Tag: Sheet

Steel buyers report that mills are willing to negotiate lower spot prices for the sheet products SMU surveys.

Movements in lead times were mixed this week, with those for hot rolled and Galvalume falling back marginally, and those for cold rolled, galvanized, and plate extending slightly.

We’re just a month out from Steel Summit, so I decided to go back and check on how things look now compared to ~30 days ahead of the event last year. For starters, approximately ~1,100 people are registered to attend the event on Aug. 21-23 in Atlanta. That puts us on track to meet or […]

The hot end of Steel Dynamics Inc.’s (SDI) Sinton, Texas, sheet mill is expected to be back up and running in the next few days.

The hot end of Steel Dynamics Inc.’s (SDI) Sinton, Texas, sheet mill is expected to be back up and running in the next few days. Executives made the announcement on the company’s second quarter earnings conference call with analysts on Thursday, July 20. On July 7, SDI announced an unplanned outage at the hot mill, […]

Steel buyers report that mills are willing to negotiate lower spot prices for the sheet products SMU surveys. It’s a different story in plate, where buyers find mills less willing to negotiate lower, according to SMU’s most recent survey data.  The percentage of respondents saying steel mills were willing to talk price on plate stood at 29% this […]

Steel Dynamics Inc. (SDI) posted lower year-over-year second quarter profits but said demand “remains solid” across the automotive, construction, industrial, and energy sectors. The Fort Wayne, Ind.-based steelmaker also predicted that steel prices might find support thanks to what it described as low customer inventories. “We remain confident that market conditions are in place for […]

Steel Dynamics Inc. (SDI) posted lower year-over-year second quarter profits but said demand “remains solid” across the automotive, construction, industrial, and energy sectors. The Fort Wayne, Ind.-based steelmaker also predicted that steel prices might find support thanks to what it described as low customer inventories. “We remain confident that market conditions are in place for […]

Hot-rolled coil prices remain rangebound between roughly $850-900 per ton ($42.50-45 per cwt), according to our latest market check. You could say that’s not news. Our HRC index settled at $870 per ton on Tuesday afternoon. A week-over-week decline of $20 per ton from $890 last week might be little more than noise. You’d want to […]

Sheet prices slipped by $20-25 per ton as hot-rolled coil (HRC) failed to break through the $900 per ton threshold some market participants had predicted it would. SMU’s average hot-rolled coil (HRC) price stands at $870 per ton ($43.50 per cwt), down $20 per ton from a week ago. Numbers at or around that figure […]

Editor’s note: Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact Lindsey Fox at lindsey@steelmarketupdate.com. Flat Rolled = 52.3 Shipping Days of Supply Plate = 58.1 Shipping Days of Supply Flat Rolled US service center flat-rolled steel supply edged up slightly in […]

Hot-rolled coil prices remain rangebound between roughly $850-900 per ton ($42.50-45 per cwt), according to our latest market check. You could say that’s not news. Our HRC index settled at $870 per ton on Tuesday afternoon. A week-over-week decline of $20 per ton from $890 last week might be little more than noise. You’d want to […]

On Steel Market Update’s most recent Community Chat, we caught up with Timna Tanners, managing director of Wolfe Research, to hear her latest take on the steel market.

US service center flat-rolled steel supply edged up slightly in June as daily shipments dropped to the lowest rate this year.

On Steel Market Update’s most recent Community Chat, we caught up with Timna Tanners, managing director of Wolfe Research, to hear her latest take on the steel market. Tanners chatted with SMU managing editor Michael Cowden about the myth of mill discipline within the sheet market. The market isn’t much more disciplined than a few […]

Sheet prices slipped by $20-25 per ton as hot-rolled coil (HRC) failed to break through the $900 per ton threshold some market participants had predicted it would.

I’ll get to the market in a minute. But first the big news, for us and we hope for you too. We crossed a big threshold this week with Steel Summit – more than 1,000 people are attending the conference on Aug. 21-23 at the Georgia International Convention Center (GICC) in Atlanta. Join more than […]

By CRU senior analyst, Ryan McKinley Oversupply in most markets of the world is easing. The key trend we are following (and expecting to occur) is further output cuts in China, which should keep many markets more stable than they have been recently. In China, sheet oversupply will not ease in the coming week given […]

After seeing an increase last week, the active rig count in the US is back down. Canada’s rig count, however, saw an increase from the previous week, according to the latest data from oilfield services company Baker Hughes. The total US rig count sat at 675 active rigs as of July 14, down five from the week prior. […]

Steel prices continued to erode in June, a trend that began halfway through April. Hot-rolled coil (HRC) prices ended June at $875 per ton (43.75 per cwt) on average, falling by $115 per ton throughout the month. The SMU Price Momentum Indicator for sheet products remained shifted to Neutral halfway through June, after turning Lower […]

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, import offers, and inventory. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your thoughts, too! Contact david@steelmarketupdate.com to be included in […]

Domestic scrap prices fell for busheling and shredded grades in July, while tags were mostly sideways to slightly up on heavy melting scrap, sources said. “Between tight scrap supplies, slightly better-than-expected domestic demand in the South and Ohio Valley, and relatively stable export pricing, the market trended sideways for obsolete grades in those regions as well […]

Sheet prices inched up this week on less discounting from major mills and on expectations that activity could improve in the coming weeks as OEMs return to the market following widespread summer shutdowns in early July. SMU’s hot-rolled coil price stands at $890 per ton ($44.50 per cwt), up $10 per ton from last week […]

Steel Dynamics Inc. (SDI) last week announced a two- to four-week outage on the hot mill at its Sinton, Texas, flat-rolled mill. The company said on Friday, July 7, that the unplanned outage resulted from “caster shear equipment issues” that occurred on July 1, but that it will continue to operate the cold mill and coating lines. Steel Market Update has […]

Join us for SMU’s next Community Chat webinar with Wolfe Research managing director Timna Tanners. The webinar will be held on Wednesday, July 12, at 11 a.m. ET. It’s free for all to attend. A recording will be available to SMU members. You can register here. We’ll talk about what Tanners describes as “the myth […]

Raw steel production in the US has dropped for the second week in a row, according to data released on Monday, July 10, by the American Iron and Steel Institute (AISI). Steel production in the US stood at 1,711,000 net tons for the week ended July 8, down 1.7% from 1,740,000 the previous week. Domestic production is […]

US steel exports spiked in May to the highest monthly level in nearly five years. Exports reached 914,018 net tons in May (Fig. 1), according to the latest figures from the US Department of Commerce. That’s 19% higher month-on-month and 15% higher year-on-year. Recall that exports in March neared a five-year high; May’s total was […]

It’s the time of year when I’m going to be banging the drum about Steel Summit – even in the lede to Final Thoughts 🙂 We’ll get to the latest steel market trends in a moment. But first I want to highlight that hotels are still available near the Georgia International Convention Center (GICC) in Atlanta, where […]

US steel imports climbed in June to the highest monthly level over the past 12 months, based on June import license data compiled by the US Department of Commerce. Import license applications reached 2,803,597 net tons in June, according to Commerce’s license count as of July 5. This was a 20.7% spike from the month […]

Steel Dynamics (SDI) announced a two- to four-week outage on the hot mill at its flat-rolled steel mill in Sinton, Texas. The Fort Wayne, Ind.-based steelmaker said it expected the hot mill to restart before July 30. The company said in a release on Friday, July 7, that the outage, which was unplanned, resulted from “caster shear equipment […]