Hot-rolled coil prices are up an average up $50 per ton ($2.50 per cwt) this week, breaking a six-month trend of flat or falling prices. And that gain might prove modest compared to what’s in store in the weeks ahead. Why? Because the war in Ukraine has the potential to shock the steel market at […]
U.S. Steel and Steel Dynamics notified customers of an upward revision to their galvanized steel coating extras on Monday, March 7. New USS extras go into effect on May 1, 2022, while SDI extras go into effect on April 1. “The cost to procure zinc and aluminum for our Hot Dipped Galvanized and Galvalume products […]
Steel mill lead times remain short, but yielded minor upward movements this week for most products, based on Steel Market Update’s latest check of the market. SMU’s data on mill negotiations shows buyers still have the upper hand. Buyers polled this week by SMU reported mill lead times ranging from 2-6 weeks for hot rolled, […]
Sheet prices fell again this week. But price declines for hot-rolled coil have slowed, with HRC tags down $20 per ton ($1 per cwt) and coalescing around $1,000 per ton. While some mills were reported to be cutting deals as low as $900 per ton, others were said to be mulling price hikes. Cold-rolled and […]
You don’t need SMU pontificating about how the Russia-Ukraine conflict marks the end of the post-WWII order. Suffice it to say the world we woke up to today is vastly different from the one we reported on in our last edition. We’re also getting used to thinking about things we haven’t had to think about […]
Sheet prices fell hard again this week. Our average hot-rolled coil number now stands at $1,020 per ton ($51/cwt), down $60 per ton from last week and marking the lowest point for HRC prices since January 2021. Large buyers reported deals in the mid-$900s. Another notable trend: Prices for coated products led the way downward […]
Prices for five of the seven steelmaking raw materials tracked in this SMU analysis increased over the last 30 days, with only one product decreasing. Through Feb. 17, iron ore prices rose 18% from one month prior, aluminum prices increased 10%, coking coal prices rose 9%, zinc prices were up 3%, and pig iron prices […]
Spot market prices are moving and moving very quickly. One of the service centers I communicated with today said, “I’ve not seen a market downturn quite like this one (nor the upside either), and it’s making the discovery of legit pricing quite difficult. I will say, the one constant I keep hearing is that the […]
Ternium plans to invest $1 billion to expand the operations of its Pesquería flat steel facility in Nuevo Leon, Mexico. The news came during the steelmaker’s fourth-quarter conference call on Wednesday, Feb. 16, when the Latin American steel group’s chief executive officer, Máximo Vedoya, confirmed the company was in the final stage of studying an […]
Steel mill lead times, which have shortened to near historical averages, are about as low as they will go and now register only minor movements up or down from week to week, based on Steel Market Update’s surveys of the market. Likewise, SMU’s data on negotiations between mills and buyers has reached a similar steady […]
Steel prices saw another big drop this week, taking the benchmark price for hot rolled below $1,100 per ton for the first time since January 2021. Cold rolled and coated products registered double-digit declines as well, while plate prices appear to be holding their own, according to Steel Market Update’s check of the market on […]
Sheet prices continue to fall, but the pace of declines has moderated on the hot-rolled coil side. SMU’s average hot-rolled coil price now stands at $1,190 per ton ($59.50 per cwt), down $45 per ton from $1,235 per ton last week. This weeks’ drop was less than half the $100-per-ton decline recorded last week. And […]
Steel Dynamics Inc. (SDI) has melted, cast and rolled the first coil at its new steel mill in Sinton, Texas. Employees of the Fort Wayne, Ind.-based steelmaker celebrated the occasion on social media platforms such as LinkedIn. The first coil both melted and rolled at Sinton was produced on Wednesday. SDI had previously been running […]
Steel mill lead times have shortened to what is considered nearly normal by historical standards, with hot rolled lead times below four weeks and cold rolled and coated around six weeks, plus or minus. In other words, the time it takes the mills to make steel and process orders can’t get much shorter. But the […]
Flat rolled steel prices declined by another $60-100 per ton in the past week, pushing the benchmark hot rolled price down to $1,235 per ton. That’s a decline of about 37% or a total of $720 per ton since the market peaked five months ago. Why the sharp decline? An imbalance between supply and demand […]
Prices for four of the seven steelmaking raw materials tracked in this SMU analysis increased over the last 30 days, while three products decreased. Through Jan. 26, coking coal prices rose 26% from one month prior, aluminum prices increased 10%, iron ore prices rose 8%, and zinc prices were up 2%. In that same time […]
Steel prices saw a big dip this week as the benchmark hot rolled price dropped to $1,335 per ton. That’s down more than 30% since the September peak and the lowest HR has been since the end of March 2021. Except for plate, which was pretty stable, flat rolled prices declined anywhere from $50-90 per […]
I want to spend some time talking about the Steel Market Update website and the value that can be found there. Over the years we have tweaked and added new content to the site as we strive to provide more information to the industry and our readers. The SMU Website There are a number of […]
I want to spend some time talking about the Steel Market Update website and the value that can be found there. Over the years we have tweaked and added new content to the site as we strive to provide more information to the industry and our readers. The SMU Website There are a number of […]
Steel mill lead times – a leading indicator of prices – continue to trend downward and are approaching what used to be considered “normal.” If lead times are nearing a point at which they may soon level off, what might that say about steel prices? Steel Market Update’s check of the market this week puts […]
Steel Dynamics Inc. (SDI) has commissioned the hot strip mill at its $1.9 billion steelmaking complex in Sinton, Texas, the company’s top executive said. “Both coating lines are running well. The hot strip mill has been commissioned using purchased slabs. The last component is the caster, which is in the home stretch,” SDI President and […]
Steel Market Update’s check of the market this week shows a few hot rolled transactions at prices below $1,400 per ton ($70 per cwt) as flat-rolled steel prices continue their correction from record highs last year. The average price for HRC dropped by another $55 per ton in the past week to $1,425 per ton. […]
U.S. Steel will invest $3 billion in a new state-of-the-art minimill in Osceola, Ark., near its Big River Steel plant. This new minimill will combine two electric arc furnaces (EAFs) with 3 million tons per year of advanced steelmaking and finishing capabilities, highlighted by the first endless casting and rolling facility in the U.S. Construction […]
As widely expected, steel prices continued to slide this week with hot rolled dipping below $1,500 per ton for the first time since April 2021. The big difference being that last April the HR price was on an upward trajectory that would eventually take it to a high of $1,955 per in early September. Since […]
Lead times on spot orders from domestic steel mills continue to decline, with no sign yet of how soon they might level out. Declining lead times are a leading indicator of declining steel prices. The average lead time for hot rolled is now approaching four and a half weeks, while cold rolled and galvanized are […]
Steel began the New Year with the same old trend of declining prices that began four months ago. Steel Market Update’s first poll of the market in 2022 shows flat rolled and plate prices down again anywhere from $10-65 per ton. The wide spread in this week’s price ranges most likely reflects business hiccups caused […]
Steel Market Update is pleased to share this Premium content with Executive members. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Prices for three of the seven steelmaking raw materials tracked in this SMU analysis increased over the last 30 days, while three products decreased and one was unchanged. Through Dec. 21, iron ore prices […]
In line with the declining steel prices, lead times for spot orders from the mills continue to shorten with the average for hot rolled now below five weeks and cold rolled and galvanized now below eight weeks, based on Steel Market Update’s check of the market on Monday and Tuesday. Lead times for all products […]
As the upward slope of the green bars in the charts below clearly illustrate, the bargaining position in steel price negotiations has been steadily shifting in favor of steel buyers for the past three months. Since September 2020, it had been a seller’s market, with steel in short supply. Until lately, the mills have had […]
Steel Market Update’s check of the market this week – our last of 2021 prior to the holiday break – shows the benchmark price for hot rolled finishing the year around $1,600 per ton ($80/cwt). That’s down another $70 per ton from last week and a total decline of $355 or 18% since peaking at […]