US hot-rolled coil (HRC) remains more expensive than offshore hot band but continues to move closer to parity as prices decline further. The premium domestic product had over imports for roughly five months now remains near parity as tags abroad and stateside inch down.
Earlier this week SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.
Sheet and plate prices mostly moved lower this week after little change was noted the week prior. Despite edging down, sentiment is mixed, and many suggest a bottom may be near.
Are we still looking for a bottom on sheet prices? In what direction are steel and scrap prices headed? How’s demand holding up at the moment?
Foreign cold-rolled coil (CR) remains significantly less expensive than domestic product even as US tags continue to decline in a hurry, according to SMU’s latest check of the market.
Steel Market Update’s Steel Demand Index recovered out of contraction territory on the heels of the pricing blitz from mills last week, according to our latest survey data.
The latest SMU market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Historical survey results are also available under that selection. If you need help accessing the survey results, or if […]
Strength in its flat-rolled steel operations is pushing Steel Dynamics Inc. (SDI) to guide to higher sequential earnings in the current quarter.
To the surprise of few if any, prices are in a holding pattern – a trend not seen since late December. The pause comes largely in response to a pricing notice blitz from mills late last week.
Steel buyers found mills more willing to negotiate spot pricing on the products SMU tracks with the exception of hot rolled, according to our most recent survey data.
US hot-rolled coil (HRC) remains more expensive than offshore hot band, even as domestic prices remain under pressure. The premium domestic product had over imports for roughly five months now remains near parity as tags abroad and stateside inch down.
The spread between hot-rolled coil (HRC) and prime scrap prices has narrowed for the third consecutive month in March, according to SMU’s most recent pricing data.
The ferrous scrap market experienced a sharp decline for March shipments. Prime scrap fell $60-70 per gross ton (gt) while shredded and other obsolete grades declined $40-50/gt. It seems these prices were accepted in the trade by dealers across the continent.
Sheet and plate prices were mostly flat this week – largely in response to the mill price blitz from last week – pausing the downtrend they’d been on for the better part of 2024.
US ferrous scrap prices fell steeply in March for HMS, shredded, and prime scrap, sources told SMU.
The premium plate prices have held over hot-rolled coil (HRC) are nowhere near recent highs seen in 2022 but remain higher compared to historical levels.
The US plate market has been largely quiet over the past week since Nucor’s $90-per-ton price cut at the close of February.
Nucor and Cleveland-Cliffs on Thursday announced target minimum base prices for hot-rolled (HR) coil. Both said the moves were effective immediately.
The price premium cold-rolled coil (CRC) carries over hot-rolled coil (HRC) remains wide, according to our latest market check. Based on our steel price indices published Tuesday, the spread between these products is at the fifth-highest weekly level seen over the last 16 months.
US hot-rolled coil (HRC) is now just about 5% more expensive than offshore hot band. The premium domestic product had over imports for roughly five months is all but gone, and nearing parity.
What are folks in the steel industry talking about at present? Respondents to SMU’s mini-survey this week shared some of their thoughts with us about what's going on in the market. Rather than summarizing their responses, here’s some of what they had to say in their own words.
Flat-rolled steel prices have been running downhill in a hurry since the beginning of the year. In some ways, it's no surprise because other indicators have also been pointing lower for some time. Lead times have been contracting since the beginning of the year and are now below the five-week mark for hot-rolled (HR) coil for the first time since September. Mills are more willing to negotiate lower prices, and early reports seem to indicate that scrap might settle lower again in March.
Sheet and plate prices this week continued the downward trend they’ve been on for most of 2024. Some market sources predicted that a wave of spring maintenance outages would help to stabilize lead times and prices in the weeks ahead – especially should service center inventories, high at the beginning of the year, come down meaningfully.
Steel prices continued to ease lower throughout February, following a loss of upwards momentum in the middle of January.
US manufacturing activity continued to slump in February, contracting for the 16 consecutive month, according to the latest report from the Institute for Supply Management.
The failure of the trade remedy actions against imported steel tin mill products (TMPs) continues to resonate. Cleveland-Cliffs and the United Steel Workers Union (USW) lost the case at the International Trade Commission (ITC) last month. A few days ago, the ITC released its final report explaining the decision against imposing antidumping and countervailing duties […]
SMU’s Current Steel Buyers’ Sentiment Index eased to an eight-week low, according to our most recent survey data.
The latest SMU market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Historical survey results are also available under that selection. If you need help accessing the survey results, […]
The premium US hot-rolled coil (HRC) held over offshore product for roughly five months has nearly vanished. Domestic hot band prices continue to run downhill at a high rate, erasing a $300/st gap they had over imported HRC just two months ago.
Steel buyers generally found mills more willing to negotiate spot pricing on the products SMU surveys this week, according to our most recent survey data.