SSAB Americas plans to increase plate prices by at least $60 per short to, according to a letter to customers dated Thursday, Oct. 24. The higher prices are effective immediately for all new non-contract orders scheduled to ship on or after Dec. 2.
More than nine out of every 10 steel buyers polled by SMU this week reported that mills are flexible on prices for new orders. Negotiation rates have been strong since April and on the rise since early September.
U.S. Steel aims to increase spot prices for all new orders of flat-rolled steel by at least $30 per short ton (st), according to an internal letter dated Thursday.
US hot-rolled (HR) coil prices moved lower again this past week. A similar trend was seen in offshore markets, keeping domestic tags marginally above imports on a landed basis.
SMU's hot-rolled (HR) coil price slipped this week to $685 per short ton (st) on average. We also adjusted our sheet momentum indicators to lower for the first time since July.
Steel prices ticked lower again this week for most of the products SMU tracks. Our indices have declined as much as $40 per short ton (st) across the last four weeks.
Steelmaking raw material prices strengthened for all but one product in October, a change in pace compared to recent months, according to SMU’s latest analysis.
Nucor is holding its hot-rolled coil consumer spot price at $720/short ton this week.
The price spread between US-produced cold-rolled (CR) coil and offshore products was negligibly wider in the week ended Oct. 18, on a landed basis.
We had an October surprise here at SMU on Wednesday. I was working from the CRU office in Pittsburgh, and the internet connection briefly went out. As luck would have it, that happened smack in the middle of a live Community Chat webinar. Fortunately, my colleague David Schollaert stepped in, Zekelman Industries CEO Barry Zekelman rolled with the punches – and the show went on. Could there be any more October surprises in store for us and for the steel market?
US hot-rolled (HR) coil prices slipped again this past week, mirroring movement in offshore markets. This kept domestic tags marginally higher than imports on a landed basis.
Prices, demand, inventories, evolving market events... What are buyers and sellers of steel talking about this week?
Steel sheet prices mostly edged lower for a second week, while plate prices slipped for the third consecutive week.
The price gap between US-produced cold-rolled (CR) coil and offshore products narrowed slightly again in the week ended Oct. 11, mainly due to a stateside price cut.
I’m trying to make sure this is not a TL;DR Final Thoughts. As a journalism school professor once told me, ‘No one but your mom reads more than 1,000 words.’ Also, as the old adage goes, a picture is worth a thousand as well. With that in mind, below are a couple of charts that I think go a long way toward explaining how prices and lead times have been relatively stable despite concerns about demand.
US hot-rolled (HR) coil prices slipped this past week but remain marginally higher than offshore material on a landed basis.
Negotiation rates have consistently been in the 70-80% range for over two months, relatively strong in comparison to levels seen across the past year.
Nucor said it would keep plate prices unchanged in a letter to customers on Wednesday. The Charlotte, N.C.-based steelmaker in addition said it was opening its November order book for plate. The company did not specify what its plate price was. It has officially kept prices flat since cutting them by $125 per short ton (st) on July 1.
Steel sheet and plate prices moved lower this week as efforts among some mills to hold the line on tags ran up against continued concerns about demand.
The price gap between US-produced cold-rolled (CR) coil and offshore products narrowed slightly in the week ended Oct. 4, mainly due to a price jump in Asian markets.
SMU’s monthly review provides a summary of important steel market metrics for the previous month. This latest report includes data updated through Sept. 30.
US hot-rolled (HR) coil prices moved slightly higher again this past week but remain marginally higher than offshore material on a landed basis. Since reaching parity with import prices in late August, domestic prices have been slowly pulling ahead of imports. This has been driven by a slight deviation in price movements – slow but […]
Steel prices ticked higher this week for most of the sheet products SMU tracks, back up to highs last recorded in June and July. Meanwhile, plate prices edged lower following three weeks of stability.
Over three quarters of the steel buyers participating in our market survey this week reported that mills are negotiable on new order prices
SMU’s steel price indices were mixed this week as the market seeks direction. All of our indices have fluctuated within relatively narrow ranges across September.
Flack Global Metals (FGM) Founder and CEO Jeremy Flack will sit down with SMU for a Community Chat webinar on Wednesday, Oct. 2, at 11 am ET. The live webinar is free for anyone to attend. A recording will be available only to SMU subscribers.
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil increased $10 per short ton (st) from last week to $730/st as of Monday, Sept. 23.
It’s officially fall. And here’s a funny thing about steel prices in the fall over the last few years – they tend to move in the opposite direction of the leaves. SMU’s hot-rolled (HR) coil price averaged $676 per short ton (st) in September 2023. That figure increased to $1,035/st in December 2023, a gain of 53% percent. (You can follow along with our pricing tool.)
The premium galvanized coil prices carry over hot-rolled (HR) coil continues to shrink, according to SMU price indices.
The price gap between US cold-rolled (CR) coil and offshore product widened this week as stateside tags inched up. The premium has been steadily increasing after falling to a 10-month low in late July.