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.
Carbon steel plate market participants suspect that this week’s modestly softer prices are the result of quietly negotiated prices between plate purchasers and mills.
Steel buyers report steady lead times for sheet and plate products, a soft-sideways trend we've seen since May.
The majority of steel buyers responding to our market survey this week continue to say that mills are negotiable on new spot order prices. Negotiation rates have remained high since May.
Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.
In July, US service centers’ flat-rolled steel supply increased month on month, following the seasonal summer trend of inventory build with slowing shipments.
All five of SMU's steel sheet and plate price indices declined this week, falling to lows last seen in February.
Sources in the carbon and alloy steel plate market said they are less discouraged by market uncertainty resulting from tariffs or foreign relations, but are instead, eager to see disruption to the flat pricing environment.
The volume of steel shipped outside of the country in June fell 3% from the prior month to 618,000 short tons (st), according to recently released data from the US Department of Commerce.
Following January’s pre-tariff surge, imports have remained low since February compared to post-pandemic volumes
SMU’s Monthly Review provides a summary of our key steel market metrics for the previous month, with the latest data updated through July 31.
Mill production times for sheet products are holding just above multi-year lows, while plate lead times remain elevated.
Most steel buyers continue to report that mills are open to negotiating spot prices. Negotiation rates have remained high for most of the past three months.
Sheet and plate prices were either flat or modestly lower this week on softer demand and increasing domestic capacity.
Nucor Plate Group has informed customers that August spot prices will remain flat.
Atlas Holdings has completed its acquisition of Evraz North America (Evraz NA) and its subsidiaries.
Canada’s Algoma Steel saw a sharp loss in the second quarter amid a continued challenging market environment and “tariff uncertainties.”
Resilient demand across its steel product lines, combined with the continued ramp-up of key expansion projects, drove Nucor’s improved financial results and record-setting performance in the second quarter. That’s according to company executives speaking on an earnings conference call on Tuesday.
Sheet prices slipped again this week amid discounting from certain mills and ongoing concerns about demand.
Steel mill lead times on sheet products contracted across the board this week compared to early July, while plate production times moderately extended, according to steel buyers responding to this week’s market survey.
More than nine out of every ten steel buyers polled by SMU this week reported that mills are negotiable on new order prices. Negotiation rates have increased in each of our last three surveys following the early-June lull, reaching a record high this week.
Steel prices continued to decline this week across all of the sheet and plate products tracked by SMU, pressured by short lead times and the typical summer slowdown.
Section 232 tariffs have doubled to 50%. Reciprocal tariffs rates remain uncertain. But while prices have softened on even softer sentiment, tariffs have firmed the floor.
Flat rolled = 55.8 shipping days of supply Plate = 59.4 shipping days of supply Flat rolled US service centers’ flat-rolled steel supply edged down in June with a modest boost to shipments month on month (m/m). At the end of June, US service centers carried 55.8 shipping days of flat roll supply, down from […]
Algoma Steel expects a narrower sequential loss in the second quarter, but the company continues to be impacted by the US tariff situation.
US sheet and plate prices were flat or lower as reduced import volumes were offset by so-so demand.
US steel exports rose 10% from April to May but remained low compared to recent years. This came just one month after exports fell to the lowest level recorded in nearly five years.
Mill lead times for sheet products were steady to slightly longer this week compared to our late June market check, while plate lead times contracted, according to steel buyers responding to this week’s market survey.
Domestic mills are more open to talk price on new orders than they were in June, according to most steel buyers responding to our market survey this week. Negotiation rates have recovered from the early-June lull and are now just a few percentage points shy of the high levels seen late last year.
Sheet and plate prices slipped this week on so-so demand, sideways scrap prices, and chatter that certain mills were making unsolicited calls looking for tons.