SMU Survey: Sheet Lead Times Extend While Plate Contracts
Lead times for most sheet products were pushed out even further this week as domestic prices continue to rise. Plate lead times, meanwhile, contracted on falling prices and waning demand.
Tag: Lead Times
USS Mon Valley Works Cold Mill Slow To Return From October Outage
U.S. Steel’s Mon Valley Works in western Pennsylvania has not resumed full production of cold-rolled coil (CRC) following an outage last month, a company spokeswoman confirmed.
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.
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.
SMU's October at a Glance
SMU gives an overview of the steel market and economic indicators for October.
Final Thoughts
There was consensus that steel prices would crash on the UAW strike and then rebound just as sharply once the union and the “Big Three” automakers reached tentative deals.
Market Chatter This Week
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, the UAW strike, and what people were talking about in the market.
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.
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 Market Survey Results Now Available
The latest SMU Market Survey results are now available on our website to all Premium members.
Final Thoughts
I wrote on Sunday that it could be a busy week for steel. It has been.
SMU Survey: Mill Lead Times Push Out Further
Mill lead times for flat-rolled products pushed out this week once again across the board.
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.
HRC Futures: A Swing in the Market
Well, what a difference a month makes…
Domestic HRC Prices Surpass Foreign Hot Band
US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.
Market Chatter This Week
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, the UAW strike, and what people were talking about in the market.
Final Thoughts
If you think prices will continue to rise, you might point to longer lead times and stable order entry.
SMU Price Ranges: Sheet Prices Up Again, But Outlooks Diverge
Sheet prices notched a third consecutive week of gains on limited supply and stable demand outside of automotive operations impacted by the UAW strike.
Service Center Shipments and Inventories Report for September
US service center flat-rolled steel inventories declined for a second month as shipping rates picked up in September.
SMU Steel Demand Index Inches Up Again But Still in Contraction
Steel Market Update’s Steel Demand Index remains in contraction territory despite repeated improvements since mid-September, according to our latest survey data.
Final Thoughts
SMU’s latest survey data are out, and they reflect a consensus among steel buyers that sheet prices have bottomed out and might rebound. Lead times continue to extend. Fewer sheet and plate mills are willing to negotiate lower spot prices. And 70% of survey respondents think prices have already bottomed out or will later this […]
SMU Market Survey Results Now Available
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at steelmarketupdate.com, visit the Pricing and Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” Historical survey results are also available under that selection. If you need help accessing the survey results, […]
Final Thoughts
The sheet market appears poised for a rebound if you’re looking at the indicators we typically track.
Foreign and Domestic HRC Prices Near Parity
US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.
SDI Slates Four-Day Outage at Indiana Sheet Mill
Steel Dynamics Inc. (SDI) plans to take a four-day outage at its sheet mill in Butler, Ind., according to sources familiar with the matter.
SMU Survey: Lead Times Extend Across the Board
This week’s survey showed steel mill lead times extending across all product lines tracked by SMU.
Final Thoughts
Sheet prices remain on an upward trend. Many of you expect that to remain the case - assuming that the UAW strike doesn’t drag on much longer.
SMU Price Ranges: Sheet Rises Again, HRC Firms Around $700/ton
Sheet prices moved upward for the second week in a row despite the ongoing UAW strike and concerns in some corners that momentum from a price hike last month might be fading, market participants said.
Final Thoughts
The US steel market appears to have gone from despairing over the possibility of spot HRC prices slipping into the $500s per ton to worrying about spot availability – and in just a matter of 2-3 weeks.