Tag: pricing

SMU’s flat-rolled steel prices were mixed this week with slight declines across most products and a modest increase in prices for cold-rolled coil.

Prices for sheet and plate products were mixed this week. While market participants have noted a post-election uptick in activity, most said that it was (so far) nothing to write home about.

Another presidential election cycle has come to an end. If you’re anything like me, part of you is just happy you no longer need to unsubscribe or “text STOP to opt-out” from the onslaught of political text messages this cycle produced.  

Most steel buyers polled in our market poll this week continue to report mills are open to negotiation on new order pricing.  In fact, negotiation rates have been strong for the majority of 2024, trending higher since September.

SMU price indices edged lower this week for all products but one, marking the fifth consecutive week of overall declining prices.

The premium galvanized-coil prices carry over hot-rolled (HR) coil continues to decline following the uptick seen earlier this year.

SMU price indices declined again this week for all products other than hot-rolled sheet. Our indices have trended lower across October, falling as much as $75 per short ton (st) in that time.

More than nine out of every 10 steel buyers polled by SMU this week reported that mills are flexible on prices for new orders. Negotiation rates have been strong since April and on the rise since early September.

Steel prices ticked lower again this week for most of the products SMU tracks. Our indices have declined as much as $40 per short ton (st) across the last four weeks.

Steel sheet prices mostly edged lower for a second week, while plate prices slipped for the third consecutive week.

Steel prices ticked higher this week for most of the sheet products SMU tracks, back up to highs last recorded in June and July. Meanwhile, plate prices edged lower following three weeks of stability.

Over three quarters of the steel buyers participating in our market survey this week reported that mills are negotiable on new order prices

Steel Market Update will be taking time off in observance of Labor Day. We will not publish an issue on Sunday, Sept. 1, and our offices will be closed on Monday, Sept. 2. Our weekly pricing service will not be impacted. We will resume our regular publication schedule and our pricing service on Tuesday, Sept. […]

Three out of four of our market survey respondents report that steel mills are open to negotiating new order prices this week, a slight decline compared to our previous market check.

SMU’s sheet prices increased across the board this week, marking the third consecutive week of rising prices, while plate prices held stable.

Another month for hot-rolled (HR) coil, and another disappointing one for the bulls. They are still holding onto hope that the bottom is here and still pointing to an imminent uptick in HR prices.

SMU’s sheet prices rose by an average of $10 per short ton (st) this week on most products, the second consecutive week of recovering prices. Aside from the marginal uptick seen last week, this is the first instance of increasing sheet prices since the first week of April.

Steel buyers of sheet products say mills are still flexible on spot pricing this week, though less so than two weeks prior, according to our most recent survey data.

What a difference a week makes! SMU has shifted its sheet momentum indicators from “lower” to “neutral”. And we’ll be on the lookout for evidence of higher prices in the weeks ahead.

SMU’s sheet price was largely flat this week, an unusual sight for the better part of the past four months. The same trend was seen for tandem products and plate as well.

Nucor has raised its consumer spot price (CSP) for hot-rolled (HR) coil to $675 per short ton (st), up $25/st from last week.

Nearly 1,200 people have registered for SMU Steel Summit, which is less than a month away now. That means we’re still on pace to meet or exceed last year’s record attendance despite a tough flat-rolled steel market over the last few months. So, a big thank you to everyone who already plans to go for your continued support. If you haven’t booked travel yet, don’t miss out on one of the greatest shows in steel – register here. (You can also check out the latest agenda here.)

GrafTech cited a “challenging” part of the business cycle as its net loss widened in the second quarter.

Cleveland-Cliffs announced on Friday that it would seek $670 per short ton (st) for hot-rolled (HR) coil. The steelmaker said the move was effectively immediately. It coincides with the opening of the company’s HR order book for September.

SMU has heard from some larger buyers who have stepped back into the market to buy at prices that, if not at a bottom, they assess to be close to one. Is it enough to stretch out lead times and send prices upward again? Or do we continue to scrape along the mid-$600s per short ton (st) as we have been doing for most of the last month?

Reliance Inc. said a faster-than-expected decline in carbon steel prices offset higher shipments in the second quarter.

Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.

Galvanized prices have fallen precipitously from a month ago, though many market participants think a bottom is in sight.

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.

Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves had some insightful things to say today about the steel market and about a conference we suspect might be Steel Summit.