Nucor Corp. remains incredibly bullish long-term on steel demand, but an underlining theme during the steelmaker’s third-quarter earnings conference call with analysts on Tuesday, Oct. 24, was tempered near-term expectations.
US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.
US housing starts increased in September despite high-interest rates, according to the latest estimates from the US Census Bureau.
Sheet prices notched a third consecutive week of gains on limited supply and stable demand outside of automotive operations impacted by the UAW strike.
Global steel demand will reach 1.81 million metric tons in 2023, a 1.8% year-on-year boost, the World Steel Association (worldsteel) said in its updated Short Range Outlook report.
Steel Market Update’s Steel Demand Index remains in contraction territory despite repeated improvements since mid-September, according to our latest survey data.
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at steelmarketupdate.com, visit the Pricing and Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” Historical survey results are also available under that selection. If you need help accessing the survey results, […]
U.S. Steel Corp. celebrated the opening of its $450-million non-grain oriented (NGO) electrical steel line at its Big River Steel Works in Osceola, Ark.
US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.
Sheet prices moved upward for the second week in a row despite the ongoing UAW strike and concerns in some corners that momentum from a price hike last month might be fading, market participants said.
The Dodge Momentum Index (DMI) edged up in September, driven by a slight increase in planning despite tighter lending standards, according to the latest Dodge Construction Network (DCN) data.
US hot-rolled coil (HRC) and offshore product are nearing parity again after domestic prices moved higher this week and imports declined again.
Sheet prices rose this week on the heels of a price increase announced by Cleveland-Cliffs last week that was quietly followed by other mills.
US manufacturing activity improved in September, nearing a recovery, but remained in contraction territory, according to the Institute for Supply Management (ISM).
Steel prices continued to decline last month – a trend we’ve seen repeated since mid-April.
US plate prices have been relatively flat this year, especially when compared to sheet products. Case in point; SMU's plate prices stands at $1,455 per ton ($72.75 per cwt) on average, down 7% from a $1,560 per ton peak in April. Our HRC price is at $645 per ton, down 44% from an April peak of $1,160 per ton.
The latest SMU Market Survey results are now available on our website to all Premium members.
Nucor Corp. will keep plate prices unchanged with the opening of its November order book.
US hot-rolled coil (HRC) prices were down again vs. offshore hot band this week. Domestic HRC lost more ground relative to imported product with US tags sinking at a faster rate than those overseas.
Cleveland-Cliffs is increasing its sheet tags, setting a new base price for hot-rolled coil, effective immediately, the company said in a press release on Wednesday, Sept. 27.
Hot-rolled coil prices were down again this week, continuing a streak of week-over-week (WoW) declines that began in early/mid-July.
The drop in imports continued for the second straight month, in line with license applications and falling lower year on year (YoY).
Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Oct. 4, at 11 a.m. ET.
US hot-rolled coil (HRC) prices fell further relative to imported product this week. Domestic hot band remains cheaper than offshore HRC as US tags continue to sink at a sharper rate than those overseas.
North American auto assemblies saw its best total year to date in August, and its best mark in nearly five years, driven by a 32.8% jump in total assemblies vs. July’s output.
US light-vehicle (LV) sales rose to an unadjusted 1.33 million units in August, up 12.8% vs. year-ago levels, while domestic LV sales fell 4.5% month-on-month.
Steel Market Update’s Steel Demand Index remains in contraction territory despite marginal improvement, according to our latest survey data.
he latest SMU Market Survey results are now available on our website to all Premium members.
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.