SSAB has increased plate prices by a total of $240/st in less than a month. That tally results from the current increase, an increase of $80/st in early February, and another of $60/st in late January, according to SMU’s price announcement calendar.
Mills’ flexibility on price for spot orders has taken a nosedive to levels not seen since the end of March 2023.
Flat rolled = 66 shipping days of supply Plate = 54.3 shipping days of supply Flat rolled US service center flat-rolled steel supply declined in January month on month (m/m) but is up about 10% year on year (y/y), according to SMU data. At the end of January, US service centers carried 66 shipping days […]
The latest in the new coated steel investigation and the expiry review of steel plate from six countries.
Each of the steel product prices tracked by SMU saw significant increases this week. All four of our sheet price indices rose by $30-50 per short ton (st) on average. Plate prices popped $60/st compared to the week prior.
Following the one-year low recorded in November, steel imports rose by 3% in December to 2.14 million short tons (st) according to final US Commerce Department data. January could be the highest month for steel imports witnessed in nearly three years.
Evraz, SSAB Americas, and Nucor have all followed up on their initial price bumps at the opening of their March order books with a second round of increases.
While we have seen some movements in recent weeks, steel mill production times remain within a few days of the historical lows observed over the last two years, a trend observed since mid-2024.
Steel mill negotiation rates have declined in each of our last two surveys; this week’s rate is the lowest recorded since March 2024.
SSAB Americas has again followed Nucor’s lead, raising plate prices by $80 per short ton (st). The increase is effective immediately for all new non-contract orders, as the steelmaker stated in a letter to customers on Wednesday, Feb. 5. “SSAB Americas reserves the right to re-quote any open offers not confirmed by an SSAB order […]
SMU’s steel price indices rose across the board this week. Sheet prices increased as much as $35 per short ton (st) compared to last week, while our average plate price ticked up by$10/st.
Nucor Corp. announced that its plate mill group was raising prices for as-rolled, discrete, cut-to-length, and normalized plate “in response to current market conditions.” The Charlotte, N.C.-based steelmaker said in a letter to customers on Tuesday, Feb. 4, after market close, that it would be seeking an increase of $40 per short ton (st). Nucor […]
SMU’s Monthly Review provides a summary of important steel market metrics for the previous month. Our latest report includes data updated through January 31st.
Repeated mill price hikes this week may have stopped the bleeding and could signal a rebound.
JSW Steel USA’s operations took earnings hits in the quarter ended Dec. 31. And Indian parent company JSW Steel believes potential tariff hikes by the Trump administration could hamper declining inflation in the US. JSW Steel USA operates the Mingo Junction slab and hot-rolled sheet mill in Ohio and the Baytown plate and pipe and […]
But the Swedish steelmaker is optimistic about a rebound
SMU’s sheet prices were mixed this week. Hot-rolled (HR) coil and plate notched gains while prices for coated products stagnated or dipped lower. Our HR price now stands at $700 per short ton (st) on average, up $15/st from last week and marking the highest level for HR prices since $705/st in early October. SMU’s […]
“More needs to be done to ensure that these illegally dumped and subsidized imports do not continue to distort the American market in a road profitability," Nucor's CEO said.
Two US plate mills – SSAB Americas and Evraz North America (NA) – have followed Nucor so far in raising plate prices, with the opening of their March order books. The increases are effective immediately for all new orders, both mills said in letters to customers. Evraz NA said it was increasing transactions by at […]
Nucor Corp. announced that its plate mill group was raising prices for as-rolled, discrete, cut-to-length, and normalized plate with the opening of its March order book. The Charlotte, N.C.-based steelmaker said in a letter to customers on Monday morning, Jan. 27, that it would be seeking an increase of $60 per short ton (st). Nucor […]
Steel mill lead times were mixed across the sheet and plate products SMU tracks, according to buyers responding to our latest market survey.
The majority of steel buyers we canvassed this week continue to report that mills are willing to negotiate prices on new spot orders, though not as much as they were in early-January.
Sheet and plate prices remained in a holding pattern this week as the market awaited more specifics on potential Trump administration tariffs.
Flat rolled = 77.1 shipping days of supply Plate = 58.1 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers ballooned in December with higher inventories as well as seasonally lower shipments. At the end of December, service centers carried 77.1 shipping days of flat-rolled steel supply on an adjusted basis, […]
Steel prices ticked lower this week for four of the five products SMU tracks, according to our latest canvass of the sheet and plate markets. Following last week’s bump, our hot rolled, cold rolled, galvanized, and plate indices all edged lower this week by $5-15 per short ton (st) on average. Galvalume was the only […]
The amount of steel exiting the country continued to decline through November, falling to an 11-month low, according to the latest US Department of Commerce data. This is the third month in a row that steel exports have eased and the second-lowest monthly rate recorded in almost two years.
Domestic steel imports fell 14% from October to November to a one-year low of 2.07 million short tons (st), according to final US Commerce Department data. While steel trade has declined from early-2024 highs, November imports are slightly higher than volumes seen one year prior.
Buyers participating in our first market survey of 2025 reported a slight decline in mill lead times compared to our last survey in mid-December. After rising moderately in early December, lead times edged lower through this week and are now only slightly above the lows seen back in July and November. Overall, production times have remained historically short since last summer, with minimal movement since then.
Steel buyers say mills remain open to negotiation on sheet and plate spot prices this week, slightly more so than in mid-December, according to our most recent survey results.
The announcement comes a little more than a year after Borusan acquired Panama City, Fla.-based Berg Pipe for $162 million.