Steelmaking raw material prices ease in July
The majority of steelmaking raw material prices declined in June, following the same trend seen in May, according to SMU’s latest analysis.
Tag: Galvalume
SMU price ranges: HR declines moderate. Are we near a bottom?
SMU’s sheet price ranges slid again this week. But the declines were more pronounced on tandem products whereas prices for hot-rolled coil held roughly steady.
SMU survey: Mills remain flexible on sheet and plate prices
Sheet steel buyers continue to report that mills are willing to talk price on new orders, according to our most recent survey data collected this week.
SMU survey: Lead times remain historically low
Steel mill lead times remain short according to our latest market canvass of steel service center and manufacturer buyers. Of the sheet and plate products SMU tracks, production times for all materials are nearing historical lows not seen in months or years.
SMU price ranges: HR falls to 19-month low, hopes of a bottom rise
SMU’s hot-rolled coil price fell to $640 per short ton (st) on average on Tuesday. That’s down $10/st from last week and marks the lowest point for HR prices since December 2022, according to our pricing archives. SMU’s HR price is now $5/ton below 2023’s low of $645/st, which occurred against the backdrop of a United Auto Workers (UAW) union strike.
Final thoughts
Flat-rolled steel prices have been largely falling since the beginning of the year. Even after a slight bump in early April when mills tried to halt the downtrend, the decrease resumed.
SMU price ranges: Sheet dips lower, more to come?
US sheet prices saw a similar pattern this week, customary for much of the year – new week, lower prices. Domestic tags moved lower this week, aligning with the typically slower summer period – but maybe a further indication of dwindling demand.
SMU survey: Lead times remain short, nearing 9-month lows
Steel mill lead times remain near some of the lowest levels witnessed in months, according to our latest market canvass to steel service centers and manufacturers.
SMU survey: Mills more open to price talks on sheet products
Sheet steel buyers found mills more willing to negotiate spot pricing this week, according to our most recent survey data.
SMU price ranges: Sheet still declining, bottom elusive
US sheet prices moved lower again this week, continuing a trend seen since early April. The slowdown aligns with the typical summer doldrums, when lax demand and shorter lead times often take center stage. The current market is also characterized by ample supply and concerns about restocking – especially with few signs of a bottom […]
Steel imports rally through May, possibly fall in June
Following a relatively stable first quarter, steel imports climbed in May to levels not seen in over two-years, according to preliminary Census data released earlier this week. Projected June license data suggests imports could ease from May, though still strong in comparison to levels witnessed over the past year.
SMU price ranges: Sheet down again as market seeks bottom
US sheet prices continued to drift lower this week on lackluster demand, short lead times, and ample supply. SMU’s hot-rolled (HR) coil price now stands at $670 per short ton (st) on average, down $15/st from last week. Hot band is down $175/st from a recent high of $845/st in early April. It is also […]
Majority of steelmaking raw material prices ease through June
Steelmaking raw material prices have generally declined over the past month according to SMU’s latest analysis.
SMU survey: Lead times remain short, HR and plate at 8-month lows
Steel mill lead times remain short for all steel products tracked by SMU, according to our latest market survey. Service center and manufacturers continue to report short to normal lead times for sheet and plate products.
SMU survey: Most sheet buyers find mills more flexible on price, plate less
Steel buyers of hot-rolled, cold-rolled, and galvanized products found mills more willing to negotiate spot pricing this week, according to our most recent survey data. However, buyers of Galvalume and plate products said mills were less willing to talk price.
SMU price ranges: Sheet dips below $700/ton to 8-month low
US sheet prices edged lower this week as discounting continues. Major factors remain ample supply, shorter lead times, and lower input costs. Meanwhile, demand had remained steady to soft, depending on the end market. SMU’s hot-rolled (HR) coil price now stands at $685 per short ton (st) on average, down $25/st from last week. Hot […]
USS expects lower Q2 profits, gives update on Big River
U.S. Steel has guided to lower second-quarter earnings both sequentially and on-year in "dynamic" spot price market.
Final thoughts
We’ve been writing a lot about sheet prices, and those for hot-rolled (HR) in particular, coming down. Here's one thing that hasn't dropped: The wide spread between HR and cold-rolled (CR) prices. That's what's in a chart below. And I'm using it as a rough proxy for galv and G'lume base prices as well
SMU price ranges: Sheet moves lower, demand struggling
US sheet prices continued to tick down this week as supply seems to outweigh demand, and deep discounts are not only for large-ton buys.
Influx of coated products fuels recent import surge
Steel imports fell back in May from April’s recent high but remained elevated compared to the levels seen over the past year. A deeper dive into the data confirms what SMU has been hearing from sources: Coated sheet is driving the recent rise in overall import levels.
SMU survey: Summer slowdown brings short to normal mill lead times
Movements in steel mill lead times were mixed this week, according to our latest steel buyers survey results. Service centers and manufacturers reported short to average production times, little changed from our last report.
SMU survey: Most sheet, plate buyers find mills more flexible on price
Steel buyers found mills more willing to negotiate spot pricing this week on all products SMU tracks with the exception of Galvalume, according to our most recent survey data.
SMU price ranges: Sheet drops as market debates where/when a floor will be found
US sheet prices remained on a downward course again this week amid chatter in some corners about a potential broader slowdown in demand. SMU’s hot-rolled (HR) coil price now stands at $730 per short ton (st) on average, down $20/st from last week and down $115/st from a recent high of $845/st in early April. […]
SMU price ranges: Sheet slide continues as market seeks direction for June
Sheet prices slipped again this week on a combination of moderate demand, increased imports, and higher import volumes.
Steelmaking raw material prices mixed through May
Steelmaking raw material prices have moved in different directions over the past month, according to SMU’s latest analysis.
SMU survey: Mills less willing to talk price on HRC, other products mixed
Hot rolled buyers found mills less willing to negotiate spot pricing this week, while other products SMU tracks were mixed, according to our most recent survey data.
SMU survey: Lead times sideways to down on sheet and plate
Lead times on most steel products tracked by SMU held steady or contracted this week compared to two weeks earlier, according to our latest market survey.
SMU price ranges: Continued declines across the board
Steel prices eased for both sheet and plate products this week, according to our latest canvass of the market
SMU price ranges: Sheet nears five-month lows
Steel prices were overall mixed this week, according to our latest check on the market. Sheet prices were flat to down, while plate prices inched up. SMU indices on hot rolled, cold rolled, and galvanized are now down to the lowest levels seen since November.
SMU survey: HR, CR, and plate buyers find mills more flexible on price
Hot rolled, cold rolled, and plate buyers said mills are more willing to talk price on spot orders this week, while the overall negotiation rate for products SMU surveys remained level, according to our most recent survey data.