Steel Products Prices North America
United Taconite Restart Moved Up to August
Written by Sandy Williams
June 9, 2016
Cliffs Natural Resources announced today that it will restart its United Taconite mining facility in August. The restart was originally scheduled for October but will occur two months early due to additional pellet tonnage ordered by US Steel Canada.
Cliffs is revising its 2016 sales volume guidance to 18 million tonnes from 17.5 million tonnes. Production volume has been increased by 500,000 tonnes to 16.5 million tonnes.
Lourenco Goncalves, Cliffs’ Chairman, President and Chief Executive Officer, stated: “The vast majority of the steel companies in North America are currently enjoying stronger order books, and their demand for high quality iron ore pellets from a reliable supplier is increasing. With that, Cliffs’ business continues to gain very positive momentum, with the improvement of the existing business with our long established clients and the addition of new ones.”
“We are very pleased to announce an increase of our pellet supply to U.S. Steel Canada, who became a new Cliffs’ client in 2016. US Steel Canada used to be a captive client of its former parent company U.S. Steel Corporation.
“We are also very pleased to announce a higher sales guidance for 2016, thanks to this new business with U.S. Steel Canada, which came at a higher tonnage than we had previously anticipated. Most importantly, I am happy to bring our entire UTAC team back to work a lot earlier than previously announced last week.”
SMU Note: Steel Market Update will welcome Lourenco Goncalves, Cliffs Chairman, President and CEO, as one of our Steel Summit 2016 keynote speakers. Mr. Goncalves, a highly entertaining speaker will discuss the iron ore markets as well as factors in the world affecting those doing business in North America with those attending our 6th Steel Summit Conference on August 29-31 in Atlanta, Georgia. Details can be found on our website: www.SteelMarketUpdate.com
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products Prices North America
Nucor raises HR spot price to $775/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $775 per short ton (st) on Monday, Feb. 3. The $15/st week-on-week (w/w) rise marks the first back-to-back increases in the steelmaker’s weekly CSP since last August, according to SMU’s mill price announcement calendar. Nucor’s joint-venture subsidiary California Steel Industries (CSI) is also up […]
Nucor raises HR spot price to $760/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $760 per short ton (st) on Monday, Jan. 21. The $10/st week-on-week (w/w) rise marks the first increase in the CSP since Nov. 12. According to SMU’s mill price announcement calendar, the Charlotte, N.C.-based steelmaker held the weekly price at $750/st for 11 […]
SMU price ranges: Slow start to the year
Steel prices ticked lower this week for four of the five products SMU tracks, according to our latest canvass of the sheet and plate markets. Following last week’s bump, our hot rolled, cold rolled, galvanized, and plate indices all edged lower this week by $5-15 per short ton (st) on average. Galvalume was the only […]
Nucor holds the line on published HR spot price
The steelmaker has kept its weekly consumer spot price for hot-rolled steel sheet unchanged since Nov. 12.
Nucor’s HR spot price unchanged for 5th week
Nucor’s weekly spot price for hot-rolled (HR) coil will remain at $750 per short ton (st) for a fifth week.