Category: Steel Prices

Galvanized prices have fallen precipitously from a month ago, though many market participants think a bottom is in sight.

Nucor kept its consumer spot price (CSP) for hot-rolled (HR) coil unchanged at $650 per short ton (st) this week. HR prices for CSI, the company's sheet subsidiary in California, held steady at $720/st. Note that sheet prices on the West Coast are typically higher than those east of the Rocky Mountains.

The price gap between US cold-rolled (CR) coil and imported CR has fallen to a 10-month low as domestic tags continue to drift lower. Domestic CR coil prices averaged $920 per short ton (st) in our check of the market on Tuesday, July 16, down $40/st from the week before. CR tags are now down […]

US hot-rolled (HR) coil prices this week drifted further below offshore hot band prices on a landed basis. The premium is now near a two-year low. SMU’s check of the market on Tuesday, July 16, put domestic HR coil tags at $640 per short ton (st) on average, down $10/st from last week. Stateside hot […]

The CME steel futures complex saw a slight decrease in activity from levels seen at the end of June. This has coincided with a notable decline in flat prices for the nearby futures contract, now August HRC, which is lower by $81 per short ton (st) since last writing on June 13. It settled at $672/st on July 17.

The spread between hot-rolled coil (HRC) and prime scrap prices  narrowed for the third consecutive month, hitting a level not seen since 2020, according to SMU’s most recent pricing data.

SMU’s hot-rolled coil price fell to $640 per short ton (st) on average on Tuesday. That’s down $10/st from last week and marks the lowest point for HR prices since December 2022, according to our pricing archives. SMU’s HR price is now $5/ton below 2023’s low of $645/st, which occurred against the backdrop of a United Auto Workers (UAW) union strike.

Nucor dropped its consumer spot price (CSP) for hot-rolled coil to $650 per short ton, down $20/st from last week. The Charlotte, N.C.-based steelmaker also said base prices for HR from CSI, its subsidiary in California, would be $720/st. That’s a $30/st decrease from $750/st a week ago.

A month ago, when we last presented this column, there was a surprising amount of optimism in the presumably imminent reversal of the downtrend in hot-rolled steel prices in the second half of this year.

Offshore cold-rolled (CR) coil remains cheaper than domestic product. The gap continues to tighten, however, as US CR coil prices slip to a nine-month low. Domestic CR coil tags averaged $960 per short ton (st) in our check of the market on Tuesday, July 9, down $5/st from the week before. CR tags are now […]

Global Plate prices declined in all regions this week amid slow seasonal demand. With bearish outlooks on demand in the near term, market participants are watching how mills will react to low order entry levels and short lead times. In the US and China, production has been steady, but in Europe, steel mills are contemplating […]

US hot-rolled (HR) coil prices continued to drift lower this week, falling further below imported hot band tags on a landed basis. SMU’s check of the market on Tuesday, July 9, put domestic HR coil tags at $650 per short ton (st) on average, down $15/st vs. last week. Domestic HR coil prices are now […]

US sheet prices saw a similar pattern this week, customary for much of the year – new week, lower prices. Domestic tags moved lower this week, aligning with the typically slower summer period – but maybe a further indication of dwindling demand.

Nucor has kept its consumer spot price (CSP) for hot-rolled (HR) coil flat this week.

US hot-rolled (HR) coil prices fell again this week – now on a 13-week run – causing tags to drift further below offshore hot band prices on a landed basis.

Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]

US sheet prices moved lower again this week, continuing a trend seen since early April. The slowdown aligns with the typical summer doldrums, when lax demand and shorter lead times often take center stage. The current market is also characterized by ample supply and concerns about restocking – especially with few signs of a bottom […]

Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.

Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).

Low global sheet demand continued to weigh on prices around the world this week. In the US, mills were forced to remain aggressive to secure orders during this period of demand weakness. And compounded by recent new capacity ramp-ups, has forced US hot rolled (HR) coil prices down closer to levels seen in offshore markets. […]

Offshore cold-rolled (CR) coil remains cheaper than domestic product pricing even as US CR coil prices slip to an eight-month low. Domestic CR coil tags stood at $975 per short ton (st) on average in our check of the market on Tuesday, June 25, down $20/st from the week before. Domestic CR prices are, on […]

This chart of the rolling second-month CME hot-rolled coil (HRC) future dating back to the start of 2022 has been as volatile as a herd of “Wild Horses.”

US hot-rolled (HR) coil prices have continued to drift lower, pushing them further below offshore hot band prices on a landed basis.

Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.

Offshore cold-rolled (CR) coil prices are cheaper than domestic product despite US CR coil prices ticking lower. Domestic CR coil tags stand at $995 per short ton (st) on average, down $25/st vs. our prior check of the market on Tuesday, June 18. (We will update prices again on Tuesday, June 25.) All told, US […]

Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]

For the first time in weeks, activity in the futures market broke out of the recent “front grinds lower” pattern to provide new insight into the dynamics of the steel industry.

US hot-rolled (HR) coil prices fell further this past week, pushing them below offshore hot band prices on a landed basis.

US sheet prices edged lower this week as discounting continues. Major factors remain ample supply, shorter lead times, and lower input costs. Meanwhile, demand had remained steady to soft, depending on the end market. SMU’s hot-rolled (HR) coil price now stands at $685 per short ton (st) on average, down $25/st from last week. Hot […]

Nucor priced its weekly hot-rolled (HR) coil consumer spot price (CSP) at $715 per short ton (st) this week, down $5/st from last week.