Just over half of the steel buyers who responded to our market survey this week reported that domestic mills are willing to talk price on new spot orders. Mills have begun to hold a firmer stance on prices over our last two surveys.
SMU's sheet and plate steel prices moved higher in unison this week.
JSW Steel USA aims to increase steel plate prices by at least $40/short ton.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.
Most sheet prices inched up again this week following mill efforts to set a floor under tags and to increase them from there.
Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet and plate products than they were in recent weeks.
Steel mill lead times marginally extended for both sheet and plate products this week, according to responses from SMU’s latest market survey.
Algoma Steel’s net loss more than quadrupled in the third quarter on trade woes and its EAF transition. Separately, the company announced a change in leadership, as CEO Michael Garcia will retire at the end of the year.
Participants in the domestic steel plate market said the plate market never accepted mill-issued spot price increases.
Sheet steel indices increased across the board this week, while plate prices held steady. All five of SMU’s price indices are higher than they were two weeks ago, and all but one are above levels recorded four weeks ago.
Nucor entered the fourth quarter with clear forward momentum: stronger-than-expected results, solid sheet and plate demand, and construction progress on a major new mill that should add capacity next year.
Demand for plate on the spot market remains soft by comparison to years past. However, this week regional demand variations grew more pronounced.
The Americas segment of Swedish steelmaker SSAB delivered a stable third quarter, but with weaker shipments and continuing cautious demand. Plate prices held, but tariffs, slowing end-user demand, and...
Our average HR coil price increased $5/short ton from last week, marking a second consecutive week of modest gains. Market participants generally attributed the increase to...
We just wrapped up another Steel 101 workshop, easily the most hands-on industry workshop on steelmaking and market fundamentals.
Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.
Steel mill lead times ticked lower across most sheet and plate products this week, according to responses from SMU’s latest market check.
Mills are more willing to negotiate spot prices for both sheet and plate products, according to our latest market survey results.
September service center shipments and inventories report for sheet and plate
SMU’s HR price stands at $800/st on average, up $5/st from last week. The modest gain came as the low end of our range firmed, and despite the high end of our range declining slightly.
SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).
Some sources also speculated that plate could see further price increases thanks to modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.
Participants in the hot-rolled sheet market expressed frustration with the continuing lack of demand this week.
Sheet and plate lead times saw minor shifts this week, according to SMU’s latest market survey. Sheet times have inched up over the last month but remain within days of multi-year lows, as they have since May. Plate lead times have bobbed within a tight range for months, hovering roughly a week longer than this time last year.
Steel buyers say mills remain slightly more willing to negotiate spot prices for sheet and plate products than in mid-September, according to our latest market survey.
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."
We moved our pricing momentum indicators from “lower” to “neutral” for all sheet products this week. For those keeping score, we had been at “lower” for six weeks. And I know some of you think we should have been there for even longer.
Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.