Sheet prices fell across the board this week – largely in response to Nucor’s $65-per-short-ton price cut for hot-rolled (HR) coil on Monday morning. SMU’s HR coil price is $780/st on average, a $35/st decrease week over week (w/w). Our average cold-rolled coil price is $1,090/st (down $30/st w/w). Our galvanized base price is $1,100/st […]
CRU principal analyst Ryan McKinley will be the featured speaker on the next SMU Community Chat on Wednesday, May 15, at 11 am ET. McKinley is instrumental in determining CRU’s benchmark hot-rolled (HR) coil price. He’ll discuss his role, his background in steel, and how the index works.
Everybody has a plan… until they’ve dealt with volatility in the HRC market. While Mike Tyson’s original quote was about getting punched in the mouth, it’s unlikely the ex-champ has gone many pricing rounds with hot-rolled coil.
U.S. Steel posted slightly lower Q1’24 earnings as stronger earnings from its sheet mills were partially offset by a weaker performance from it tubular division. All told, the Pittsburgh-based steelmaker reported Q1’24 earnings of $171 million. That's down 14.1% from $199 million in Q1’23 on sales that fell 6.9% to $4.16 billion in the same comparison.
“One thing we know for certain, however, is that when we write our next column, things will have certainly shaken loose.” – Daniel Doderer, April 4, 2024. Above is a good reminder that whenever someone is “certain” of anything, you should probably look at that line of thinking with a healthy dose of skepticism.
US steel mill shipments dropped in March on-year but were up from February, according to the most recent figures from the American Iron and Steel Institute (AISI).
Sheet prices were flat or moderately down again this week – underscoring the shift in momentum we’ve seen over the last month. The exception was hot-rolled (HR) coil, which was largely unchanged from last week.
Hot-rolled coil and plate lead times contracted this week, with most other products remaining flat, according to SMU's most recent survey data. Cold-rolled products, however, saw lead times extend 0.1 weeks to an average of 7.5 weeks vs. two weeks earlier. Hot rolled and plate lead times both contracted 0.3 weeks from our last market check.
I’ve gotten some questions lately about whether the huge gap between domestic hot-rolled coil (HR) prices and those for cold-rolled (CR) and coated is sustainable. I remember being asked similar questions about the wide spread between HR and plate that developed in early 2022. I thought at the time that there was no way that spread could hold. Turned out, I was wrong. That was humbling. And so I’m not going to make any bold predictions this time.
Sheet steel buyers said mills are more willing to talk price on spot orders, according to our most recent survey data.
US hot-rolled (HR) coil remains more expensive than offshore hot band, though with a tighter premium as prices stateside and abroad have ticked lower in recent weeks.
Sheet prices were again mixed this week – all seemed to highlight the momentum shift seen over the past two weeks.
Nucor executives explained their recently introduced hot-rolled (HR) coil consumer spot price (CSP) is a way to serve their customers and deal with market volatility.
Nucor’s earnings slipped in the first quarter of this year, but the company said it launched key growth initiatives during this time period.
Nucor is holding its hot-rolled (HR) coil consumer spot price (CSP) flat this week.
It has been a crazy 2024 so far for hot-rolled coil (HRC) futures!!!
Sheet prices varied this week. While hot-rolled (HR) coil pricing was largely flat, cold-rolled (CR) coil and tandem product pricing eased slightly reflecting the momentum shift seen last week for HR coil. SMU’s average HR coil price was flat from last week at $835 per short ton (st) – potentially emphasizing the tension between competing […]
Flat Rolled = 58.3 shipping days of supply Plate = 60.6 shipping days of supply Flat Rolled US service center flat-rolled steel inventories edged up in March as shipments remained low. At the end of March, service centers carried 58.3 shipping days of supply on an adjusted basis, up from 56.6 shipping days in February. […]
Does the price of ferrous scrap depend on the price of finished steel product? And how much of an influence do billet and slab prices have on scrap prices?
Nucor said its spot hot-rolled (HR) coil price for the week of April 15 will be $835 per short ton (st), up $5/st from last week. The Charlotte, N.C.-based steelmaker said the new price would be effective immediately in a letter to customers on Monday morning. The exception again is California Steel Industries (CSI), Nucor’s […]
The market appears to be taking a pause after the heavy buying that occurred in March.
Steel buyers said mills are more willing to talk price on spot orders on all the products SMU covers, according to our most recent survey data.
Steel prices continued to ease lower in early March – a trend seen since mid-January – before showing signs of bottoming and inflecting up. The SMU Price Momentum Indicator for sheet products shifted from lower to neutral mid-way through the month after Nucor, Cleveland-Cliffs, and ArcelorMittal all targeted new base minimums between $825-840 per short […]
The spread between hot-rolled coil (HRC) and prime scrap prices has widened this month after narrowing for three months, according to SMU’s most recent pricing data.
Sheet prices saw a slight momentum shift this week after consecutive gains in the prior two weeks. Plate edged lower on greater competition off easing demand, according to our latest check of the steel market.
Nucor said its new weekly hot-rolled coil spot price is not meant as a substitute for any current price indices.
Sheet prices moved higher this week for the second consecutive week, while plate prices ticked lower, according to our latest canvas of the steel market.
Nucor intends to keep plate prices unchanged with the open of its May order book, according to a letter to customers dated Thursday, March 28. The Charlotte, N.C.-based steelmaker said the announcement would be effective with new orders received on Friday, March 29.
SMU latest' steel market survey paints the picture of sheet market that has hit bottom and begun to rebound. Lead times are extending again after stabilizing earlier this month. Mills are far less willing to negotiate lower sheet prices - even if there are still deals to be had on plate, according to the steel buyers we canvassed.
After stabilizing in our last check of the market, production times for flat-rolled steel have begun to push out further, according to steel buyers responding to SMU's market survey this week.