The prices of coking coal and zinc declined in May, while iron ore FOB Australia’s East Coast and scrap priced in Chicago were unchanged. To put this raw materials commentary into perspective, Figure 1 shows the spread between Chicago #1 busheling and hot rolled coil ex works Indiana through May 18, both in dollars per […]
Chinese steel trade data was recently released for the month of April 2018, providing updated data on iron ore imports, scrap imports and flat rolled imports and exports. Chinese imports of iron ore in April totaled 82,920,000 metric tons, a decrease of 3.3 percent from the previous month, but an increase of 0.8 percent from […]
Last month, Steel Market Update reported that the dollar had been trading in a narrow range for eight weeks and on April 13 had the same value as on Feb. 14. In the four weeks leading up to May 18, the situation completely changed as the dollar strengthened by 4.1 percent. (See the end of […]
The following article on the hot rolled coil (HRC) futures market was written by David Feldstein. As the Flack Global Metals Director of Risk Management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
The following article on the hot rolled coil (HRC) futures market was written by David Feldstein. As the Flack Global Metals Director of Risk Management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
Key market indicators tracked by Steel Market Update are at an all-time high for April but have shown signs of weakening in the past few months. Data released in April shows that 18 of the 36 indicators are historically positive with only 5 negative. The balance is within the historically normal band. Trends took a […]
This is Steel Market Update’s first Key Market Indicators report since April as we have renegotiated some data supply contracts and made a few changes to the content. The report still summarizes 36 data streams that we believe critically describe the state of the steel market and provide forward guidance to steel buyers. Data released […]
Steel Market Update is sharing this Premium content with Executive-level readers. For more information about upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Key market indicators in December were at an all-time high in the history of Steel Market Update’s analysis, but trends are deteriorating. This report summarizes 36 data streams that we believe critically describe […]
Steel Market Update’s scrap sources expect ferrous scrap prices to drop by at least $10-$20 per ton in May, and possibly as much as $30-$40 per ton, as spring weather increases the scrap flows and boosts supply. Adding to the downward pressure on prices, they report, is weakness in the global market. One dealer in […]
Steel Market Update’s scrap sources expect ferrous scrap prices to drop by at least $10-$20 per ton in May, and possibly as much as $30-$40 per ton, as spring weather increases the scrap flows and boosts supply. Adding to the downward pressure on prices, they report, is weakness in the global market. One dealer in […]
The prices of scrap and iron ore advanced in April, but coking coal and zinc declined. To put the raw materials analysis into perspective, Figure 1 shows the spread between Chicago #1 busheling and hot rolled coil ex works Indiana through April 13, both in dollars per net ton. The spread at $538.50 is now […]
Cleveland Cliffs reported an outstanding performance by its U.S. iron ore segment in first-quarter 2018. Restocking of customer inventory and an early break in the weather favoring vessel shipments drove sales of 1.6 million long tons of pellets. Shipping is expected to increase dramatically to 5.5 million long tons for the second quarter. As a […]
The following article on the hot rolled coil (HRC) futures market was written by David Feldstein. As the Flack Global Metals Director of Risk Management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
Cleveland Cliffs says it will exit its Australian iron ore operations by June 30, 2018. The company said in an April 6 SEC filing that increasingly discounted prices for lower-iron-content ore, the quality of the remaining iron ore reserves at APIO, and the lack of a legitimate offer from a qualified buyer, were factors in […]
Cleveland Cliffs says it will exit its Australian iron ore operations by June 30, 2018. The company said in an April 6 SEC filing that increasingly discounted prices for lower-iron-content ore, the quality of the remaining iron ore reserves at APIO, and the lack of a legitimate offer from a qualified buyer, were factors in […]
The following article on the hot rolled coil (HRC) futures market was written by David Feldstein. As the Flack Global Metals Director of Risk Management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
Key market indicators tracked by Steel Market Update in March remain very positive, but took a small step back from the all-time highs reported in February. Data released in March shows that 18 of the 36 indicators are historically positive with only 5 negative. The balance is within the band of historically normal. Trends deteriorated […]
Scrap and coking coal prices advanced in March. Iron ore and zinc declined. To put the raw materials analysis into perspective, we include here Figure 1, which shows the spread between Chicago #1 busheling and hot rolled coil ex works Indiana through March 9, both in dollars per net ton. March was the first time […]
The world’s scrap trade continues to expand as the growth of global GDP accelerates. Steel Market Update performs this analysis quarterly to help readers understand the gyrations of the global scrap market. This data is a quarter in arrears because some nations are slow to report. In the 12 months of 2017, U.S. scrap exports increased […]
The value of the U.S. dollar has strengthened in the last six weeks, though it remains down for the year. So far in 2018, the dollar has weakened by 8.1 percent, after a turnaround of 2.9 percent from Feb. 2 to March 16. Please see the end of this report for an explanation of data […]
The dollar has been trading in a range for eight weeks and on April 13 had the same value as it did on Feb. 14. Since its recent peak on Jan. 3, 2017, the dollar has weakened by 8.9 percent and in 2018 is down by 1.0 percent through April 13. Please see the end […]
The following article on the hot rolled coil (HRC) futures market was written by David Feldstein. As the Flack Global Metals Director of Risk Management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
The following article on the hot rolled coil (HRC) futures market was written by David Feldstein. As the Flack Global Metals Director of Risk Management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
President Trump made headlines this week when he slapped a 25 percent tariff on steel imports from all nations except Canada and Mexico. His rationale is that the U.S. should treat other countries the way they treat us. Steel Market Update has heard many incorrect statements about how the rest of the industrialized world treats […]
Shipping in the freight market was significantly better in the first quarter than it was during the same period last year, said MID-SHIP Group in its March 8 report. New ships are on order that will not hit the market until the end of 2109 or 2020 and for now the freight market remains bullish. […]
President Trump made headlines this week when he slapped a 25 percent tariff on steel imports from all nations except Canada and Mexico. His rationale is that the U.S. should treat other countries the way they treat us. Steel Market Update has heard many incorrect statements about how the rest of the industrialized world treats […]
NLMK USA told Steel Market Update this afternoon that if the 25 percent tariff on steel, and specifically on steel slabs, goes into effect, the future of their company and the people who work for it is in jeopardy long term. Steel Market Update spoke with Bob Miller, President of NLMK USA and Executive Vice […]
NLMK USA told Steel Market Update this afternoon that if the 25 percent tariff on steel, and specifically on steel slabs, goes into effect, the future of their company and the people who work for it is in jeopardy long term. Steel Market Update spoke with Bob Miller, President of NLMK USA and Executive Vice […]
ArcelorMittal (AM) and Nippon Steel & Sumitomo Metal Corp. (NSMMC) have teamed up to acquire and operate financially troubled Essar Steel India Ltd. (ESIL). The joint venture is still subject to regulatory approval. ESIL operates one of India’s largest integrated mills with annual capacity of 10 million tons. It manufactures hot rolled, cold rolled and […]
The following article on the hot rolled coil (HRC) futures market was written by David Feldstein. As the Flack Global Metals Director of Risk Management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]