This pre-holiday steel market feels a little like the one before Thanksgiving – albeit at approximately double the price. Back in November, hot-rolled coil prices had crashed to around $600 per ton ($30 per cwt), and there were questions about whether and when mills might push to increase prices to more sustainable levels. Now, HR […]
Steel mill leads time were largely flat this week, a trend change in a year that has seen them mostly rising, according to SMU’s latest steel market survey data. Case in point: hot-rolled coil lead times were flat for the first time since early January. We’ve noted a similar trend in prices, which tend to trend […]
The appeal for imports of hot-rolled coil (HRC) remains strong even as US price gains have slowed, according to SMU’s latest foreign vs. domestic price analysis. And while we haven’t seen an official mill pricing notice in nearly three weeks, domestic tags continue to inch higher towards the targeted base price of $1,200 per ton […]
SMU’s hot-rolled coil price posted its smallest week-over-week (WoW) price gain since mid-January. Some sources said the market might be at or near a peak. But others said it might be taking a break ahead of domestic mills rolling out another round of price hikes. Our average hot-rolled coil price stands at $1,145 per ton ($57.25 […]
The outlook for the construction industry is relatively optimistic, despite the uncertain state of the overall economy, according to Ken Simonson, chief economist of the Associated General Contractors of America (AGC). Simonson, who chatted with SMU chief editor Michael Cowden on the March 22 SMU Community Chat, provided the most recent data covering many aspects […]
The appeal for imports of hot-rolled coil (HRC) continues to grow as US prices move higher in response to repeated mill tag hikes. The price advantage domestic HRC had enjoyed over offshore just last month has swung negative at an accelerated rate, according to SMU’s latest foreign vs. domestic price analysis. The most recent pricing […]
The spread between hot-rolled coil (HRC) and prime scrap prices has widened significantly in March as both products saw large price gains, according to Steel Market Update data. With a flurry of recent price increases, our hot-rolled coil price average jumped $25 per ton week over week to $1,140 per ton ($57 per cwt) as of March 21. […]
Imported sheet and plate products’ arrival at US ports rose in January, leading their share of the US markets to recover, while domestic shipments varied during the month. That’s according to a Steel Market Update’s analysis of import data from the US Commerce Department and domestic shipment figures from the American Iron and Steel Institute […]
This week started without a price increase. Not that we needed another. Still, it felt weird after so many consecutive weeks of them. Prices continue to move up even without increases and lead times continue to extend. But the pace has moderated. Our hot-rolled coil price stands at $1,140 per ton ($57 per cwt) this […]
Flat-rolled steel prices are still trending up in the wake of recent mill tag hikes, albeit at a slower pace this week. We’ve seen a rather notable market cycle over the past 15-plus weeks with repeated price hikes. Is it starting to peter out, or just catching its breath? Hot-rolled coil (HRC) prices have increased […]
Citing rising raw material costs and strong demand, Nucor Tubular Products has announced its fourth price increase so far this year. The tubular producer said in a March 17 letter to customers that new orders for hollow structural sections (HSS), pipe, mechanical, and piling products will increase by $150 per ton, effective immediately. Earlier, on […]
Price increases have dominated the headlines thus far in 2023. Since Jan. 1, we’ve had one blitz of tag hikes after another. In the eleven weeks since the start of the year, there’s only been a single week in which not a single mill announced a price increase. It sometimes felt like one mill had […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. Rock provides customers attached to the steel industry with commodity price risk management services and market intelligence. RTA is registered with the National Futures Association as a Commodity Trade Advisor. David has over 20 years of professional trading experience and has been active […]
Imports of hot-rolled coil (HRC) are becoming more attractive as US mills continue to drive domestic prices higher. The price advantage domestic HRC had enjoyed over offshore hot band as recently as five weeks ago swung negative, mirroring dynamics seen more than a year ago, according to Steel Market Update’s latest foreign vs. domestic price […]
Despite a record backlog, Northwest Pipe Co. is experiencing a challenging start to the year, with customer-driven delays and severe weather hampering production at its various facilities. The Vancouver, Wash.-based company noted the challenges as it released its fourth-quarter and full-year 2022 results. Q4 brought higher production tonnages but lower selling prices within Northwest’s engineered steel […]
Total US mill shipments of steel products increased in January, recovering from a 23-month low the month prior. January’s shipments were the highest since last August and totaled 7.63 million tons, a 6.5% increase from December’s 7.17 million tons. Apparent supply also saw a month-on-month (MoM) increase in January, up 7.9% vs. the prior month. This analysis […]
Flat Rolled = 52.2 Shipping Days of Supply Plate = 45 Shipping Days of Supply Flat Rolled US service center flat-rolled steel supply in February edged down slightly, while the amount of material on order surged. At the end of February, service centers carried 52.2 shipping days of supply, according to adjusted SMU data. This […]
What’s perhaps most shocking about Cleveland-Cliffs starting the week up $100 per ton ($5 per cwt) on sheet and targeting $1,200 per ton for hot-rolled coil (HRC) is that many of you didn’t find it shocking. In early February, we got used to prices going up by $50 per ton from one week to the […]
Flat-rolled steel prices continue to rise in response to repeated mill pricing announcements, a trend we’ve seen nearly weekly since Monday, Nov. 28, 2022. Hot-rolled coil (HRC) prices have surged by $490 per ton – a 78% jump – since Cleveland-Cliffs and US Steel kicked off the craze with $60-per-ton price hikes. On Monday, Cliffs […]
Cleveland-Cliffs aims to increase spot market prices for hot-rolled, cold-rolled, and coated flat-rolled steel by at least $100 per ton ($5 per cwt) effective immediately. The Cleveland-based steelmaker also said its new minimum base price for hot-rolled coil (HRC) was $1,200 per ton in a press released on Monday, March 13. That’s up from the […]
US plate prices have steadily increased over the past two weeks, largely in response to repeated mill price hikes. The most recent increase came from Cleveland-Cliffs when the steelmaker aimed to increase base prices for steel plate by at least $60 per ton ($3 per cwt). It was Cliffs’ first official plate price notice in […]
The price advantage domestic hot-rolled coil (HRC) had enjoyed over offshore hot band has evaporated as US mills drive prices higher, according to Steel Market Update’s latest foreign vs. domestic price analysis. Nucor and ArcelorMittal last week announced a target price $1,150 per ton ($57.50 per cwt) for HRC. Market contacts have told SMU that some […]
JSW Steel USA said it is the first steel company in the US to adopt Environmental Product Declarations (EPDs). The steelmaker said that with new technology, called “Smart EPD,” it can directly generate and publish verified digital EPDs on demand. Developed by sustainability consultancy TrueNorth Collective, JSW USA said the Smart EPD platform is based on […]
We’ve just seen the biggest week-over-week increase in hot-rolled coil prices since the frenzy following Russia’s invasion of Ukraine last year. SMU’s hot-rolled coil (HRC) price is up $140 per ton ($7 per cwt) week over week. That’s our biggest such gain since prices jumped $210 per ton in mid-March of last year at the height of […]
Aggressive mill price increases are pushing flat-rolled tags up at a sharp clip, rivaling the spike seen in response to the war in Ukraine last March. On Friday, Nucor came out with yet another notice – up an extra $150 per ton ($7.50 per cwt) and setting a new base price for hot band of […]
ArcelorMittal said its new, minimum base price for US hot-rolled coil is $1,150 per ton ($57.50 per cwt). The Luxembourg-based steelmaker said the move was effective immediately and coincided with the closure of its April order book for hot-rolled and tandem products. “The increase is applicable to all new spot orders and all recent quotations […]
Mexico has historically relied on steel sheet product imports to meet its demand as domestic suppliers, such as Ternium and AHMSA, had insufficient production capacity. But, in recent years, both Ternium and ArcelorMittal have built new capacities for hot-rolled (HR) coil in Mexico. Ternium is also in the process of building more downstream capacity and […]
Nucor aims to increase base prices for new orders of steel sheet by at least $150 per ton ($7.50 per cwt) effective immediately. The Charlotte, N.C.-based steelmaker also said that its new base price for hot-rolled coil was $1,150 per ton. “We reserve the right to review and re-quote any offers that are not confirmed […]
A majority of shares in Mexican steelmaker Altos Hornos de México (AHMSA) has been sold to a group of foreign investors, according to reports in the Mexican press. Shareholders of Grupo Acerero del Norte signed an agreement to transfer the majority of AHMSA shares to the group of foreign investors, an article in Milenio said on […]
Domestic hot-rolled coil (HRC) continues to lose its price advantage over imported steel. The reason: US prices continued to move higher following a wave of domestic mill price hikes that began after Thanksgiving and reached a fever pitch in February with near weekly price increases. US HRC had held a price advantage over foreign hot […]