Tag: sheet prices

SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.

SMU’s latest survey results indicate that steel market participants think sheet prices are at or near a bottom. But most also think there is limited upside once they inflect higher.

Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.

Half of the participants on this month's Air-Conditioning & Refrigeration Distributors International (HARDI) Sheet Metal/Air Handling Council call expect galvanized steel base prices to remain flat at ~$48 per hundredweight ($960/short ton) for the next 30 days.

Sheet prices were mixed this week as some mills continued to offer significant discounts to larger buyers while others have shifted toward being more disciplined, market participants said.

Nucor’s Dan Needham views the steelmaker’s flexibility and diversification as key to pivoting when economic conditions require.

Nucor is attempting to halt the decline in hot-rolled coil prices with the announcement of a $10-per-short-ton increase in its weekly consumer spot price on Monday.

Nucor has lowered its hot-rolled (HR) spot price by another $10 per short ton (st) this week.

Nucor has implemented a double-digit price decrease on spot hot-rolled (HR) coil for the second consecutive week.

Sheet and plate prices were either flat or modestly lower this week on softer demand and increasing domestic capacity.

Is this just a severe case of the summer doldrums? Will demand improve in the fall, as it often does? Or has uncertainty around tariffs and the economy created a more lasting impact?

CRU Principal Analyst Shankhadeep Mukherjee expects a restocking cycle for steel sheet products in most parts of the world due to either low inventories or seasonally stronger demand.

Nucor is keeping its list price for spot hot-rolled coil unchanged after last week’s shortened holiday week.

Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.

Subdued demand has continued to weigh on steel sheet prices globally.

The $20/short ton increase applies to all of the steelmaker’s sheet mills, including West Coast joint-venture subsidiary CSI.

Nucor halted a four-week decline in its spot price for hot-rolled coil this week, maintaining its weekly consumer spot price (CSP) at $870/st.

Here are highlights of what’s happened and a few things to keep an eye on this upcoming week.

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.

Let’s just say the impact of the latest tariffs on the domestic steel market is uncertain at best.

After eight weeks of double-digit price increases on hot-rolled (HR) coil, Nucor slowed the price rise this week with an increase of $5 per short ton.

Nucor has increased its weekly HR coil spot price for seven consecutive weeks.

One thing we've learned from our survey here at SMU: When prices are rising, people have a lot to say. You can be assured that with our most recent survey, the comments were coming in fast and furious.

Nucor has increased its list price for hot-rolled (HR) coil to $900 per short ton (st), according to a letter to customers on Monday. The Charlotte, N.C.-based steelmaker’s list price for HR is up $40/st from $860/st last week and up $125/st from $775/st a month ago, according to SMU’s mill price announcement calendar. The […]

The US steel market has whipsawed upward on the prospect of expanded Section 232 tariffs of 25% being applied to imported steel - including downstream goods - on March 12. It seems pretty clear that domestic steel mills have the ear of the Trump administration when it comes to Section 232. The result? The much-anticipated Trump bump has finally arrived - and then some.

Some of you have told me that the current market feels about as crazy as early 2021 when demand snapped back after the initial outbreak of the Covid-19 pandemic. Others have said it might be more like late February/early March 2022, when Russia launched a full-scale invasion of Ukraine – and, in the process, caused […]

NLMK USA has opened its April order book at new, higher base prices for steel sheet, according to market participants. The steelmaker is seeking at least $900 per short ton (st) for hot-rolled (HR) coil and at least $1,100/st for cold-rolled and coated products, they said.

U.S. Steel has increased prices for flat-rolled steel by at least $50 per short ton (st), according to market participants. The Pittsburgh-based steelmaker now seeks a minimum of $850/st for hot-rolled (HR) coil. And it seeks at least $1,050/st for cold-rolled and coated base prices, they said.

ArcelorMittal is targeting a minimum base price of $800 per short ton (st) for hot-rolled coil. The steelmaker is also seeking $1,050/st for cold-rolled product and $1,000/st for coated material, according to a letter to customers dated Wednesday.

ArcelorMittal Dofasco is raising spot sheet prices by CA$100 per ton (US$70/ton). The Hamilton, Ontario-based flat rolled steelmaker told customers the increase is effective immediately for all new orders. It did not specify to what level this brings its base prices but noted its right to re-quote previous but unconfirmed orders. “We will continue to […]