Contributor: David Schollaert

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

SMU Price Ranges: Sheet Up as Price Hikes Gain Traction

Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.

Nucor Confident on Strong Long-Term Appetite for Steel

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.

Domestic HRC Prices Surpass Foreign Hot Band

US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.

Housing Starts Surprise, Recover in September

US housing starts increased in September despite high-interest rates, according to the latest estimates from the US Census Bureau.

SMU Price Ranges: Sheet Prices Up Again, But Outlooks Diverge

Sheet prices notched a third consecutive week of gains on limited supply and stable demand outside of automotive operations impacted by the UAW strike.

Worldsteel: Steel Demand to Grow 1.8% in 2023

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.

SMU Steel Demand Index Inches Up Again But Still in Contraction

Steel Market Update’s Steel Demand Index remains in contraction territory despite repeated improvements since mid-September, according to our latest survey data.

SMU Market Survey Results Now Available

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 Opens New NGO Electrical Steel Line at BRS

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.

Foreign and Domestic HRC Prices Near Parity

US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.

SMU Price Ranges: Sheet Rises Again, HRC Firms Around $700/ton

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.

Dodge Momentum Index Improved in September

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 HRC Prices Move Nearly Even With Imports Again

US hot-rolled coil (HRC) and offshore product are nearing parity again after domestic prices moved higher this week and imports declined again.

SMU Price Ranges: Sheet Rebounds – Sustainable Rally or Dead-Cat Bounce?

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.

ISM: US Manufacturing Improved in September, But Still Contracting

US manufacturing activity improved in September, nearing a recovery, but remained in contraction territory, according to the Institute for Supply Management (ISM).

SMU's September at a Glance

Steel prices continued to decline last month – a trend we’ve seen repeated since mid-April.

Plate Report: Mills Hold the Line Despite Slowing Demand

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.

SMU Market Survey Results Now Available

The latest SMU Market Survey results are now available on our website to all Premium members.

Nucor Maintains Plate Prices

Nucor Corp. will keep plate prices unchanged with the opening of its November order book.

US HRC Prices Remain Well Below Landed Price for Imports

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.

Cliffs Increases Sheet Prices, Sets $750/t Base for HRC

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.

SMU Price Ranges: Sheet Declines Moderate – Meaning or Noise?

Hot-rolled coil prices were down again this week, continuing a streak of week-over-week (WoW) declines that began in early/mid-July.

August Imports Down Again, Even Lower YoY

The drop in imports continued for the second straight month, in line with license applications and falling lower year on year (YoY).

Community Chat with AGC Chief Economist Ken Simonson

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 Band Now Even Cheaper Than Imported HRC

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 Surge in August

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 Sales Slip in August, Still Better YoY

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.

SMU Steel Demand Index Inches Up

Steel Market Update’s Steel Demand Index remains in contraction territory despite marginal improvement, according to our latest survey data.

SMU Market Survey Results Now Available

he latest SMU Market Survey results are now available on our website to all Premium members.

Imported HRC Tags Climbing vs. US Product

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.