LME Aluminum Continues To Trade Under Pressure; US Midwest Premium Stays Between 19–19.5¢/lb The LME aluminum 3-month price continued to trade under pressure on the morning of 20 October and was last seen trading at $2,177/t. The US Midwest premium showed no surprise as it continued to sit between 19–19.5 ¢/lb. The UAW strikes are […]
Annual contract negotiations between buyers and mills in the US flat-rolled steel market are picking up pace as both look to lock in volume for the coming year. As these contracts are finalized, we expect that changes in the market will impact how 2024 contracts are ultimately structured. The primary change in the market is […]
Steel Dynamics Inc. provided an update on the four new coating lines it is adding to its Heartland flat rolled processing mill and Sinton sheet mill on its third-quarter earnings conference call with analysts on Thursday, Oct. 19.
U.S. Steel on Thursday said it planned to increase spot base prices for steel sheet by at least $100 per ton ($5 per cwt).
US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.
Cleveland-Cliffs said on Thursday it's targeting a minimum base price for hot-rolled steel of $800 per net ton ($40 per cwt).
Nucor Corp. aims to raise base prices for hot-rolled coil to a minimum of of $800 per ton ($40 per cwt).
Steel Dynamics Inc. (SDI) reported a drop in third quarter profits on lower prices for flat-rolled steel as well as for fabricated products.
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.
If you think prices will continue to rise, you might point to longer lead times and stable order entry.
Sheet prices notched a third consecutive week of gains on limited supply and stable demand outside of automotive operations impacted by the UAW strike.
U.S. Steel, in collaboration with DuPont, announced on Tuesday a new product, COASTALUME™, engineered specifically for coastal environments.
Nucor’s President and CEO Leon Topalian has been named the new chairman of the World Steel Association (worldsteel).
US service center flat-rolled steel inventories declined for a second month as shipping rates picked up in September.
SMU’s latest survey data are out, and they reflect a consensus among steel buyers that sheet prices have bottomed out and might rebound. Lead times continue to extend. Fewer sheet and plate mills are willing to negotiate lower spot prices. And 70% of survey respondents think prices have already bottomed out or will later this […]
The latest data from oilfield services provider Baker Hughes shows the number of active rotary rigs in the US and Canada bounced back during the week ended Friday, Oct. 13.
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, […]
The sheet market appears poised for a rebound if you’re looking at the indicators we typically track.
The mill negotiation rate for all products SMU looks at fell this week, with hot rolled dropping 13 percentage points, according to our most recent survey data.
US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.
Steel Dynamics Inc. (SDI) plans to take a four-day outage at its sheet mill in Butler, Ind., according to sources familiar with the matter.
This week’s survey showed steel mill lead times extending across all product lines tracked by SMU.
Sheet prices remain on an upward trend. Many of you expect that to remain the case - assuming that the UAW strike doesn’t drag on much longer.
Sheet prices moved upward for the second week in a row despite the ongoing UAW strike and concerns in some corners that momentum from a price hike last month might be fading, market participants said.
The US and European Union will continue trade talks on Friday, Oct. 20, according to a statement from the European Council.
US raw steel production dropped for the week ending Oct. 7, according to data released by the American Iron and Steel Institute (AISI) on Monday, Oct. 9.
The 2023 term continues a series of very eventful Supreme Court sessions, similarly to 2021 and 2022 terms.
A slowdown in US steel imports has yet to be seen, as total import licenses in September were about even with August’s import levels.
Shipments from US steel mills ticked up in August vs. July and stayed level year over year, according to the latest monthly data from the American Iron and Steel Institute (AISI).
The US steel market appears to have gone from despairing over the possibility of spot HRC prices slipping into the $500s per ton to worrying about spot availability – and in just a matter of 2-3 weeks.