Steel Products Prices North America
Iron Ore Spot Prices Reach $100
Written by John Packard
May 17, 2014
Steel Market Update was advised on Friday from one of our iron ore and steel trading sources in Asia that the Chinese export markets are in turmoil as spot iron ore prices drop, domestic (China) steel prices are dropping and export offers are being hit as well. On Friday of this past week The Steel Index reported 62% Fe iron ore fines as being $100.7/dmt (dry metric ton).
Our trading source provided the following information:
“Steel prices are now being held as Ore was HAMMERED today and we are now at USD100/mt CNF FO for 62% Ore on Index and bids BELOW this USD100/mt level!
We had HRC at USD530/mt FOB ST. LSD for 2.00mm and up in S235/S275/S355JR for EU which is the Min. Yield (i.e. 235N/mm2….), and Silicon Controlled to 0.03%, and today with the Forex draining from 1.40 to 1.356, no business can be done, and the mills asked if we can try USD510/mt… It is very unstable now John and the prices that I could give you are no longer valid now as the mills are dropping levels and it may be best to try again on Monday when I know all the new levels.”
John Packard
Read more from John PackardLatest in Steel Products Prices North America
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
SMU Price Ranges: Some predict bottom is near as big discounts dry up
Sheet prices were mixed this week as some mills continued to offer significant discounts to larger buyers while others have shifted toward being more disciplined, market participants said.
SMU Price Ranges: Tags mixed as uncertainty weighs on market
SMU’s hot-rolled (HR) coil price held steady this week while prices for other sheet and plate products declined.
Nucor spot HR list price unchanged at $875/ton
Nucor kept its weekly list price for hot-rolled (HR) coil unchanged this week, following a price bump of $10 per short ton (st) last week.
SMU price ranges: Flat-rolled balloon continues to leak
Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.