Tag: prices

Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.

Nucor aims to keep plate prices flat again with the opening of its August order book.

The majority of steel buyers responding to our latest market survey say domestic mills are more willing to talk price on sheet and plate products than they were earlier this month. Sheet negotiation rates rebounded across the board compared to early June, while our plate negotiation rate hit a full 100%.

As of June 24, the premium galvanized coil carries over hot-rolled coil is just $5 per short ton (st) above the lowest level recorded in almost two years.

Prices for steel sheet slipped this week despite Section 232 tariffs remaining at 50% and a US strike on nuclear facilities in Iran over the weekend.

Nucor maintained its weekly list price for hot-rolled (HR) coil this week, following two consecutive increases.

US cold-rolled (CR) coil prices continued to tick higher this week, while offshore markets were mixed.

According to our latest analysis, prices for four of the seven steelmaking raw materials we track declined from May to June. Collectively, these materials declined 3% month over month (m/m) and are down 9% compared to three months ago.

Several steel market sources say they were blindsided when mills increased spot prices for hot-rolled coils this week.

US hot-rolled coil prices crept up again this week but still trail imports from Europe.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

Steel prices inched higher again this week across most of the sheet and plate products tracked by SMU.

Nucor raised its published weekly spot price for hot-rolled (HR) coil by $10 per short ton (st) on Monday.

Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet products than they were in recent weeks, but remain open to bargain on plate prices.

Domestic hot-rolled (HR) coil prices edged up marginally again this week, while offshore prices ticked down.

Steel prices climbed for a second straight week across all five sheet and plate products tracked by SMU.

The increases are effective June 6.

US manufacturers brace for the implications spurred by the latest round of Section 232 tariffs.

A fierce flat price rally started this week that saw the nearby months rally by over $120/ short tons, exceeding the contract highs seen in February ahead of the first batch of tariffs.

On Monday and Tuesday, SMU polled steel buyers for their thoughts on the current market. We received an array of feedback, including prices, demand, inventories, imports, and evolving market events.

Following eight consecutive weeks of declines, sheet and plate prices saw some upward movement this week in the wake of last Friday’s Section 232 tariff increase announcement. Gains varied by product.

Service centers and distributors contend that weak demand is to blame for the flattening of domestic steel spot prices, as reflected in Nucor Steel’s weekly Consumer Spot Price (CSP) notice. On Monday, the Charlotte, North Carolina-headquartered steel producer left prices unchanged from the previous week. Nucor has maintained prices of plate produced in Brandenburg since March 28.

SMU’s Monthly Review provides a summary of our key steel market metrics for the previous month, with the latest data updated through May 30.

With higher tariff rates on steel and aluminum set to go into effect on Wednesday, June 4, a new round of chaos across the supply chain is likely in store. Expect a significant impact on manufacturers and metal fabricators. But even before the latest round of Trump-tariff whiplash on Friday evening, there was a lot of interesting data coming out of SMU's steel-market survey.

The price premium of galvanized coil over hot-rolled (HR) coil has narrowed over the past two months, resuming the downward trend seen for most of the last year. As of May 27, the spread between these two products is at one of its lowest levels in nearly two years.

Most steel buyers responding to our latest market survey report that domestic mills are willing to talk price to secure new orders. Mill negotiability has continued to rise across all sheet and plate products we track, now at some of the highest levels recorded since late 2024.

Sheet and plate prices marginally declined again this week for the second consecutive week, pausing the strong downward trend seen from April through early May.

Nucor has lowered its consumer spot price (CSP) for hot-rolled coil by $10 per short ton (st), marking the fourth consecutive weekly decrease.

Nucor aims to keep plate prices flat again with the opening of its July order book.

Here are highlights of what’s happened and a few things to keep an eye on this upcoming week.