Tag: Sheet

The volume of steel exported from the country declined in October for the second-consecutive month, following a one-year high in August.

Steel prices have remained relatively stable in recent weeks, though they have generally trended downward since October.

Production times are marginally higher than those seen in recent weeks, now closer to levels witnessed throughout October.

A high percentage of the steel buyers we polled this week continue to respond that mills are open to price negotiation for new spot orders. Rates have been high for the majority of the year.

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.

Cleveland-Cliffs has officially had spot HRC prices at $750/st since mid-September.

SMU's price indices saw minor fluctuations on sheet products this week, while our plate and Galvalume indices held steady.

On Monday, Nucor published new extras effective Jan, 4, 2025.

Steel buyers participating in our market survey this week reported stable mill lead times for both sheet and plate steel products.

Most steel buyers SMU polled this week reported that mills remain willing to negotiate new order pricing.

SMU’s flat-rolled steel prices were mixed this week with slight declines across most products and a modest increase in prices for cold-rolled coil.

Flat rolled = 63.4 shipping days of supply Plate = 52.4 shipping days of supply Flat rolled shipments and inventories Flat-rolled steel supply at US service centers remains seasonally high. October inventories increased after edging lower in September – a dynamic driven largely by disappointing demand. October’s report reflects lower demand and stable lead times […]

President-elect Donald Trump will officially retake the White House on Jan. 20. I’ve been getting questions about how his administration’s policies might reshape the steel industry and domestic manufacturing. I covered the tumult and norm busting of Trump's first term: Section 232, Section 301, USMCA - and that's just on the trade policy side of things. It's safe to say that we'll have no shortage of news in 2025 when it comes to trade and tariffs.

Prices for sheet and plate products were mixed this week. While market participants have noted a post-election uptick in activity, most said that it was (so far) nothing to write home about.

After rising to a one-year high in August, the volume of steel that exited the country in September fell 10% month on month (m/m) to 760,000 short tons (st).

September steel imports were 10% less than August levels, marking the lowest monthly import rate seen this year

Most steel buyers polled in our market poll this week continue to report mills are open to negotiation on new order pricing.  In fact, negotiation rates have been strong for the majority of 2024, trending higher since September.

Timna Tanners, managing director of equity research for Wolfe Research, will be the featured speaker on the next SMU Community Chat. The webinar will be on Wednesday, Nov. 13, at 11 am ET. It’s free to attend. You can register here. Timna – 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.

Votes were still being counted when this column posted on Tuesday evening. And I’d be surprised if we know who the president will be by the time some of you are reading it on Wednesday morning.

SMU price indices edged lower this week for all products but one, marking the fifth consecutive week of overall declining prices.

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.

Nucor said it is seeking $740 per short ton (st) for hot-rolled (HR) coil this week, up $20/st from last week. USS, meanwhile, is shooting for up $30/st for sheet products in general. (USS did not announce a target price for HR.)

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.

Nucor has raised its weekly consumer spot price (CSP) for hot-rolled (HR) coil by $20 per short ton (st), now at $740/st as of Monday, Oct. 28.

U.S. Steel plans to increase sheet prices by at least $30 per short ton (st). That's something we haven't seen for a while.

More than nine out of every 10 steel buyers polled by SMU this week reported that mills are flexible on prices for new orders. Negotiation rates have been strong since April and on the rise since early September.

Mill lead times have declined on both sheet and plate products this week, according to steel buyers responding to our latest market survey,

U.S. Steel aims to increase spot prices for all new orders of flat-rolled steel by at least $30 per short ton (st), according to an internal letter dated Thursday.