Sheet and plate prices increased yet again this week on an increasingly tight spot market. It's gotten so tight that some market participants say they're becoming more concerned about availability than about price.
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil to $1,045 per short ton (st), a $5/st bump from last week.
Remember the “Got Milk?” advertising campaign of the 1990s. Maybe we should start a “Got Steel?” campaign. Or maybe “Got Spot Tons?” would be more accurate, if less catchy.
Sheet market participants said they expect hot-rolled coil prices to continue to rise. A Midwest service center source said some mills are not taking spot orders. And even on the contract side, certain mills are “keeping customers at the ‘middle’ of their contract buys to help get lead-times back into shape,” he said. That’s a […]
The Middle East conflict continues to be the principal factor in rising prices, as its impact is now being felt throughout the supply chain. Coated sheet prices have borne the larger brunt of the impact. This is despite...
Plate market participants we spoke to this week offered a long list of concerns: escalating fuel and freight expenses, consolidated sources of end-market demand, tariff-related complications, as well as long lead times and delivery delays from US mills. The cherry on top? An ever shrinking availability of spot tons from domestic mills.
Algoma Steel aims to increase plate prices by US$60 per short ton (CA$80/st), effectively immediately, according to a letter to customers dated Thursday.
More people expect hot-rolled (HR) coil prices to continue to climb. And most respondents to our last survey predict that prices will hit or even breach the $1,100 per short ton (st) threshold.
At least two major US plate producers - SSAB Americas and Nucor - plan to increase plate prices by at least $60 per short ton (st).
Spot market participants worry that limited availability for certain grades of domestically produced plate will extend lead times even further.
Most steel buyers report that mills are not willing to negotiate on new order spot prices, according to our latest market survey. Mill negotiability is now down to one of the lowest rates measured in over a year.
Sheet and plate prices were flat or modestly higher this week, continuing a trend we’ve seen since the beginning of Q4. The big question: How much longer can the trend hold?
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil to $1,035 per short ton (st), a $10/st bump from last week.
Prices for iron ore, aluminum, pig iron, and shredded scrap have all risen in the last 30 days. Busheling scrap held steady, while zinc and coking coal declined.
Most steel buyers see prices continuing to inch higher on stable or improving demand. But some are concerned higher energy prices stemming for the Iran war could dent the overall economy.
The price gap between US hot-rolled coil (HR) and landed offshore product remained within a tight band this week. The dynamic continues as both stateside and offshore prices have trended higher.
Sheet prices continue to inch higher. And people who once thought hot-rolled coil (HR) prices couldn’t go above $1,000 are now saying $1,100 doesn’t seem out of the question.
The pace of sheet and plate price increases slowed this week, with most products holding at some of the highest levels seen in over a year.
Nucor raised its consumer spot price (CSP) for hot-rolled (HR) coil to $1,025 per short ton (st), up $10/st from last week.
Plate market sources say the week has been quiet, but that overall, business remains consistent.
Steel buyers remain highly optimistic for their businesses’ chances for current and future success, according to SMU’s latest Steel Buyers’ Sentiment Indices.
As spot prices for hot- and cold-rolled coils edge higher, mill capacity utilization rates hover below 80%, raising concern among some market participants.
Most steel buyers report that domestic mills are unwilling to negotiate price on new sheet and plate spot orders.
Prices for both sheet and plate products climbed higher this week, with some rising to multi-year highs, according to SMU's latest market canvass.
Domestic plate market participants expressed confidence in the overall improvement of market conditions this week.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.
Nucor Plate Group notified customers it is increasing prices on all rolled products by $40 per short ton (st) and $60/st on all heat treat products.
The spread between domestic hot-rolled coil and prime scrap prices widened in March, marking a six-month trend.
SMU's sheet and plate prices were flat or higher this week in a US market that remains characterized by extended lead times and limited spot availability.
Nucor’s consumer spot price (CSP) for hot-rolled coil increased to $1,010 per short ton (st), up $5/st from last week.