US hot-rolled (HR) coil prices continue to move higher, surpassing tags for offshore material on a landed basis. Domestic prices, improving on the heels of firmer US mill offers, pulled ahead of import tags as the stateside gains this week were sharper than the increases in overseas markets. SMU’s check of the market on Tuesday, […]
Flat-rolled steel prices were flat or up moderately this week amid mixed signals from the market.
Leading industry analysts on Monday discussed steel prices and how they will be impacted by trade policy, consolidation, mill discipline, November’s elections, and more.
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil increased $15 per short ton (st) from last week to $710/st.
The price gap between US cold-rolled (CR) coil and imported CR has widened since falling to a 10-month low in late July.
The basic pig iron (BPI) market remains virtually unchanged despite perceived weakness in other ferrous materials, such as scrap, billets, HRC and iron ore.
US hot-rolled (HR) coil prices continue to inch up and are now roughly even with prices for offshore material on a landed basis. The closing of the gap between cheaper US prices and more expensive import tags was driven by improving domestic prices on the heels of firmer US mill offers. SMU’s check of the […]
Cleveland-Cliffs aims to fetch $730 per short ton (st) for hot-rolled coil, up $30/st from its last published price. The steelmaker said the move was effectively immediately and “due to ongoing market developments” in a letter to customers on Wednesday, Aug. 21.
The price spread between hot-rolled (HR) coil and prime scrap widened slightly in August but remains in territory not seen since late 2022, according to SMU’s most recent pricing data.
Sheet prices trended sideways to modestly up this week in a market that appears to be in “wait-and-see” mode.
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $695 per short ton (st), up $5/st from last week.
The price gap between US cold-rolled (CR) coil and imported CR widened this week after falling to a 10-month low in late July.
Chinese steel export prices decreased for the eleventh week in a row, with all steel products recording losses of 2-3.7% compared to the previous week.
The front end of CME hot-rolled (HR) coil steel futures contracts had drifted lower when this article was filed on Thursday afternoon. And the back end of 2024 had also come under pressure. Despite staging a late-month rally at the end of July back into the low $700s per short ton (st) range, the lead […]
SMU’s sheet prices increased across the board this week, marking the third consecutive week of rising prices, while plate prices held stable.
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil is unchanged from last week at $690/ton.
Another month for hot-rolled (HR) coil, and another disappointing one for the bulls. They are still holding onto hope that the bottom is here and still pointing to an imminent uptick in HR prices.
It’s buy week again for ferrous scrap. US steelmakers are expected to offer their prices for August shipment this week. Most of the dealers and brokers RMU has quizzed believe the market has enough traction to hold sideways and even go up.
The US sheet market appears to have reached a bottom following consistent weekly declines since April. However, other markets remain weak due to limited demand. Trading in Europe has been slow due to summer holidays. While European mills are also undergoing maintenance outages, these have not been enough to offset ongoing price falls, with weak […]
SMU’s sheet prices rose by an average of $10 per short ton (st) this week on most products, the second consecutive week of recovering prices. Aside from the marginal uptick seen last week, this is the first instance of increasing sheet prices since the first week of April.
Nucor intends to keep plate prices unchanged with the opening of its September order book, according to a letter to customers dated Tuesday, Aug. 6.
Nucor has raised its consumer spot price (CSP) for hot-rolled (HR) coil to $690 per short ton (st), up $15/st from last week. This marks the second consecutive week the company has sought an increase.
The price gap between US cold-rolled (CR) coil and imported CR tightened marginally after falling to a 10-month low in late July.
Cleveland-Cliffs and Nucor each raised their respective hot-rolled coil (HRC) prices this week. Since last Wednesday’s settlement, the Midwest HRC futures curve has rallied as much as $63 in the September future.
The premium between US hot-rolled (HR) coil and offshore hot band prices narrowed this week as it appears domestic tags might have reached a bottom.
Cleveland-Cliffs said on Wednesday that it would seek at least $700 per short ton (st) for hot-rolled (HR) coil. The Cleveland-based steelmaker said it made the move "due to ongoing market developments." The company said the increase was effective immediately for HR orders for September.
SMU’s sheet price was largely flat this week, an unusual sight for the better part of the past four months. The same trend was seen for tandem products and plate as well.
Nucor has raised its consumer spot price (CSP) for hot-rolled (HR) coil to $675 per short ton (st), up $25/st from last week.
Cleveland-Cliffs announced on Friday that it would seek $670 per short ton (st) for hot-rolled (HR) coil. The steelmaker said the move was effectively immediately. It coincides with the opening of the company’s HR order book for September.
Summer is here, and a familiar sentiment has hit the hot-rolled coil (HRC) futures market. Prices continue to decline in both the spot market and the futures market, with expectations of sub-$800 prices for the remainder of the year.