Nucor lowers weekly HR price by $5/ton
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.
Category: Steel Prices
US CR prices see little change, still well above imports
Offshore cold-rolled (CR) coil prices have changed little, but they are still notably cheaper than domestic product. That remains the case even as US CR coil prices ticked lower this week.
CRU: Pig iron prices rise on tightened market balance
Pig iron prices have been trending higher in all key markets besides Europe. Limited exports from Brazil and Ukraine are contributing to higher prices in the USA, though soft demand cushioned a sharp price upswing. In the US, pig iron prices increased by $15 per metric ton (mt) m/m to $485/mt CFR NOLA. Buying activity […]
HRC vs. prime scrap spread narrows further in June
The spread between hot-rolled coil (HRC) and prime scrap prices has narrowed for the second consecutive month, according to SMU’s most recent pricing data.
HR futures: June trading remains muted
Trading activity for the CME HRC futures contract has been sporadic so far in June, with a few days seeing transacted volumes exceed 25,000 short tons (st), but overall activity remains muted. This follows a pattern that emerged over the course of May.
US and offshore HRC prices now even
US hot-rolled (HR) coil prices fell further this past week, bringing them even with offshore hot band prices on a landed basis.
SMU price ranges: Sheet moves lower, demand struggling
US sheet prices continued to tick down this week as supply seems to outweigh demand, and deep discounts are not only for large-ton buys.
Nucor cuts weekly HR price by $60/ton
Nucor said on Monday that it would lower its weekly hot-rolled (HR) coil price effective immediately. In a letter to customers, the company said its consumer spot price (CSP) for the week of June 10 would be $720 per short ton (st), a $60/st cut vs. the prior week. This is not the first big […]
HR futures: Spot market drops below Nucor CSP, could trade action reverse that?
Let’s start by asking this: Were the proclamations that Nucor’s published index prices would drift lower with the reality of a bear market for flat rolled ultimately a bit premature with the benefit of hindsight?
US CR prices still more expensive than imports
Offshore cold-rolled (CR) coil prices remain notably cheaper than domestic product. That remains the case even as US CR coil prices continue to tick lower.
Domestic and offshore HRC prices inch closer to parity
US hot-rolled (HR) coil prices ticked down again this past week, nearly reaching parity with offshore hot band prices on a landed basis. This week, domestic HR coil tags were $730 per short ton (st) on average based on SMU’s latest check of the market on Tuesday, June 4. Domestic HR coil prices are now […]
SMU price ranges: Sheet drops as market debates where/when a floor will be found
US sheet prices remained on a downward course again this week amid chatter in some corners about a potential broader slowdown in demand. SMU’s hot-rolled (HR) coil price now stands at $730 per short ton (st) on average, down $20/st from last week and down $115/st from a recent high of $845/st in early April. […]
Nucor increases galv coating extras effective July 6
Nucor will increase galvanized and galvannealed coating extras effective July 6, 2024.
Nucor keeps its HR price unchanged at $780/ton
Nucor said on Monday that it would keep its weekly hot-rolled (HR) coil price flat this week. In a letter to customers, the company said its consumer spot price (CSP) for the week of June 3 will remain $780 per short ton (st). The sideways move comes after two consecutive weeks of a $10/st increases […]
Domestic CR prices remain well above imports
Offshore cold-rolled (CR) coil prices remain significantly cheaper than domestic product. That remains the cause even as US CR coil prices continued to tick lower. All told, US CR prices are now 17.6% more expensive than imports. While still high, that premium is down from 19.4% last week and down from 31.5% in early January.
CRU: Sheet price stability seen in most regions outside of the US
Steel sheet prices across most regions of the world were little changed this week. European buyers remain cautious regarding their outlook towards end-use demand and largely remained out of the market. A similar trend was seen across Asia, although skepticism on real estate stimulus measures in China led to w/w price falls. In the US, […]
HR futures: Waiting for a new trend to emerge
Week over week, the futures curve saw minimal change.
Domestic and offshore HRC prices nearly even
US hot-rolled (HR) coil prices ticked down further this past week, moving closer to parity with offshore hot band prices on a landed basis. This week, domestic HR coil tags were $750/st on average based on SMU’s latest check of the market on Tuesday, May 28.
SMU price ranges: Sheet slide continues as market seeks direction for June
Sheet prices slipped again this week on a combination of moderate demand, increased imports, and higher import volumes.
Nucor increases weekly HR price again by $10/ton
Nucor moved its published consumer spot price (CSP) up again this week.
CRU: Nucor’s CSP - A disruption to steel sheet market status quo
Nucor’s Consumer Spot Price (CSP), a legitimate mill offer price, is a potential disruptor to North American steel sheet commercial and procurement strategies. We will dive into the details of what we think the CSP is and why we believe it is a potential disruption to how the North American sheet market operates.
US CR tags move lower, still much higher than imports
Offshore cold-rolled (CR) coil prices remain a cheaper option over domestic product, even as US CR coil prices tick lower, according to SMU’s latest check of the market.
US HR prices near parity with offshore imports
US hot-rolled (HR) coil prices declined again and now stand nearly even with offshore hot band on a landed basis.
HR futures: Sideways and range-bound
Sideways and range-bound describes the US steel derivatives market over the past week, though the monthly picture shows a more notable decline in front-end flat prices. Week-over-week saw the June futures contract firm slightly, from $770 per short ton (st) to $780/st as of Thursday, May 23’s provisional close. However, the contract was down by […]
Cliffs seeks $800/ton for HR with opening of July books
Cleveland-Cliffs is seeking at least $800 per short ton (st) for hot-rolled (HR) coil with the opening of its July order book. The Cleveland-based steelmaker said the move was effective immediately in a letter to customers on Thursday, May 23. Recall that Cliffs announced in April that it would publish a monthly HR price. The […]
Nucor raises weekly HR price by $10/ton
Nucor upped its published consumer spot price (CSP) this week.
HRC vs. prime scrap spread narrows in May
The spread between hot-rolled coil (HRC) and prime scrap prices narrowed this month, according to SMU’s most recent pricing data.
CRU: Falling steel prices limit demand for imports into US
The recent decline in US hot-rolled (HR) coil and longs prices has further restricted demand for imported material. Despite the decline in US sheet prices, CR coil and HDG imports remain attractive. While demand for imports of longs products has been limited, buyers have increased imports of wire products to avoid wire rods’ higher tariffs. […]
HR futures: Grinding lower while grinding to a halt
The last time we were together on April 18, the June hot-rolled coil (HRC) future was sitting around the $800 support level where the May future found a bottom in mid-February.
SMU price ranges: Sheet nears five-month lows
Steel prices were overall mixed this week, according to our latest check on the market. Sheet prices were flat to down, while plate prices inched up. SMU indices on hot rolled, cold rolled, and galvanized are now down to the lowest levels seen since November.