Most steel buyers report that mills are not willing to negotiate on new order spot prices, according to our latest market survey. Mill negotiability is now down to one of the lowest rates measured in over a year.
Sheet and plate prices were flat or modestly higher this week, continuing a trend we’ve seen since the beginning of Q4. The big question: How much longer can the trend hold?
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil to $1,035 per short ton (st), a $10/st bump from last week.
Prices for iron ore, aluminum, pig iron, and shredded scrap have all risen in the last 30 days. Busheling scrap held steady, while zinc and coking coal declined.
Most steel buyers see prices continuing to inch higher on stable or improving demand. But some are concerned higher energy prices stemming for the Iran war could dent the overall economy.
The price gap between US hot-rolled coil (HR) and landed offshore product remained within a tight band this week. The dynamic continues as both stateside and offshore prices have trended higher.
Sheet prices continue to inch higher. And people who once thought hot-rolled coil (HR) prices couldn’t go above $1,000 are now saying $1,100 doesn’t seem out of the question.
The pace of sheet and plate price increases slowed this week, with most products holding at some of the highest levels seen in over a year.
Nucor raised its consumer spot price (CSP) for hot-rolled (HR) coil to $1,025 per short ton (st), up $10/st from last week.
Plate market sources say the week has been quiet, but that overall, business remains consistent.
Steel buyers remain highly optimistic for their businesses’ chances for current and future success, according to SMU’s latest Steel Buyers’ Sentiment Indices.
As spot prices for hot- and cold-rolled coils edge higher, mill capacity utilization rates hover below 80%, raising concern among some market participants.
Most steel buyers report that domestic mills are unwilling to negotiate price on new sheet and plate spot orders.
Prices for both sheet and plate products climbed higher this week, with some rising to multi-year highs, according to SMU's latest market canvass.
Domestic plate market participants expressed confidence in the overall improvement of market conditions this week.
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.
Nucor Plate Group notified customers it is increasing prices on all rolled products by $40 per short ton (st) and $60/st on all heat treat products.
The spread between domestic hot-rolled coil and prime scrap prices widened in March, marking a six-month trend.
SMU's sheet and plate prices were flat or higher this week in a US market that remains characterized by extended lead times and limited spot availability.
Nucor’s consumer spot price (CSP) for hot-rolled coil increased to $1,010 per short ton (st), up $5/st from last week.
Participants in the US hot- and cold-rolled sheet market cautiously called the week a win as prices inched north and demand picked up.
Plate sources say they’re welcoming imports as domestic mill delivery delays, extended lead times, and climbing prices make fully adopting US-produced plate products unrealistic.
Cold-rolled (CR) coil prices ticked up in the US this week, matching a similar trend seen in most offshore markets as well.
Oregon Steel Mills and SSAB Americas announced higher plate prices to close out the week.
The main impact on the ferrous value chain from the Middle East conflict will be the higher energy costs in a prolonged scenario.
The price gap between US hot-rolled coil (HR) and landed offshore product tightened this week, as stateside tags continue to rise.
Most steel buyers responding to our market survey this week said domestic mills remain unwilling to negotiate lower prices for new spot orders.
Economic activity across the US increased at a light-to-modest pace in seven of the 12 Federal Reserve Districts, according to the US Federal Reserve’s latest Beige Book report.
Let’s say the going price for HR is around $1,000/st. Want to place a 1,000-ton spot order at that price? Good luck. It probably won’t be easy.
SMU's sheet and plate prices increased this week to new multi-month highs.