U.S. Steel has increased sheet prices by $50 per short ton (st), according to market participants. The Pittsburgh-based steelmaker has also set a new target price of $800/st for hot-rolled (HR) coil, they said.
Despite the gain, the index remains below both the levels of November 2024 and the 2024 average.
Repeated mill price hikes this week may have stopped the bleeding and could signal a rebound.
Prices for the seven steelmaking raw materials SMU tracks moved in differing directions from December to January, according to our latest analysis.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.
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 […]
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 […]
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $760 per short ton (st) on Monday, Jan. 21. The $10/st week-on-week (w/w) rise marks the first increase in the CSP since Nov. 12. According to SMU’s mill price announcement calendar, the Charlotte, N.C.-based steelmaker held the weekly price at $750/st for 11 […]
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.
Nucor’s consumer spot price (CSP) for hot-rolled (HR) coil remains unchanged for another week – now on an 11-week streak. Nucor’s HR coil CSP, still at $750 per short ton (st), has been at that level since Nov. 12. The spot price for HR from Nucor’s joint-venture subsidiary California Steel Industries (CSI) is also flat […]
Many people have shaken off the post-holiday blues. But for primary aluminum operators, “power blues” are enduring.
The price premium of galvanized coil over hot-rolled (HR) coil has continued to narrow, a downward trend seen for the past seven months. As of this week, the spread between these two products has reached an 18-month low.
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.
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 […]
Both SMU Steel Buyers' Sentiment Indices remain in positive territory, indicating that steel buyers are optimistic about the success of their businesses.
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.
Steel prices didn't start the new year with a bang - but they didn't bust, either, according to SMU's first survey of 2025. On the sheet side, market participants generally predicted that prices should move higher this year on the coated trade petition and the potential for tariffs under President-elect Trump. But most buyer sources weren’t eager to load up given the uncertain timing and scope of the potential tariffs. They also cited increasing domestic capacity and modest demand.
Nucor said on Monday, Dec. 30, that it was keeping its spot base price for hot-rolled sheet this week at $750 per short ton (st).
And just like that, we’re wrapping up the last SMU newsletter of 2024. We’re closing out our 19th year and looking with wide-eyed anticipation to what 2025 will bring.
Steel buyers of sheet and plate products say mills are still willing to bend on spot pricing this week, though not quite as much as they were two weeks prior, according to our most recent survey data.
We have seen very little change in sheet and plate prices across the past month.
Cleveland-Cliffs plans to increase prices for hot-rolled (HR) coil to $800 per short ton (st). Cliffs said the increase announcement coincides with the opening of its February order book for both contract and spot tons of HR.
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.
Steel prices have remained relatively stable in recent weeks, though they have generally trended downward since October.
This week, the spread between SMU's hot rolled and galvanized indices is only a few dollars away from a 16-month low.
Steel sheet prices remain at or near multi-month lows, while plate prices continue edging lower from their mid-2022 peak.
SMU’s Monthly Review provides a summary of important steel market metrics for the previous month. Our latest report includes data updated through November 30th.
Cleveland-Cliffs has officially had spot HRC prices at $750/st since mid-September.