Weekly raw steel production by U.S. mills totaled 1,567,000 net tons in the week ending Dec. 12, down slightly from 1,579,000 week on week. The operating rate was 70.9 percent, down 0.8 percent from 71.4 percent the week prior, based on the American iron and Steel Institute’s calculations, which include idled capacity. Actually, despite the […]
How much higher can steel prices go? It’s impossible to know, but given the current lead times, level of demand and the support higher prices are getting from distribution, and it appears prices may have some more upside. Steel Market Update estimated the average HRC price this past week at $865 per ton, with reports […]
Commerce released final steel import data this week showing October imports totaling 1.51 million net tons, up 20 percent over the month prior. Although imports increased for the month, recall that September imports had fallen to an 11-year low or 1.26 million tons. November import licenses are currently at the 1.40 million ton level, but […]
We will welcome Spencer Johnson of StoneX next week as the guest speaker for our SMU Community Chat. The webinar will be held on Wednesday, Dec. 16, at 11 a.m. ET. The webinar is free to anyone who is interested in the flat rolled (and plate) steel markets, as well as those interested in the […]
Flat rolled and plate steel prices continue to be quite fluid based on the analysis of the data from Steel Market Update’s survey of the market this week, as well as individual channel checks with both buyers and sellers. By “fluid,” we mean we are capturing variances in prices over a short period of time. […]
On Monday, Dec. 7, both NLMK and California Steel Industries notified customers of an upward revision to their galvanized steel coating extras. A letter from CSI stated, “Due to changing zinc costs, our Galvanized Coating Extras have been revised. These changes will be effective January 2021.” NLMK and CSI are the first mills to revise […]
Iron ore surged in early-December as Vale’s lowered guidance fueled concerns about iron ore availability going into 2021. Short-term market tightness also contributed to the rise as Chinese demand remained strong, while seaborne supply has continued to struggle. On Tuesday, Dec. 8, CRU assessed the 62% Fe fines price at $147.0 /dmt, an increase of $15.5 /dmt […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor U.S. Steel announced the full buyout of Big River Steel this week, while Cleveland-Cliffs closed on its acquisition of ArcelorMittal’s U.S. assets. In any other week, these headlines would drive the news flow for steel buyers and sellers. However, news this week remains […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose by 20.2% m/m in December to 275.2. This large increase was driven by a rapid acceleration in global finished steel pricing. Even with this large m/m increase for December, we again expect metallics prices to rise in […]
By CRU Senior Analyst Erik Hedborg from CRU’s Steelmaking Raw Materials Monitor The iron ore price rally has continued in the past week as the market tightness worsened, with continued strong demand while seaborne supply has taken a major hit following the halting of operations at Australia’s two largest iron ore ports due to bad weather. […]
Canada’s Algoma Steel notified customers on Monday, Dec. 7, that, effective immediately, prices on spot orders for hot rolled and cold rolled sheet products will be increased by U.S. $60 per ton. Algoma reserves the right to review and requote any unconfirmed orders. Published extras will also be applicable with new orders. Algoma’s last price […]
Weekly raw steel production by U.S. mills totaled 1,579,000 net tons in the week ending Dec. 5. As expected, production increased by 1.2 percent after edging off slightly the week prior due to the Thanksgiving holiday break. The operating rate as a result rose to 71.4 percent, up from 70.6 percent the prior week. Even though present […]
Panelists in a webinar presented by the Alliance for American Manufacturing on Wednesday said an infrastructure bill and sensible trade policy should be top priorities for the new administration. Entitled “How Can President-Elect Joe Biden Build Back Better,” panel members discussed what the Biden administration will need to do to rebuild the economy. Rep. John Garamendi (D-CA) […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. During the […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. It now […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. For some […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. The CME […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. Today’s CME […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. February’s service […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. This week, […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. If you […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. This charts […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. So far […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. An aggressive […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. Check out […]
Steel Market Update’s latest foreign vs. domestic hot rolled steel price comparison shows that steel imports continue to become more enticing to U.S. buyers, according to the latest SMU and CRU price indices. U.S. producers have again lost their price advantage over HRC imports from Far East Asia, and imports from Germany and Italy are […]
SSAB Americas notified customers Wednesday that it is increasing transaction prices by $40 per ton on non-contract orders of its plate products “to maintain fair market value for its products.” The increase applies to As-Rolled Mill Plate, Cut-To-Length Plate >72”, Hot Rolled Coils >72”, Normalized Plate and Quenched & Tempered Plate shipped via preferred freight […]
Steel Market Update’s check of the market this week shows another jump for both flat rolled and plate, taking the benchmark price for hot rolled steel to an average of $805 per ton. Sources commonly reported paying as much as $840 to secure hot rolled in a market where availability is becoming a critical issue. […]
Weekly raw steel production by U.S. mills totaled 1,561,000 net tons in the week ending Nov. 28, while the average operating rate was 70.6 percent. Production declined by 1.3 percent from the week prior, likely due to the holiday break. Present capacity utilization represents a 14.4 percent decrease from the same period last year when […]
Preliminary census data shows October imports totaling 1.50 million net tons, up 19 percent over the 11-year low seen in September. For comparison, the lowest monthly import level in the past two decades occured in June 2009 at 862,000 tons. Due to large month-to-month swings in semifinished imports, the chart below shows total monthly imports on […]