Steel Prices
August 1, 2023
Written by David Schollaert & Michael Cowden
Sheet prices slipped for the third consecutive week on continued discounts from certain mills for larger buyers.
While some sources raised questions about demand, others said they expect prices and activity to firm as lead times move into the typically busier period after Labor Day.
Calm before the storm
It has been a crazy 2024 so far for hot-rolled coil (HRC) futures!!! “It’s not crazy, it’s hot rolled.” This chart shows the steeply backwardated Midwest HRC futures curve on Jan. 3 plummeting between $186 to $241 in the front three months, evolving into the curve six weeks later on Feb. 12. CME hot-rolled coil […]
Having just attended the historically significant ISRI Mid-America Chapter Consumers Night Banquet in St. Louis and waiting for my delayed flight, it seemed I had the perfect opportunity to inform the industry of a few items that came out while wheeling and dealing in the beautiful Union Train Station Hotel. For the West Coast export […]
The spread US hot-rolled coil (HRC) prices had held over offshore product for much of the year has almost evaporated, according to SMU’s latest foreign vs. domestic price analysis.
Sheet prices slipped again, continuing a trend of lower week-over-week tags that began in mid-July.