Steel Products Prices North America
Spread Between Domestic & World HRC Pricing Shrinks
Written by Brett Linton
February 27, 2014
A few weeks back Steel Market Update published an article on World Export Price vs. Domestic HRC Pricing. Here is an update with a comparison of current prices.
The latest SMU HR price was at $635 per net ton (NT) average, and using the world export price as reported by SteelBenchmarker plus $70 per ton in freight, we can calculate the true world export price to the customer at $578 per NT. This puts the spread around $47 per ton, much less than the $75 per ton reported in early February when domestic was $655 compared to $580 world export price delivered to US ports (depending on freight the spread could be slightly higher).
At $47 to $60 per ton the spread is no longer attractive to most domestic buyers unless there is a port freight advantage vs. domestic mill.
The spread between the domestic and world export price with freight peaked at $93 per NT on November 26th, 2013. Since our last article, the spread has fallen from $75 to $57 per NT.
Brett Linton
Read more from Brett LintonLatest in Steel Products Prices North America
Nucor slows HRC price climb with $5/ton increase
After eight weeks of double-digit price increases on hot-rolled (HR) coil, Nucor slowed the price rise this week with an increase of $5 per short ton.
Domestic CRC prices surge ahead of imports
The price spread between stateside-produced CR and imports reached its widest margin in over a year.
Evraz raises plate prices $160/ton
Evraz North America (NA) has followed Nucor and SSAB with a plate price increase of its own: up $160 per short ton (st). The increase was effective immediately for all new orders of carbon, high-strength low-alloy, and normalized and quenched-and-tempered plate products, as well as for hot-rolled coil, the steelmaker said in a letter to […]
Nucor lifts HR coil to $820/ton
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.
Nucor pushes HR spot price to $790/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $790 per short ton (st) on Monday, Feb. 10 – a $15/st bump vs. last week. The Charlotte, N.C.-based company has raised its weekly CSP by $40/st over the past three weeks after maintaining tags at $750/st since Nov. 12, according to SMU’s […]