US Hot-rolled coil (HRC) prices keep rising on the heels of continued mill hikes, outpacing increases for offshore product. Domestic tags are now 26% more expensive than imports, the widest pricing gap since January 2022.
CRU analysts share an update on the aluminm markets.
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.
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.
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.
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 […]
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 […]
US Hot-rolled coil (HRC) prices continue to surge on the heels of mill increases. They have become significantly more expensive than prices for hot band imported from offshore. Domestic hot band tags moved higher for a seventh consecutive week. Imports have seen only marginal gains over the same period, according to SMU’s latest foreign vs. domestic price analysis.
There seems to be a consensus that US sheet prices have nowhere to go but up in the short term, in part because offshore material ordered now won’t arrive until late March or even April.
Hot-rolled coil (HRC) tags continue to rally in the US, broadening the price disparity between domestic and imported offshore product.
You could make a case that Nov. 1 was April Fool’s Day for steel – or at least for the widespread rumor that Cliffs would announce a $10-billion deal for U.S. Steel on that date. I’m not going to endorse any precise date or price tag. But I’d be surprised if a deal – or […]
Sheet prices are getting back into very lofty territory. That’s assuming you can find spot tons available for the balance of 2023 – and some of you say you can’t.
The long-anticipated US-EU summit took place on October 20. There was wide anticipation that the two sides would announce a partial agreement on steel and aluminum policy and perhaps an agreement on critical minerals, such as lithium for electric vehicle batteries. Even modest accomplishments such as these were not to be. Instead, the US and […]
Taylor Swift’s “Shake It Off” could be the theme song for the sheet market over the last month. A UAW strike? Shake it off. The lowest ABI since December 2020? Shake it off. A potentially widening conflict in the Middle East? Shake it off. Sheet prices have been rising since late September, and hot-rolled coil […]
South Korea and Brazil will not be maxing out their allowable quotas on hot-rolled sheet shipments to the US for 2023, according to government data analyzed by SMU.
After a meeting Friday at the White House, the EU and US issued a joint statement noting no concrete movement towards a Global Arrangement on Sustainable Steel and Aluminum.
Wiley partner Alan Price will be the featured speaker on Steel Market Update’s next Community Chat webinar on Wednesday, Nov. 8, at 11 a.m. ET. You can register here.
US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.
The US and EU have apparently decided to move part way to a deal on steel and aluminum that will prevent a resumption of Section 232 tariffs.
US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.
The US and European Union are expected to sign a political agreement that puts a hold on a part of the Global Arrangement on Sustainable Steel and Aluminum (GSA) regarding the decarbonization of steel and aluminum making, according to an article in The Financial Times.
The US and European Union will continue trade talks on Friday, Oct. 20, according to a statement from the European Council.
US hot-rolled coil (HRC) and offshore product are nearing parity again after domestic prices moved higher this week and imports declined again.
Last week the World Trade Organization (WTO) held its periodic retreat for members to discuss the future of the organization.
US hot-rolled coil (HRC) prices were down again vs. offshore hot band this week. Domestic HRC lost more ground relative to imported product with US tags sinking at a faster rate than those overseas.
US President Joe Biden is set to meet European Commission President Ursula von der Leyen and European Council President Charles Michel on Oct. 20 in Washington ahead of a deadline for an agreement on steel, according to a report in Reuters.
Deputy United States Trade Representative (USTR) Jayme White met on Wednesday with Mexico’s Under Secretary of Economy for Foreign Trade Alejandro Encinas, and discussed issues regarding the “surge” into the US of Mexican steel and aluminum imports.
US hot-rolled coil (HRC) prices fell further relative to imported product this week. Domestic hot band remains cheaper than offshore HRC as US tags continue to sink at a sharper rate than those overseas.
US hot-rolled coil (HRC) continues to lose ground against imported hot band. Domestic product remains a better deal than offshore HRC as US tags sink further, according to SMU’s latest foreign vs. domestic price analysis.