Steel Market Update is pleased to announce that Timna Tanners, metals and mining analyst at Bank of America, will be the featured speaker for our next Community Chat webinar on Wednesday, June 9, at 11 a.m. ET. Tanners will speak about the steel industry of the future. That future is likely to include an increased […]
Steel Market Update is pleased to announce that Timna Tanners, metals and mining analyst at Bank of America, will be the featured speaker for our next Community Chat webinar on Wednesday, June 9, at 11 a.m. ET. Tanners will speak about the steel industry of the future. That future is likely to include an increased […]
It has been a busy day trying to condense two days of data collection into one as we produce our flat rolled and plate indices for this evening. It should come as no surprise our numbers did track higher this week, and our Price Momentum Indicator continues to point toward higher prices over the next […]
Preliminary Census data shows that total foreign steel imports rose 14% from March to April, up to 2.64 million tons, as U.S. buyers sought relief from climbing domestic prices and limited supplies. This is the highest total monthly import level seen since July 2020 when imports were 2.71 million tons. Import licenses currently for May are at 2.52 million tons, down 4% from […]
A reminder to our readers – Steel Market Update will not publish a Sunday evening issue due to this weekend being a national holiday here in the United States (Memorial Day). We will publish as normal on Tuesday, June 1. Inventories are a key component when it comes to understanding the squeeze we have with […]
Except for a notable decline in the average Galvalume lead time, delivery times for spot orders of flat rolled and plate from the mills registered only small ups and downs in the data from Steel Market Update’s survey this week. Generally speaking, lead times remain two to three times longer than the historical averages and […]
Hot-rolled coil prices continue their unrelenting march upward. Steel Market Update’s benchmark hot-rolled coil price now stands at $1,590 per ton ($79.50/cwt), up $20 per ton from a week ago and up $180 per ton versus last month. Lead times remain extended at eight to 12 weeks. And SMU’s Price Momentum Indicator continues to point […]
Steel Market Update spot prices on flat rolled moved higher today and our Price Momentum Indicator continues to point toward higher prices on hot rolled, cold rolled, galvanized, Galvalume and plate steel over the next 30 days. However, having said that, we spent a good portion of today in conversation with steel buyers around the […]
Reibus, the online metals marketplace, now offers long products as well as flat rolled, sheet and plate products. Reibus (www.reibus.com) is an independent SaaS-enabled marketplace that utilizes technology to match buyers and sellers and to solve ingrained supply chain problems in the industrial material market. “With momentum building and partnerships forming throughout the metals industry, […]
Privately held Canadian steelmaker Algoma Steel has agreed to be taken over and taken public in a deal valued at as much as $1.7 billion, the company said. Proceeds from the initial public offering (IPO) might result in the Sault Ste. Marie, Ontario-based company becoming the latest producer to switch from integrated to electric arc […]
Steel Market Update is pleased to announce that one of the top woman steel mill executives in North America will mentor the 2021 SMU NexGen Leadership Award recipient. Barbara Smith is Chairman, President and Chief Executive Officer of Commercial Metals Company. Barbara joined CMC in June 2011 as Senior Vice President and Chief Financial Officer. […]
Steel Market Update is pleased to announce that one of the top woman steel mill executives in North America will mentor the 2021 SMU NexGen Leadership Award recipient. Barbara Smith is Chairman, President and Chief Executive Officer of Commercial Metals Company. Barbara joined CMC in June 2011 as Senior Vice President and Chief Financial Officer. […]
Don’t forget to tune into SMU’s next Community Chat webinar on Wednesday, June 23, at 11 a.m. ET with SSAB Americas President Charles Schmitt. SSAB, a Nordic steel company with employees in over 50 countries, claims to be the largest producer and supplier of heavy plate in North America, with a market share of approximately 33% in […]
Don’t forget to tune into SMU’s next Community Chat webinar on Wednesday, June 23, at 11 a.m. ET with SSAB Americas President Charles Schmitt. SSAB, a Nordic steel company with employees in over 50 countries, claims to be the largest producer and supplier of heavy plate in North America, with a market share of approximately 33% in […]
Don’t forget to tune into SMU’s next Community Chat webinar on Wednesday, June 23, at 11 a.m. ET with SSAB Americas President Charles Schmitt. SSAB, a Nordic steel company with employees in over 50 countries, claims to be the largest producer and supplier of heavy plate in North America, with a market share of approximately 33% in […]
Indian steelmaker JSW Steel Ltd. suffered losses of nearly $31 million at its U.S. operations in its fiscal fourth quarter as its mills worked to return to production following pandemic-related shutdowns. JSW Steel USA idled its Mingo Junction, Ohio, and Baytown, Texas, mills in 2020 in response to poor demand resulting from the COVID-19 outbreak. The […]
SSAB Americas and Evraz North America have followed Nucor in increasing plate prices by at least $100-150 per ton ($5-7.50/cwt). Both steelmakers said their price hikes were effective immediately in letters to customers dated Thursday, May 20. SSAB said the $100-per-ton increase applied to as-rolled mill plate and coil as well as to cut-to-length plate more […]
SSAB Americas and Evraz North America have followed Nucor in increasing plate prices by at least $100-150 per ton ($5-7.50/cwt). Both steelmakers said their price hikes were effective immediately in letters to customers dated Thursday, May 20. SSAB said the $100-per-ton increase applied to as-rolled mill plate and coil as well as to cut-to-length plate more […]
Steel Market Update surveys readers each week to monitor market sentiment. The prevailing view on key issues this week: record high steel prices still have room to run; the high prices have not cut into demand yet; repealing Section 232 on imports from the EU is a questionable move; and inflation poses a threat to […]
Steel Market Update surveys readers each week to monitor market sentiment. The prevailing view on key issues this week: record high steel prices still have room to run; the high prices have not cut into demand yet; repealing Section 232 on imports from the EU is a questionable move; and inflation poses a threat to […]
Nucor has in a leading move increased plate prices by $100-150 per ton ($5-7.5/cwt) along with the opening of its July order book. Nucor’s new ex-works base price for cut-to-length A36 plate is $1,320 per ton ($66/cwt), up from $1,120 per ton last month, according to letters to customers. The steelmaker’s new base prices for […]
Flat Rolled = 41.8 Shipping Days of Supply Plate = 42.8 Shipping Days of Supply Flat Rolled U.S. service center flat rolled inventories remain low, though steel mills are starting to catch up on delayed orders. Service centers carried 41.8 shipping days of supply at the end of April, flat compared to March’s adjusted inventory […]
Honest answer: I don’t know… One of the questions asked in last week’s flat rolled and plate steel market trends analysis has been repeated many times over the past five months. The phrasing of the question changes as steel prices continue to rise and surprise those taking our steel market survey. We asked last week, […]
Mill shipments of steel products improved by 18.3% in March compared to the month prior, while apparent supply increased by 18.1% during the same period. The double-digit gains are even more impressive considering their low performance in February, the first decline in both apparent supply and shipments of steel since the market reached bottom back in […]
This report examines the import share of sheet and plate products. Imports’ share of total sheet product shipments was 12.7% in March, down from 14.0% in February. The decrease corresponds to a simultaneous increase in domestic shipments and a rise in imports; however, the surge in domestic shipments at 17.4% month on month outpaced the […]
The flat rolled steel market was a little tougher to read this week. Steel Market Update’s survey of the market over the past two days clearly shows a further increase in hot rolled prices, with buyers reporting offers as high as $1,600 per ton. SMU puts the average HR price at $1,540 this week as […]
Hot rolled steel prices have been on the rise for 40 weeks in a row now, reaching a new pinnacle of $1,570 per ton—at least until next week when they likely set another new record. Steel Market Update’s Price Momentum Indicator continues to point toward higher prices over the next 30 days. SMU’s check of […]
“It’s a miserable boat, but at least we are all in this together.” Large manufacturing company A new hole in the boat today…NLMK USA lost their Farrell, Pa., hot strip mill for one to two weeks. Price becomes irrelevant when your customers need product and there is nowhere else to go. That is what one […]
“It’s a miserable boat, but at least we are all in this together.” Large manufacturing company A new hole in the boat today…NLMK USA lost their Farrell, Pa., hot strip mill for one to two weeks. Price becomes irrelevant when your customers need product and there is nowhere else to go. That is what one […]
U.S. steel exports jumped 17% in March to 790,000 tons, according to recently released U.S. Department of Commerce trade data, now at the highest monthy level seen since June 2018. Of our six monitored product groups, the greatest month-over-month increase in exports went to plate cut lengths, up 37%, followed by a 35% increase in […]