Steel Market Update wants to make you aware of some of the events we have planned for early 2021 as well as the 2021 SMU Steel Summit Conference, which will be (fingers crossed) a live event at the end of August. Steel Hedging 101: Introduction to Managing Price Risk Dates: Jan. 26-27 (half day workshop […]
2021: A New Year and New Opportunities and Adventures The coming New Year is going to be one for the ages. This year (2020) has been one where our personal, political, and professional lives got mixed together as never before. I am ready for the mundane (politics), for the pandemic to end (personal), and to […]
By CRU Senior Cost Economist Ross Cunningham, from CRU’s Steelmaking Raw Materials Monitor Global CO2 emissions have been rising since the start of the industrial revolution. This has caused rising global temperatures and severe weather events such as wildfires, flooding and drought. In 2015 the United Nations framework convention on climate change put together the Paris […]
I received a call earlier today from one of our readers who is also a consultant to companies who purchase flat rolled steel. He mentioned to me that there is some confusion with companies who think our index is the same as CRU, since we are owned by CRU. That belief is ill-advised and flat […]
Tomorrow (Monday, Dec. 21) will be the winter solstice in the Northern Hemisphere, the shortest day of the year (darkest day of the year). With the pandemic raging, and the government breaking out two vaccines to treat COVID-19, the hope is that as the daylight gets longer the pandemic will begin to fade away. For […]
Steel Market Update’s latest foreign vs. domestic hot rolled steel price comparison shows that, with U.S. HRC prices nearing $1,000 per ton, foreign imports theoretically have become cheaper than domestic steel prices. U.S. producers have lost their price advantage over HRC imports from Far East Asia by over $100 per ton, and imports from Germany […]
By CRU Analyst Estelle Trans, from CRU’s Global Steel Trade Service U.S. buyers have been watching sheet steel prices skyrocket and found themselves weighing high-priced imports out of necessity. The steel market remains supply short, even with the restart of U.S. Steel Gary No. 4 this month, and market contacts expect that the market will […]
By CRU Principal Analyst Chris Asgill, from CRU’s Global Steel Trade Service Scrap prices have surged over the past month, with import prices up $50-90 /t m/m. Turkish prices have gained the most significant ground, though were below Asian prices a month ago. At the time of our assessment last week Turkish prices were approaching $400 /t […]
Steel Market Update is pleased to share the following Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. By CRU Principal Economist Alex Tuckett and Chief Economist Jumana Saleheen, from CRU’s Global Economic Outlook As the curtain falls on 2020, this overview looks back on the year […]
By CRU Principal Analyst Chris Asgill, from CRU’s Steelmaking Raw Materials Monitor Russia will impose tariffs of 5% ferrous scrap exports, with a minimum rate of €45 /t ($55 /t), for a period of six months. The country states that these are to protect the domestic metallurgical industry from supply shortages and high prices. As shown […]
By CRU Analyst Sam Grant It is now clear that Joe Biden will become the new president of the United States in January 2021, yet he will need control of the Senate to implement his economic policy agenda. As a result, the contest for two Senate seats in Georgia on Jan. 5 will be crucial. […]
Before we slide into the Christmas and New Year vacations, we want to make you aware of some of the events we have planned for early 2021 as well as our SMU Steel Summit Conference, which will be (fingers crossed) a live event at the end of August. Steel Hedging 101: Introduction to Managing Price […]
What to expect at the Tampa Steel Conference 2021 Virtual Conference Home About Speakers Agenda Register What to expect at the Virtual Event With the 32nd Tampa Steel Conference beingh held as a virtual event in 2021, many of you may have questions about the virtual platform and how it will work. If you attended the SMU Steel Summit this […]
Registration is in full swing for the 2021 Tampa Steel Conference, which will be held virtually on Feb. 2, 2021. Here are just a few of the companies already registered to attend (those with an asterisk * mean more than one person is registered for the event): All Metals*, ArcelorMittal Dofasco*, Bank of America Merrill […]
Let’s play “fun facts.” Last week Steel Market Update published our average hot rolled spot price as $885 per ton ($44.25/cwt). With the domestic steel mills asking $900-$960 per ton for new orders of spot (if they are offering at all, which is a separate issue all by itself) SMU expects HRC spot prices to […]
Let’s play “fun facts.” Last week Steel Market Update published our average hot rolled steel spot price as $885 per ton ($44.25/cwt). With the domestic steel mills asking $900-$960 per ton for new orders of spot (if they are offering at all, which is a separate issue all by itself) SMU expects HRC spot prices […]
Steel Market Update is working in partnership with Port Tampa Bay to conduct the 32nd annual Tampa Steel Conference which will be held virtually on Feb. 2, 2021. We will host the event on a platform similar to the one used for the SMU Steel Summit Conference in August. This platform provides unique networking opportunities for […]
Steel Market Update is working in partnership with Port Tampa Bay to conduct the 32nd annual Tampa Steel Conference which will be held virtually on Feb. 2, 2021. We will host the event on a platform similar to the one used for the SMU Steel Summit Conference in August. This platform provides unique networking opportunities for […]
Steel Market Update is working in partnership with Port Tampa Bay to conduct the 32nd annual Tampa Steel Conference which will be held virtually on Feb. 2, 2021. We will host the event on a platform similar to the one used for the SMU Steel Summit Conference in August. This platform provides unique networking opportunities for […]
Steel Market Update is working in partnership with Port Tampa Bay to conduct the 32nd annual Tampa Steel Conference which will be held virtually on Feb. 2, 2021. We will host the event on a platform similar to the one used for the SMU Steel Summit Conference in August. This platform provides unique networking opportunities for […]
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. […]
No one anticipated in August how quickly prices would go up, said CRU Principal Analyst Josh Spoores during this week’s SMU Community Chat Webinar. As four criteria lined up—steel-intensive industrial demand, low supply chain inventories, low imports, and domestic prices below global levels—steel prices in the U.S. surged at the fastest rate in 41 years, […]
On Tuesday and Wednesday of this week, I will be an instructor at our Steel 101: Introduction to Steel Making and Market Fundamentals Workshop. We have a full class with a mixture of steel service centers, manufacturing companies, steel mills, traders, analysts, and suppliers to the industry. I am looking forwarding to discussing supply, demand, […]
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. This week, […]
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 […]
2020/2021 Workshops and Conferences Schedule The next nine months will be busy for Steel Market Update as we conduct two conferences (one virtual and one live), and we have currently scheduled five workshops. We anticipate the number of workshops will grow as the year progresses. We have added new hedging workshops and the Tampa Steel […]