CRU: Sheet Demand Will Improve in 2024
CRU forecasts a stronger year for steel sheet demand in 2024 than in 2023 as growth continues in Asia and a recent period of contraction in the West ends.
Tag: CRU
CRU: Leading US Companies Seek Federal Support for Clean Aluminum Industry
LME Aluminum Continues To Trade Under Pressure; US Midwest Premium Stays Between 19–19.5¢/lb The LME aluminum 3-month price continued to trade under pressure on the morning of 20 October and was last seen trading at $2,177/t. The US Midwest premium showed no surprise as it continued to sit between 19–19.5 ¢/lb. The UAW strikes are […]
CRU: New US Sheet Capacity Will Influence 2024 Contracts
Annual contract negotiations between buyers and mills in the US flat-rolled steel market are picking up pace as both look to lock in volume for the coming year. As these contracts are finalized, we expect that changes in the market will impact how 2024 contracts are ultimately structured. The primary change in the market is […]
Domestic HRC Prices Surpass Foreign Hot Band
US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.
CRU: Electrical Steel – The Forgotten Material in Electrification
Much effort has been made in examining the supply chain of commodities related to electrification: everything from copper to aluminum to critical battery materials such as lithium, nickel, and cobalt. One overlooked material, however, is electrical steel.
CRU: Grupo Simec Shuts Two Republic Steel Mills For Good
Specialty steel producer Grupo Simec has permanently closed down its Republic Steel mills in Canton, Ohio, and Lackawanna, in New York state, it has emerged.
CRU: Ore-Based Metallics Prices Mixed as Demand Weakens
Prices for ore-based metallics were mixed month-on-month (MoM) as lower finished steel production weighs on pig iron demand.
CRU Aluminum: UAW Strikes and Slowing Trailer Build Rates Lower Demand Outlook
The LME aluminum 3-month price was stable on the morning of Oct. 13, trading at $2,201 per tonne at that time.
Foreign and Domestic HRC Prices Near Parity
US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.
CRU Aluminum: Secondary Aluminum to Play A Bigger Role Over The Next 2-3 Years
The LME aluminum three-month price was broadly unchanged on Friday morning, Oct. 6, and was last seen trading at $2,243 per ton. Due to the Mid-Autumn Festival and National Day celebrations, the SHFE is closed for holidays from Sept. 29 to Oct. 6. According to a report from Bloomberg, leaders from the EU and the […]
CRU: Two Metallurgical Coal Miners to Produce Less at Higher Cost
Because of a series of problems encountered in Australia and the United States, Coronado and Arch have both reduced their coking coal output guidance. They also warned of higher costs. Coronado Global Resources now forecasts production between 16.2 Mt and 16.4 Mt this year, compared with a previous range of 16.8 Mt and 17.2 Mt. […]
US HRC Prices Move Nearly Even With Imports Again
US hot-rolled coil (HRC) and offshore product are nearing parity again after domestic prices moved higher this week and imports declined again.
CRU: Brazilian Steelmakers Scale Back Amid Calls for Import Duties; Mexico Imposes Them
ArcelorMittal said it expects to produce less steel than previously forecast in Brazil. Gerdau has hinted at potential layoffs as imports surge. The Brazil Steel Institute is asking the government to raise import levies to 25% from the existing 9.6%. Meanwhile, Mexico has applied levies to some steel imports.
CRU Aluminum: Curiously, LME Moves Higher and Midwest Drifts Lower
The LME aluminum 3-month price was up 4.7% during the last week of the month to close September trading at $2,325 per metric ton – its highest price since early August. Several correlations appeared to have broken down in the short term given the weakness in the US stock market, a weaker copper price, and, critically, the resurgent dollar.
US HRC Prices Remain Well Below Landed Price for Imports
US hot-rolled coil (HRC) prices were down again vs. offshore hot band this week. Domestic HRC lost more ground relative to imported product with US tags sinking at a faster rate than those overseas.
CRU: Demand-side Factors to Create Drag on Global Sheet Markets
Demand will be the determining factor in what happens to steel sheet prices globally for the remainder of the year, and most risks right now are to the downside. An autoworkers strike has started in the USA and could increase price volatility in the domestic sheet market. The longer and more severe this strike is, […]
CRU: UAW Strike Impact on Aluminum
The LME aluminum 3-month price was up 0.8% on the morning of Friday Sept. 22. It was last seen trading at $2,238/metric tons, remaining above the $2,200/t mark for most of the past week.
US Hot Band Now Even Cheaper Than Imported HRC
US hot-rolled coil (HRC) prices fell further relative to imported product this week. Domestic hot band remains cheaper than offshore HRC as US tags continue to sink at a sharper rate than those overseas.
U.S. Steel Idling Granite City 'B' Furnace in Response to UAW strike
U.S. Steel said on Monday it plans to temporarily idle blast furnace ‘B’ at its Granite City Works near St. Louis. The Pittsburgh-based steelmaker said it made the move in response to the United Auto Workers (UAW) union strike against “Big Three” automakers Ford, General Motors, and Stellantis. “Following the announcement of UAW strike actions, […]
CRU: US Pig Iron Prices Diverge From Prime Scrap Tags
Mixed trends were observed in prices of ore-based metallics as demand stayed subdued in Europe and the US. Buying activity had been limited in the US due to several upcoming mill outages and ahead of the UAW strike. However, prices have found stability despite declines in prices of prime grades of scrap. In the CIS, […]
CRU Aluminum: All Eyes on Auto Talks Ahead of Congressional Budget Battle
The LME aluminum 3-month price was broadly stable on the morning of Sept. 15 and was last seen trading near $2,208 per tonne.
Final Thoughts
SMU Managing Editor Michael Cowden shares his Final Thoughts for the week on what happens to steel if the United Auto Workers (UAW) launch a series of “stand up” strikes at midnight tonight against Ford, General Motors, and Stellantis?
Imported HRC Tags Climbing vs. US Product
US hot-rolled coil (HRC) continues to lose ground against imported hot band. Domestic product remains a better deal than offshore HRC as US tags sink further, according to SMU’s latest foreign vs. domestic price analysis.
CRU: Resumption of Trade Leads to Higher Turkish Scrap Import Prices
Turkish scrap import prices rose due to conclusion of several deals towards the end of last week as key buyers and sellers re-entered the market.
CRU: ArcelorMittal Orders New NGO Mill
Luxembourg-headquartered ArcelorMittal has placed the contract for a reversible 6-high cold rolling mill to produce high-grade, non-oriented silicon steel strip (NGO) for use in electric motors. The unit will be installed at the group’s Mardyck plant near Dunkirk in northeastern France where it is adding a 200,000 t/y rolling mill to produce electrical steels for electric vehicles […]
CRU Aluminum: Suppressed Demand Searching for Recovery
The LME aluminum three-month price was broadly stable again on the morning of Sept. 8 and was last seen trading at $2,180 per tonne.
US HRC Now a Better Bargain Than Imports
US hot-rolled coil (HRC) is now a better deal than imported hot band, something we haven't seen since early February, according to SMU’s latest foreign vs. domestic price analysis.
Final Thoughts
The spot market remains quiet on fears of a potential United Auto Workers (UAW) union strike late next week.
CRU: Turkish Scrap Prices Stabilize Due to Limited Buying Activity
Turkish scrap import prices have remained relatively stable over the past two weeks due to slow trade activity. This was partly due to the holiday on August 30. CRU’s latest price assessment for HMS1/2 80:20 is $368 /metric ton CFR, up $1 /metric ton week-over-week (WoW) and up $21 /metric ton month-over-month (MoM). The holiday […]
Domestic HRC Is Now Cheaper Than Imports
Domestic hot-rolled coil (HRC) is now cheaper than imported hot band as US tags have fallen further and at a faster clip than offshore product, according to SMU’s latest foreign vs. domestic price analysis.