Reliance to buy certain assets of Mississippi toll processor
Reliance Inc. has reached an agreement to buy certain assets of Ferragon Corp.'s FerrouSouth division, a toll processing operation based in Iuka, Miss.
Tag: shipping
Imported CR still cheaper despite declining US prices
Offshore cold-rolled (CR) coil remains cheaper than domestic product. The gap continues to tighten, however, as US CR coil prices slip to a nine-month low. Domestic CR coil tags averaged $960 per short ton (st) in our check of the market on Tuesday, July 9, down $5/st from the week before. CR tags are now […]
SMA Op-Ed: Stop building renewable energy infrastructure with high-emission imports
Renewable energy infrastructure, including wind turbines, solar farms, and electric-vehicle charging stations, requires substantial amounts of steel. The domestic steel industry, with its capacity to produce world-class steel with the world’s smallest carbon footprint, should be at the forefront of this supply chain. Yet the United States is increasingly importing steel from abroad to meet its renewable energy needs.
Sliding US HRC prices fall further below imports
US hot-rolled (HR) coil prices continued to drift lower this week, falling further below imported hot band tags on a landed basis. SMU’s check of the market on Tuesday, July 9, put domestic HR coil tags at $650 per short ton (st) on average, down $15/st vs. last week. Domestic HR coil prices are now […]
Flooding on the Mississippi forces lock closures
Flood-level waters have prompted the US Army Corps of Engineers (USACE) to close locks on the Mississippi River.
US HRC prices keep sliding, moving further below imports
US hot-rolled (HR) coil prices fell again this week – now on a 13-week run – causing tags to drift further below offshore hot band prices on a landed basis.
SMU survey: Lead times remain short, nearing 9-month lows
Steel mill lead times remain near some of the lowest levels witnessed in months, according to our latest market canvass to steel service centers and manufacturers.
US CR prices move lower, but imports remain cheaper
Offshore cold-rolled (CR) coil remains cheaper than domestic product pricing even as US CR coil prices slip to an eight-month low. Domestic CR coil tags stood at $975 per short ton (st) on average in our check of the market on Tuesday, June 25, down $20/st from the week before. Domestic CR prices are, on […]
US HRC prices keep slipping, now cheaper than imports
US hot-rolled (HR) coil prices have continued to drift lower, pushing them further below offshore hot band prices on a landed basis.
US CR prices dip, but imports remain cheaper
Offshore cold-rolled (CR) coil prices are cheaper than domestic product despite US CR coil prices ticking lower. Domestic CR coil tags stand at $995 per short ton (st) on average, down $25/st vs. our prior check of the market on Tuesday, June 18. (We will update prices again on Tuesday, June 25.) All told, US […]
Reibus: Could seasonal shipping peaks drive up spot market rates?
Flatbed rates remain roughly 20% higher than dry van but have stayed relatively calm for the first half of 2024, rising just 5% in the first half of the year and remaining negative on a year-over-year basis.
Algoma feels sting of unplanned outage, looks to greener future
Algoma Steel’s quarterly and full-year results took a hit from an unplanned blast furnace outage earlier this year. However, with a modernized plate mill and two new EAFs slated to come online by the end of this year, the Canadian flat-rolled steel producer is looking to a greener future.
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]
SMU survey: Lead times remain short, HR and plate at 8-month lows
Steel mill lead times remain short for all steel products tracked by SMU, according to our latest market survey. Service center and manufacturers continue to report short to normal lead times for sheet and plate products.
US HRC prices now cheaper than imports
US hot-rolled (HR) coil prices fell further this past week, pushing them below offshore hot band prices on a landed basis.
May service center shipments and inventories report
Flat Rolled = 60.6 Shipping days of supply Plate = 61.1 Shipping days of supply Flat Rolled US service center flat-rolled steel supply rose in May with a drop-off in shipments. At the end of May, service centers carried 60.6 shipping days of supply on an adjusted basis, up from 57.8 shipping days of supply […]
US CR prices see little change, still well above imports
Offshore cold-rolled (CR) coil prices have changed little, but they are still notably cheaper than domestic product. That remains the case even as US CR coil prices ticked lower this week.
US and offshore HRC prices now even
US hot-rolled (HR) coil prices fell further this past week, bringing them even with offshore hot band prices on a landed basis.
Friedman earnings fall, lower margins expected
Friedman Industries reported lower earnings in its fiscal fourth quarter, and the company expects first-quarter margins to be lower than Q4 margins due to declining HRC prices.
Maritime union suspends labor talks over automation dispute
Contract negotiations between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) have soured.
US CR prices still more expensive than imports
Offshore cold-rolled (CR) coil prices remain notably cheaper than domestic product. That remains the case even as US CR coil prices continue to tick lower.
SMU survey: Summer slowdown brings short to normal mill lead times
Movements in steel mill lead times were mixed this week, according to our latest steel buyers survey results. Service centers and manufacturers reported short to average production times, little changed from our last report.
Domestic and offshore HRC prices inch closer to parity
US hot-rolled (HR) coil prices ticked down again this past week, nearly reaching parity with offshore hot band prices on a landed basis. This week, domestic HR coil tags were $730 per short ton (st) on average based on SMU’s latest check of the market on Tuesday, June 4. Domestic HR coil prices are now […]
Final thoughts
When you step out of the airport in Phoenix in June, the heat tends to focus your mind. I was in town to attend the Steel Manufacturers Association/Metals Service Center Institute (MSCI) annual meeting in Scottsdale, Ariz. The desert locale with palm trees, swimming pools, and the obligatory high-powered air conditioning was fitting for 2024. Between the presidential election and the geopolitical situation, things have definitely been heating up.
Domestic CR prices remain well above imports
Offshore cold-rolled (CR) coil prices remain significantly cheaper than domestic product. That remains the cause even as US CR coil prices continued to tick lower. All told, US CR prices are now 17.6% more expensive than imports. While still high, that premium is down from 19.4% last week and down from 31.5% in early January.
CRU: Sheet price stability seen in most regions outside of the US
Steel sheet prices across most regions of the world were little changed this week. European buyers remain cautious regarding their outlook towards end-use demand and largely remained out of the market. A similar trend was seen across Asia, although skepticism on real estate stimulus measures in China led to w/w price falls. In the US, […]
Metalformers’ business outlook worsens
Most metalformers expect economic activity to be level to down over the next three months, according to the May Business Conditions Report from the Precision Metalforming Association (PMA).
Domestic and offshore HRC prices nearly even
US hot-rolled (HR) coil prices ticked down further this past week, moving closer to parity with offshore hot band prices on a landed basis. This week, domestic HR coil tags were $750/st on average based on SMU’s latest check of the market on Tuesday, May 28.
US CR tags move lower, still much higher than imports
Offshore cold-rolled (CR) coil prices remain a cheaper option over domestic product, even as US CR coil prices tick lower, according to SMU’s latest check of the market.
US HR prices near parity with offshore imports
US hot-rolled (HR) coil prices declined again and now stand nearly even with offshore hot band on a landed basis.