Category: Steel Prices

The spread between hot-rolled coil (HRC) and prime scrap prices continued to narrow this month, according to Steel Market Update’s most recent pricing data.

US hot-rolled coil (HRC) continues to lose ground against imported hot band. Domestic product remains a better deal than offshore HRC as US tags sink further, according to SMU’s latest foreign vs. domestic price analysis.

Sheet prices fell across the board ahead of what many market participants predict will be a strike by the United Auto Workers (UAW) later this week.

US hot-rolled coil (HRC) is now a better deal than imported hot band, something we haven't seen since early February, according to SMU’s latest foreign vs. domestic price analysis.

Nucor Corp. will lower plate prices by $40 per ton ($2 per cwt) with the opening of its October order book.

Domestic hot-rolled coil (HRC) is now cheaper than imported hot band as US tags have fallen further and at a faster clip than offshore product, according to SMU’s latest foreign vs. domestic price analysis.

Scrap sources had a mixed outlook for US scrap prices for September.

Sheet prices have fallen this week, after a small pause last week when prices saw mixed results. Tags have now been largely trending lower since July.

Leading voices in US the scrap industry discussed the current outlook and future challenges at Steel Summit 2023’s panel on Scrap and Metallics: Navigating the Boom in EAF Sheet Production.

Three prominent steel analysts proposed their outlooks for next year in the Steel Price Forecast: Boom or Bust in 2024? panel at Steel Summit 2023 in Atlanta.

Over the first three months since Flack started contributing a futures column to SMU, the first sentence has started with some version of “What a month!”

Domestic and imported hot-rolled coil (HRC) prices are nearly parallel as US tags continue to erode at a faster clip than offshore prices, according to SMU’s latest foreign vs. domestic price analysis.

Sheet prices were mixed this week after trending lower for most of July and earlier in August. SMU’s average hold-rolled coil (HRC) price slipped to $750 per ton.

The spread US hot-rolled coil (HRC) prices had held over offshore product for much of the year has almost evaporated, according to SMU’s latest foreign vs. domestic price analysis.

Sheet prices slipped again, continuing a trend of lower week-over-week tags that began in mid-July.

The US scrap market showed some stability in August, with prices mostly sideways on busheling and shredded grades, and HMS prices ticking up from the previous month, sources said.

The spread between US and offshore hot-rolled coil (HRC) prices continues to narrow as domestic tags have declined further, according to SMU’s latest foreign vs. domestic price analysis.

Sheet prices were mixed this week with hot-rolled coil (HRC) and galvanized base prices slipping again even as cold-rolled tags inched up.

The summer cycle has brought more focus around the uncertainty of where HR prices are headed.   Spot indexes continue to bleed lower despite price hikes from sheet mills. Market talk is of still lower prices as the gap grows between the slow-moving index versus expectations for HR future prices declines. (The index likely reflects smaller, […]

The spread between US and offshore hot-rolled coil (HRC) prices has narrowed to its lowest level since mid-February, when domestic prices were still trending upwards, according to SMU’s latest foreign vs. domestic price analysis.

Sheet prices slipped for the third consecutive week on continued discounts from certain mills for larger buyers.

August could see US scrap prices stabilizing, or even rising, depending on the grade or region, scrap sources told SMU.

US raw steel production inched up for a third consecutive week, according to data released by the American Iron and Steel Institute (AISI) on Monday, July 31. Steel production in the US increased to 1,749,000 net tons for the week ended July 29, up 0.5% from 1,741,000 net tons the previous week. US production is 1.6% higher […]

The LME aluminum three-month price is moving higher again, closing the week on the morning of July 28 at $2,215 per tonne. The previous day, the price dropped sharply at the close and briefly moved below $2,200/t. The next day the price was seen increasing again, suggesting support at $2,200/t has once again been regained.  […]

Mexican steelmaker Ternium could benefit if the US places new steel tariffs on Mexico, according to New York-based investment firm Morgan Stanley. “First, if the US were to levy tariffs on steel imports from Mexico, we believe the government of Mexico would likely respond with a similar measure. Second, due to its product mix, Ternium would likely benefit […]

A preliminary count of imports during the month of June shows little changes from SMU’s previously reported import license analysis. Total imports were 2,792,674 net tons in June’s preliminary count by the US Department of Commerce. As SMU reported earlier this month, that’s the highest level imports have been over the past year. Flat-rolled imports […]

The US HRC Futures market has been on a roller-coaster ride since our last update (green). In early July, the front month futures contracts surged significantly as news of Steel Dynamics Inc.’s (SDI’s) Sinton, Texas, mill outage trickled through the market (blue).

The US HRC Futures market has been on a roller coaster ride since our last update (green). In early July, the front month futures contracts surged significantly as news of Steel Dynamics Inc.’s (SDI’s) Sinton, Texas, mill outage trickled through the market (blue). However, the futures quickly reversed course and experienced a sharp decline, following […]

Schnitzer Steel Industries has changed its corporate name to Radius Recycling. The Portland, Ore.-based scrap recycler and long steel producer said on Wednesday it’s part of a rebranding initiative to reflect the company’s “vision, purpose, and impact on the global economy.” “While metals recycling and steel manufacturing have been the foundation of our global business for […]

Hot-rolled coil (HRC) prices fell for a second consecutive week as mills appear to have given up holding the line on $900 per ton ($45 per cwt) and amid discounting into the high $700s per ton.