US Hot Rolled Prices Surge Past Offshore Product
Hot-rolled coil (HRC) tags continue to rally in the US, broadening the price disparity between domestic and imported offshore product.
Category: Steel Prices
Nucor Boosts Sheet Prices, Seeks $950/ton HRC
Nucor Corp. announced this morning that it is joining Cleveland-Cliffs, aiming to increase prices for hot-rolled steel (HRC) and heavy gauge hot-rolled products, effective immediately.
SMU Price Ranges: Sheet Skyrockets, Plate Stumbles
Spot prices for steel sheet continued to shoot upward this week, which brought yet another round of price hikes.
Cliffs Lifts Sheet Prices, Seeks $1,000/ton HRC
Cleveland-Cliffs Inc. said on Tuesday that it had raised minimum base prices for hot-rolled coil (HRC) to $1,000 per ton ($50 per cwt).
SDI Subsidiary OmniSource Buys Site Near Houston
Steel Dynamics Inc. (SDI) scrap subsidiary OmniSource has acquired a 55-acre rail-served tract near the Port of Houston to expand its metal recycling operations along the Gulf Coast.
CRU Aluminum: Scrap Flows Remain Global Issue as Market Prepares for 2024
The LME aluminum three-month price was unchanged on the morning of Nov. 3 and was seen trading at $2,235 per tonne.
AISI: The Environment Is a Trade Issue - Why Carbon Tariffs Are Needed
The American steel industry is the backbone of the US economy and produces the cleanest steel in the world.
November Scrap Prices Up at Large Detroit-Area Buyer
A large Detroit-area scrap buyer has settled scrap prices for November, with busheling, shredded, and plate and structurals (P&S) all notching gains vs. October, a scrap source told SMU.
Ferrous Scrap: Republic Steel Closing - End of an Era
The announcement that Republic Steel in Canton, Ohio, is going to permanently cease operations disappointed many scrap suppliers in Ohio and Pennsylvania.
Gap Widens Between US and Foreign Hot Band Prices
US hot-rolled coil (HRC) tags moved higher again this week, widening the gap in pricing between imported offshore product.
AM/NS Calvert Increases Sheet Again, Seeks $900/ton HR base
ArcelorMittal joins U.S. Steel and Cleveland-Cliffs, pushing sheet prices higher, according to an internal commercial memo on Oct. 31.
SMU Price Ranges: Sheet Surges on Limited Spot Availability, Plate Drops on Nucor Decrease
Sheet prices surged this week on limited spot tonnage and on the heels of steep price increases announced by domestic mills.
Cleveland-Cliffs Raises Sheet Prices, Seeks $900/ton for HRC
Cleveland-Cliffs said Tuesday that it would increase spot market base prices for carbon hot-rolled, cold-rolled, and coated steel sheet.
Nucor Drops Plate Prices $140/ton on Import and Domestic Competition
Nucor’s plate mill group (NPG) will cut prices for as-rolled discrete plate and normalized plate by $140 per ton ($7 per cwt). The Charlotte, N.C.-based steelmaker said it would also drop prices for quenched-and-tempered plate by $80 per ton. Nucor said the lower prices would be effective with new orders received on Wednesday, Oct. 31. […]
Ferrous Scrap: Export Market Report
The ferrous export market in the US has experienced several geopolitical events and natural disasters during 2023.
US Rig Count Increases, Canada's Slips
The active rig count for the week ended Oct. 27 inched up in the US but edged down in Canada, according to oilfield services provider Baker Hughes.
CRU Aluminum: Relief Comes With Word of Pending UAW Deal
With the aluminum industry assembled in Nashville, Tenn., for the Aluminum USA 2023 conference, word was breaking of a tentative deal between the United Auto Workers (UAW) and Ford.
HRC Futures Go Vertical
These were the headlines hot off the press Wednesday night:
SMU Survey: Mills Less Willing To Talk Price on Sheet, Plate More So
Steel buyers said mills are less willing to budge on spot pricing for sheet products, but plate bucked this trend, according to SMU’s most recent survey data.
Radius Recycling Optimistic Despite Tight Market
Radius Recycling thinks that an end to the UAW strike could relieve pressure on a tight domestic scrap market. Scrap supplies have fallen because of lower manufacturing, construction, and demolition activity as well as “the slowing economy overall,” Radius chairman, president, and CEO Tamara Lundgren said. Inflation and higher interest rates have contributed to that […]
SMU Price Ranges: Sheet Up as Price Hikes Gain Traction
Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.
AM/NS Calvert, Stelco Follow Major Sheet Mills Higher
ArcelorMittal and Stelco joined last week’s move by domestic mills to push sheet prices higher.
November Scrap Tags Seen Mostly Sideways, Sources Say
As the ferrous scrap market in the US enters the home stretch for 2023, it faces an array of issues and uncertainties.
HRC Futures: A Swing in the Market
Well, what a difference a month makes…
U.S. Steel Raises Sheet Prices by $100/ton
U.S. Steel on Thursday said it planned to increase spot base prices for steel sheet by at least $100 per ton ($5 per cwt).
Domestic HRC Prices Surpass Foreign Hot Band
US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.
Cleveland-Cliffs Ups Sheet, Aims for $800/ton HR Price
Cleveland-Cliffs said on Thursday it's targeting a minimum base price for hot-rolled steel of $800 per net ton ($40 per cwt).
SMU Price Ranges: Sheet Prices Up Again, But Outlooks Diverge
Sheet prices notched a third consecutive week of gains on limited supply and stable demand outside of automotive operations impacted by the UAW strike.
CRU: Ore-Based Metallics Prices Mixed as Demand Weakens
Prices for ore-based metallics were mixed month-on-month (MoM) as lower finished steel production weighs on pig iron demand.
Prime Scrap, HRC Spread Increases in October
The spread between hot-rolled coil (HRC) and prime scrap prices widened slightly this month, according to SMU’s most recent pricing data.