After a multi-week increase, buyers responding to our market survey this week reported that lead times are stabilizing or marginally declining for each of the sheet and plate products we track.
Ternium Mexico wants the Commerce Department to delay making its final decision in the ongoing corrosion-resistant steel dumping investigation.
Steel prices climbed across the board this week, with every steel product tracked by SMU rising to multi-month highs.
One buyer summed up the prevailing sentiment: “Everything is pointing up — pricing, sentiment, order activity. But the real test will come once the immediate reactionary buying subsides. Will there be enough true demand to support these levels through mid-year? That’s the big unknown.”
"Recent activity in the marketplace strongly indicates that these imports are being rushed into the United States in an effort to avoid the imposition of antidumping duties," petitioners said.
Mills’ flexibility on price for spot orders has taken a nosedive to levels not seen since the end of March 2023.
NLMK USA has opened its April order book at new, higher base prices for steel sheet, according to market participants. The steelmaker is seeking at least $900 per short ton (st) for hot-rolled (HR) coil and at least $1,100/st for cold-rolled and coated products, they said.
U.S. Steel has increased prices for flat-rolled steel by at least $50 per short ton (st), according to market participants. The Pittsburgh-based steelmaker now seeks a minimum of $850/st for hot-rolled (HR) coil. And it seeks at least $1,050/st for cold-rolled and coated base prices, they said.
The latest in the new coated steel investigation and the expiry review of steel plate from six countries.
Each of the steel product prices tracked by SMU saw significant increases this week. All four of our sheet price indices rose by $30-50 per short ton (st) on average. Plate prices popped $60/st compared to the week prior.
Steel mill negotiation rates have declined in each of our last two surveys; this week’s rate is the lowest recorded since March 2024.
The Commerce Department on Tuesday issued preliminary subsidy rates in the corrosion-resistant steel (CORE) trade case. The agency set minimal countervailing duty (CVD) rates for Brazil and Mexico, mostly high rates for Vietnam, and low rates for Canada, except for one privately held distributor. Commerce assigned that company, Nova Steel, and a handful of Vietnamese […]
On Jan. 18, Teck Resources announced that it expects its Trail smelter in Canada to produce 190,000 to 230,000 metric tons (mt) in 2025, down 10-25% from its 256,000 mt output in 2024. The company announced that the lower output was to maximize profitability and value amid the current tightness in zinc concentrate availability relative […]
AZZ Inc. recently announced it is shaking up the duties and roles of two executives involved in its Precoat Metals segment. Kurt Russell, Precoat’s current chief operating officer and former president, is moving into a senior vice president position within AZZ Inc. into the newly created role of chief strategic officer. “We are excited to […]
Less-than-fair-value investigations The US Commerce Department has agreed to postpone preliminary decisions in the corrosion-resistant steel (CORE) antidumping duty (AD) investigations. Commerce said in a Federal Register filing that it will now issue initial AD margin determinations by April 3. The deadline had previously been Feb. 12. The extension comes after domestic petitioners requested earlier […]
The majority of steel buyers we canvassed this week continue to report that mills are willing to negotiate prices on new spot orders, though not as much as they were in early-January.
Sheet and plate prices remained in a holding pattern this week as the market awaited more specifics on potential Trump administration tariffs.
The price premium of galvanized coil over hot-rolled (HR) coil has continued to narrow, a downward trend seen for the past seven months. As of this week, the spread between these two products has reached an 18-month low.
Reflecting on 2024 and looking ahead to the new year, galvanized steel buyers on this month’s HARDI call expressed a mix of cautious optimism with lingering uncertainties.
The steel industry may have to wait even longer for the initial duty determinations in the pending coated steel unfair trade investigations.
The Commerce Department is raising the import duties on imports of corrosion-resistant sheet and cut-to-length plate from Korea.
Steel prices have remained relatively stable in recent weeks, though they have generally trended downward since October.
Canada has launched its own investigation into the dumping of corrosion-resistant steel sheet. Unlike the sprawling coated case underway in the US, this one will look at coated imports from just one country and company.
This week, the spread between SMU's hot rolled and galvanized indices is only a few dollars away from a 16-month low.
The slowdown in North American zinc demand in recent months has played out across all sectors, and CRU now expects it to contract by 3.7% y/y.
Domestic galvanized prices remain relatively rangebound despite the conclusion of the US presidential election.
At the request of domestic petitioners, the Commerce Department has postponed its deadline for making preliminary countervailing duty margin determinations in the coated steel trade case investigations.
The theme of “unprecedented stability” in pricing predominated among galvanized steel buyers this month.
Nucor isn’t overly concerned with low utilization rates or an oversupplied market, as its investment strategy is for the long term, executives reminded investors on Tuesday.
On Friday, the US International Trade Commission (ITC) voted to continue the trade case investigation of corrosion-resistant (CORE) steel imports from 10 trading partners.