For those of you who have never gone to New York City to participate in or be around the Steel Success Strategies Conference, you are missing an experience. The sheer concentration of steel mills, trading companies, service centers and manufacturing companies as well as scrap, logistics, shipping, toll processors, equipment can be overwhelming. After spending […]
Our ferrous scrap sources are advising Steel Market Update that June saw the bottom to scrap prices and July will see prices move sideways (no change) to as much as up $20 per gross ton. If scrap prices do indeed rise by as much as $20 per ton, this could be important for steel buyers […]
Steel imports in May increased 7.4 percent from April to 4 million net tons, a 41.5 percent increase over May imports in 2013. The year-to-date total is now 17.5 million net tons, 31.7 percent higher than the same period last year. Steel imports have been a headline issue for the steel industry in the last […]
Something has to give. US Steel announced during the month of June the closure of two of their OCTG production facilities. The McKeesport facility has a capacity of 315,000 tons of OCTG per year while the Bellville operation capacity is 100,000 tons of OCTG on an annual basis. Total US Steel production capacity of oil […]
The American Iron & Steel Institute (AISI) reported their final raw steel production numbers for the month of May 2014. This estimation is different than the weekly raw steel production as it is based on 75 percent of the domestic mills reporting vs. 50 percent for the weekly estimates. Total raw steel production for the […]
The latest steel import census data has preliminary imports at 4,016,437 net tons in May, the highest tonnage levels seen since 2006. May represents a 7.4 percent increase over the previous month and an increase of 1,178,145 tons or 41.5 percent compared to May 2013. Foreign steel now represents 28 percent of the steel market. […]
The HRC futures market has been stuck in a rut over the past couple of weeks in terms of both volumes and price volatility. The market remains backwardated with the spot price now at 670 and the July futures value around 650, Q3 630 and Q4 630. While prices in the physical market have softened […]
Steel Market Update participates in a number of social forums including one of our own which is hosted on LinkedIn. Our LinkedIn group name is: Steel Market Update and if you are a LinkedIn member you are invited to join. We received the following questions after posting one of our articles about May imports on […]
We are moving deeper into a holiday week and, with the exception of US Steel, all is quiet on the western (and eastern for that matter) front. The US Steel announcement of a $25 per ton base price increase on spot flat rolled prices has created some interest within the steel community. However, we are […]
On Monday, United States Steel (USS) announced a base price increase on all new flat–rolled steel orders. The $25 per ton increase ($1.25/cwt) was to be “…applicable to all open quotations and/or negotiations where an agreement is not yet concluded….” As with most price announcements all published pricing extras were to be applied to any […]
For those buying coated products, zinc prices have been rising and by the end of the month of June were reported by the LME to be $1.0045 per pound. This is the first time zinc has exceeded $1.00 per pound since September 2011 just prior to the adjustment of the galvanized coating extras in January […]
For the week ending June 28, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,863,000 net tons (NT) of raw steel, a 0.9 percent decrease over the previous week but a 2.1 percent increase over the same week one year ago. The estimated capacity utilization rate is 77.5 […]
With the exception of Platts, the balance of the steel indexes followed by Steel Market Update dropped slightly with benchmark hot rolled coil now averaging $667 per ton, down $4 per ton for the week. When looking at cold rolled Platts was unchanged, SMU was up $5 per ton to $785 per ton with CRU […]
The American Iron & Steel Institute (AISI) reported their final raw steel production numbers for the month of May 2014. This estimation is different than the weekly raw steel production as it is based on 75 percent of the domestic mills reporting vs. 50 percent for the weekly estimates. Total raw steel production for the […]
Steel imports in May increased 7.4 percent from April to 4 million net tons, a 41.5 percent increase over May imports in 2013. The year-to-date total is now 17.5 million net tons, 31.7 percent higher than the same period last year. Steel imports have been a headline issue for the steel industry in the last […]
Our ferrous scrap sources are advising Steel Market Update that June saw the bottom to scrap prices and July will see prices move sideways (no change) to as much as up $20 per gross ton. If scrap prices do indeed rise by as much as $20 per ton, this could be important for steel buyers […]
Steel Market Update participates in a number of social forums including one of our own which is hosted on LinkedIn. Our LinkedIn group name is: Steel Market Update and if you are a LinkedIn member you are invited to join. We received the following questions after posting one of our articles about May imports on […]
Steel Market Update spent an extraordinary amount of time on today’s price ranges and averages. There has been a lot written recently about demand supporting prices and the lack of supply supporting prices. However, the deeper we dug the more questions we began to ask about what is real and what is a little murky. […]
The latest steel import census data has preliminary imports at 4,016,437 net tons in May, the highest tonnage levels seen since 2006. May represents a 7.4 percent increase over the previous month and an increase of 1,178,145 tons or 41.5 percent compared to May 2013. Foreign steel now represents 28 percent of the steel market. […]
For the week ending June 21, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,880,000 net tons (NT) of raw steel, a 1.6 percent increase over the previous week and a 3.1 percent increase over the same week one year ago. The estimated capacity utilization rate is 78.2 […]
The SMU Comparison Price Indices saw prices dropping on all products except plate products. Benchmark hot rolled coil saw pricing drop anywhere from $2 per ton (CRU) to $10 per ton (Platts). The HRC average dropped $6 per ton for the week to $670 per ton. Cold rolled also dropped on all of the reporting […]
The HRC futures market has been stuck in a rut over the past couple of weeks in terms of both volumes and price volatility. The market remains backwardated with the spot price now at 670 and the July futures value around 650, Q3 630 and Q4 630. While prices in the physical market have softened […]
According to industry sources, SSAB Americas announced a price increase on plate products as well as hot rolled coil. The price increase was referenced at $30 per ton ($1.50/cwt) and are effective immediately. Nucor and ArcelorMittal advised their customers after the SSAB announcement was made supporting the $30 per ton move. SMU learned from multiple […]
Global steel mill production in May on a tons per day basis was 4.554 million tonnes. The last three months have all been greater than 4.5 million for the first time ever which drove the three month moving average (3MMA) of production in May to another all-time high annual rate of 1.677 billion tonnes and […]
Based on the most recent import license data produced by the U.S. Department of Commerce, imports continue to be on pace to meet, or exceed, 3.5 million net tons. This would be the 3rd month in a row where foreign steel imports were at 3.5 million tons or above. Since the beginning of the year […]
Steel Market Update is seeing some slippage in flat rolled steel prices this week when compared to one week ago. Most of the changes came at the lower end of the range and the trend we are seeing is for prices to continue to slowly slip over the next 30 days. As we mentioned in […]
For those of you who have never gone to New York City to participate in or be around the Steel Success Strategies Conference, you are missing an experience. The sheer concentration of steel mills, trading companies, service centers and manufacturing companies as well as scrap, logistics, shipping, toll processors, equipment can be overwhelming. After spending […]
Novo International Limited i/o Formosa Steel Limited is, to the best of our knowledge, the first Asian iron ore trading company to sell iron ore that had been imported into China and re-sell the ore for export out of China to a non-Chinese destination. Steel Market Update learned about three weeks ago, due to the […]
For the week ending June 14, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,845,000 net tons (NT) of raw steel, a 0.3 percent increase over the previous week and a 1.4 percent increase over the same week one year ago. The estimated capacity utilization rate is 76.9 […]
Two flat rolled steel price indexes, Steel Market Update and Platts, saw little movement in flat rolled steel prices this past week. The two indexes are probably the closest they have been in some time with SMU showing hot rolled pricing averaging $670 per ton ($33.50/cwt) while Platts has their benchmark HRC price at $675 […]