Steel Products Prices North America
Steel Imports Jump 7.1% Through May
Written by Tim Triplett
June 25, 2021
U.S. steel imports through the first five months of 2021 totaled 11,780,000 net tons, a 7.1% increase from the same period last year, based on preliminary Census data reported by the American Iron and Steel Institute (AISI). Of that, finished steel imports amounted to 7,966,000 tons, an 8.8% increase, as buyers in the U.S. were forced to place more foreign orders when domestic supplies fell short of their needs.
The U.S. imported 2,513,000 net tons of steel in May, including an 11.3% increase in finished steel imports versus the prior month to 1,845,000 tons.
Annualized, total steel imports are on track to rise by 28.4% and finished steel imports by 18.5%, according to AISI’s calculation. Market share of finished steel imports in May was an estimated 20%.
Key finished steel products that have seen significant increases in imports year to date include hot rolled sheets (up 42%), sheets and strip all other metallic coatings (up 30%), cut-length plates (up 30%), plates in coils (up 28%), tin plate (up 17%), wire drawn (up 16%), and sheets and strip galvanized hot dipped (up 12%).
Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America
Nucor raises hot rolled spot price to $750/ton
Nucor raised its weekly consumer spot price (CSP) for HRC this week to $750/short ton.
SMU price ranges: Most sheet and plate products drift lower
Steel sheet prices mostly edged lower for a second week, while plate prices slipped for the third consecutive week.
Nucor drops HRC price to $720/ton
After holding its weekly spot price for hot-rolled (HR) coil steady for three weeks at $730 per short ton (st), Nucor lowered the price this week by $10/st.
SMU price ranges: Sheet slips, plate falls to 45-month low
Steel sheet and plate prices moved lower this week as efforts among some mills to hold the line on tags ran up against continued concerns about demand.
CRU: US longs prices remain mostly flat in October
CRU Senior Steel Analyst Alexandra Anderson shares insight into the current market for long steel products.