Mills historically have enjoyed a healthy price premium for cold rolled and galvanized products over hot rolled, at times reaching as high as $220 per ton. More recently, due to the tight supplies of hot rolled, the differential has dipped as low as $80 per ton, prompting at least one mill to act. ArcelorMittal USA […]
If nothing else, foreign steel imports are resilient. After June imports came in at 2,491,574 net tons, July headed right back to 3.2 million net tons on the back of the domestic steel mills who imported approximately 800,000 of slabs. Now, based on August license data through today (Tuesday, Aug. 14), the domestic mills are […]
ArcelorMittal USA probably surprised some customers with their announcement of a $30 per ton price increase on cold rolled and coated products. My opinion is ArcelorMittal is trying to increase the spread between the hot rolled base price and that of cold rolled and coated products. I also think they are trying to boost base […]
Lead times for steel delivery are a measure of demand at the mill level. Lead times on most flat rolled steel products continue to shorten, according to Steel Market Update’s latest market trends data, suggesting that the mills are not as busy as they were earlier in the year and may be more open to […]
Negotiations between steel mills and buyers have loosened considerably as the mills appear significantly more willing to negotiate spot prices than at any other point this year. Every two weeks, in a proprietary poll, SMU tracks how buyers and sellers of flat rolled steel represent the mill negotiation position. According to respondents to this week’s […]
A pretty quiet week as buyers and sellers sneak away for their summer vacations. Not much has changed. We saw a few of the flat rolled items as down $5 to $10 per ton and one as unchanged compared to one week ago. Plate prices were up as mills start to take October orders. Here […]
Reports of demand easing a bit in some markets and declining scrap prices in August hint at a steel market that may be in transition. But steel prices remained largely unchanged from last week based on Steel Market Update’s latest data. Here is how we see prices this week: Hot Rolled Coil: SMU price range […]
Imports of foreign steel remain surprisingly resilient despite the 25 percent tariff imposed by the Trump administration. Imports saw a decline in June, but appear to be rebounding in July. Imports of foreign steel declined by about 450,000 tons in June or 15.3 percent from the previous month, according to preliminary Census data released by […]
Lead times, especially on hot rolled steel, have continued to gradually shorten over the past couple of months, according to Steel Market Update’s latest market trends data. Lead times for hot rolled now average just above five weeks, for cold rolled a bit less than seven and a half weeks, for galvanized a bit more […]
Negotiations between steel mills and buyers may have turned a corner as the mills appear significantly more willing to negotiate spot prices than at any other point this year. “We’re sensing that some of the steel mills have holes in their August order book for hot rolled coil,” one steel pipe executive told Steel Market […]
We saw either sideways or modest gains in flat rolled steel pricing this week. Lead times continue to be extended by historical standards and, of course, the 25 percent tariff on most of the foreign steel coming into the United States continues and it does not appear it will be withdrawn at any time soon. […]
The market has been relatively quiet this past week with only minor adjustments to the flat rolled indices. Steel Market Update is hearing steel buyers’ concerns about possible price declines. At the same time, there are others who are positive that prices will remain within $50 per ton of today’s levels through the end of […]
How sustainable are the high steel prices in the United States? Steel Market Update sources point to a number of risk factors that buyers should consider. One service center general manager told us flat rolled and plate prices could only be threatened by an increase in imports. “Sharp price declines are caused by sharp increases […]
This Steel Market Update report examines the import share of sheet, plate, long and tubular products and 16 subcategories through May. Table 1 shows total supply to the market in three months through May and in 12 months through May for the four product groups and the 16 subcategories. Supply to the market is the […]
This analysis breaks down the imported tonnage of six flat rolled products into the district of entry and the source country. We believe that misinformation (or lack of) about local import volumes is often used to influence purchase decisions. Our intent with this analysis is to describe in detail what is going on in a […]
Steel buyers are divided on whether prices have peaked, but most would agree that if they do move higher, any increase will be modest. Steel Market Update canvassed sources this week. Said one executive, expressing a common view: “I don’t see prices rising. I feel we are at the top.” Others anticipate a modest uptick […]
Flat rolled steel prices were stable to moderately lower this week. Benchmark hot rolled coil was unchanged and, along with plate, is the strongest of the products followed by Steel Market Update. Cold rolled and galvanized index averages were lower compared to one week ago, while Galvalume was unchanged. September orders for plate delivered to […]
Mill lead times on most flat rolled steel products saw little change in the past two weeks, according to Steel Market Update’s latest market trends data. Lead times for hot rolled now average nearly five and a half weeks, cold rolled a bit less than seven and a half weeks, and galvanized a bit more […]
Steel mills appear slightly more willing to negotiate spot prices on cold rolled and less open to price discussions on hot rolled, galvanized and Galvalume products, according to respondents to last week’s Steel Market Update market trends questionnaire. Every two weeks, in a proprietary poll, SMU tracks how buyers and sellers of flat rolled steel […]
(Updated 6/27/2018) Steel Dynamics, Inc. has announced plans to expand its offering of value-added flat roll steel products through the addition of a new galvanizing line in Columbus, Miss. The company plans to invest $140 million, adding a third galvanizing line at its Columbus Flat Roll Division. The new galvanizing line will have an annual coating capability of […]
Steel Market Update canvassed steel buyers over the past two days and found that flat rolled prices are mixed and plate prices are rising. Two of our flat rolled indices increased over the prior week, and two of them declined, while the plate index rose. Here is how we see prices this week: Hot Rolled […]
We are in the middle of a U.S. holiday week, and the Fourth of July on a Wednesday gave plenty of steel buyers and sellers an excuse for taking the week off, or at least an extended long weekend. Benchmark hot rolled prices were seen as being modestly lower based on the responses received from […]
On Tuesday evening, the U.S. Department of Commerce releases the import licenses collected by product and by country through that date. This week, the licenses were reported for the first 19 days of June 2018. After looking at the data (see story about June import trend in tonight’s issue of SMU), the head of commercial […]
Mill lead times on all flat rolled steel products shortened in the past two weeks, according to Steel Market Update’s latest market trends data. Lead times for hot rolled now average a bit over five weeks, cold rolled a bit over seven weeks, and galvanized and Galvalume at roughly seven and a half weeks. Lead […]
Steel mills appear slightly more willing to negotiate spot prices on hot rolled, cold rolled and coated steel than two weeks ago, according to respondents to this week’s Steel Market Update market trends questionnaire. Every two weeks, in a proprietary poll, SMU tracks how buyers and sellers of flat rolled steel represent the mill negotiation […]
On Tuesday, the U.S. Department of Commerce reported foreign steel import license data for the first 19 days of June. The data is indicating to Steel Market Update a significant drop in imported foreign steel. Taking the daily license rate and spreading it across the 30 days of June, we see the month trending toward […]
Twice each month, Steel Market Update conducts a review of the flat rolled and plate steel industries. We do this through a web-based questionnaire, which is sent to approximately 640 individuals associated with either the flat rolled or plate steel industries. The individuals invited are from manufacturing, steel distribution, steel mills, trading companies and toll […]
U.S. steelmakers filed trade cases this week on cold rolled and corrosion resistant (CORE) steels alleging that Korea and Taiwan are guilty of using the same circumvention tactics as the Chinese–namely sending hot rolled and cold rolled substrate to Vietnam. As many predicted, the Commerce Department’s recent Chinese circumvention ruling has set a precedent that […]
Earlier this week, the Department of Commerce reported license data for the month of June 2018. Based on licenses through June 12, the trend is for June foreign steel imports to come in around 2.1 million net tons. If the pace of actual receipts matches the pace of the licenses seen so far this month, […]
I am excited for you, our customers. I have been working closely with the CRU Group, and our members will begin to see some subtle changes to the articles we write. One will be the use of CRU data on such items as our Foreign vs. Domestic Price Spread articles, which we will publish in […]