Hot-rolled coil prices are known for their volatility. There are a variety of hedging strategies industry players have used to manage it, one of them being the use of HRC futures. However, some have been hesitant to dip in their toe, and their money, in futures and have preferred other approaches.
Offshore cold-rolled (CR) coil prices remain significantly cheaper than domestic product. That remains the cause even as US CR coil prices continued to tick lower. All told, US CR prices are now 17.6% more expensive than imports. While still high, that premium is down from 19.4% last week and down from 31.5% in early January.
S drill rig activity held steady last week, remaining near two-year lows according to the latest update from Baker Hughes
Steel sheet prices across most regions of the world were little changed this week. European buyers remain cautious regarding their outlook towards end-use demand and largely remained out of the market. A similar trend was seen across Asia, although skepticism on real estate stimulus measures in China led to w/w price falls. In the US, […]
We have highlighted a few significant moment in steel history in our last few Final Thoughts crosswords. This week we decided to dedicate the entire crossword to history.
Most metalformers expect economic activity to be level to down over the next three months, according to the May Business Conditions Report from the Precision Metalforming Association (PMA).
Steel imports jumped from March to April and are looking nearly as strong for May, according to updated Census data released earlier this week.
The US OCTG Manufacturers Association (USOMA) announced that the US Customs and Border Protection (CBP) agency made an initial affirmative determination of duty evasion practices.
U.S. Steel and Nippon Steel Corp. (NSC) said they have received all regulatory approvals outside of the US for the proposed sale of USS to the Japanese steelmaker.
US hot-rolled (HR) coil prices ticked down further this past week, moving closer to parity with offshore hot band prices on a landed basis. This week, domestic HR coil tags were $750/st on average based on SMU’s latest check of the market on Tuesday, May 28.
Reibus International Inc. is a growing and maturing company, finding its way in the world of steel. Like any youngster, it is moving through growing pains and pushing through to reach new heights. After rapid growth in its infancy, six-year-old Reibus is now naturally transitioning from being a founder-led company to a management-led one, according to its new leader, Jared Rowe.
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 prices slipped again this week on a combination of moderate demand, increased imports, and higher import volumes.
Let's take a collective deep breath ::in:: and ::out::... And we're back. But where exactly are we? Are steel prices going up or down? Is demand really decelerating or is it an illusion? How is the market navigating the new mill pricing mechanisms?
Raw steel production in the US inched higher for a fourth consecutive week, the American Iron and Steel Institute (AISI) reported on Tuesday.
Prices for galvanized products have fallen from last month, and many market participants expect tags to continue their descent or at best remain flat in the month ahead.
The Biden administration recently announced tariffs on several products from China, including steel and aluminum. There has been much rejoicing over this move and there has been a great deal of support from the steel industry.
Nucor’s Consumer Spot Price (CSP), a legitimate mill offer price, is a potential disruptor to North American steel sheet commercial and procurement strategies. We will dive into the details of what we think the CSP is and why we believe it is a potential disruption to how the North American sheet market operates.
US drill rig activity eased further last week, receding to levels last seen at the start of 2022 according to the latest update from Baker Hughes
After achieving its 2030 greenhouse gas (GHG) emissions reduction targets well ahead of schedule, Cleveland-Cliffs Inc. has set new reduction goals.
Steelmaking raw material prices have moved in different directions over the past month, according to SMU’s latest analysis.
In conjunction with President Biden’s visit to Vietnam in September 2023, Vietnam’s government petitioned the US Department of Commerce (DOC) for “market economy” treatment. This would be a major trade concession, as DOC has recognized for years that Vietnam’s economy does not operate according to market principles. However, graduating Vietnam to market economy status would […]
Why have steel emissions policies forgotten about recycling? The short answer is that they haven’t. ResponsibleSteel was recently characterized in an article featured in the SMU Executive Newsletter as advocating for steel emissions policies which “discourage recycling.” In fact, ResponsibleSteel sees recycled scrap as playing a critical role in driving steel decarbonization. Recent revisions to […]
The LME 3-month price for aluminum was broadly stable on the morning of May 24 and, at the writing of this article, was last seen trading at $2,627 per metric ton. The price fell sharply during the week from its recent peak amid hawkish comments from Fed officials, as indicated in the minutes of the […]
Here’s something I didn’t expect to see this week: SMU’s Current Buyers’ Sentiment Index dropped to its lowest point since August 2020.
Offshore cold-rolled (CR) coil prices remain a cheaper option over domestic product, even as US CR coil prices tick lower, according to SMU’s latest check of the market.
US hot-rolled (HR) coil prices declined again and now stand nearly even with offshore hot band on a landed basis.
Sideways and range-bound describes the US steel derivatives market over the past week, though the monthly picture shows a more notable decline in front-end flat prices. Week-over-week saw the June futures contract firm slightly, from $770 per short ton (st) to $780/st as of Thursday, May 23’s provisional close. However, the contract was down by […]
Venture Steel announced plans to expand its flat rolled processing facility in Ramos Arizpe, Coah., Mexico.
Lead times on most steel products tracked by SMU held steady or contracted this week compared to two weeks earlier, according to our latest market survey.