HRC Futures: Utilizing Futures Spreads
Several past columns in SMU have included comments about the futures forward curve, using terms like contango and backwardation
Tag: Hot-Rolled Coil
US Hot Rolled Prices Surge Past Offshore Product
Hot-rolled coil (HRC) tags continue to rally in the US, broadening the price disparity between domestic and imported offshore product.
Stelco Q3 Profits Fall on Lower Prices, CEO Predicts Better '24
Canadian flat-rolled steelmaker Stelco recorded a drop in third quarter profits on lower steel prices and sales volumes. The Hamilton, Ontario-based company predicted that volumes would be lower still in the fourth quarter. But it also said that financial results would improve next year on higher prices and longer lead times.
SMU Price Ranges: Sheet Skyrockets, Plate Stumbles
Spot prices for steel sheet continued to shoot upward this week, which brought yet another round of price hikes.
Cliffs Lifts Sheet Prices, Seeks $1,000/ton HRC
Cleveland-Cliffs Inc. said on Tuesday that it had raised minimum base prices for hot-rolled coil (HRC) to $1,000 per ton ($50 per cwt).
Commerce Updates Duties on HR Flats From Japan, South Korea
The US Department of Commerce’s International Trade Administration (ITA) is updating import duties on hot-rolled steel flat products from Japan and South Korea.
SMU's October at a Glance
SMU gives an overview of the steel market and economic indicators for October.
Gap Widens Between US and Foreign Hot Band Prices
US hot-rolled coil (HRC) tags moved higher again this week, widening the gap in pricing between imported offshore product.
Plate Report: Nucor’s Plate Price Cut Stuns
Nucor’s plate price cut notice caught many off guard this week, especially after the company had maintained its pricing position in late September.
AM/NS Calvert Increases Sheet Again, Seeks $900/ton HR base
ArcelorMittal joins U.S. Steel and Cleveland-Cliffs, pushing sheet prices higher, according to an internal commercial memo on Oct. 31.
Final Thoughts
Sheet prices are getting back into very lofty territory. That’s assuming you can find spot tons available for the balance of 2023 – and some of you say you can’t.
SMU Price Ranges: Sheet Surges on Limited Spot Availability, Plate Drops on Nucor Decrease
Sheet prices surged this week on limited spot tonnage and on the heels of steep price increases announced by domestic mills.
Cleveland-Cliffs Raises Sheet Prices, Seeks $900/ton for HRC
Cleveland-Cliffs said Tuesday that it would increase spot market base prices for carbon hot-rolled, cold-rolled, and coated steel sheet.
Final Thoughts
The first rule of Steel 101 is that you’re free to talk about Steel 101. We actually encourage it. Last week on Tuesday and Wednesday, SMU’s Steel 101 was held in Mt. Pleasant, S.C.
U.S. Steel Talks Price Hike, Investments; Says Little on Sales Process
U.S. Steel’s third-quarter earnings call with analysts on Friday, Oct. 27, was packed full of insight into the Pittsburgh-based steelmaker’s current state of affairs.
Final Thoughts
I wrote on Sunday that it could be a busy week for steel. It has been.
HRC Futures Go Vertical
These were the headlines hot off the press Wednesday night:
SMU Survey: Mill Lead Times Push Out Further
Mill lead times for flat-rolled products pushed out this week once again across the board.
SMU Survey: Mills Less Willing To Talk Price on Sheet, Plate More So
Steel buyers said mills are less willing to budge on spot pricing for sheet products, but plate bucked this trend, according to SMU’s most recent survey data.
U.S. Steel Up Another $100/ton on Sheet
U.S. Steel on Thursday announced that it would increase spot prices for steel sheet by another $100 per ton.
Final Thoughts
Taylor Swift’s “Shake It Off” could be the theme song for the sheet market over the last month. A UAW strike? Shake it off. The lowest ABI since December 2020? Shake it off. A potentially widening conflict in the Middle East? Shake it off. Sheet prices have been rising since late September, and hot-rolled coil […]
SMU Price Ranges: Sheet Up as Price Hikes Gain Traction
Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.
AM/NS Calvert, Stelco Follow Major Sheet Mills Higher
ArcelorMittal and Stelco joined last week’s move by domestic mills to push sheet prices higher.
South Korea, Brazil Won’t Max Out HRC Quotas This Year
South Korea and Brazil will not be maxing out their allowable quotas on hot-rolled sheet shipments to the US for 2023, according to government data analyzed by SMU.
HRC Futures: A Swing in the Market
Well, what a difference a month makes…
U.S. Steel Raises Sheet Prices by $100/ton
U.S. Steel on Thursday said it planned to increase spot base prices for steel sheet by at least $100 per ton ($5 per cwt).
Domestic HRC Prices Surpass Foreign Hot Band
US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.
Cleveland-Cliffs Ups Sheet, Aims for $800/ton HR Price
Cleveland-Cliffs said on Thursday it's targeting a minimum base price for hot-rolled steel of $800 per net ton ($40 per cwt).
Nucor Hikes Sheet Prices, Seeks $800/ton HR Base
Nucor Corp. aims to raise base prices for hot-rolled coil to a minimum of of $800 per ton ($40 per cwt).
SDI Posts Q3 Profit Drop on Lower Steel Prices
Steel Dynamics Inc. (SDI) reported a drop in third quarter profits on lower prices for flat-rolled steel as well as for fabricated products.