Contributor: David Schollaert

US apparent steel supply declined 2% in July to 8.28 million net tons compared to the previous month, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI). 

Steel prices kept falling throughout last month. Hot-rolled coil (HRC) prices ended August at $725 per ton ($36.25 per cwt) on average, having fallen by $105 per ton during the month.

The Dodge Momentum Index (DMI) moved lower in August, driven by a slowdown in planning from tighter lending standards, according to the latest data from the Dodge Construction Network (DCN).

US hot-rolled coil (HRC) is now a better deal than imported hot band, something we haven't seen since early February, according to SMU’s latest foreign vs. domestic price analysis.

US consumer confidence pulled back in August, declining for the first time in four months. The result came in after the index jumped to its highest level in nearly two years the month prior, consumers’ assessment of current business and labor market conditions deteriorated, The Conference Board reported.

Steel Market Update’s Demand Index is still in contracting territory and moving lower, where it has been for the better part of the past four-plus months, according to the latest survey data.

Sheet prices declined again this week amid persistent concerns about a potential strike at union-represented automakers.

Nucor Corp. will lower plate prices by $40 per ton ($2 per cwt) with the opening of its October order book.

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, or if […]

Domestic hot-rolled coil (HRC) is now cheaper than imported hot band as US tags have fallen further and at a faster clip than offshore product, according to SMU’s latest foreign vs. domestic price analysis.

We’re roughly a week removed from the 2023 Steel Summit and some of the discussions, both on stage and the the sidelines of the event, remain of critical importance to many in the industry.

Sheet prices have fallen this week, after a small pause last week when prices saw mixed results. Tags have now been largely trending lower since July.

This year, the 13th annual edition of our Summit, we polled more than 1,450 attendees about where prices and demand would be, come August 2024.

Domestic and imported hot-rolled coil (HRC) prices are nearly parallel as US tags continue to erode at a faster clip than offshore prices, according to SMU’s latest foreign vs. domestic price analysis.

Sheet prices were mixed this week after trending lower for most of July and earlier in August. SMU’s average hold-rolled coil (HRC) price slipped to $750 per ton.

Here’s the program for the final day of SMU's Steel Summit on Wednesday, Aug. 23, at the Georgia International Convention Center in Atlanta.

Domestic raw steel production saw another upward bump last week, according to data released by the American Iron and Steel Institute (AISI) on Monday, Aug. 21.

Steel Market Update’s Demand Index remains in contracting territory, where it has been for most of the last four months, according to the latest survey data. While the market did react temporarily in response to mill price hikes in mid-June, apparent demand for flat-rolled steel in the US continues to trend down.

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

The spread US hot-rolled coil (HRC) prices had held over offshore product for much of the year has almost evaporated, according to SMU’s latest foreign vs. domestic price analysis.

Sheet prices slipped again, continuing a trend of lower week-over-week tags that began in mid-July.

The spread between US and offshore hot-rolled coil (HRC) prices continues to narrow as domestic tags have declined further, according to SMU’s latest foreign vs. domestic price analysis.

Sheet prices were mixed this week with hot-rolled coil (HRC) and galvanized base prices slipping again even as cold-rolled tags inched up.

SMU senior analyst David Schollert provides an overview of steel market indicators for the month of July.

Steel Market Update’s Demand Index has now been contracting territory for the better part of the past 3-plus months, according to the latest survey data.

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

The spread between US and offshore hot-rolled coil (HRC) prices has narrowed to its lowest level since mid-February, when domestic prices were still trending upwards, according to SMU’s latest foreign vs. domestic price analysis.

Sheet prices slipped for the third consecutive week on continued discounts from certain mills for larger buyers.

We are thrilled to announce that we are near completion of our website upgrade that will be sure to elevate your SMU membership!

Hot-rolled coil (HRC) prices fell for a second consecutive week as mills appear to have given up holding the line on $900 per ton ($45 per cwt) and amid discounting into the high $700s per ton.