There is no doubt pig iron will be needed to fuel the expansion of flat-roll capacity in the US and Canada. Where will it come from? How much will it cost? What will be the quality? Is it a good business to produce merchant pig iron? The US imports between 4-6 million metric tons (mt) per year of […]
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $760 per short ton (st) on Monday, Jan. 21. The $10/st week-on-week (w/w) rise marks the first increase in the CSP since Nov. 12. According to SMU’s mill price announcement calendar, the Charlotte, N.C.-based steelmaker held the weekly price at $750/st for 11 […]
The last six months have been littered with uncertainty and mixed signals, a choppy and rangebound market. Spot indices have largely held steady, despite the pressure from domestic mills pushing for higher prices on spot tons. This has provided a signal of a lack of upward momentum and little downside room based on mill costs. […]
Sheet and plate prices remained in a holding pattern this week as the market awaited more specifics on potential Trump administration tariffs.
The price premium of galvanized coil over hot-rolled (HR) coil has continued to narrow, a downward trend seen for the past seven months. As of this week, the spread between these two products has reached an 18-month low.
The price spread between hot-rolled coil (HRC) and prime scrap continued to narrow in January, according to SMU’s most recent pricing data. While SMU’s average HRC price edged down week over week (w/w), it rose compared to a month ago. The January price for busheling also increased from December. Our average HRC price as of […]
Steel prices ticked lower this week for four of the five products SMU tracks, according to our latest canvass of the sheet and plate markets. Following last week’s bump, our hot rolled, cold rolled, galvanized, and plate indices all edged lower this week by $5-15 per short ton (st) on average. Galvalume was the only […]
Reflecting on 2024 and looking ahead to the new year, galvanized steel buyers on this month’s HARDI call expressed a mix of cautious optimism with lingering uncertainties.
US ferrous derivatives markets were largely quiet through the holiday period. Since the new year, however, we have seen a bit of a resurgence in interest as traders and sales staff return to their desks.
Pig iron prices declined in all regions as the EU’s 2025 import quota on Russian pig iron has begun, loosening global supply.
Steel prices didn't start the new year with a bang - but they didn't bust, either, according to SMU's first survey of 2025. On the sheet side, market participants generally predicted that prices should move higher this year on the coated trade petition and the potential for tariffs under President-elect Trump. But most buyer sources weren’t eager to load up given the uncertain timing and scope of the potential tariffs. They also cited increasing domestic capacity and modest demand.
A bleak outlook for steel demand has undermined market confidence, contributing to the drop in prices.
Prices for pig iron imports into the US continue to retreat in the face of regional weakness in demand for ferrous raw materials in South Asia and the Far East.
While steel news may be starting 2025 off with a bang, Nucor’s consumer spot price (CSP) for hot-rolled coil is not.
Hot-rolled (HR) coil prices were flat in the US this week, while tags in offshore markets were mostly down.
In the last article written for SMU, we looked at the rallies that followed both the 2016 and 2022 presidential elections, as well as the moves in the NFIB Small Business Optimism Index.
The price premium between stateside hot band and landed imports widened slightly this week.
We have seen very little change in sheet and plate prices across the past month.
The prices being paid by US-based buyers has continued to decline as ferrous raw material demand across the globe remains weak.
The steelmaker has kept its weekly consumer spot price for hot-rolled steel sheet unchanged since Nov. 12.
Cleveland-Cliffs plans to increase prices for hot-rolled (HR) coil to $800 per short ton (st). Cliffs said the increase announcement coincides with the opening of its February order book for both contract and spot tons of HR.
The price spread between hot-rolled coil (HRC) and prime scrap narrowed slightly in December, according to SMU’s most recent pricing data.
Steel prices have remained relatively stable in recent weeks, though they have generally trended downward since October.
Import arbitrations expressed via futures may become enticing as coil price spreads expand. The spread market in CME US hot-rolled coil (HRC) is currently navigating a period of volatility, with prices fluctuating post-election, leaving traders uncertain about the market's direction.
Nucor’s weekly spot price for hot-rolled (HR) coil will remain at $750 per short ton (st) for a fifth week.
Hot-rolled (HR) coil prices ticked back up in the US this week, while tags in offshore markets moved in varying directions. Thus, the price premium between stateside hot band and imports on a landed basis widened slightly. After leveling with import prices in late August, stateside tags have been mostly stable and ahead of imports […]
Steel sheet prices remain at or near multi-month lows, while plate prices continue edging lower from their mid-2022 peak.
Cleveland-Cliffs has officially had spot HRC prices at $750/st since mid-September.
For the fourth week in a row, Nucor will keep its published spot price for hot-rolled (HR) coil unchanged.
On Monday, Nucor published new extras effective Jan, 4, 2025.