Tag: Sheet

CRU's Josh Spoores takes a deep dive into the HR futures market.

Market reaction to Nucor’s move was mixed. Some sources said a flat CSP reflected concerns that further increases in US HR prices could attract more import competition. Others expressed frustration. Their view: CSP has kept a lid on prices, something that shouldn’t happen when many buyers remain more concerned about availability than price.

The American Iron and Steel Institute (AISI) reports that US mill shipments increased 6.2% in May from April. 

The investigation follows requests from US producers Nucor and Steel Dynamics.

Hot-rolled coil spot market participants told SMU they see no evidence of the market softening in the near term.  

We’ve gotten so used to the slow, steady increases by now that $5/ton feels like the new flat. And flat, after so many consecutive weeks of gains, feels like a decrease.

Hot-rolled (HR) coil and plate prices continued to tick higher even as cold-rolled (CR) and coated prices came in unchanged, according to SMU’s latest check of the market.

Wells Fargo's Timna Tanners thinks the steel price rally will be falling off as we get further into the second half.

Nucor held its consumer spot price (CSP) for hot-rolled (HR) coil at $1,130 per short ton (st) for the week of June 29. The sideways move is the first of its kind since Jan. 21.

Some hot-rolled coil buyers expect continued incremental price increases from domestic mills. Others expect steeper increases, even if it risks inviting imports.

“Ohio Strip Steel reflects who we are today and where we’re going,” the Dover, Ohio-based company said.

Steel mill lead times remained extended this week on both sheet and plate products. Current production times three to four weeks longer than levels seen last summer.

Steel buyers negotiation rates remain at or near historic lows across most sheet and plate products.

Participants in the domestic plate market anticipate incoming price notifications before the end of the month, SMU learned in recent conversations. 

US sheet prices continue to move higher on extremely limited spot availability, solid demand, and extended lead times.

Nucor announced on Monday, June 22, that its consumer spot price (CSP) for hot-rolled coil will be $1,130 per short ton for the week, up $5/st from last week. 

Hot-rolled coil market participants report little disruption to their contact volumes, finding timely spot HR proved less straightforward, some sources told SMU. 

SMU’s Steel Demand Index ticked back up from late May, remaining in elevated territory, according to mid-June indicators.

The spread between domestic hot-rolled coil and prime scrap prices continued to widen in June, a trend that began in September.

SMU’s sheet price indices increased further this week, while plate held steady, all at multi-year highs.

US steel exports improved 2% from March to April to the highest monthly volume seen in 13 months. Although up, trade remains historically low

SMU and AMU are pleased to announce that Wells Fargo Managing Director Timna Tanners will be joining us for a Community Chat webinar on Wednesday, June 24, at 11 am ET.

US service centers’ flat-rolled steel supply declined for a fourth straight month in May, with shipping days of supply slipping to 44.7 on an adjusted basis, according to SMU data.

Nucor announced on Monday, June 15, that its consumer spot price (CSP) for hot-rolled coil will be $1,125 per short ton (st) for the week, up $10/st from last week.

Summer doldrums? Not this year! SMU’s latest steel market survey indicates that an increasing number of steel buyers think prices will continue to rise along with the mercury.

Steel mill lead times extended this week on both sheet and plate products, now at multi-year highs.

All five of SMU’s price indices increased this week to new multi-year highs. Prices have increased by 20-25% since the beginning of the year.

The American Iron and Steel Institute (AISI) reports that US steel shipments fell from March to April.

Nucor announced on Monday, June 8, that its consumer spot price (CSP) for hot-rolled coil will be $1,115 per short ton (st) for the week, up $10/st from last week.

We are happy to share that the SMU Price Estimator Tool is now a little easier to navigate.