Sheet prices continue to bump around what some sources think might be the top of the market, with prices for most products down modestly week-over-week. Hot-rolled coil and cold-rolled prices slipped $30 per ton ($1.50 per cwt). Galvanized base prices were down $20 per ton. And Galvalume prices slipped $45 per ton. The dip comes […]
Preliminary Census data shows that steel imports in March increased 31% month-over-month to 3.09 million net tons, rising from an 11-month low to a 2+ year high. April import licenses through April 24 are currently at 2.07 million tons, down 33% from March and down 12% compared to February. Preliminary finished steel imports were 2.52 million tons in March, up […]
Steel Market Update sources expect ferrous scrap prices to decline in May, following record high prices in March and April due to the Ukraine-Russia war. Some expect obsolete grades to decline significantly from April, with busheling prices potentially down as well. “Just looking at the export market makes me think US domestic will see significant drops for all […]
Raw steel production by US mills expanded again last week, now rising for a third straight week. Utilization rates grew further, reaching its highest mark in 13 weeks. Domestic output totaled 1,784,000 net tons in the week ending April 23, while mill capacity utilization was 81.7, reported the American Iron and Steel Institute. US output […]
Matthew Abrams, Analyst, CRU Group As costs, premiums, and prices all remain high, market participants across all sectors are all looking for the edge of the cliff. The war, Covid 19, and inflation are all part of the daily conversation. Supply disruptions and demand destruction are very real worries for all those involved. In what could […]
The relationship between hot rolled and galvanized steel prices has fluctuated heavily over the past six months, with galvanized selling between a $200-545 per ton premium over hot rolled in that time frame. The premium reached record high levels as steel prices declined earlier this year, only beginning to dial back when steel prices reversed course in early March. SMU’s […]
By CRU Prices Analyst Alexandra Anderson, from CRU’s Steel Monitor, April 21 Request more information about this topic. Learn more about CRU’s services at www.crugroup.com
Earlier this week, US Steel and Big River Steel notified customers of an upward revision to their galvanized steel coating extras. New USS extras are effective May 29, 2022, while BRS extras are effective June 4, 2022. “Input costs of zinc and aluminum for our Hot Dipped Galvanized and Galvalume products have continued to rise, […]
Following record price increases in March, prices for four of the seven of the steelmaking raw materials tracked in this SMU analysis increased over the last 30 days. Through late April, pig iron prices increased 18% compared to one month prior, zinc prices rose 15%, busheling scrap prices increased 11%, and iron ore prices were up […]
Imports of less expensive sheet and plate products continue to arrive at US ports, but at a slower pace. February marked only the second decrease in overall flat product imports in 10 months, according to Commerce Department data. Imports’ share of the US sheet and plate products markets peaked in December, reaching their highest levels in the […]
The following article on the hot rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled Recent HR spot price increases have continued to decelerate this month as prices near $1,500/ton. Initial market metallic supply concerns […]
According to the latest Steel Market Update data, the spread between hot rolled coil prices and prime scrap prices has changed course after reaching an 18-month low in March. The latest spread is in line with levels seen this time last year, and two times higher than pre-pandemic spreads. The SMU hot rolled coil price average […]
The competitive advantage import prices hold over domestic steel has increased this week, according to SMU’s latest foreign versus domestic hot-rolled coil (HRC) price comparison. Select foreign HRC prices range from $47-335 per ton cheaper than domestic prices, after taking freight costs, trader margins and tariffs into consideration. Recall that the price differentials between domestic […]
Sheet prices rose modestly across this board this week, following slight declines seen last week. Steel Market Update’s check of the market puts benchmark hot-rolled coil prices at $1,480 per ton, up $30 per ton from one week prior. Coated and plate products saw increases as well, moving upwards between $10 and $40 per ton […]
Raw steel production by US mills grew last week, expanding for the second straight week. Utilization rates exceeded the 80% mark for the first time in four weeks. Domestic output totaled 1,766,000 net tons in the week ending April 16, while mill capacity utilization was 80.9%, reported the American Iron and Steel Institute. US output […]
On Monday, April 18, Nucor and USS-UPI both notified customers of an upward revision to their galvanized steel coating extras. New Nucor extras are effective June 4, 2022, while USS-UPI extras are effective immediately (April 19, 2022). “Consistent with our practice to monitor the cost of zinc, we have revised our galvanized coating weight extras […]
The following article on the hot rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled As the Russia/Ukraine conflict continues to smolder the upward trend in spot HR prices appears to have stalled this week […]
The competitive advantage foreign import prices hold over domestic steel is relatively unchanged from our previous update, with most prices moving just $10-$20 from last week, according to SMU’s latest foreign versus domestic hot-rolled coil (HRC) price comparison. Select foreign HRC prices range from $305 per ton cheaper than domestic prices to $27 per ton more expensive, […]
Ferrous scrap prices were mixed in April, with busheling up $75 per gross ton (GT), shredded scrap flat, and HMS down $20/GT. These were not the movements scrap experts had expected, with late March forecasts calling for obsolete grades up $50-$100/GT over March and busheling up $120-$200/GT. “April ferrous markets have settled and suffice it […]
By Greg Wittbecker, Advisor, CRU Group It is natural to speculate about how well demand for aluminum can hold up given the effects of dramatically higher prices, both on aluminum itself and the broader economy. Conversations with many of our clients’ center on concerns about demand destruction. The logic is simple: With gasoline, food and interest […]
ArcelorMittal has agreed to acquire a controlling stake in Voestalpine’s hot-briquetted iron (HBI) plant in southern Texas, in a deal that values the operations at $1 billion. The Luxembourg-based steelmaker will take an 80% stake in the plant located in Portland, Texas – just outside of Corpus Christi. Opened in October 2016, it’s one of […]
SSAB Americas plans to increase prices on as-rolled, normalized and wide cut-to-length plate by at least $60 per ton ($3 per cwt). The Mobile, Ala.-based steelmaker said the price hike would be $70 CAD per ton for customers in Canada. “SSAB Americas reserves the right to re-quote any open offers not confirmed by an SSAB […]
Sheet prices were flat or fell modestly across this board this week for the first time since late February. Case in point: SMU’s average hot-rolled coil price slipped to $1,450 per ton, down $10 per ton from last week. The decline, while negligible in absolute terms, marks the first time HRC prices have not risen […]
US apparent steel supply levels slipped 11% from January to February, down 997,000 net tons to 8.37 million tons, according to the latest US Department of Commerce and American Iron and Steel Institute (AISI) data. Recall that just last September, the market saw the highest monthly supply level in over six years (9.92 million tons). […]
US steel mills shipped 7.233 million net tons in February, a 7.4% increase from the same month last year when shipments totaled 6.753 million net tons, the American Iron & Steel Institute (AISI) said. But while shipments were up year over year, they were down 6.8% from January. Shipments by US steelmakers year-to-date through February […]
Raw steel production by US mills rebounded last week, following repeated declines the prior two weeks. Despite the gain, utilization rates remain below the 80% mark for the third straight week. Domestic output totaled 1,739,000 net tons in the week ending April 9, while mill capacity utilization was 79.7%, the American Iron and Steel Institute […]
Voestalpine is in advanced talks to sell a majority stake in its hot-briquetted iron (HBI) plant in southern Texas, the company said. “In recent months, Voestalpine has been conducting an open-ended market sounding to stabilize the business model of its direct reduction plant in Corpus Christi, Texas.” The Austrian specialty steelmaker didn’t disclose a potential […]
Plate prices have remained relatively steady while sheet prices declined and then surged over the past six months. Plate prices typically carry a premium over hot rolled prices because plate is a value-added product and requires more time on the mill. SMU’s hot rolled coil price averaged $1,460 per ton ($73 per cwt) last week and has risen each of the past […]
SSAB Americas aims to increase prices on all quenched-and-tempered (Q&T) products by at least $100 per ton ($5 per cwt). The price hike is $125 CAD per ton for customers in Canada, the company noted. The move is effectively immediately on all non-contract orders confirmed to ship on May 1 or later, SSAB said in […]
Matthew Abrams, Analyst, CRU Group The US Midwest premium on aluminum P1020 has seen consistent upward movement since the recovery from the pandemic started. Last week, it touched $0.40 per pound, a level once heavily fought. The fundamentals of the market indicated room for further upward moves, yet it is pausing here. Markets are getting […]