Reliance Seeing Healthy Demand, Limited Impact from UAW Strike
Reliance Steel & Aluminum is anticipating overall demand to remain healthy through year’s end despite some weakening in some sectors and normal seasonality.
Tag: prices
U.S. Steel Up Another $100/ton on Sheet
U.S. Steel on Thursday announced that it would increase spot prices for steel sheet by another $100 per ton.
Final Thoughts
Taylor Swift’s “Shake It Off” could be the theme song for the sheet market over the last month. A UAW strike? Shake it off. The lowest ABI since December 2020? Shake it off. A potentially widening conflict in the Middle East? Shake it off. Sheet prices have been rising since late September, and hot-rolled coil […]
SMU Price Ranges: Sheet Up as Price Hikes Gain Traction
Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.
Nucor Confident on Strong Long-Term Appetite for Steel
Nucor Corp. remains incredibly bullish long-term on steel demand, but an underlining theme during the steelmaker’s third-quarter earnings conference call with analysts on Tuesday, Oct. 24, was tempered near-term expectations.
Nucor Posts Lower Q3 Profit on Weaker Steel Prices
Nucor reported a drop in third quarter profits on lower steel prices, with the biggest hit to earnings occurring at its sheet mills. And the Charlotte, N.C.-based electric-arc furnace (EAF) steelmaker doesn't see things improving in the fourth quarter.
AM/NS Calvert, Stelco Follow Major Sheet Mills Higher
ArcelorMittal and Stelco joined last week’s move by domestic mills to push sheet prices higher.
Final Thoughts
This week could be a big one for steel, or at least for the steel rumor mill. For starters, there is renewed speculation that an announcement about the U.S. Steel sales process could be in the works. The rumor mill is also churning fast when it comes to the duration of the UAW strike and […]
November Scrap Tags Seen Mostly Sideways, Sources Say
As the ferrous scrap market in the US enters the home stretch for 2023, it faces an array of issues and uncertainties.
HRC Futures: A Swing in the Market
Well, what a difference a month makes…
U.S. Steel Raises Sheet Prices by $100/ton
U.S. Steel on Thursday said it planned to increase spot base prices for steel sheet by at least $100 per ton ($5 per cwt).
Domestic HRC Prices Surpass Foreign Hot Band
US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.
Cleveland-Cliffs Ups Sheet, Aims for $800/ton HR Price
Cleveland-Cliffs said on Thursday it's targeting a minimum base price for hot-rolled steel of $800 per net ton ($40 per cwt).
Nucor Hikes Sheet Prices, Seeks $800/ton HR Base
Nucor Corp. aims to raise base prices for hot-rolled coil to a minimum of of $800 per ton ($40 per cwt).
Market Chatter This Week
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, the UAW strike, and what people were talking about in the market.
Final Thoughts
If you think prices will continue to rise, you might point to longer lead times and stable order entry.
SMU Price Ranges: Sheet Prices Up Again, But Outlooks Diverge
Sheet prices notched a third consecutive week of gains on limited supply and stable demand outside of automotive operations impacted by the UAW strike.
New York Manufacturing Activity Slides in October
Manufacturing activity decreased in New York in October, according to the most recent Empire State Manufacturing survey. The headline general business index fell to -4.6 in October from 6.5 points in September. The new orders index dipped nine points month over month to -4.2, while the shipments index dropped 11 points to 1.4. Twenty-four percent […]
Service Center Shipments and Inventories Report for September
US service center flat-rolled steel inventories declined for a second month as shipping rates picked up in September.
SMU Steel Demand Index Inches Up Again But Still in Contraction
Steel Market Update’s Steel Demand Index remains in contraction territory despite repeated improvements since mid-September, according to our latest survey data.
CRU: Ore-Based Metallics Prices Mixed as Demand Weakens
Prices for ore-based metallics were mixed month-on-month (MoM) as lower finished steel production weighs on pig iron demand.
Prime Scrap, HRC Spread Increases in October
The spread between hot-rolled coil (HRC) and prime scrap prices widened slightly this month, according to SMU’s most recent pricing data.
SMU Survey: Current Buyers Sentiment Slips, Future Level
SMU's Current Steel Buyers Sentiment Index edged down this week while the future index remained flat, based on our most recent survey data.
Final Thoughts
The sheet market appears poised for a rebound if you’re looking at the indicators we typically track.
CMC Reports Strength in North America as Europe Struggles
With solid demand and attractive margins, the North American market has been helping to prop up CMC’s results as its European operations struggle with weaker demand amid challenging market conditions.
Buyers Say Mills Less Willing to Negotiate Lower Prices: SMU Survey
The mill negotiation rate for all products SMU looks at fell this week, with hot rolled dropping 13 percentage points, according to our most recent survey data.
Foreign and Domestic HRC Prices Near Parity
US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.
HRC Futures: Addressing Risk in Uncertain Times
If the last few years have taught us anything, it is that nothing is certain.
Final Thoughts
Sheet prices remain on an upward trend. Many of you expect that to remain the case - assuming that the UAW strike doesn’t drag on much longer.
SMU Price Ranges: Sheet Rises Again, HRC Firms Around $700/ton
Sheet prices moved upward for the second week in a row despite the ongoing UAW strike and concerns in some corners that momentum from a price hike last month might be fading, market participants said.