Tag: Hot Rolled

Sheet prices continued to grind higher this week on factors familiar to most steel market participants: extremely limited spot availability, long lead times, low inventories, and firm demand.

Nucor said its consumer spot price for hot-rolled coil will be $1,135 per short ton for the week of July 20.

SMU’s average price for domestic HR remained flat, holding firm for the past three weeks. In offshore markets last week, prices mainly moved higher.

Monthly steel imports rose back above 2 million short tons (st) in May and June, further recovering from the historic lows seen late last year, according to recent Commerce data.

The spread between domestic hot-rolled coil and prime scrap prices widened further in July, a trend that started back in September. It’s at its widest level since April 2022.

Hot-rolled and cold-rolled prices held steady again this week while prices for coated products and plate continued to tick upward.

SMU’s July 10 Flat-Rolled Steel Survey results paint a picture of a steel market being squeezed from every direction. Tariffs are holding prices up and giving mills a clear advantage, while manufacturers and traders say the policy is pushing their costs higher.

Nucor said its consumer spot price (CSP) for hot-rolled coil will be $1,135 per short ton (st) for the week of July 13, up $5/st from last week.

Steel mill lead times for flat-rolled steel this week remained extended at historical highs. Plate production times crept out further, while hot-rolled and cold-rolled (HR/CR) coil saw minor contractions.

The majority of steel buyers we polled this week reported that mills are holding firm on new order spot prices.

SMU’s average price for domestic HR was unchanged vs. last week. In offshore markets last week, while prices diverged, the dynamic between stateside and imported product varied little.

Market reaction to Nucor’s move was mixed. Some sources said a flat CSP reflected concerns that further increases in US HR prices could attract more import competition. Others expressed frustration. Their view: CSP has kept a lid on prices, something that shouldn’t happen when many buyers remain more concerned about availability than price.

Imports from Europe are at parity with domestic hot rolled, while Southeast Asian products remain at a considerable discount. The result comes because a stateside rally coincides with faltering offshore prices.

Hot-rolled coil spot market participants told SMU they see no evidence of the market softening in the near term.  

Hot-rolled (HR) coil and plate prices continued to tick higher even as cold-rolled (CR) and coated prices came in unchanged, according to SMU’s latest check of the market.

Nucor held its consumer spot price (CSP) for hot-rolled (HR) coil at $1,130 per short ton (st) for the week of June 29. The sideways move is the first of its kind since Jan. 21.

Steel mill lead times remained extended this week on both sheet and plate products. Current production times three to four weeks longer than levels seen last summer.

Steel buyers negotiation rates remain at or near historic lows across most sheet and plate products.

SMU’s average price for domestic HR was $1,145 per short ton (st) this week, $15/st higher week over week (w/w). In offshore markets last week, prices moved down, largely maintaining a trend seen since late April.

US sheet prices continue to move higher on extremely limited spot availability, solid demand, and extended lead times.

Nucor announced on Monday, June 22, that its consumer spot price (CSP) for hot-rolled coil will be $1,130 per short ton for the week, up $5/st from last week. 

SMU’s average price for domestic HR was $1,130 per short ton (st) this week, $15/st higher week over week (w/w). In offshore markets last week, prices were largely down, following a trend seen since late April.

The spread between domestic hot-rolled coil and prime scrap prices continued to widen in June, a trend that began in September.

Nucor announced on Monday, June 15, that its consumer spot price (CSP) for hot-rolled coil will be $1,125 per short ton (st) for the week, up $10/st from last week.

Steel mill lead times extended this week on both sheet and plate products, now at multi-year highs.

Some domestic spot market buyers say they're seeking imported hot-rolled (HR) coils.

This week we saw continued low negotiation rates across all products, with cold rolled and plate the least negotiable and galvanized the most.

The price gap between US hot-rolled coil (HR) and landed offshore product continues to narrow, as stateside prices are now, on average, carrying a premium over imports. Domestic tags are still outpacing imported hot band as pricing dynamics diverge.

All five of SMU’s price indices increased this week to new multi-year highs. Prices have increased by 20-25% since the beginning of the year.

Longtime steel veteran Robert Simon is excited about the transformation taking place at JSW Steel USA. And he has a rosy outlook for the rest of the year.