but remained largely stable as cautious buyers await clarity on pending steel tariffs and trade cases.
After eight weeks of double-digit price increases on hot-rolled (HR) coil, Nucor slowed the price rise this week with an increase of $5 per short ton.
After a multi-week increase, buyers responding to our market survey this week reported that lead times are stabilizing or marginally declining for each of the sheet and plate products we track.
Steel prices were stable to higher this week for the second consecutive week across the sheet and plate products tracked by SMU. Three of our price indices increased from the previous week, while two held firm.
The HRC vs. prime scrap spread increased again in March.
Flat rolled = 58.6 shipping days of supply Plate = 49 shipping days of supply Flat rolled With the rapid run up in prices, US service centers saw a significant pickup in orders that caused flat-rolled steel supply to decline in February. At the end of February, service centers carried 58.6 shipping days of flat-rolled […]
This marks the eighth week of increases
Nucor has increased its weekly HR coil spot price for seven consecutive weeks.
Domestic hot-rolled (HR) coil prices moved higher this week, widely outpacing increases seen in offshore markets.
Mexico has launched an anti-dumping investigation into imports of hot-rolled steel from China and Vietnam.
Steel prices climbed across the board this week, with every steel product tracked by SMU rising to multi-month highs.
Nucor has increased its list price for hot-rolled (HR) coil to $900 per short ton (st), according to a letter to customers on Monday. The Charlotte, N.C.-based steelmaker’s list price for HR is up $40/st from $860/st last week and up $125/st from $775/st a month ago, according to SMU’s mill price announcement calendar. The […]
Hot-rolled (HR) coil prices continued to rally in the US this week, quickly outpacing price gains seen abroad. The result: US hot band prices have grown widely more expensive than imports on a landed basis. The premium US HR tags carry over HR prices abroad now stands at a 14-month high. SMU’s average domestic HR […]
As of Monday, Feb. 24, the steelmaker's list price for HR stood at $860 per short ton (st), up $40/st from last week. The company has increased HR prices by $110/st over the past four weeks, according to SMU's mill price announcement calendar.
Hot-rolled (HR) coil prices leaped in the US this week, while tags abroad saw more measured gains. The result: US hot band prices have become even more expensive than imports on a landed basis. In fact, the premium US HR prices carry over HR prices abroad now stands at a 12-month high.
Cleveland-Cliffs said it will open its April order book for spot material at $900 per short ton (st). The Cleveland-based steelmaker said the increase was necessary because of “rapidly changing market conditions” in a letter to customers dated Friday, Feb. 21.
Mills’ flexibility on price for spot orders has taken a nosedive to levels not seen since the end of March 2023.
NLMK USA has opened its April order book at new, higher base prices for steel sheet, according to market participants. The steelmaker is seeking at least $900 per short ton (st) for hot-rolled (HR) coil and at least $1,100/st for cold-rolled and coated products, they said.
U.S. Steel has increased prices for flat-rolled steel by at least $50 per short ton (st), according to market participants. The Pittsburgh-based steelmaker now seeks a minimum of $850/st for hot-rolled (HR) coil. And it seeks at least $1,050/st for cold-rolled and coated base prices, they said.
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.