By CRU Principal Analyst Josh Spoores Sheet prices in the U.S. have continued to rise as both buyers and sellers have reported higher transactions. Overall volume reported has been steady over the past few weeks and near 2019 average levels. The overall price range remains wide, around $50 /s.ton. We anticipate that prices will continue […]
The long-awaited rebound in steel prices was the biggest story of the month in July. Steel Market Update’s Price Momentum Indicator was pointing firmly upward by the end of the month following three $40 price increase announcements by flat rolled steel producers. The benchmark price of hot rolled steel hit $580 per ton in July, […]
Domestic steelmakers appear to be collecting at least some of the price increases they have announced on flat rolled steel. Steel Market Update data shows prices for hot rolled, cold rolled and galvanized steel up by $10 to $25 per ton over last week. The mills hope to do the same with steel plate, announcing […]
Following Nucor’s lead on Friday, ArcelorMittal USA, EVRAZ and SSAB Americas informed customers this week that they are raising the spot price of their plate products by a minimum of $40 per ton ($2/cwt), effective immediately. ArcelorMittal and EVRAZ informed customers verbally, SMU was told, while SSAB distributed a letter stating that the $40 per […]
Prices continued to move higher this week and the mills seem to have gotten a handle on price momentum both on flat rolled and plate. Whether this is temporary or not will depend on lead times and the ability of the steel mills to fill their order books. As one buyer told me this morning: […]
Rising steel prices may be giving a lift to industry attitudes. Steel Market Update’s latest Steel Buyers Sentiment Index shows an eight point increase in Current Sentiment and an 11 point increase in Future Sentiment. While a single week’s results can’t reliably predict a new trend, the uptick is a notable change from sentiment data […]
Nucor’s Plate Group notified customers on Friday that it is raising the price of carbon and alloy plate and heat-treated plate by a minimum of $40 per ton ($2/cwt), effective immediately on all new spot orders. “In recent weeks, plate pricing has fallen to unsustainable levels. While end-use demand and project business remains stable, the […]
Last week, Steel Market Update conducted our mid-July flat rolled and plate steels market trends analysis. We invited 480 individuals representing 450+ companies to participate in our questionnaire. We intentionally concentrate on inviting manufacturing (40 percent last week) and service centers (45 percent last week) as well as steel mills, trading companies and toll processors […]
Nucor’s Plate Group notified customers on Friday that it is raising the price of carbon and alloy plate and heat-treated plate by a minimum of $40 per ton ($2/cwt), effective immediately on all new spot orders. “In recent weeks, plate pricing has fallen to unsustainable levels. While end-use demand and project business remains stable, the […]
If you haven’t registered for the Premier Steel Conference in North America, then this is the time to do so. The Steel Market Update Events App, which all 900+ attendees have access to, was launched last week, meaning registered attendees are now busy organizing meetings with each other in advance to make the most of their time […]
If you haven’t registered for the Premier Steel Conference in North America, then this is the time to do so. The Steel Market Update Events App, which all 900+ attendees have access to, was launched last week, meaning registered attendees are now busy organizing meetings with each other in advance to make the most of their time […]
There have been $120 per ton ($6.00/cwt) of flat rolled price increases going back to late June. Nucor announced the first plate price increase late on Friday afternoon. That increase is $40 per ton. I heard from a couple of plate service centers who basically said, “It’s about time.” I guess those distributors will support […]
Steel Market Update data indicates that the mills have been able to collect some, but not all, of their recent price increases. Their apparent willingness to continue negotiating on spot orders, as reported by steel buyers to SMU, casts doubt on the resolve they will need to collect the rest. Certainly, steel prices are much […]
Lead times for steel delivery have continued moving out over the past two weeks as the three price increases announced by the mills have drawn more buyers off the sidelines. The average lead time for hot rolled has moved up to more than four weeks, cold rolled to about six weeks, and coated steels to […]
A note today for those companies who will be renewing their memberships for our newsletter in the coming weeks. Please take some time to speak with Paige Mayhair at 724-720-8630 or by email: Paige@SteelMarketUpdate.com to see what options we now have for membership. We made significant changes in the way we are marketing our newsletters, […]
Flat rolled steel prices continued their march higher – even prior to the ArcelorMittal USA price increase announcement. The domestic mills are determined to move prices higher. As one mill executive put it to Steel Market Update today, “I think the fall from $940 to $505 was too much, too fast. Way overshot a fair […]
This week we solicited input from steel buyers (and steel mills) regarding their reaction to the third round of price increases, which was kicked off by ArcelorMittal USA yesterday. On June 24, Nucor announced the first of the latest round of mill price increases on spot flat rolled steel. Nucor advised that hot rolled, cold […]
This week we solicited input from steel buyers (and steel mills) regarding their reaction to the third round of price increases, which was kicked off by ArcelorMittal USA yesterday. On June 24, Nucor announced the first of the latest round of mill price increases on spot flat rolled steel. Nucor advised that hot rolled, cold […]
Steel Market Update has been analyzing service center inventories for two years now. With our acquisition by the CRU Group, we expanded the breadth and depth of our coverage. Our new Service Center Inventories Index will be rolled out to the public at the 2019 SMU Steel Summit Conference in Atlanta at the end of […]
Steel Market Update has been analyzing service center inventories for two years now. With our acquisition by the CRU Group, we expanded the breadth and depth of our coverage. Our new Service Center Inventories Index will be rolled out to the public at the 2019 SMU Steel Summit Conference in Atlanta at the end of […]
SSAB Americas saw a drop in sales from first to second quarter due to lower volumes and prices. Sales of SEK 4.5 billion ($485 million) were down 6 percent from Q1 but were 13 percent higher than a year ago. The company reported good demand in several segments but cautious buying and destocking at service […]
Tomorrow we will begin our mid-July flat rolled and plate steel market trends analysis. This means we will have more information regarding pricing (Tuesday), lead times and negotiations (Thursday) and Sentiment and service center spot (Thursday or Sunday) along with other information developed through our questionnaire. If you would like to be included as a […]
Nine business days left for you to nominate a young person from your company for the 2019 SMU NexGen Leadership Award. The deadline is by the end of business on August 1, 2019. The benefits of receiving this award are huge for the person who ultimately wins. A mentorship day with SDI CEO Mark Millett, […]
Nucor reported a decline in earnings for the second quarter of 2019 due to lower shipments and pricing. A build-up of inventory before the Section 232 tariffs resulted in aggressive destocking at the end of 2018 and into 2019, which impacted order rates, along with an increase in domestic steel supply and a declining scrap […]
By CRU Principal Analyst Josh Spoores and CRU North America Analyst Ryan McKinley U.S. domestic scrap prices fell by $10 /l.ton m/m in the Great Lakes and Ohio Valley for most grades prior to the Independence Day holiday, but dealers the following week pushed back on the price decline, with some successfully securing little to […]
U.S. steel exports in May totaled 630,107 net tons (571,624 metric tons), up 4.6 percent from April, but down 26.5 percent from levels one year ago. May levels are on the high side for 2018, but low comapred to the past few years. This time last year, exports were averaging 840,000 to 860,000 tons. The […]
We saw upward price movement in flat rolled steel prices this week. Benchmark hot rolled prices now average $550 per ton, up $15 per ton over the past week. All of the other products indexed by Steel Market Update also moved higher. Here is how we see prices this week: Hot Rolled Coil: SMU price […]
Steel Market Update has moved our Price Momentum Indicator on flat rolled products from Neutral to Higher. We continue to reference plate Price Momentum at Lower. This move is being made after the domestic steel mills, led by Nucor, announced two rounds of $40 per ton price increases over the past two weeks. SMU is […]
Total rolled product imports in June were down by 20.5 percent on a three-month moving average (3MMA) basis year over year. This follows the 27.4 percent decline in May on the same basis. This early look at June’s import volume is based on Commerce Department license data (see explanation below.) This import analysis includes all […]
The analysis breaks down the imported tonnage of six flat rolled products into the district of entry and the source nation. We believe that misinformation (or lack of) about local import volumes is often used to influence purchase decisions. Our intent with this analysis is to describe in detail what is going on in a […]