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US, Mexico set dates for negotiation ahead of USMCA review: USTR
The Office of the US Trade Representative (USTR) has announced that the United States and Mexico will be having a series of bilateral negotiating rounds related to the joint review of the US Mexico Canada Agreement (USMCA).
AMU Survey: Tightening aluminum market not met by inventory rebuilding
AMU’s May aluminum market survey showed lengthier rolled product lead times coupled with shrinking extrusion and primary booking windows, though inventory building and forward demand sentiment remained cautious.
Final Thoughts: Can HR crack $1,200 and other trends to watch this summer
Volume, which is usually a big positive for buyers in price negotiations, has arguably become a net negative.
SMU Price Ranges: Sheet and plate markets tighten
Sheet and plate price indices increased between $5-20 per short ton (st) from last week.
AISI: Raw steel output falls off multi-year high
US raw steel production slipped last week, falling from a multi-year high the previous week, according to the most recent American Iron and Steel Institute (AISI) data.
SMU’s Mill Order Index down slightly in April
SMU’s Mill Order Index (MOI) eased marginally in April, losing some momentum after moving higher in March.
Worthington launches $900M notes offering for Kloeckner buy
Worthington Steel said on Tuesday its subsidiary plans to raise $900 million through a senior secured notes offering to raise funds for the company’s proposed Kloeckner acquisition.
Demand picks up in scrap export markets
The export markets are generally showing an increased demand for scrap.
Pricing
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Flat-Rolled Steel Prices
| wdt_ID | Product | Low | Avg | High |
|---|---|---|---|---|
| 1 | HR | 1,070 | 1,095 | 1,120 |
| 2 | CR | 1,260 | 1,280 | 1,300 |
| 5 | GI | 1,240 | 1,260 | 1,280 |
| 6 | AZ | 1,240 | 1,270 | 1,300 |
| 7 | PL | 1,220 | 1,260 | 1,300 |
Steel Pricing Momentum
Flat-Rolled Lead Times
Steel Buyers’ Sentiment
Mill Spot Price Negotiations
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