Is the price of steel going up or down? What are steel prices today?
What is the price of steel?
The price of HRC (hot-rolled carbon) are hovering around the $800/ton mark as of early August. Carbon steel sheet prices have fallen to their lowest levels of the year. One of the drivers for this decline is a potential strike by the United Auto Workers. The automotive industry is a major consumer of steel, as well as a major producer of scrap, which is a primary ingredient in the production of new steel. That means any slowdown in this market could have multiple impacts on steel prices.
As of September 13:
•Hot roll steel prices were $699/ton, down $113/ton since last month.
•Cold roll steel prices were $9392/ton, down $14/ton since last month.
What are futures prices saying about the price of steel for the remainder of 2023? In the clip below, Nick Webb, Ryerson's director of risk management, commodity hedging, gives us his take:
Will Steel Prices Rise?
What are steel prices in 2023? Mark Gross, Ryerson's product manager for carbon flat roll, looks at some trends that could ultimately impact the direction of steel prices in the year ahead.
What is the Price of Steel Plate?
The steel plate market continues to show resilience as prices remain stable, driven by better-than-expected demand conditions and a limited number of plate mills. As of September 13, the price of steel plate was $1,466/ton.
The spread between PMP (plate mill plate) & HRC (hot-rolled coil) sat at around $750-$800/ton as of mid-September.
In the clip below, Webb digs into where steel plate prices could be headed in the coming months.
What is the Capacity Utilization Rate for Steel Mills?
According to the American Iron and Steel Institute, in the week ending on Sept. 9, 2023, domestic raw steel production was 1,721,000 net tons while the capacity utilization rate was 75.7%. This is down from the1,684,000 net tons in the week ending Sept. 9, 2022 with a capacity utilization rate of 76.4%.
What is the Price of Coated Steel?
As of September 13, the price of coated steel was roughly $961/ton, down $9/ton from last month. Nucor recently announced a reduction to their coating adders, effective for October shipments. For more on galvanized steel, check out this article.
Need to explore the current stock of carbon steel?
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