Domestic sheet prices fell sharply this week, marking their first substantial drop following nearly two months of mostly sideways or modestly downward moves. Another month of falling scrap prices appears to have been the catalyst. Another is this: Mills that had talked about discipline on the way up are now fighting for market share, sources […]
The ongoing trend for steel sheet prices has remained mostly flat over the past several weeks, and this week was really no exception. We’ve seen a tightening of spreads between hot-rolled coil prices and those for cold rolled, galvanized, Galvalume. And the trend of narrowing spreads is even more pronounced when it comes to plate. […]
Sheet prices continued to tread water this week, with modest declines in hot-rolled coil and galvanized base prices offset in part by minor gains in cold-rolled coil and in Galvalume. Plate prices were also flat, following declines in prior weeks, on the heels of Nucor on Monday announcing unchanged pricing for discrete plate. Our benchmark […]
The Hamilton, Ohio-based Matandy steel and metal companies are now 100% employee owned. The prior owners of 35 years, Frank and Joanne Pfirman, recently converted the company to an employee stock option plan, surprising its 110 employees on Sept. 28 with the announcement. “I knew if we were to sell to a competitor or venture […]
Steel mill lead times shrunk across the board this week, with the processing time narrowing for all five products we track. SMU’s latest lead times analysis shows that production times on hot rolled, galvanized, and plate products declined 0.1–0.3 weeks compared to our previous check on the market, while cold rolled and Galvalume lead times […]
The power position in price negotiations between steel mills and steel purchasers has seen a complete turn around in the past six months, transitioning from a seller’s market in March and April to a strong buyer’s market today. According to our latest steel market survey, the percentage of buyers reporting that mills are willing to […]
Prices for steel sheet remained mostly flat again this week, up or down modestly depending on the product. Hot-rolled coil was up $5 per ton ($0.25 per cwt), cold-rolled was down $10 per ton, and both galvanized and Galvalume base prices were down $5 per ton. What we’ve seen for the last month is an […]
Well, I guess it’s the official outage and idling season. In the month of September alone we’ve confirmed a half dozen or more maintenance outages (some pulled forward) and temporary idlings. Why? It sure looks like some steelmakers are trying to deal with declining demand and uncertain market conditions. The hope? Somewhat of a stopgap measure […]
Steel Market Update is pleased to share this new, Premium content — an index comparing lead time and demand data — with Executive members. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Apparent demand for flat-rolled steel in the US saw its sharpest decline since our early July reading when the index fell seven […]
Prices for each of the steelmaking raw materials tracked in this SMU analysis decreased over the last 30 days, further declining from the record-high levels seen in March and April. Through the latest data available as of Sept. 21, zinc prices decreased 12% in the last month, busheling scrap and aluminum prices fell 7%, pig […]
Sheet prices drifted sideways to down this week, while plate prices fell substantually following the Nucor price decrease announcement on Monday. SMU’s hot-rolled index eased an average of $15 per net ton this week to $770 per ton. This is now tied with our late August price for the lowest HRC price seen since November […]
Steel mill lead times were overall flat this week, with the processing time for some orders slightly extending and others shrinking. Hot rolled and Galvalume lead times increased compared to our previous market check, while cold rolled, galvanized, and plate lead times slightly declined. On average this week, lead times were unchanged compared to two […]
The percentage of buyers reporting that mills are negotiable on new order pricing grew this week. According to our latest steel market survey this week, the majority of the steel executives polled reported that mills are willing to talk price to secure an order. A high willingness to negotiate has been evident in each of […]
Sheet and plate prices continued to drift sideways this week as steel mills attempt to hold the line despite weak signals from the scrap market. Mills are more unified in trying to hold the line around $800 per ton ($40 per cwt) on hot-rolled coil following deep discounting ahead of announced price increases last month. […]
Sheet and plate prices were flat or down this week as some market participants questioned whether tags might be beginning to inflect lower. Hot-rolled and cold-rolled prices were down $5 per ton week over week. Galvanized (down $55 per ton) and Galvalume (down $40 per ton) fell more significantly. The steeper declines in coated products […]
Prices for five of the seven steelmaking raw materials tracked in this SMU analysis decreased over the last 30 days, further declining from the record levels seen in March and April. Through the latest data available as of August 31, pig iron prices decreased 38% in the last month, busheling scrap prices fell 14%, aluminum […]
After contracting in mid-August, the percentage of buyers reporting that mills’ prices are negotiable grew this week. All but 15% of the steel executives polled this week reported that mills are willing to talk price to secure an order, according to our steel market surveys. A high willingness to negotiate has been evident in each […]
Flat-rolled steel prices were steady to up based on the data points SMU collected this week. There’s undoubtedly been pressure from recent mill price hikes, but it’s still far too early to tell if they will stick or if this is just a blip. Sheet prices rose for each of our products this week. The […]
Sheet prices are down across the board this week, putting big cracks in any hopes that hot-rolled coil prices would find a bottom around $800 per net ton ($40 per cwt). The declines came as market participants reported that at least one large producer had cut deals at low levels and, in doing so, put […]
The percentage of buyers reporting that mills’ prices are negotiable contracted this week, following more than two consecutive months of rising negotiation rates. Four out of five steel executives polled this week reported that mills are willing to talk price to secure an order. According to our steel market surveys, a high willingness to negotiate […]
Steel mill lead times were relatively flat this week compared to our previous market check, with some products slightly up and others down. Hot rolled, cold rolled and plate lead times slightly declined compared to levels seen two weeks ago, while coated lead times increased. On average this week, lead times increased by 0.2 weeks […]
Steel mill lead times were mixed this week, with the processing time for some ordered products extending, shrinking for one, and another holding steady. Cold rolled and coated lead times increased compared to our previous market check, while plate lead times slightly declined and hot rolled lead times remained flat. On average this week, lead […]
Sheet prices were mixed this week as market participants continued to debate whether a recent round of price hikes had stuck. While some said the increases would provide a floor and prevent further price erosion, others said prices were more likely to resume their downward trend in the weeks ahead. There were also questions about […]
North Star BlueScope is “substantially complete” with a $700 million expansion that will provide the Delta, Ohio, EAF sheet mill with additional annual capacity of nearly 950,000 short tons (850,000 metric tonnes). The mill produced the first coil from its expansion in June and has begun the 18-month process of ramping up the facility to […]
SMU’s benchmark hot-rolled coil price inched upward for the first time since mid-April, nearly four months ago. The modest gain came even as cold-rolled and coated prices continued to see significant declines. Plate prices were roughly flat. By the numbers: Our average hot-rolled coil price now stands at $820 per ton ($41 per cwt), up […]
As has been the case for six weeks now, nearly nine out of ten steel executives polled this week reported that mills are willing to talk price to secure an order. According to our steel market surveys, a high willingness to negotiate has been evident in each of our checks since early May. SMU polls […]
Steel mill lead times were mixed this week, with some products slightly up and others down, according to SMU’s latest market check. Hot rolled and plate lead times rose compared to what we saw two weeks ago, while cold rolled and coated lead times inched further downward. Is this just a blip or the start […]
Sheet prices continued to move lower this week, and plate joined the downward trend following a price decrease announced last week by Nucor Corp. Hot-rolled coil prices now have a tenuous grasp on $800 per ton ($40 per cwt). SMU’s average HRC price stands at $805 per ton, down $35 per ton from last week […]
Prices for all seven of the steelmaking raw materials tracked in this SMU analysis declined over the last 30 days, receding further from record-high levels seen in March and April. Through the latest data available as of July 27, coking coal prices decreased 56% compared to one month prior, pig iron and busheling scrap prices […]
Prices for hot-rolled, cold-rolled and galvanized flat-rolled steel fell again this week with little signs of a near-term bottom. Hot-rolled prices fells into the low $800s per ton ($40s per cwt). Cold-rolled and galvanized base prices, meanwhile, fell into the $1,200s per ton ($60s per cwt) for the first time since mid-March. Spreads between highs […]