Sheet prices are up again. That shouldn’t come as a surprise on the heels of mill price hikes, scrap settling up and expected to move higher over the next few months, and inventories – as our premium subscribers will learn tomorrow – moving lower for a third month.
Spot prices for steel sheet shot upward again this week on the heels of steep price increases announced by domestic mills last week. SMU’s hot-rolled coil price rose to $940 per ton ($47 per cwt) on average, up $75 per ton from last week and up nearly $300 per ton from a 2023 low of […]
A group of California members of Congress is calling on U.S. Steel to keep its USS-UPI steel mill in Pittsburg, Calif., open by finding a buyer for the operations.
We’re just 12 weeks from Tampa Steel Conference 2024, one of the premier North American steel community events.
Tata Steel has announced plans to cut 800 roles at its sheet works in Ijmuiden, the Netherlands, to remain competitive and profitable in the future. “Despite all efforts by Tata Steel to improve its market position and reduce costs, more is needed and the company needs to bring down personnel costs further,” the company stated. […]
Nucor Corp. has announced its target date for net-zero greenhouse gas (GHG) emissions as 2050.
Cleveland-Cliffs announced it would seek a minimum base price of $1,000 per ton ($50 per cwt) for hot-rolled coil (HRC) on Nov. 7. Nucor said a day later that it was aiming for $950 per ton. Why didn’t Nucor follow Cliffs up to $1,000 ton? I think there might be some possible answers in our […]
Domestic heating and cooling equipment shipments declined in September, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).
CRU’s analysis shows that 7–12 million metric tons of additional steel demand will be generated following the issuance of RMB1 trillion bonds by the central government of China. The immediate impact of this is that market confidence has improved, which has supported prices. The additional steel demand is expected to materialize over 2024 and 2025. […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at steelmarketupdate.com, visit the Pricing and Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” Historical survey results are also available under that selection. If you need help accessing the survey results, […]
There seems to be a consensus that US sheet prices have nowhere to go but up in the short term, in part because offshore material ordered now won’t arrive until late March or even April.
US steel imports continue to arrive at a steady pace, as total import licenses in October were about even with September’s import levels.
Lead times for most sheet products were pushed out even further this week as domestic prices continue to rise. Plate lead times, meanwhile, contracted on falling prices and waning demand.
U.S. Steel’s Mon Valley Works in western Pennsylvania has not resumed full production of cold-rolled coil (CRC) following an outage last month, a company spokeswoman confirmed.
Hot-rolled coil (HRC) tags continue to rally in the US, broadening the price disparity between domestic and imported offshore product.
Spot prices for steel sheet continued to shoot upward this week, which brought yet another round of price hikes.
September shipments from American steel mills decreased vs. shipments in August, according to the latest monthly data from the American Iron and Steel Institute (AISI).
Cleveland-Cliffs Inc. said on Tuesday that it had raised minimum base prices for hot-rolled coil (HRC) to $1,000 per ton ($50 per cwt).
SMU gives an overview of the steel market and economic indicators for October.
You could make a case that Nov. 1 was April Fool’s Day for steel – or at least for the widespread rumor that Cliffs would announce a $10-billion deal for U.S. Steel on that date. I’m not going to endorse any precise date or price tag. But I’d be surprised if a deal – or […]
It’s time to register for the Tampa Steel Conference 2024, easily one of the premiere North American steel events. It’s a can't-miss steel industry conference, especially following the record-breaking attendance at SMU’s Steel Summit 2023 this past August.
The announcement that Republic Steel in Canton, Ohio, is going to permanently cease operations disappointed many scrap suppliers in Ohio and Pennsylvania.
There was consensus that steel prices would crash on the UAW strike and then rebound just as sharply once the union and the “Big Three” automakers reached tentative deals.
Arkansas-based metals processor Boyd Metals, is expanding its footprint at its Little Rock, Ark., facility.
Ryerson Holding Corp, has acquired non-ferrous metals distributor TSA Processing.
US hot-rolled coil (HRC) tags moved higher again this week, widening the gap in pricing between imported offshore product.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, the UAW strike, and what people were talking about in the market.
Nucor’s plate price cut notice caught many off guard this week, especially after the company had maintained its pricing position in late September.
ArcelorMittal joins U.S. Steel and Cleveland-Cliffs, pushing sheet prices higher, according to an internal commercial memo on Oct. 31.
Sheet prices are getting back into very lofty territory. That’s assuming you can find spot tons available for the balance of 2023 – and some of you say you can’t.