Contributor: David Schollaert

US hot-rolled (HR) coil prices slipped this past week but remain marginally higher than offshore material on a landed basis.

The price gap between US-produced cold-rolled (CR) coil and offshore products narrowed slightly in the week ended Oct. 4, mainly due to a price jump in Asian markets.

Construction spending in the US declined for a third month in August but showed an increase year over year (y/y). The US Census Bureau estimated construction spending to be $2.131 trillion in August on a seasonally adjusted annual rate (SAAR). While this was 0.1% below July’s revised spending rate, it was 4.1% higher than spending […]

US hot-rolled (HR) coil prices moved slightly higher again this past week but remain marginally higher than offshore material on a landed basis. Since reaching parity with import prices in late August, domestic prices have been slowly pulling ahead of imports. This has been driven by a slight deviation in price movements – slow but […]

Bull Moose Tube Co. (BMT) will expand its steel pipe and structure operations with a $25 million plant in Gerald, Mo., according to The Economic Times.

Wabash National and Steel Dynamics Inc. (SDI) have signed a 10-year supply agreement that secures “critical steel components” for Wabash’s growing operations, the company said in a press release.

SMU’s latest steel buyers 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.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]

The price gap between US cold-rolled (CR) coil and offshore product has shrunk slightly this week ended Sept. 27 as stateside tags edged down. The premium slipped moderately but remains well ahead of the 10-month low from late July.

US hot-rolled (HR) coil prices inched up again this past week but remain just a touch more expensive than offshore material on a landed basis.

The Conference Board reported that consumer confidence in the US dropped to one of the lowest readings of the year in September. With concerns mounting about business conditions and the labor market, the tumble was the biggest monthly decline since August 2021.

SMU’s Key Market Indicators include data on the economy, raw materials, manufacturing, construction, and steel sheet and long products. They offer a snapshot of current sentiment and the near-term expected trajectory of the economy.

The price gap between US cold-rolled (CR) coil and offshore product widened this week as stateside tags inched up. The premium has been steadily increasing after falling to a 10-month low in late July.

US hot-rolled (HR) coil prices edged up this past week and remain modestly more expensive than offshore material on a landed basis. Since reaching parity with import prices in late August, domestic prices have been slowly pulling ahead of imports. The move has been driven largely by declines overseas.

Triple-S Steel Holdings has acquired West Coast steel products distributor Borrmann Metals Co.

Steel Market Update’s Steel Demand Index ticked back seven points last week, falling further into contraction territory.

Flat rolled = 66.3 shipping days of supply Plate = 57.0 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers grew further in August. The dynamic resulted from some Q3 restocking efforts at a perceived market bottom, met with shorter lead times and weaker demand. At the end of August, service […]

Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil is unchanged from last week.

The price gap between US cold-rolled (CR) coil and offshore product is a bit broader this week despite slightly lower tags stateside. The premium is still widening since falling to a 10-month low in late July.

Oil and gas drilling activity in the US recovered the week ended Sept. 13, but remains near multi-year lows.

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

The US plate market finds itself in unfamiliar territory, well maybe unfamiliar territory for this side of the post-Covid “normal,” that is.

US hot-rolled (HR) coil prices edged down slightly this past week but remain at a slight premium to offshore material on a landed basis.

US light-vehicle (LV) sales improved to an unadjusted 1.42 million units in August, up 7.6% from a year ago, the US Bureau of Economic Analysis (BEA) reported.

Commercial planning momentum continues to drive the Dodge Momentum Index (DMI) higher, pushing August up to a 21-month high.

The price gap between US cold-rolled (CR) coil and offshore product has widened again. The premium has grown repeatedly since falling to a 10-month low in late July.

Construction spending in the US in July was slightly lower than June. Despite the decline, it increased notably year on year (y/y).

US hot-rolled (HR) coil prices were largely flat over the past week, remaining higher than tags for offshore material on a landed basis for a second consecutive week.

Nucor intends to keep plate prices unchanged with the opening of its October order book, according to a letter to customers dated Wednesday, Sept. 4. The Charlotte, N.C.-based steelmaker said it would maintain prices set in its July 1, 2024, price letter.

Growth in the US economy continues to struggle in most districts. The Federal Reserve’s Beige Book report for August shows two-thirds of reporting districts flat or declining economic activity.

US manufacturing activity contracted for a fifth straight month in August, as reported in the latest release from the Institute for Supply Management (ISM). The Index has indicated contraction in the manufacturing sector for 21 of the last 22 months.