Sheet prices rose again this week as a blitz of $50-per-ton ($2.50/cwt) price hikes spurred the market higher. Steel Market Update’s hot-rolled coil price now stands at $825 per ton, up $15 per ton from last week and nearing the highest levels we’ve seen since late July. The difference: HRC prices were on their way […]
It’s always interesting to take a peek behind the curtain. For Michael Cowden, managing editor of Steel Market Update (Hey, that’s us!), it’s a common experience. As a seasoned journalist, Michael is no stranger to asking the tough questions. Multiple times a year he moderates panel discussions, live interviews, hosts workshops, and speaks at various industry functions. […]
SMU polled steel buyers on a variety of subjects on Monday and Tuesday of this week, including current and future steel prices, inventory strategies, supply, demand, and new mill capacity. Rather than summarizing the comments we received, we are sharing them in each buyer’s own words. We want to hear your thoughts, too! Contact becca@steelmarketupdate.com to […]
Sheet prices are up again. I haven’t heard much quibbling with that. Upstream, scrap prices are moving up as they typically do in January. And downstream, we’re seeing service centers raising prices roughly in tandem with domestic mills – or at least holding them steady. No, 2023 is not starting off with a big bang […]
Steel sheet prices have bottomed or soon will, according to most respondents to our latest market survey. We’ve also seen an uptick in expectations about future prices. The chart below provides a quick before/after snapshot of expectations for prices ahead of Thanksgiving and then following price hikes of $60 per ton ($3 per cwt) announced […]
Hot-rolled coil notched its first consecutive price gains since March on the heels of $60-per-ton ($3-per-cwt) price hikes announced last week. Don’t get me wrong. The price increases have not stuck in full. They often don’t after an initial round. But they have put a floor under prices. And the market seems to be inflecting […]
US plate prices fell this week, responding to Nucor’s latest price announcement on Monday, Sept. 19. Price tags remain under pressure and further declines are expected through the fourth quarter as spot demand is likely to remain limited. But few expect Nucor’s latest plate price announcement to generate any immediate business, sources told SMU, speculating […]
US plate prices were unchanged this past week but remain under pressure. Spot demand is limited, with sources noting that Nucor’s efforts to keep prices flat might be short-lived. Recall that Nucor announced it would keep some plate prices flat and decrease certain cut-to-length items as much as $150 per ton ($7.50 per cwt) with the […]
The following article on the hot-rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled Weekly changes in the value of spot HR have continued to drop an average of about $30/net ton but it should […]
Eariler this week, SMU polled steel buyers on a variety of subjects including current and future steel prices, price increase announcements, supply, demand, and new mill capacity. Rather than summarizing the comments we received, we are sharing them in each buyer’s own words. We want to hear your thoughts, too! Contact Brett@SteelMarketUpdate.com to be included […]
A growing number of steel market participants think that hot-rolled coil (HRC) prices will fall below $1,000 per ton ($50 per cwt). An increasing number also think that prices won’t hit bottom until the third quarter at the earliest. Check out the charts below. SMU’s HRC price was at $1,190 per ton ($59.50 per cwt) […]
Flat Rolled = 51.4 Shipping Days of Supply Plate = 48.3 Shipping Days of Supply Flat Rolled US service center flat rolled inventories declined slightly in April in terms of shipping days of supply, while the amount of material on order rose again. At the end of April, service centers carried 51.4 shipping days of […]
Today we are sharing the full proposed agenda for the 2022 SMU Steel Summit Conference. As you will note there are a few programs where we are in negotiations with speakers or working on making sure the program is fresh for those who have attended our conference in the past. There are several themes we […]
Today we are sharing the full proposed agenda for the 2022 SMU Steel Summit Conference. As you will note there are a few programs where we are in negotiations with speakers or working on making sure the program is fresh for those who have attended our conference in the past. There are several themes we […]
Flat Rolled = 52 Shipping Days of Supply Plate = 44.4 Shipping Days of Supply Flat Rolled US service center flat rolled inventories edged down further in March. Inventories did not fall as much as expected, as attitudes about inventory changed with the reversal of pricing trends. At the end of March, service centers carried […]
Steel Market Update has been working on the agenda for the 2022 SMU Steel Summit Conference, which will be held in Atlanta on August 22-24. This year’s conference will address many of the issues affecting the flat-rolled and plate steel markets. Over the next few issues, we will roll out our conference program, many of […]
Steel Market Update has been working on the agenda for the 2022 SMU Steel Summit Conference, which will be held in Atlanta on August 22-24. This year’s conference will address many of the issues affecting the flat-rolled and plate steel markets. Over the next few issues, we will roll out our conference program, many of […]
The war in Ukraine continues to impact the volatility in steel markets around the world. Here in the United States, we have seen steel buyers coming off the sidelines as they look to protect themselves against the possibility of being short steel. This despite flat-rolled steel inventories being at 2.72 months’ supply at the end […]
The fog of war. That’s what we’re all dealing with now. Even in steel as realization grows that the war in Ukraine will have consequences here in North America too. The exact contours are still uncertain. We know that pig iron prices are up sharply, and that concerns about shortages are mounting – not just […]
I don’t want to lead prices down, but I don’t think it’s any secret at this point that sheet prices are falling fast. “The prophecies have been borne out,” is how one mill executive put it. What does that look like in practical terms? Some mills are offering hot-rolled coil at about $1,200 per ton […]
The ongoing correction in steel prices is not a reflection of demand, which is strong now and is expected to remain so for the balance of 2022, Steel Dynamics Inc. (SDI) executives said. Hot-rolled coil prices are roughly in line with published price ranges of $1,300-1,400 per ton ($65-70 per cwt), although a limited number […]
I want to spend some time talking about the Steel Market Update website and the value that can be found there. Over the years we have tweaked and added new content to the site as we strive to provide more information to the industry and our readers. The SMU Website There are a number of […]
I want to spend some time talking about the Steel Market Update website and the value that can be found there. Over the years we have tweaked and added new content to the site as we strive to provide more information to the industry and our readers. The SMU Website There are a number of […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Monitor, Dec. 15 Seasonal pressures are starting to temporarily slow demand for some steel products. For sheet, this weakness is adding to a monumental shift in supply fundamentals. For other products, an unseasonably warm start to December has allowed construction demand to remain stronger than normal. […]
We are quickly coming up to the Christmas and New Year’s Holidays. I hope everyone has been able to complete whatever shopping you need to do, sent out your cards and notes to your family and friends, and have ample snacks to get you through New Year’s Eve gatherings, football games, board or card games, […]
Flat-rolled steel inventories continue to rise at service centers, and steel buyers are not flocking to do their normal end-of-year deals with steel mills. Steel Market Update has not yet produced our final Service Center Inventories and Shipment report. But we have published our “Flash” report, which we provide to our data providers after collecting five […]
Flat-rolled steel inventories continue to rise at service centers, and steel buyers are not flocking to do their normal end-of-year deals with steel mills. Steel Market Update has not yet produced our final Service Center Inventories and Shipment report. But we have published our “Flash” report, which we provide to our data providers after collecting five […]
Spot prices might be wobbling. But mill balance sheets are as strong as they’ve ever been – and the cash will continue to pour in as 2022 contracts reset at substantially higher numbers. Here are two opposing trends I’m keeping an eye on: (1) whether mills will use their cash hoards to expand outside of steel […]
By CRU Senior Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service, Nov. 18 In the last several weeks, U.S. sheet prices have started to decline, though prices remain well above global prices. Under pressure from imports and service centers eager to sell high-cost inventory before the end of the year, prices for processed […]
Hot-rolled coil prices continue to slide. And galvanized base prices are holding more or less steady. What gives? Check out the slide below. The green line is galvanized base prices. The blue line is lead times. Prices are on the left-hand side of the slide. Lead times are on the right. Prices have been around […]