Tag: prices

The downward trend in Chinese steel export prices continued over the past month, as domestic demand in the country failed to recover following the Golden Week holidays.

Most steelmaking raw material prices remained stable over the past month. Prices are mixed in comparison to this time last year.

The SMU Steel Demand Index slackened from late October, remaining below expansion territory, according to SMU's mid-November indicators.

SMU’s price indices increased across the board this week, reaching new multi-month highs.

Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week. Now at $910 per short ton (st), up $15/st from last week.

Global sheet markets face divergent trajectories into year-end, with Asian (excl. India) markets under pressure from oversupply. This, while Western markets experience temporary support from supply constraints.

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.  

The price gap between stateside hot band and landed offshore product has marginally widened week over week.

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.

US steel mills have received a boost from lower import levels because of sweeping tariffs this year. However, demand remained moderate in most sectors, aside from data center construction, after the summer.

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.

ArcelorMittal Dofasco and Stelco joined recent moves by US mills to push sheet prices higher.

Nucor increases HR spot price by $5/ton

SMU’s Steel Demand Index remains in contraction, according to late October indicators. Though growth faded at a slower pace, it rebounded from one of the lowest readings year-to-date from earlier in the month.

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.

In dollar-per-ton terms, US product is on average $141/st less than landed import prices (inclusive of the 50% tariff). That’s down from $148/st last week.

Participants in the domestic steel plate market said the plate market never accepted mill-issued spot price increases. 

Nucor has raised its weekly spot list price on hot-rolled coil by $10 per short ton (st) after keeping it unchanged since Aug. 25.

US buyers want to drop pig iron prices to levels commensurate with the decline in prime scrap in their domestic market. Prime price shed $20 per gross ton (gt) in September and another $20/gt in October.

The steelmaker released updated extras to customers on Oct. 15, marking the second adjustment in just six weeks following their early September revision

What's on steel buyers' minds this week? We asked about market prices, demand, inventories, tariffs, imports, and other evolving market trends. Read on for buyers' comments in their own words...

Nucor kept its consumer spot price (CSP) for hot-rolled coil at $875 per short ton (st) for the ninth straight week.

After marginally rising in August and September, the premium galvanized coil carries over hot-rolled coil (HRC) coil has narrowed again in recent weeks. As of Sept. 16, the spread between these two products has shrunk to a two-and-a-half-year low of $125 per short ton (st).

Genuine demand, they stated, will return when the market feels stable again.

SMU’s average price for domestic hot-rolled (HR) coil was $800 per short ton (st) this week, up $5/st week on week (w/w). In offshore markets last week, prices were varied.

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.

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).

Nucor has left its consumer spot price for hot-rolled coil at $875 per short ton for the eighth straight week.

There are days when this feels like a “nothing ever happens” market. Don’t get me wrong. Plenty is happening in the world. It’s just that none of it seems to matter when it comes to sheet and plate prices.