Steel Products Prices North America
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Iron Ore Spot Prices Continue to Collapse
Written by John Packard
December 10, 2015
As the domestic mills announce price increases in the hopes of changing market momentum, one of the negatives is the spot price of iron ore in China (the largest seaborne ore buyer). Iron ore prices have been collapsing for the past two years with 62% Fe fines reaching $37.5/dmt today (TSI data).
As you can see from the graphic below, this year began with 62% Fe fines trading on the spot market at $71.2/dmt – almost double the level we are seeing right now.
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John Packard
Read more from John PackardLatest in Steel Products Prices North America
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Nucor inches HR price up, aims for $695/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $695 per short ton (st), up $5/st from last week.
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Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil is unchanged from last week at $690/ton.
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CRU: US prices find a bottom as other markets fall
The US sheet market appears to have reached a bottom following consistent weekly declines since April. However, other markets remain weak due to limited demand. Trading in Europe has been slow due to summer holidays. While European mills are also undergoing maintenance outages, these have not been enough to offset ongoing price falls, with weak […]
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Cliffs seeks $700/ton for HR, up $30/ton from last week
Cleveland-Cliffs said on Wednesday that it would seek at least $700 per short ton (st) for hot-rolled (HR) coil. The Cleveland-based steelmaker said it made the move "due to ongoing market developments." The company said the increase was effective immediately for HR orders for September.
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Nucor aims for $675/ton for HR
Nucor has raised its consumer spot price (CSP) for hot-rolled (HR) coil to $675 per short ton (st), up $25/st from last week.