I want to thank the Heating, Air-conditioning & Refrigeration Distributors International (HARDI) for the opportunity to speak at their annual conference in Phoenix. I enjoyed the proceedings and participating in a panel for HARDI’s sheet metal/air handling council. I can’t recap all that we discussed in a few hundred words. But I’d like to share […]
Sheet prices shot higher again this week on the heels of another round of mill price increases as well as on reports of production and supply chain issues at certain domestic producers.
Steel prices continued to rally last month on the back of repeated mill price increases after tags reached a 2023 low of $645 per ton in late September. Hot-rolled coil (HRC) prices ended November at an average of $923 per ton ($46.15 per cwt), rising by $140 per ton during the month. The SMU Price […]
Activity in the US manufacturing sector contracted once again in November.
A coalition of manufacturers, retailers, and stakeholders stands opposed to the imposition of import duties on tin mill products.
It’s no surprise why spot prices are on the rise: Mills have been announcing higher flat-rolled tags for the better part of the past three months, according to our steel mill price increase calendar. A leading cause of the $305-per-ton rally since prices reached a recent bottom of $645 per ton in late September has […]
CRU analysts share an update on the aluminm markets.
The export market for ferrous scrap has been strengthening over the last month by a sizable margin.
Oct. 26 was my previous Steel Market Update contribution. The night before, Ford and the United Auto Workers (UAW) announced they had reached a tentative agreement for a new labor contract.
Algoma Steel’s CEO Michael Garcia joined SMU Managing Editor Michael Cowden for a Community Chat on Wednesday, Nov. 29. A great discussion was had on topics ranging from plate pricing to decarbonization efforts, raw materials strategies, and more.
US Hot-rolled coil (HRC) prices continue to move higher following repeated mill increases. The trend has caused domestic tags to become far more expensive than imported offshore hot band.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, and what people were talking about in the market.
US scrap prices are expected to rise in December, industry sources told SMU.
Nucor Corp. announced in a letter to customers on Tuesday afternoon that its plate mill group would increase as-rolled discrete plate, normalized, and quenched-and-tempered plate by $40 per ton ($2 per cwt).
I want to address a few things in this 'Final thoughts': the latest SMU survey results, the plate market, and the potential sale of U.S. Steel.
SSAB Americas has announced plans to increase plate prices by at least $60 per ton ($3 per cwt), with the opening of its January 2024 order book. The price hike applies equally to as-rolled, normalized, quenched-and-tempered, and wide cut-to-length plate products. It is effective immediately on all new, non-contract orders, the company said in a […]
SMU’s Current and Future Steel Buyers Sentiment Indices have both increased, based on our most recent survey data as of Wednesday, Nov. 22.
Sheet prices continued to move higher this week on the heels of mill price hikes and extending lead times.
The increase in steel imports from September to October was higher than license applications had suggested earlier this month.
The percentage of steel buyers saying mills were willing to negotiate spot pricing has fallen for all products SMU surveys, according to our most recent survey data.
Nucor aims to increase base prices on all new sheet orders, effective immediately. The Charlotte, N.C.-based steelmaker seeks at least $1,100 per ton ($55 per cwt) for hot-rolled coil (HRC), according to a Monday letter to customers.
Flat-rolled steel prices were in a holding pattern ahead of Thanksgiving.
Galvanized steel buyers reported a seller's market with steady demand, long lead times, and strong pricing on this month’s call of the Sheet Metal/Air Handling Council of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association.
Prices of steelmaking raw materials are largely up over the over the last 30 days, as they were the month prior, according to Steel Market Update’s latest analysis.
Turkish scrap import prices increased for a third consecutive week.
There has been almost an assumption that US mills would get the $950-1,000 per ton ($47.50-50 per cwt) they were seeking on HR base and $1,150-2,000 per ton ($57.50-60 per cwt) for cold-rolled and coated base. Recall that Cliffs initially announced an increase and said it was seeking $1,000 per minimum for hot-rolled coil. Nucor […]
The spread between hot-rolled coil (HRC) and galvanized sheet base prices has been hovering near $200 per net ton since late July, according to SMU’s latest analysis.
Surging US sheet prices and expanding lead times are making imports more attractive. The automotive workers’ strike is essentially over, and domestic US sheet prices have rocketed higher alongside lead times. There is little to suggest that the momentum of these price increases will slow over the next month or two, and thus imports have […]
The importation of basic pig iron has allowed EAF steelmakers to implement thin-slab casting technology to make drawing-quality flat-rolled sheet over the last 30 years.
The US plate market has been rather quiet over the past couple of weeks since Nucor Corp. caught many off guard with a $140-per-ton price cut.