Tag: pricing

Steel prices climbed for a second straight week across all five sheet and plate products tracked by SMU.

Service centers and distributors contend that weak demand is to blame for the flattening of domestic steel spot prices, as reflected in Nucor Steel’s weekly Consumer Spot Price (CSP) notice. On Monday, the Charlotte, North Carolina-headquartered steel producer left prices unchanged from the previous week. Nucor has maintained prices of plate produced in Brandenburg since March 28.

The price premium of galvanized coil over hot-rolled (HR) coil has narrowed over the past two months, resuming the downward trend seen for most of the last year. As of May 27, the spread between these two products is at one of its lowest levels in nearly two years.

Most steel buyers responding to our latest market survey report that domestic mills are willing to talk price to secure new orders. Mill negotiability has continued to rise across all sheet and plate products we track, now at some of the highest levels recorded since late 2024.

Sheet and plate prices marginally declined again this week for the second consecutive week, pausing the strong downward trend seen from April through early May.

On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

Most sheet and plate prices edged lower again this week, albeit at a slower pace compared to the movements seen over the last seven weeks. Buyers remain cautious and hesitant to hold onto much inventory, citing lingering demand concerns, ongoing tariff uncertainty, and a potentially weakening scrap market in June.

“It was a little more of a seller's market as contractors seemed to be protecting themselves against a potential run up in prices," one buyer said.

Domestic mills are largely negotiable on spot prices, according to the majority of steel buyers responding to our latest market survey.

The recently announced US tariffs on vehicles and key components from all markets are expected to significantly disrupt global production.

SMU polled steel buyers on an array of topics earlier this week, including market prices and demand, tariffs and reshoring, inventories and imports, and evolving market trends.

Steel buyers said Nucor’s price decrease was a public acknowledgement of what most of the market had already known - that sheet prices were moving lower in a more significant way. The question now is whether mills and service centers will manage the decline or whether prices might fall rapidly, they said.

SMU’s Monthly Review provides a summary of our key steel market metrics for the previous month, with the latest data updated through April 30.

Nearly two thirds of the steel buyers who responded to this week’s SMU survey say domestic mills are negotiable on spot prices. This increasing flexibility marks a significant shift from the firmer stance mills held in recent months.

Most sheet and plate steel prices declined yet again this week, with four of SMU’s five indices moving lower.

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.

SMU’s flat-rolled steel prices were flat or lower as tariff-related uncertainty continued to drag on the market.

Steel prices slipped again this week, with all five of SMU’s sheet and plate indices trending lower for the second week in a row.

SMU polled steel buyers on an array of topics this week, ranging from market prices, demand, and inventories to imports and evolving market events. We are sharing some of the comments we collected.

Four out of every five steel buyers who responded to our latest market survey say domestic mills are unwilling to negotiate on new order spot pricing. Mills have shown little flexibility on pricing for nearly two months.

This week, SMU polled steel buyers on an array of topics, including market prices, demand, tariff policies, inventories, imports, and emerging market events.

The majority of the steel buyers responding to our latest market survey continue to report that domestic mills remain firm on pricing, showing little willingness to talk price on new spot orders this week.

Steel prices were stable to higher this week for the second consecutive week across the sheet and plate products tracked by SMU. Three of our price indices increased from the previous week, while two held firm.

What are steel buyers saying this week about prices, demand, the import market, the evolving tariff situation, and more?

After over a month of increases, steel prices paused this week for some of the products tracked by SMU. Three of our price indices continued to climb, while two held steady from the prior week.

The majority of the steel buyers responding to our latest market survey reported that domestic mills are not open to negotiating prices on new orders this week.

Market participants might disagree over how high flat-rolled steel price might go and for how long they might remain elevated. But there is near total agreement on one thing: Prices are up sharply again this week. The gains come on the heels of waves of mill price increases (for sheet and for plate), expectations that scrap prices will rise again in March, and the threat of tariffs looming over the market.

Each of the steel product prices tracked by SMU saw significant increases this week. All four of our sheet price indices rose by $30-50 per short ton (st) on average. Plate prices popped $60/st compared to the week prior.

Steel mill negotiation rates have declined in each of our last two surveys; this week’s rate is the lowest recorded since March 2024.

SMU’s steel price indices rose across the board this week. Sheet prices increased as much as $35 per short ton (st) compared to last week, while our average plate price ticked up by$10/st.