By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have held steady in the past week as restocking activities in China have continued and iron ore inventories at mills have been built up. At the same time, further disruptions in the supply chain have renewed supply fears in the […]
By CRU Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service U.S. steel service center inventories continue to remain low in terms of material in stock, as many buyers reported that they cannot secure all the sheet steel they require. Steel Market Update, which is owned by CRU, reported service centers carried 51.3 shipping […]
By CRU Senior Analyst Erik Hedborg from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have risen at the start of 2021 on continued strong appetite in China, while we have seen new short-term disruptions in the supply chain. On Tuesday, Jan. 5, CRU assessed the 62% Fe fines price at $167 /dmt, up by […]
Nucor will have a new Chief Operating Officer, David A. Sumoski, effective Jan. 1, 2021. Sumoski, currently Executive Vice President of Bar, Rebar Fabrication and Construction Services, joined Nucor in 1995 as an electrical supervisor at the Berkley facility and later as Maintenance Manager. He served as Vice President and General Manager of Nucor Steel […]
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 […]
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 […]
Mexican steelmaker Ternium’s operating rates are approaching full capacity after strong improvement in shipments and demand in the third quarter. Total steel shipments rose 16 percent from the second quarter to 2.8 million tons. Higher finished steel shipments partially offset lower slab shipments to third parties. Pricing recovered significantly from the trough in the second […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor Lack of supply and higher demand is causing sheet prices to diverge further from plate across regions, with U.S. sheet prices reaching their highest level since April 2019 this week. New lockdown announcements have not had an impact on the European market at this point, […]
BY CRU Research Analyst Eduardo Tinti, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices edged up for the second consecutive week as Chinese domestic steel prices rallied and the seaborne iron ore supply weakened. On Tuesday, Nov. 10, CRU assessed the 62% Fe fines price at $122.0 /dmt, $4.5 /dmt higher w/w. Chinese domestic […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) increased by 1.5% m/m in November to 229.0. The increase in scrap prices in most regions has been driven by a continued recovery in steel prices and demand. Moving into December, we expect higher steel pricing and demand […]
By CRU Principal Analyst Josh Spoores and Senior Analyst Ryan McKinley, from CRU’s Steel Monitor Strong underlying demand continues to provide substantial support to finished steel prices in the USA. Sheet prices have risen at their quickest pace since CRU started tracking them and, while there was little change m/m for long products, mills have […]
By CRU Principal Analyst Josh Spoores and Senior Analyst Ryan McKinley, from CRU’s Steel Monitor Strong underlying demand continues to provide substantial support to finished steel prices in the USA. Sheet prices have risen at their quickest pace since CRU started tracking them and, while there was little change m/m for long products, mills have […]
By CRU Analyst Estelle Tran, from CRU’s Global Steel Trade Service The U.S. market is at a unique point where steel buyers could be convinced to buy imports because of extreme supply tightness. With about 7Mt of blast furnace capacity remaining idled in the U.S. and Canada, sheet mills in operation are effectively running at […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor The bullish sentiment in the Chinese steel industry has resulted in continuous strong demand for iron ore. Meanwhile, iron ore supply from Australia has been weak throughout November and inventories in China have remained at a low level as a result. On Tuesday, […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have continued to surge in the past week as robust Chinese demand has coincided with lower Australian exports. As a result, prices have climbed above $130 /dmt and on Tuesday, Dec. 1, CRU assessed the 62% Fe fines price at […]
Ferrous scrap prices saw a big jump in December, settling up by a minimum of $70/GT, with rumored sales exceeding $100/GT, report Steel Market Update sources. Scrap prices are widely expected to see further increases in January, adding ongoing support to the uptrend in finished steel prices. Scrap for December reportedly settled in the following […]
Following big jumps in December and January, ferrous scrap prices are expected to moderate in February. Steel Market Update sources predict obsolete grades could drop by $30-50/GT and prime grades by $10-20/GT due primarily to the large amount of scrap offered to the mills in January and the weakening export market. “Scrap dealers are lowering […]
Ferrous scrap prices are expected to rise anywhere from $40-70/GT in March after declines in February, lending further support to higher finished steel prices. Scrap prices are likely rise in March by at least as much as they fell in February, said CRU Senior Analyst Ryan McKinley. “The cold snap over the last few weeks […]
Nine days to go… I don’t know about you but my cell phone is being lit up with political calls/texts from both parties – including states I don’t live in. November 4th can’t get here fast enough… Steel Dynamics reported that their mills (all products) operated at 85 percent and their sheet mills achieved a […]
Nucor reported better than expected results for the third quarter of 2020. The company’s bar and structural mills led earnings, benefiting from a good nonresidential construction market. Joist and deck orders, quotes and backlogs are up year-over year with strong demand from nonresidential, including data and distribution center construction, company executives told investors and analysts […]
Resilient construction demand enabled Commercial Metals Company to weather the COVID-19 crisis without disruption to productivity. CMC’s fourth-quarter FY 2020 earnings totaled $67.8 million, a 6.5 percent increase from the third quarter. Consolidated net sales totaled $1.4 billion, with sequential increases in both the North America and Europe segments. Net sales for the year reached […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) was unchanged m/m in October at 225.6 following large price increases the prior month. Supply in many markets became more available as prices rose, and this helped prevent additional upside pressure. For November, market sentiment is that prices […]
By CRU Analyst Estelle Tran, from CRU’s Global Steel Trade Service The spike in sheet purchasing activity pushed prices up $200 /s.ton over the last two months and mill lead times for HR coil over six weeks. Steel Market Update, which is owned by CRU, also reported CR and HDG coil lead times in the […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have remained steady in the past week as a price increase last Thursday was met by similar falls in the past few days. Steel prices in China have risen after the holidays on an optimistic demand view, but iron ore […]
Ferrous scrap prices for October traded sideways to slightly lower in most parts of the country, surprising the experts who had been expecting scrap to move higher for another month. “October sales have brought stable pricing for the majority in the Ohio Valley and Midwest. There seems to be a balance between supply and demand as […]
By CRU Principal Analyst James Campbell from CRU’s Long Products Monitor Global long product prices increased in many markets this month as strengthening demand combined with higher costs and for some products in particular. Strength was not uniform however; prices were weaker in Southeast Asia and China, the latter due to weaker sentiment following lower […]
From the CRU weekly Steel Monitor: Most Chinese product prices were either unchanged or marginally lower this week, except for HR coil, that has fallen RMB220 /t ($32 /t) over three weeks. Although this keeps Chinese prices at a relatively high level, it has created caution and may now indicate a limit to how far rallies in […]
By CRU Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service A combination of increased seasonal demand, low service center inventories, unplanned outages, spike in scrap prices and government restrictions on Brazilian slab imports have added fuel to the usual seasonal uptick and turned it into a surge. After reaching a bottom in mid-August, […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have stayed elevated in the past week and even exceeded $130 /dmt, before falling back on Tuesday to just below that level. Weakening margins in the Chinese steel industry held prices from rising further and seaborne supply improved in the […]
Total rolled product imports in August were down by 28.0 percent on a three-month moving average (3MMA) basis. This was the 10th consecutive month in which imports were down by more than 20 percent compared to the same time last year. This early look at August’s import volume is based on Commerce Department license data […]