Movements in lead times were mixed this week, with those for hot rolled and Galvalume falling back marginally, and those for cold rolled, galvanized, and plate extending slightly. We’re still waiting for a clear pattern to emerge with lead times, as they seem to have been bouncing around since June and generally trending down since […]
Steel buyers report that mills are willing to negotiate lower spot prices for the sheet products SMU surveys.
Movements in lead times were mixed this week, with those for hot rolled and Galvalume falling back marginally, and those for cold rolled, galvanized, and plate extending slightly.
Steel buyers report that mills are willing to negotiate lower spot prices for the sheet products SMU surveys. It’s a different story in plate, where buyers find mills less willing to negotiate lower, according to SMU’s most recent survey data. The percentage of respondents saying steel mills were willing to talk price on plate stood at 29% this […]
Sheet prices slipped by $20-25 per ton as hot-rolled coil (HRC) failed to break through the $900 per ton threshold some market participants had predicted it would. SMU’s average hot-rolled coil (HRC) price stands at $870 per ton ($43.50 per cwt), down $20 per ton from a week ago. Numbers at or around that figure […]
Editor’s note: 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 Lindsey Fox at lindsey@steelmarketupdate.com. Flat Rolled = 52.3 Shipping Days of Supply Plate = 58.1 Shipping Days of Supply Flat Rolled US service center flat-rolled steel supply edged up slightly in […]
On Steel Market Update’s most recent Community Chat, we caught up with Timna Tanners, managing director of Wolfe Research, to hear her latest take on the steel market.
US service center flat-rolled steel supply edged up slightly in June as daily shipments dropped to the lowest rate this year.
On Steel Market Update’s most recent Community Chat, we caught up with Timna Tanners, managing director of Wolfe Research, to hear her latest take on the steel market. Tanners chatted with SMU managing editor Michael Cowden about the myth of mill discipline within the sheet market. The market isn’t much more disciplined than a few […]
Sheet prices slipped by $20-25 per ton as hot-rolled coil (HRC) failed to break through the $900 per ton threshold some market participants had predicted it would.
Olympic Steel has made leadership changes relating to the company’s fabrication growth strategy. The Cleveland-based metals service center said in a press release Tuesday that Edward ‘Max’ Fitzgerald has joined the company in the newly created role of vice president – fabrication. Fitzgerald will focus on strengthening the company’s “fabrication-related commercial presence, facilitating operational standardization, and […]
Steel prices continued to erode in June, a trend that began halfway through April. Hot-rolled coil (HRC) prices ended June at $875 per ton (43.75 per cwt) on average, falling by $115 per ton throughout the month. The SMU Price Momentum Indicator for sheet products remained shifted to Neutral halfway through June, after turning Lower […]
Sheet prices inched up this week on less discounting from major mills and on expectations that activity could improve in the coming weeks as OEMs return to the market following widespread summer shutdowns in early July. SMU’s hot-rolled coil price stands at $890 per ton ($44.50 per cwt), up $10 per ton from last week […]
US steel exports spiked in May to the highest monthly level in nearly five years. Exports reached 914,018 net tons in May (Fig. 1), according to the latest figures from the US Department of Commerce. That’s 19% higher month-on-month and 15% higher year-on-year. Recall that exports in March neared a five-year high; May’s total was […]
US steel imports climbed in June to the highest monthly level over the past 12 months, based on June import license data compiled by the US Department of Commerce. Import license applications reached 2,803,597 net tons in June, according to Commerce’s license count as of July 5. This was a 20.7% spike from the month […]
Leeco Steel has acquired Texas plate processor Titan Steel. Titan Steel, based in Alvarado, Texas, specializes in plasma and oxy-fuel cutting and machining of steel plate. The acquisition will allow Leeco to produce parts that require precision machining and milling. The purchase closed on June 30. Terms of the deal were not disclosed. As of […]
Lead times were broadly stable this week, with sheet products rising modestly and plate unchanged from SMU’s market check two weeks ago. More meaningful movements in lead times should be seen in the coming weeks as buyers return to the market after the Fourth of July holiday. Should the mills’ recent sheet price hikes take […]
The overall mill negotiation rate dropped this week following the July 4th holiday, though plate bucked the trend, increasing by four percentage points, according to SMU’s most recent survey data. The percentage of respondents saying steel mills were willing to talk price on plate stood at 63% this week, up from 59% two weeks ago, while […]
Sheet prices were little changed this week amid typically slower activity around the Fourth of July. Market participants said that another round of sheet price hikes might come later this week or early next to shore up an initial round of price increases announced in mid-June. In the meantime, some of the heavy discounting that […]
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, and import offers. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your thoughts, too! Contact david@steelmarketupdate.com to be included in our […]
A round of price increases announced by domestic mills in mid-June appears to have stabilized pricing for hot-rolled coil for the time being. Meanwhile, rumors of another round of price hikes ping-ponged around the market on Tuesday, with sources predicting another wave of hikes sometime between this week and mid-July. SMU’s average HRC prices stands […]
In May’s preliminary count, total US steel imports came in below import licenses tallied for the month. At the same time, however, flat-rolled steel imports came in higher than licenses originally suggested, according to the latest data from the International Trade Administration’s (ITA’s) steel import monitor. SMU’s previous analysis of May import data showed 2,395,039 […]
With hot-rolled coil (HRC) prices falling faster than plate pricing, the price spread between the two flat-rolled products moved this week to its highest level since February. The $1,955-per-net-ton all-time high of average HRC prices was reached in September 2021. Prices then turned downward before jumping up again in March and April 2022, affected by […]
European sheet prices have declined sharply by €112-146 per metric ton ($110-144 per net ton) month-on-month (MoM), around 12-18% across all sheet products. In CRU’s latest assessment, German hot-rolled coil decreased by €125 MoM to €689 per metric ton ($680 per net ton), while Italian HR coil saw a drop of €146 to €657 per […]
Algoma Steel anticipates increasing its plate production in the third calendar quarter of this year. Phase two of the Canadian steelmaker’s plate mill modernization project continues, CEO Michael Garcia said on the company’s fiscal fourth-quarter of 2023 earnings call with analysts on Thursday, June 22. The second phase had initially been expected to be finished […]
The overall mill negotiation rate was steady this week, though plate was an outlier, jumping 16 percentage points, according to SMU’s most recent survey data. The percentage of respondents saying steel mills were willing to negotiate price on plate rose to 59% this week, up from 33% two weeks ago. Every two weeks, SMU asks […]
In SMU’s market check this week, lead times for sheet and plate pulled back to some of the shortest times seen in several months. To see lead times this short, we have to go back to March for plate, January for galvanized sheet, and December for hot-rolled, cold-rolled, and Galvalume sheet. With mills pushing for […]
Algoma Steel said its transition to electric-arc furnace (EAF) steelmaking would be delayed and over budget as it reported a loss in its fiscal fourth quarter. The Sault Ste. Marie, Ontario-based steelmaker said in a statement on Wednesday after markets closed that it estimated the project would exceed its original budget by Canadian $125 million to […]
The US Department of Commerce’s International Trade Administration (ITA) is updating the antidumping duties on carbon and alloy cut-to-length steel plate imported from Belgium. In an administrative review of the AD duties, the ITA is considering the one-year period ended April 30, 2022. In its preliminary ruling, the agency set the weighted-average dumping margin at […]
Flat Rolled = 51.4 Shipping Days of Supply Plate = 55.4 Shipping Days of Supply Flat Rolled US service center flat-rolled steel inventories were nearly flat month on month in May with shipments still strong. Service centers carried 51.4 shipping days of supply at the end of May, according to adjusted SMU data. This was […]