SMU’s sheet prices were mixed this week. Hot-rolled (HR) coil and plate notched gains while prices for coated products stagnated or dipped lower. Our HR price now stands at $700 per short ton (st) on average, up $15/st from last week and marking the highest level for HR prices since $705/st in early October. SMU’s […]
President Donald Trump on Sunday hammered Colombia with 25% tariffs and threatened to increase them to 50%. Trump in a post on Truth Social said he took the action not because of a trade dispute but because the South American nation had refused to accept planes carrying deported immigrants. The president also cited "national security" concerns, just as he did to justify 25% Section 232 tariffs on steel in his first term. Even the 50% threat echoes his first term. Turkish steel, like that of most nations, was assessed a 25% tariff in March 2018. Trump doubled Turkey's tariff to 50% via a tweet in August of that year over a matter unrelated to steel.
Steel prices ticked lower this week for four of the five products SMU tracks, according to our latest canvass of the sheet and plate markets. Following last week’s bump, our hot rolled, cold rolled, galvanized, and plate indices all edged lower this week by $5-15 per short ton (st) on average. Galvalume was the only […]
I wrote in a Final Thoughts a few years ago that it seemed all the swans were black. More recently, I’ve been asked by some of you what the wildcards are for 2025. You could probably make the case that all the cards are wild now.
While steel news may be starting 2025 off with a bang, Nucor’s consumer spot price (CSP) for hot-rolled coil is not.
We have seen very little change in sheet and plate prices across the past month.
The steelmaker has kept its weekly consumer spot price for hot-rolled steel sheet unchanged since Nov. 12.
Steel prices have remained relatively stable in recent weeks, though they have generally trended downward since October.
Nucor’s weekly spot price for hot-rolled (HR) coil will remain at $750 per short ton (st) for a fifth week.
Steel sheet prices remain at or near multi-month lows, while plate prices continue edging lower from their mid-2022 peak.
SMU’s Monthly Review provides a summary of important steel market metrics for the previous month. Our latest report includes data updated through November 30th.
For the fourth week in a row, Nucor will keep its published spot price for hot-rolled (HR) coil unchanged.
SMU's price indices saw minor fluctuations on sheet products this week, while our plate and Galvalume indices held steady.
Nucor is holding its hot-rolled (HR) coil base price flat at $750/st for the third week in a row.
This CRU analysis from discusses steel sheet prices, demand, and inventory levels around the globe this past week.
Nucor raised its weekly consumer spot price (CSP) for HRC this week to $750/short ton.
SMU price indices edged lower this week for all products but one, marking the fifth consecutive week of overall declining prices.
Timna Tanners, managing director of equity research for Wolfe Research, will be the featured speaker on the next SMU Community Chat. Tanners – who has coined Sheet Storm, Scrap Squeeze, and Galv Galore – is one of the most popular guests on our Community Chats. Her insights and forecasts are always thought provoking.
Next week promises to be a big week for the country. Could even top the World Series (congrats to the Dodgers). As we all hold our breath to see what happens next, it’s a good time to reflect.
Cleveland-Cliffs is keeping its market price for HRC flat at $750/short ton with the opening of its December order book.
SMU price indices declined again this week for all products other than hot-rolled sheet. Our indices have trended lower across October, falling as much as $75 per short ton (st) in that time.
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.
After holding its weekly spot price for hot-rolled (HR) coil steady for three weeks at $730 per short ton (st), Nucor lowered the price this week by $10/st.
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.
Nucor’s consumer spot price (CSP) for hot-rolled (HR) coil is unchanged this week at $730 per short ton (st).
Nucor is holding its hot-rolled (HR) coil consumer spot price (CSP) at $730 per short ton (st) this week.
Thanks to everyone who attended our Steel Hedging 101 workshop in Chicago on Wednesday. I learned a lot from StoneX Group’s Spencer Johnson, who instructs the course, and from your good questions. One thing that Spencer said sticks with me as I write this column. Namely, that momentum drives steel prices more than other commodity markets. If you watch steel futures, you’ll see up days and down days. But it’s rare to see the momentum shifting back and forth within any given day.
Galvanized steel buyers on Tuesday discussed the eerie stability in sheet prices of late. Expectations are for the murky market to persist in the short term, while glimmers of hope continue for prices pushing higher.
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.
Nucor has raised its weekly consumer spot price (CSP) by $10 per short for hot-rolled (HR) coil to $720/st.