Tag: Prices

Manufacturing activity in New York state increased modestly in June, easing after posting strong growth the month prior, according to the Empire State Manufacturing Survey.

SMU’s average price for domestic HR was $1,130 per short ton (st) this week, $15/st higher week over week (w/w). In offshore markets last week, prices were largely down, following a trend seen since late April.

SMU’s Steel Demand Index ticked back up from late May, remaining in elevated territory, according to mid-June indicators.

May was the fifth consecutive month of expansion for the US manufacturing sector, according to the most recent Institute for Supply Management (ISM) report.

SMU’s sheet price indices increased further this week, while plate held steady, all at multi-year highs.

Nucor Plate Group will maintain its previously announced fuel surcharge of $10 per short ton for next month, effective on all shipments beginning July 1.

Nucor announced on Monday, June 15, that its consumer spot price (CSP) for hot-rolled coil will be $1,125 per short ton (st) for the week, up $10/st from last week.

Spot market participants recently told SMU they foresee additional plate price rises for domestically made products.

The World Cup only comes around every four years. So let's take a walk down memory lane to see where the steel market stood four years ago.

Some domestic spot market buyers say they're seeking imported hot-rolled (HR) coils.

This week we saw continued low negotiation rates across all products, with cold rolled and plate the least negotiable and galvanized the most.

The price gap between US hot-rolled coil (HR) and landed offshore product continues to narrow, as stateside prices are now, on average, carrying a premium over imports. Domestic tags are still outpacing imported hot band as pricing dynamics diverge.

Atlas Tube on Monday announced price increases for mechanical, HSS, and piling products.

Nucor announced on Monday, June 8, that its consumer spot price (CSP) for hot-rolled coil will be $1,115 per short ton (st) for the week, up $10/st from last week.

Nucor on Friday announced plans to increase plate prices by $60 per short ton (st).

Steel market chatter this week: Buyers predict prices to continue rising from here, report steady to improving demand, and most see tariffs as unhelpful.

Algoma Steel announced on Thursday a price increase for coil and plate products, effective immediately.

Participants in the plate market doubt prices, lead times, and demand forces will cool down any time soon.

After falling to a multi-year low in March, the premium galvanized coil commands over hot-rolled (HR) coil has widened in recent months.

SMU’s sheet price indices continued to climb this week, while plate held steady, all at multi-year highs.

Nucor announced on Monday, June 1, that its consumer spot price (CSP) for hot-rolled coil will be $1,105 per short ton (st) for the week, up $10/st from last week.

Participants in the hot-rolled coil spot market revealed that growing discomfort with current market dynamics hasn't deterred them from conducting spot transactions.

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

This week we saw low negotiation rates across all products, with coated and plate products slightly more negotiable than hot rolled and cold rolled.

Market participants report frustration with extending lead times for domestically produced plate products.  

Sheet and plate price indices increased between $5-20 per short ton (st) from last week.

Nucor announced on Tuesday, May 26, that its consumer spot price (CSP) for hot-rolled coil will be $1,095 per short ton for the week, up $5/st from last week.

US domestic steel prices continued to increase for most products as demand remained resilient amid tight supply. Domestic sheet and plate prices increased over the past month, while long products prices were mostly stable, with only structural and merchant bar prices edging up higher.

Domestic plate market participants named extended lead times, increased freight costs, escalating fuel surcharges, and spotty demand as their most recent challenges.  

Galvanized steel buyers and distributors expect tightening supply and rising price pressure to last into summer.