As of Monday, Feb. 24, the steelmaker's list price for HR stood at $860 per short ton (st), up $40/st from last week. The company has increased HR prices by $110/st over the past four weeks, according to SMU's mill price announcement calendar.
Hot-rolled (HR) coil prices leaped in the US this week, while tags abroad saw more measured gains. The result: US hot band prices have become even more expensive than imports on a landed basis. In fact, the premium US HR prices carry over HR prices abroad now stands at a 12-month high.
Cleveland-Cliffs said it will open its April order book for spot material at $900 per short ton (st). The Cleveland-based steelmaker said the increase was necessary because of “rapidly changing market conditions” in a letter to customers dated Friday, Feb. 21.
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.
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.
The price spread between hot-rolled coil (HRC) and prime scrap widened in February ahead of the implementation of President Trump’s tariffs on steel.
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.
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $790 per short ton (st) on Monday, Feb. 10 – a $15/st bump vs. last week. The Charlotte, N.C.-based company has raised its weekly CSP by $40/st over the past three weeks after maintaining tags at $750/st since Nov. 12, according to SMU’s […]
Following the one-year low recorded in November, steel imports rose by 3% in December to 2.14 million short tons (st) according to final US Commerce Department data. January could be the highest month for steel imports witnessed in nearly three years.
Hot-rolled (HR) coil prices moved up again in the US this week, while tags abroad were largely flat. The result: the margin US hot band holds over imports on a landed basis widened further.
Steel mill negotiation rates have declined in each of our last two surveys; this week’s rate is the lowest recorded since March 2024.
SMU’s steel price indices rose across the board this week. Sheet prices increased as much as $35 per short ton (st) compared to last week, while our average plate price ticked up by$10/st.
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $775 per short ton (st) on Monday, Feb. 3. The $15/st week-on-week (w/w) rise marks the first back-to-back increases in the steelmaker’s weekly CSP since last August, according to SMU’s mill price announcement calendar. Nucor’s joint-venture subsidiary California Steel Industries (CSI) is also up […]
Hot-rolled (HR) coil prices ticked up in the US this week, while tags abroad were mixed. The result: the margin US hot band holds over imports on a landed basis widened slightly.
Two US plate mills – SSAB Americas and Evraz North America (NA) – have followed Nucor so far in raising plate prices, with the opening of their March order books. The increases are effective immediately for all new orders, both mills said in letters to customers. Evraz NA said it was increasing transactions by at […]
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $760 per short ton (st) on Monday, Jan. 21. The $10/st week-on-week (w/w) rise marks the first increase in the CSP since Nov. 12. According to SMU’s mill price announcement calendar, the Charlotte, N.C.-based steelmaker held the weekly price at $750/st for 11 […]
US hot band margin over imports on a landed basis has narrowed further.
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.
Hot-rolled (HR) coil prices ticked down in the US last week, while tags abroad varied. The result: US hot band margin over imports on a landed basis has narrowed to a slight extent. SMU’s average domestic HR price last week was $685 per short ton (st), down $5/st from the week before. US hot band […]
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.
The price spread between hot-rolled coil (HRC) and prime scrap continued to narrow in January, according to SMU’s most recent pricing data. While SMU’s average HRC price edged down week over week (w/w), it rose compared to a month ago. The January price for busheling also increased from December. Our average HRC price as of […]
Domestic steel imports fell 14% from October to November to a one-year low of 2.07 million short tons (st), according to final US Commerce Department data. While steel trade has declined from early-2024 highs, November imports are slightly higher than volumes seen one year prior.
Hot-rolled (HR) coil prices ticked up in the US last week, while tags in offshore markets were mostly unchanged. The result: US hot band is more expensive than imports on a landed basis.
While steel news may be starting 2025 off with a bang, Nucor’s consumer spot price (CSP) for hot-rolled coil is not.
Hot-rolled (HR) coil prices were flat in the US this week, while tags in offshore markets were mostly down.
Nucor said on Monday, Dec. 30, that it was keeping its spot base price for hot-rolled sheet this week at $750 per short ton (st).
The price premium between stateside hot band and landed imports widened slightly this week.