Tag: Lead Times

Nucor priced its weekly hot-rolled (HR) coil consumer spot price (CSP) at $715 per short ton (st) this week, down $5/st from last week.

The conventional wisdom is that sheet prices will trend down for the next few weeks (maybe the next two months) before rising again in August – around when lead times stretch into the busier fall months. We see that reflected in our survey results and in market chatter. And there are plenty of data points to choose from if you want to support of that position.

Offshore cold-rolled (CR) coil prices have changed little, but they are still notably cheaper than domestic product. That remains the case even as US CR coil prices ticked lower this week.

We’ve been writing a lot about sheet prices, and those for hot-rolled (HR) in particular, coming down. Here's one thing that hasn't dropped: The wide spread between HR and cold-rolled (CR) prices. That's what's in a chart below. And I'm using it as a rough proxy for galv and G'lume base prices as well

SMU’s monthly at-a-glance articles summarize important steel market metrics for the prior month. This May report contains data updated through June 7. Steel prices for sheet and plate products continued to edge lower throughout May. The SMU Price Momentum Indicator was adjusted from neutral to lower at the beginning of the month. We saw a […]

US hot-rolled (HR) coil prices fell further this past week, bringing them even with offshore hot band prices on a landed basis.

Steel Market Update’s Steel Demand Index moved up 2.5 points last week, though it remains in contraction territory and at one of the lowest readings in nearly a year, according to our latest survey data.

On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

US sheet prices continued to tick down this week as supply seems to outweigh demand, and deep discounts are not only for large-ton buys.

Where do sheet prices go from here? How is the state of steel demand? And is the dip in prices we've seen just a case of the summer doldrums, or is it something more significant?

Offshore cold-rolled (CR) coil prices remain notably cheaper than domestic product. That remains the case even as US CR coil prices continue to tick lower.

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, or if your company would like to have your voice heard in our future surveys, contact info@steelmarketupdate.com.

It feels like the summer doldrums arrived a little earlier than usual this year. I know there had been rumors of a price hike. The prospect of a sharply lower June scrap trade probably didn't help the chances of that actually happening.

Movements in steel mill lead times were mixed this week, according to our latest steel buyers survey results. Service centers and manufacturers reported short to average production times, little changed from our last report.

US hot-rolled (HR) coil prices ticked down again this past week, nearly reaching parity with offshore hot band prices on a landed basis. This week, domestic HR coil tags were $730 per short ton (st) on average based on SMU’s latest check of the market on Tuesday, June 4. Domestic HR coil prices are now […]

Steel buyers found mills more willing to negotiate spot pricing this week on all products SMU tracks with the exception of Galvalume, according to our most recent survey data.

US sheet prices remained on a downward course again this week amid chatter in some corners about a potential broader slowdown in demand. SMU’s hot-rolled (HR) coil price now stands at $730 per short ton (st) on average, down $20/st from last week and down $115/st from a recent high of $845/st in early April. […]

There seems to be more question than usual about which way prices will go over the next few weeks. There is talk in some corners that Nucor’s announced $760 per short ton (st) for HR through mid-May, and subsequent increases marked a public attempt to call a price bottom. (Our price announcement calendar here is […]

Offshore cold-rolled (CR) coil prices remain significantly cheaper than domestic product. That remains the cause even as US CR coil prices continued to tick lower. All told, US CR prices are now 17.6% more expensive than imports. While still high, that premium is down from 19.4% last week and down from 31.5% in early January.

Steel sheet prices across most regions of the world were little changed this week. European buyers remain cautious regarding their outlook towards end-use demand and largely remained out of the market. A similar trend was seen across Asia, although skepticism on real estate stimulus measures in China led to w/w price falls. In the US, […]

Week over week, the futures curve saw minimal change.

US hot-rolled (HR) coil prices ticked down further this past week, moving closer to parity with offshore hot band prices on a landed basis. This week, domestic HR coil tags were $750/st on average based on SMU’s latest check of the market on Tuesday, May 28.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.

Sheet prices slipped again this week on a combination of moderate demand, increased imports, and higher import volumes.

Let's take a collective deep breath ::in:: and ::out::... And we're back. But where exactly are we? Are steel prices going up or down? Is demand really decelerating or is it an illusion? How is the market navigating the new mill pricing mechanisms?

Nucor moved its published consumer spot price (CSP) up again this week.

Nucor’s Consumer Spot Price (CSP), a legitimate mill offer price, is a potential disruptor to North American steel sheet commercial and procurement strategies. We will dive into the details of what we think the CSP is and why we believe it is a potential disruption to how the North American sheet market operates.

Steel Market Update’s Steel Demand Index fell five points to a 12-month low and moving further into contraction territory, according to our latest survey data.

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, or if […]

Here’s something I didn’t expect to see this week: SMU’s Current Buyers’ Sentiment Index dropped to its lowest point since August 2020.