This week could be a big one for steel, or at least for the steel rumor mill. For starters, there is renewed speculation that an announcement about the U.S. Steel sales process could be in the works. The rumor mill is also churning fast when it comes to the duration of the UAW strike and […]
As the ferrous scrap market in the US enters the home stretch for 2023, it faces an array of issues and uncertainties.
Well, what a difference a month makes…
U.S. Steel on Thursday said it planned to increase spot base prices for steel sheet by at least $100 per ton ($5 per cwt).
US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.
Cleveland-Cliffs said on Thursday it's targeting a minimum base price for hot-rolled steel of $800 per net ton ($40 per cwt).
Nucor Corp. aims to raise base prices for hot-rolled coil to a minimum of of $800 per ton ($40 per cwt).
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, the UAW strike, and what people were talking about in the market.
If you think prices will continue to rise, you might point to longer lead times and stable order entry.
Sheet prices notched a third consecutive week of gains on limited supply and stable demand outside of automotive operations impacted by the UAW strike.
Manufacturing activity decreased in New York in October, according to the most recent Empire State Manufacturing survey. The headline general business index fell to -4.6 in October from 6.5 points in September. The new orders index dipped nine points month over month to -4.2, while the shipments index dropped 11 points to 1.4. Twenty-four percent […]
US service center flat-rolled steel inventories declined for a second month as shipping rates picked up in September.
Steel Market Update’s Steel Demand Index remains in contraction territory despite repeated improvements since mid-September, according to our latest survey data.
Prices for ore-based metallics were mixed month-on-month (MoM) as lower finished steel production weighs on pig iron demand.
The spread between hot-rolled coil (HRC) and prime scrap prices widened slightly this month, according to SMU’s most recent pricing data.
SMU's Current Steel Buyers Sentiment Index edged down this week while the future index remained flat, based on our most recent survey data.
The sheet market appears poised for a rebound if you’re looking at the indicators we typically track.
With solid demand and attractive margins, the North American market has been helping to prop up CMC’s results as its European operations struggle with weaker demand amid challenging market conditions.
The mill negotiation rate for all products SMU looks at fell this week, with hot rolled dropping 13 percentage points, according to our most recent survey data.
US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.
If the last few years have taught us anything, it is that nothing is certain.
Sheet prices remain on an upward trend. Many of you expect that to remain the case - assuming that the UAW strike doesn’t drag on much longer.
Sheet prices moved upward for the second week in a row despite the ongoing UAW strike and concerns in some corners that momentum from a price hike last month might be fading, market participants said.
The US and European Union will continue trade talks on Friday, Oct. 20, according to a statement from the European Council.
A service center executive recently told me that the best way to make a fool of yourself was to try to predict what flat-rolled steel prices were going to do. He hadn’t expected that hot-rolled coil prices would rebound from less than $600 per ton ($30 per cwt) for some larger buyers to potentially more […]
The LME aluminum three-month price was broadly unchanged on Friday morning, Oct. 6, and was last seen trading at $2,243 per ton. Due to the Mid-Autumn Festival and National Day celebrations, the SHFE is closed for holidays from Sept. 29 to Oct. 6. According to a report from Bloomberg, leaders from the EU and the […]
A large Detroit-area scrap buyer has settled scrap tags for October, with busheling scrap sideways, a source told SMU.
The US steel market appears to have gone from despairing over the possibility of spot HRC prices slipping into the $500s per ton to worrying about spot availability – and in just a matter of 2-3 weeks.
What has happened since the August hot rolled (HR) settlement ($767 per short ton)?
US hot-rolled coil (HRC) and offshore product are nearing parity again after domestic prices moved higher this week and imports declined again.