Report Period: June 24 – July 1, 2026
Coverage: United States | Canada | Mexico

📌 Core Insights Snapshot (Full Version Contains 8–10 Detailed Bulletins)

Nucor Ends 23‑Week HRC Price Hike Streak. CSP HRC held flat at $1,130/st on June 29 – the first pause since late January. The company cited monitoring of imports and global price trends but affirmed that “underlying demand is strong and improving.”
SMU HRC Reaches $1,160/st – Matches 2023 High.** The spot average rose **$15/st WoW, with the upper end of the range touching $1,200/st. Any further gains would reach levels not seen since 2022. Lead times remain at 6–12 weeks (avg. 7.7 weeks).
Plate Prices Surge to 18‑Month High. Plate jumped $30/st WoW to $1,320/st, its highest since February 2024. SMU momentum remains at “higher,” signalling further increases ahead.
USMCA Joint Review Officially Begins – No Deal Expected. The formal review started July 1. Industry leaders do not anticipate a trilateral agreement by the deadline. Cross‑border steel trade continues under Section 232 duties.
Canada Extends Steel TRQ Surtax Through June 2027. Year 2 of the regime took effect June 28, maintaining quotas at 20% of 2024 import volumes for non‑FTA countries.
BDI Plunges to Two‑Month Low of 2,490. The sixth consecutive daily decline is materially easing ocean freight costs and widening the theoretical import arbitrage.

💰 Price Snapshot (Abbreviated)

Product This Week Trend Source
US Midwest HRC (SMU avg) $1,160/st** ▲ SMU, Jun 30
Nucor CSP HRC **$1,130/st ⏸️ Nucor, Jun 29
US Plate (SMU avg) $1,320/st** ▲ SMU, Jun 30
US Midwest CRC (SMU avg) **$1,360/st ⏸️ SMU, Jun 30
AISI Capacity Utilisation 80.2% ⏸️ AISI (wk ending Jun 20)
Baltic Dry Index 2,490 ▼ Baltic Exchange, Jun 29

💡 Sample Actionable Advice

For Procurement Managers:
✅ Lock Q3 HRC and plate requirements now – do not interpret Nucor’s pause as a signal to wait for lower prices. The SMU spot average surged to $1,160/st** and plate hit **$1,320/st. Underlying demand remains strong, scrap costs are firming, and lead times average 7.7 weeks. The pause is tactical, not demand‑driven.

For Export Sales Managers:
✅ Quote aggressive CFR US with transparent Section 232 compliance – the import arbitrage is attracting buyer attention. The BDI’s decline to 2,490 and Chinese HRC FOB at $490–500/t have widened the theoretical spread. The 85% US‑origin threshold for the 10% reduced rate is a competitive differentiator for exporters with qualifying metal content.

Unlock the Full Report to Access:

Complete pricing tables for HRC, CRC, HDG, Galvalume, Plate, Rebar, OCTG and Billet across the US, Canada, and Mexico
In‑depth analysis of Nucor’s tactical pause and what it signals for the rally’s next phase
Full breakdown of the USMCA review launch, industry expectations, and scenarios for the six‑year review clock
Canada TRQ extension impact assessment and Mexico CRC AD/CVD investigation update
Detailed supply‑side analysis: mill lead times, scrap market dynamics, port congestion, and freight trends
Week‑on‑week comparison of all key metrics against the prior June 17–24 period
Exclusive “Buy/Sell/Hold” recommendations for 8 product categories

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