Flat rolled = 66.3 shipping days of supply Plate = 57.0 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers grew further in August. The dynamic resulted from some Q3 restocking efforts at a perceived market bottom, met with shorter lead times and weaker demand. At the end of August, service […]
The US plate market finds itself in unfamiliar territory, well maybe unfamiliar territory for this side of the post-Covid “normal,” that is.
Steel mill lead times shortened for both sheet and plate products this week, according to buyers responding to our latest market survey.
Negotiation rates have edged lower from our previous market check, a downward trend witnesses since July.
SMU’s steel price indices showed mixed signals for a second consecutive week. Our hot rolled, cold rolled, and plate price indices inched lower from last week, as the galvanized index held steady and Galvalume's ticked higher.
Nucor intends to keep plate prices unchanged with the opening of its October order book, according to a letter to customers dated Wednesday, Sept. 4. The Charlotte, N.C.-based steelmaker said it would maintain prices set in its July 1, 2024, price letter.
SSAB plans to spend $12 million to boost production capacity at its electric-arc furnace (EAF) plate mill in Mobile, Ala. The Sweden-based steelmaker will do that by expanding the existing furnace there. Shot blast equipment will also be upgraded. The expanded capacity is expected to come online late next year. The mill currently has an […]
SMU indices moved higher on cold rolled products this week, while galvanized prices were flat. Our indices for plate, hot rolled, and Galvalume all edged lower.
SMU’s Monthly Review provides a summary of important steel market metrics for the previous month. Our August report includes data updated through August 30th.
Current steel mill lead time averages are a few days longer than levels seen one month prior, but remain near historical lows for both sheet and plate products.
Steel buyers found mills slightly more willing to negotiate spot prices this week, according to our most recent survey data. Though this negotiation rate has ticked up vs. our previous market check, overall rates have been trending downward since July’s highs.
Three out of four of our market survey respondents report that steel mills are open to negotiating new order prices this week, a slight decline compared to our previous market check.
Steel buyers continue to report short mill lead times for both sheet and plate products, according to SMU's latest canvass of the market. Lead times for hot-rolled and plate products marginally increased from our late July survey, likely due to limited restocking in anticipation of upcoming mill outages for scheduled maintenance.
Despite this summer’s “challenging near-term pricing and uncertain macroeconomic conditions,” Algoma Steel CEO Michael Garcia said the company is focusing on what it can control: operating safely, providing exceptional customer service, and successfully executing its capital programs.
Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact info@steelmarketupdate.com. Flat rolled = 64.2 shipping days of supply Plate = 60.9 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers grew in July with restocking as […]
SMU’s sheet prices increased across the board this week, marking the third consecutive week of rising prices, while plate prices held stable.
SMU’s sheet prices rose by an average of $10 per short ton (st) this week on most products, the second consecutive week of recovering prices. Aside from the marginal uptick seen last week, this is the first instance of increasing sheet prices since the first week of April.
Nucor intends to keep plate prices unchanged with the opening of its September order book, according to a letter to customers dated Tuesday, Aug. 6.
The wind energy sector continues to be a key feature of our forecasts for steel plate demand. As overall demand in China slows, it will assume a greater importance in shaping future global trends.
SMU’s Monthly Review articles summarize important steel market metrics for the prior month. Our July report contains figures updated through July 31.
Buyers continue to report very short mill lead times on sheet and plate products, according to our latest market canvass of steel service center and manufacturer executives
Steel buyers of sheet products say mills are still flexible on spot pricing this week, though less so than two weeks prior, according to our most recent survey data.
What a difference a week makes! SMU has shifted its sheet momentum indicators from “lower” to “neutral”. And we’ll be on the lookout for evidence of higher prices in the weeks ahead.
SMU’s sheet price was largely flat this week, an unusual sight for the better part of the past four months. The same trend was seen for tandem products and plate as well.
Nucor has raised its consumer spot price (CSP) for hot-rolled (HR) coil to $675 per short ton (st), up $25/st from last week.
SMU has heard from some larger buyers who have stepped back into the market to buy at prices that, if not at a bottom, they assess to be close to one. Is it enough to stretch out lead times and send prices upward again? Or do we continue to scrape along the mid-$600s per short ton (st) as we have been doing for most of the last month?
Reliance Inc. said a faster-than-expected decline in carbon steel prices offset higher shipments in the second quarter.
Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.
SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]
On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.