The imposition of reciprocal tariffs by President Trump as explained on Wednesday afternoon has rattled virtually every market. This policy has some advantages for the steelmaking sector, but there may be some disadvantages that were not considered, especially for the EAF producers of flat-rolled.
The price of pig iron for the US market remains firm despite a potential drop in domestic ferrous scrap prices going into April.
Prices for five of the seven steelmaking raw materials tracked by SMU increased from February to March, according to our latest analysis.
“The next months are going to be good ones for pig iron producers," according to one source.
Prices for six of the seven steelmaking raw materials SMU tracks are increased from January to February, according to our latest analysis.
SMU's Stephen Miller provides an update on the raw materials sector.
There has been considerable upward movement in the US prices paid for future shipment of Brazilian-produced pig iron over the last week.
A comparison of the current cost of pig iron vs. busheling scrap.
Prices for the seven steelmaking raw materials SMU tracks moved in differing directions from December to January, according to our latest analysis.
There is no doubt pig iron will be needed to fuel the expansion of flat-roll capacity in the US and Canada. Where will it come from? How much will it cost? What will be the quality? Is it a good business to produce merchant pig iron? The US imports between 4-6 million metric tons (mt) per year of […]
Pig iron prices declined in all regions as the EU’s 2025 import quota on Russian pig iron has begun, loosening global supply.
Prices for pig iron imports into the US continue to retreat in the face of regional weakness in demand for ferrous raw materials in South Asia and the Far East.
The prices being paid by US-based buyers has continued to decline as ferrous raw material demand across the globe remains weak.
Prices were stable to down in November for all seven steelmaking raw materials tracked by SMU, according to our latest analysis.
The pig iron markets have retreated over the last two months amidst a concerted effort by US-based buyers to drive down prices to more closely follow the lower domestic scrap prices.
SMU is pleased to share the latest news from the global pig iron markets from our sister publication, Recycled Metals Update.
Steelmaking raw material prices have moved in differing directions across August, a change of pace from the declines seen in June and July, according to SMU’s latest analysis.
The basic pig iron (BPI) market remains virtually unchanged despite perceived weakness in other ferrous materials, such as scrap, billets, HRC and iron ore.
SunCoke Energy Inc.’s earnings improved in the second quarter, with the company citing strong performances in its coke-making and logistics segments.
The prices for the July market weren’t settled until July 8 and now we are approaching the formation of the August market.
The majority of steelmaking raw material prices declined in June, following the same trend seen in May, according to SMU’s latest analysis.
There are a lot of rumors swirling around the steel market over the last couple of weeks. Chief among them was that we might see a price hike after Independence Day. Another concerns a key detail in the new Section 232 agreement with Mexico. Namely, steel imported from Brazil into Mexico. Of particular interest is its potential implication for slabs imported from Brazil, rolled in Mexico, and then exported to the US.
After celebrating the July 4th holiday, let’s have a look back at the first half of 2024.
Sources contacted by RMU have delivered a bleak forecast for the market’s direction in July, potentially extending into August.
This chart of the rolling second-month CME hot-rolled coil (HRC) future dating back to the start of 2022 has been as volatile as a herd of “Wild Horses.”
Steelmaking raw material prices have generally declined over the past month according to SMU’s latest analysis.
The conventional wisdom is that sheet prices will trend down for the next few weeks (maybe the next two months) before rising again in August – around when lead times stretch into the busier fall months. We see that reflected in our survey results and in market chatter. And there are plenty of data points to choose from if you want to support of that position.
Pig iron prices have been trending higher in all key markets besides Europe. Limited exports from Brazil and Ukraine are contributing to higher prices in the USA, though soft demand cushioned a sharp price upswing. In the US, pig iron prices increased by $15 per metric ton (mt) m/m to $485/mt CFR NOLA. Buying activity […]
Steelmaking raw material prices have moved in different directions over the past month, according to SMU’s latest analysis.
Earlier this month, steelmakers entered the scrap market at mixed pricing. The prevailing price for obsolescent grades fell $20 per gross ton (gt). However, some notable districts decided to only drop $10/gt.