Cleveland-Cliffs said it will open its April order book for spot material at $900 per short ton (st). The Cleveland-based steelmaker said the increase was necessary because of “rapidly changing market conditions” in a letter to customers dated Friday, Feb. 21.
Buyers responding to our latest market survey reported that steel mill lead times were stretching out this week for sheet and plate products tracked by SMU. The results weren’t much of a surprise. Production times have begun moving out following a wave of frenzied buying in response to stricter Section 232 announced by the Trump […]
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.
Flat rolled = 66 shipping days of supply Plate = 54.3 shipping days of supply Flat rolled US service center flat-rolled steel supply declined in January month on month (m/m) but is up about 10% year on year (y/y), according to SMU data. At the end of January, US service centers carried 66 shipping days […]
Each of the steel product prices tracked by SMU saw significant increases this week. All four of our sheet price indices rose by $30-50 per short ton (st) on average. Plate prices popped $60/st compared to the week prior.
While we have seen some movements in recent weeks, steel mill production times remain within a few days of the historical lows observed over the last two years, a trend observed since mid-2024.
There's a lot of production waiting to come online
ArcelorMittal is targeting a minimum base price of $800 per short ton (st) for hot-rolled coil. The steelmaker is also seeking $1,050/st for cold-rolled product and $1,000/st for coated material, according to a letter to customers dated Wednesday.
SMU’s steel price indices rose across the board this week. Sheet prices increased as much as $35 per short ton (st) compared to last week, while our average plate price ticked up by$10/st.
SMU’s Monthly Review provides a summary of important steel market metrics for the previous month. Our latest report includes data updated through January 31st.
The projects collectively represent ~65% of Nucor’s capital expenditures budget for this year.
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 […]
Steel Dynamics Inc. (SDI) remains upbeat about progress at its Sinton, Texas, sheet mill and expects it to be profitable in the upcoming months. “The Sinton team gained considerable momentum in the last two months—running above 80% capacity—and they are doing even better in January, with expectations to reach profitability in the coming months,” SDI Chairman and CEO Mark Millett said in a Q4’24 earnings call on Thursday.
Steel mill lead times were mixed across the sheet and plate products SMU tracks, according to buyers responding to our latest market survey.
Sheet and plate prices remained in a holding pattern this week as the market awaited more specifics on potential Trump administration tariffs.
Flat rolled = 77.1 shipping days of supply Plate = 58.1 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers ballooned in December with higher inventories as well as seasonally lower shipments. At the end of December, service centers carried 77.1 shipping days of flat-rolled steel supply on an adjusted basis, […]
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 […]
The amount of steel exiting the country continued to decline through November, falling to an 11-month low, according to the latest US Department of Commerce data. This is the third month in a row that steel exports have eased and the second-lowest monthly rate recorded in almost two years.
Buyers participating in our first market survey of 2025 reported a slight decline in mill lead times compared to our last survey in mid-December. After rising moderately in early December, lead times edged lower through this week and are now only slightly above the lows seen back in July and November. Overall, production times have remained historically short since last summer, with minimal movement since then.
Steel buyers say mills remain open to negotiation on sheet and plate spot prices this week, slightly more so than in mid-December, according to our most recent survey results.
Hyundai Motor Group is reportedly considering building a sheet steel mill just south of Baton Rouge, La.
Steel mill production times have seen very little change since September, according to buyers participating in our latest market survey.
Steel buyers of sheet and plate products say mills are still willing to bend on spot pricing this week, though not quite as much as they were two weeks prior, according to our most recent survey data.
We have seen very little change in sheet and plate prices across the past month.
Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact info@steelmarketupdate.com. Flat rolled = 61.4 shipping days of supply Plate = 50.5 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers remains seasonally high. November inventories edged down […]
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.