Galvanized steel buyers reported a seller's market with steady demand, long lead times, and strong pricing on this month’s call of the Sheet Metal/Air Handling Council of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association.
Algoma is an important Canadian flat-rolled steel producer. It is also a significant supplier to the US market. We’ll discuss current dynamics in the North American sheet and plate markets – as well as some of the particulars of the Canadian market.
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 […]
The spread between hot-rolled coil (HRC) and galvanized sheet base prices has been hovering near $200 per net ton since late July, according to SMU’s latest analysis.
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 […]
The importation of basic pig iron has allowed EAF steelmakers to implement thin-slab casting technology to make drawing-quality flat-rolled sheet over the last 30 years.
In the dynamic landscape of the steel futures market, a confluence of factors is shaping the current narrative.
Algoma Steel CEO Michael Garcia will be the featured speaker on SMU’s Community Chat webinar on Wednesday, Nov. 29, at 11 am ET. You can register here.
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.
Friedman Industries was hit by falling steel prices in its fiscal 2024 second quarter ended Sept. 30, 2023, but anticipates improvement in its financial results for the remainder of the fiscal year.
Flat Rolled = 52.6 Shipping Days of Supply Plate = 61.8 Shipping Days of Supply Flat Rolled US service center flat-rolled steel inventories decreased for a third consecutive month in October. At the end of October, service centers carried 52.6 shipping days of supply, according to adjusted SMU data. This is down from 53.3 shipping […]
Sheet prices are up again. That shouldn’t come as a surprise on the heels of mill price hikes, scrap settling up and expected to move higher over the next few months, and inventories – as our premium subscribers will learn tomorrow – moving lower for a third month.
Spot prices for steel sheet shot upward again this week on the heels of steep price increases announced by domestic mills last week. SMU’s hot-rolled coil price rose to $940 per ton ($47 per cwt) on average, up $75 per ton from last week and up nearly $300 per ton from a 2023 low of […]
A group of California members of Congress is calling on U.S. Steel to keep its USS-UPI steel mill in Pittsburg, Calif., open by finding a buyer for the operations.
We’re just 12 weeks from Tampa Steel Conference 2024, one of the premier North American steel community events.
Tata Steel has announced plans to cut 800 roles at its sheet works in Ijmuiden, the Netherlands, to remain competitive and profitable in the future. “Despite all efforts by Tata Steel to improve its market position and reduce costs, more is needed and the company needs to bring down personnel costs further,” the company stated. […]
Nucor Corp. has announced its target date for net-zero greenhouse gas (GHG) emissions as 2050.
Cleveland-Cliffs announced it would seek a minimum base price of $1,000 per ton ($50 per cwt) for hot-rolled coil (HRC) on Nov. 7. Nucor said a day later that it was aiming for $950 per ton. Why didn’t Nucor follow Cliffs up to $1,000 ton? I think there might be some possible answers in our […]
Domestic heating and cooling equipment shipments declined in September, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).
CRU’s analysis shows that 7–12 million metric tons of additional steel demand will be generated following the issuance of RMB1 trillion bonds by the central government of China. The immediate impact of this is that market confidence has improved, which has supported prices. The additional steel demand is expected to materialize over 2024 and 2025. […]
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, […]
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.
US steel imports continue to arrive at a steady pace, as total import licenses in October were about even with September’s import levels.
Lead times for most sheet products were pushed out even further this week as domestic prices continue to rise. Plate lead times, meanwhile, contracted on falling prices and waning demand.
U.S. Steel’s Mon Valley Works in western Pennsylvania has not resumed full production of cold-rolled coil (CRC) following an outage last month, a company spokeswoman confirmed.
Hot-rolled coil (HRC) tags continue to rally in the US, broadening the price disparity between domestic and imported offshore product.
Spot prices for steel sheet continued to shoot upward this week, which brought yet another round of price hikes.
September shipments from American steel mills decreased vs. shipments in August, according to the latest monthly data from the American Iron and Steel Institute (AISI).
Cleveland-Cliffs Inc. said on Tuesday that it had raised minimum base prices for hot-rolled coil (HRC) to $1,000 per ton ($50 per cwt).
SMU gives an overview of the steel market and economic indicators for October.