Nucor has increased plate prices by $40 per ton ($2 per cwt) with the opening of its January order book. The price hike – announced on Monday, Nov. 29 and effective immediately – is equal across all plate products. The Charlotte, N.C.-based steelmaker’s price increase is also notable because it is $10 per ton less than the […]
By CRU Principal Analyst Matthew Watkins and Analyst Iris Speelmanns, part of CRU’s steel and the energy transition series When we think about hydrogen and steel, we generally focus on steel supply. Hydrogen is a possible alternate reductant, replacing coke and offering a pathway to low-CO2 steel production. But a hydrogen economy could also be a huge […]
Flat rolled and plate steels all saw double-digit decreases this week as the price trend appears be gaining downward momentum The average price for hot rolled dropped by $50 to $1,780 per ton, the first time that benchmark has been below $1,800 since early July. Prices for cold rolled and coated products saw declines of […]
Steel buyers have gained a clear advantage when it comes to negotiating lower prices for hot-rolled coil and galvanized product. The change in pricing power toward buyers – following a year in which mills could name their price – comes as prices for most products are down, lead times are coming in, and inventories are increasing. SMU […]
Don’t forget to tune into our next Community Chat with Jefferson Shaw, vice president of strategy for Evraz North America. The free webinar will be on Wednesday, Dec. 1, at 11 a.m. ET (10 a.m. CT). Click here to register. We’ll talk about Evraz NA’s plans to run its steel mill in Pueblo, Colo., on […]
Don’t forget to tune into our next Community Chat with Jefferson Shaw, vice president of strategy for Evraz North America. The free webinar will be on Wednesday, Dec. 1, at 11 a.m. ET (10 a.m. CT). Click here to register. We’ll talk about Evraz NA’s plans to run its steel mill in Pueblo, Colo., on […]
Algoma Steel Inc. has increased plate prices for U.S. customers by at least $50 per ton ($2.50 per cwt). The move is effective immediately for new spot orders. The increase is $60 per ton CAD for customers in Canada. The Sault Ste. Marie, Ontario-based flat rolled steelmaker said the price hike applied equally to as-rolled […]
Nucor has decreased steel pipe and tube prices by $100 per ton ($5 per hundredweight) effective immediately. The Charlotte, N.C.-based steelmaker said the drop applied equally to all new orders of hollow structural sections (HSS), pipe, mechanical tubing, and piling products. “This decrease is a result of normalized raw material costs and reduced transportation volatility,” […]
SSAB Americas, in a leading move, has increased plate prices by $50 per ton ($2.50 per hundredweight). The price hike is effective immediately for all new spot orders, the Mobile, Ala.-based steelmaker said in letters to customers on Monday, Nov. 22. The amount of the increase is $60 per ton CAD for customers in Canada. The […]
SMU is pleased to announce that our next Community Chat will feature Jefferson Shaw, vice president of strategy for Evraz North America. Mark your calendar for Wednesday, Dec. 1, at 11 a.m. ET (10 a.m. CT). And click here to register. It’s free. We’ll talk about Evraz NA’s plans to run its steel mill in […]
Sheet and plate prices are nearing parity for the first time in about a year, the latest sign of a market in flux. Below is a good way to visualize that trend. The chart below maps out the spread between sheet and plate going back to 2017. If we rewind to mid-November of last […]
Sheet and plate prices are nearing parity for the first time in about a year, the latest sign of a market in flux. Below is a good way to visualize that trend. The chart below maps out the spread between sheet and plate going back to 2017. If we rewind to mid-November of last […]
At the direction of the U.S. International Trade Commission, the U.S. Commerce Department will continue to investigate oil country tubular goods (OCTG) imports from Argentina, Mexico and Russia that are allegedly being subsidized and dumped in the U.S. at below fair value. In a Nov. 19 vote, the USITC ruled there is reasonable indication that […]
By CRU Senior Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service, Nov. 18 In the last several weeks, U.S. sheet prices have started to decline, though prices remain well above global prices. Under pressure from imports and service centers eager to sell high-cost inventory before the end of the year, prices for processed […]
Nucor Corp. will add a blast and prime line to its greenfield steel plate mill currently under construction in Brandenburg, Ky. The blast and prime line will have an annual capacity of approximately 120,000 tons and will provide the Nucor Plate Group with even broader capabilities and offerings for buyers of wider and thicker plate products. The Charlotte-based steelmaker […]
Steel Market Update’s poll of buyers on Monday and Tuesday showed further small declines for flat rolled steel prices, while plate prices were up a bit. No sign yet of a sharp correction as prices continue to ease downward. The benchmark price for hot rolled is now down to $1,830 per ton, $25 lower than […]
Steel Market Update is pleased to share the below excerpt of a Premium item with Executive members. SMU publishes service center shipment and inventory data for Premium subscribers on the 11th business day of each month, one day after our data providers receive the data. Premium member reports include expanded analysis with detailed shipment and inventory levels, […]
Flat Rolled = 56.7 Shipping Days of Supply Plate = 62.0 Shipping Days of Supply Flat Rolled U.S. service center flat rolled inventories increased in October, as shipments slowed, according to Steel Market Update data. At the end of October, service centers carried 56.7 shipping days of supply on an adjusted basis, compared to 54.5 […]
Imports of less-expensive sheet and plate products have been on the rise for the past five months as buyers continue to seek relief from record-high steel prices in the U.S. September Commerce Department data show imports’ share of the U.S. flat-products markets at their highest levels in the past 4-5 years. Imports’ share of total […]
Total mill shipments of steel products fell 12.2% in September to 8.502 million tons, after seeing an 11.1% increase the month prior. Apparent supply also slipped in September, down 6.9%, following a 7.9% increase in August. September’s contractions mark the first decrease in steel supply in seven months. This analysis is based on steel mill shipment […]
Earnings season is (mostly) done and dusted, so I’d like to turn your attention to another season: M&A announcement season. Bankers like to get deals done before Christmas. And I think there is a decent chance that any deals in the pipeline now are announced in the next month or so. Also, while spot prices […]
By Greg Wittbecker, Advisor, CRU Group Quotas in exchange for exemption, a bad precedent for other countries There has been much written about the new détente between the EU27 and the USA in the aftermath of the deal to suspend duties on European steel and aluminum. There are also reports that something may also be […]
Algoma Steel posted record profits in its fiscal second quarter, and the Canadian flat-rolled steelmaker expects money to continue to pour in as high spot prices roll into 2022 contracts. The Sault Ste Marie, Ontario-based company also thinks that the traditional relationship between sheet and plate prices will be restored as infrastructure spending increases demand for […]
The board of Canadian flat-rolled steelmaker Algoma has approved the construction of two new electric arc furnaces (EAFs) with combined steelmaking capacity of 3.7 million tons per year. The new EAFs are expected to come online in 2024 and to replace the Sault Ste. Marie, Ontario-based company’s blast furnaces and basic oxygen furnaces. “We believe […]
Steel Market Update’s price range for plate products raised a few eyebrows this week. Allow me to point out a few facts about SMU pricing data. SMU provides a weekly range as reference points for you to review. The reference points come from steel buyers and from steel mills. However, we place the most emphasis on […]
Buyers continue to gain leverage in steel price negotiations, especially for hot rolled products. Steel Market Update asks buyers every two weeks whether mills are willing to talk price on spot orders. Nearly three out of four (72%) of the hot rolled buyers responding to this week’s poll said mills are now willing to negotiate HR […]
Lead times for orders of flat rolled and plate steel continue to shorten, as expected in a period when steel prices are declining. SMU’s latest check of the market shows the typical hot rolled lead time has now dipped below seven weeks for the first time since November 2020. That’s nearly a month shorter than […]
U.S. steel exports decreased 4% from August to September to 732,000 tons, according to the latest U.S. Department of Commerce data. September marks the lowest monthly export level seen in six months. Recall that in March and June of this year, we saw the two highest monthly export levels in the last three years (790,000 and 778,000 […]
Steel Market Update’s check of the market this week shows both flat rolled and plate prices declining by another $10-25 per ton. The declines were not unexpected and are in line with the downtrend that has materialized in the last two months as seasonal dips in demand and competition from imports put pressure on domestic […]
Owen Industries, a service center, processor and fabricator of steel sheet and plate based in Carter Lake, Iowa, has acquired the assets of Omaha Steel, a steel foundry in Wahoo, Neb. The acquisition includes a newly built foundry facility that gives Owen Industries the opportunity to expand its offerings into the design and production of […]