Sheet prices continue to wobble with hot-rolled coiled prices actually declining, albeit modestly, for the first time in more than a year. The concern: that the market is at a peak – and perhaps heading down the other side. Hot rolled coil prices have been flat in prior weeks, but they have not declined since […]
Market momentum suggests that flat rolled steel prices are likely to continue moving up, at least in the short term, as hot rolled hit a new record high once again this week at an average of $1,955 per ton, up $20 over last week, according to SMU’s check of the market on Monday and Tuesday. […]
Prices for four of the seven steelmaking raw materials tracked in this SMU analysis decreased over the last 30 days. Through Sept. 1st, iron ore prices stumbled 18% in one month’s time, pig iron prices fell 11%, shredded scrap prices declined 4%, and zinc prices decreased 2%. Busheling scrap prices remained flat month over month, while aluminum prices rose […]
In mid-August, when lead times registered their first significant decline of the year, some interpreted it as a sign the pendulum had finally begun to swing the other way. Lead times have long been expected to shorten as the mills’ ability to supply the market finally catches up with demand. But any predictions of a […]
Flat-rolled steel prices are again mixed. Hot rolled is up $20 per ton, cold rolled is unchanged, and coated products are down $20-25 per ton. (Plate – following mill price hike announcements – is up a sharp $105 per ton.) The mixed signals are not a sure sign of the market inflecting. And Hurricane Ida […]
We often talk a lot about hot-rolled coil prices in Final Thoughts. I’d like to take a deeper dive into coated prices today. It’s been an almost straight line up for an entire year for flat-rolled steel prices. And galvanized is no exception. Galvanized base prices are at $2,070 per ton ($103.50 per cwt). That’s […]
Ternium Mexico continues to ramp up its new hot strip mill outside of Monterrey while also eyeing potential expansions on both sides of the Rio Grande, the company’s top executive said. “We still have a lot of things to do in Mexico. But also in the States, our facility is running at 100% capacity – so we […]
With the exception of coated products, lead times for delivery of flat rolled and plate steel have shortened by a week or more – the first significant decline this year and a possible sign that rising steel prices are losing momentum. Lead times for spot orders of steel have extended continuously since the market bottomed last […]
Flat rolled and plate steel prices were flat to up modestly this week as the year-long uptrend appears to be flattening somewhat. Hot rolled hit yet another historical high mark at $1,915 per ton, according to Steel Market Update’s check of the market this week, up another $15. It’s too soon to tell if prices […]
The average spot market price for hot rolled coil reached a notable new benchmark this week at $1,900 per ton, according to Steel Market Update’s check of the market on Monday and Tuesday. That’s an astounding 78% higher than the previous record of $1,070 per ton seen in the summer of 2008. Prices for flat […]
Steel Market Update’s check of the market this week shows no significant change in lead times for deliveries of spot orders from the mills. Average lead times for hot rolled orders remain above 10 weeks, while those for cold rolled and coated products are still above 12 weeks – at least twice as long as […]
Steel prices have moved steadily and predictably upward week after week for the past year. But Steel Market Update’s check of the market on Monday and Tuesday delivered some mixed signals for the first time since August of 2020. Hot rolled coil prices moved up again by another $30 per ton, falling just short of […]
Steel prices have moved steadily and predictably upward week after week for the past year. But Steel Market Update’s check of the market on Monday and Tuesday delivered some mixed signals for the first time since August of 2020. Hot rolled coil prices moved up again by another $30 per ton, falling just short of […]
Prices for four of the seven steelmaking raw materials tracked in this SMU analysis increased from June to July, with all products following large gains in previous months. Over the last 30 days, coking coal prices increased 16% and busheling scrap prices rose 5%. Zinc and aluminum prices increased less than 1%, while shredded scrap remained flat and pig […]
Spot tons of flat rolled steel are still in short supply, report respondents to Steel Market Update’s check of the market this week. Any tons that are available command a rising premium. Flat rolled prices increased by another $10-40 per ton, with some reporting hot rolled offers as high as $1,900, though HRC saw a […]
Steel Market Update’s check of the market this week shows that lead times for deliveries of spot orders from the mills have shortened slightly on all flat rolled products. The dip of a half-week or less is not highly significant, however, as average lead times for hot rolled orders remain above 10 weeks, while those […]
Flat-rolled steel prices continue to shoot upward – with no signs of the summer doldrums, the chip shortage or fears of a correction blunting their momentum. U.S hot-rolled rolled coil prices now stand at $1,850 per ton ($92.50 per cwt), up $30 per ton from a week ago. Cold-rolled coil and galvanized base prices notched similar […]
Flat-rolled steel prices continue to shoot upward – with no signs of the summer doldrums, the chip shortage or fears of a correction blunting their momentum. U.S hot-rolled rolled coil prices now stand at $1,850 per ton ($92.50 per cwt), up $30 per ton from a week ago. Cold-rolled coil and galvanized base prices notched similar […]
Steel Dynamics Inc. (SDI) kicked off steel earnings season by posting record second-quarter sales and record profits on ballooning metal spreads. And the Fort Wayne, Ind.-based electric arc furnace (EAF) steelmaker anticipates another record performance in the third quarter as well as strong demand into 2022. “We remain confident that macroeconomic and market conditions are […]
Steel prices rose another $35-50 per ton this week with hot rolled and coated products surpassing notable new benchmarks of $1,800/$2,000. Steel Market Update’s canvass of the market this week puts the average HRC price at $1,820 per ton ($91/cwt) and galvanized at $2,030 ($101.5/cwt). Buyers continued to voice concerns about late mill shipments and […]
SMU found no evidence of a summer lull in our latest check of the market. Sheet prices were flat or up in a post-holiday period that in prior years has seen them slip. Hot-rolled coil and cold-rolled coil prices were unchanged. Galvanized and Galvalume prices were up $25 per ton and $50 per ton, respectively. […]
SMU found no evidence of a summer lull in our latest check of the market. Sheet prices were flat or up in a post-holiday period that in prior years has seen them slip. Hot-rolled coil and cold-rolled coil prices were unchanged. Galvanized and Galvalume prices were up $25 per ton and $50 per ton, respectively. […]
Flat rolled steel prices continued to move higher with benchmark hot rolled coil spot prices now up for the 47th week in a row. But when we looked at HRC, we found prices up only by $10 per ton. This is the lowest rate of increase since mid-March/early April, when we saw HRC increase by […]
Editor’s note: Steel Market Update is please to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. Prices for all but one of the steelmaking raw materials tracked in this SMU analysis increased from May to June, with most products following large gains seen in […]
Let’s talk about lead times. Because the results from our latest survey caught my attention. This is the first time in since January-February that you can maybe discern a potential peak in pricing – at least judging by that metric. Lead Times: Trend or Head Fake I’m going to display our lead latest lead time […]
Let’s talk about flat rolled and plate steel mill lead times. Because the results from our latest steel market survey caught my attention. This is the first time in since January-February that you can maybe discern a potential peak in pricing – at least judging by that metric. Lead Times: Trend or Head Fake I’m […]
The market is watching anxiously for a sign that rising lead times have finally turned and will begin to shorten as mill production catches up with demand. Indeed, Steel Market Update data shows a slight dip in the average lead times for spot orders of flat rolled steel products this week. But the same has […]
As it turns out, the slight downturn seen in steel mill lead times last month was not the beginning of a trend change. Lead times for all products but plate have inched higher in the last two weeks, indicating no relief yet from the tight supplies that continue to push steel prices higher. According to […]
If you’re seeking a peak, keep looking. Because it wasn’t this week. Steel Market Update found that spot prices for most sheet and plate products were again higher – despite scattered reports of increased availability for some contract buyers. SMU’s benchmark hot-rolled coil prices stands $1,760 per ton ($88/cwt), up $40 per ton from last […]
As a co-founder of Steel Dynamics Inc. (SDI), Mark Millett has had a front row seat to the dramatic changes the steel industry has staged over the past three decades. Actually, he has played a leading role in many of those changes and continues to choreograph the latest act in steel’s story with the imminent […]