Nearly half of the steel buyers responding to this week’s SMU market survey say domestic mills are showing increased willingness to negotiate pricing on new spot orders. This marks a significant shift from the firmer stance mills held in prior weeks.
Steel prices slipped again this week, with all five of SMU’s sheet and plate indices trending lower for the second week in a row.
Steel service center shipments and inventories report through March 2024.
The volume of steel exported from the US declined in February, reversing January’s surge, according to the latest US Department of Commerce figures. This comes just two months after export levels had fallen to a two-year low.
This week is the first time all of our indices have moved lower in unison since July 2024.
US steel imports returned to normal levels in February after climbing to a near three-year high in January, according to finalized trade data published by the US Commerce Department. March license data suggests imports have remained within this normal range.
Four out of every five steel buyers who responded to our latest market survey say domestic mills are unwilling to negotiate on new order spot pricing. Mills have shown little flexibility on pricing for nearly two months.
Sheet and plate prices were mixed on Tuesday as the market took a wait-and-see approach to the Trump administration’s “Liberation Day” tariffs.
SMU’s Monthly Review provides a summary of our key steel market metrics for the previous month, with the latest data updated through March 31.
Nucor aims to increase prices for steel plate by $40 per short ton (st) with the opening of its May order book. The Charlotte, N.C.-based steelmaker said the increase was effective with new orders received on Friday, March 28, in a letter to customers dated the same day. The company said the price hike applied […]
SMU's steel price indices moved in differing directions this week but remained largely stable as cautious buyers await clarity on pending steel tariffs and trade cases.
SSAB Americas aims to increase plate prices by at least $60 per short ton (st) ahead of opening their May order book.
After a multi-week increase, buyers responding to our market survey this week reported that lead times are stabilizing or marginally declining for each of the sheet and plate products we track.
The majority of the steel buyers responding to our latest market survey continue to report that domestic mills remain firm on pricing, showing little willingness to talk price on new spot orders this week.
Steel prices were stable to higher this week for the second consecutive week across the sheet and plate products tracked by SMU. Three of our price indices increased from the previous week, while two held firm.
Flat rolled = 58.6 shipping days of supply Plate = 49 shipping days of supply Flat rolled With the rapid run up in prices, US service centers saw a significant pickup in orders that caused flat-rolled steel supply to decline in February. At the end of February, service centers carried 58.6 shipping days of flat-rolled […]
Employees at Evraz North America, a subsidiary of Russia's Evraz plc, reportedly falsified quality control test results on armored plate for military vehicles. Evraz NA denies the claims.
Buyers responding to our latest market survey reported longer lead times this week on all of the sheet and plate products SMU tracks.
The majority of the steel buyers responding to our latest market survey reported that domestic mills are not open to negotiating prices on new orders this week.
Mexico has launched an anti-dumping investigation into imports of hot-rolled steel from China and Vietnam.
Steel prices climbed across the board this week, with every steel product tracked by SMU rising to multi-month highs.
SMU’s Monthly Review provides a summary of key SMU steel market metrics for the previous month, with the latest data updated through February 28th.
US plate prices have moved up at a sharp clip over the past three weeks. The gains come on the heels of a unified mill pricing blitz, bolstered by the threat of looming tariffs and the expectation of sharply higher scrap prices. Prices hit their lowest level in more than four years in late January, […]
Market participants might disagree over how high flat-rolled steel price might go and for how long they might remain elevated. But there is near total agreement on one thing: Prices are up sharply again this week. The gains come on the heels of waves of mill price increases (for sheet and for plate), expectations that scrap prices will rise again in March, and the threat of tariffs looming over the market.
Evraz North America (NA) has followed Nucor and SSAB with a plate price increase of its own: up $160 per short ton (st). The increase was effective immediately for all new orders of carbon, high-strength low-alloy, and normalized and quenched-and-tempered plate products, as well as for hot-rolled coil, the steelmaker said in a letter to […]
Nucor aims to increase prices for steel plate by $160 per short ton (st) with the opening of its April order book. The Charlotte, N.C.-based steelmaker said the increase was effective with orders received on Feb. 24 in a letter to customers dated the same day.
Buyers responding to our latest market survey reported that steel mill lead times were stretching out this week for sheet and plate products tracked by SMU. The results weren’t much of a surprise. Production times have begun moving out following a wave of frenzied buying in response to stricter Section 232 announced by the Trump […]
SSAB has increased plate prices by a total of $240/st in less than a month. That tally results from the current increase, an increase of $80/st in early February, and another of $60/st in late January, according to SMU’s price announcement calendar.
Mills’ flexibility on price for spot orders has taken a nosedive to levels not seen since the end of March 2023.
Flat rolled = 66 shipping days of supply Plate = 54.3 shipping days of supply Flat rolled US service center flat-rolled steel supply declined in January month on month (m/m) but is up about 10% year on year (y/y), according to SMU data. At the end of January, US service centers carried 66 shipping days […]