By CRU Research Analyst Eduardo Tinti, from CRU’s Steelmaking Raw Materials Monitor The iron ore price rose further last week and is now approaching the $130 /dmt mark as demand from Chinese steel mills remains strong and seaborne supply declined w/w. On Tuesday, Sept. 8, CRU assessed the 62% Fe fines price at $128.0 /dmt, […]
By CRU Research Analyst Eduardo Tinti, from CRU’s Steelmaking Raw Materials Monitor In the past week, iron ore prices remained steady. Despite somewhat lower demand from hot metal production, pre-holiday restocking activity kept iron ore port outflows at a high level while the seaborne supply registered one of the best weeks in the year so […]
By CRU Senior Analyst Erik Hedborg from CRU’s Steelmaking Raw Materials Monitor Iron ore prices have held steady in the past week as import restrictions on Australian ore have disrupted the supply chain and reduced the availability of Australian fines. As a result, port inventories of fines products remain at the lowest level in years. […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor Sheet prices in the U.S. Midwest market were led lower by declines in HR and CR coil. The price of HR coil is now back down to the low reached in early May, though market participants have noted that low priced offers have become scarce. […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices continued their upward trajectory and traded at $123.0 /dmt on Tuesday, Aug. 18, a $3.0 /dmt increase w/w. Chinese demand remains strong and the challenges of delivering ore from vessels to steelmakers remain in place. Chinese domestic steel prices have […]
Commercial Metals Company, a long products producer, is adding a third micro mill that will make merchant bar quality products through a continuous production process that will utilize renewable energy. “We are excited by the tremendous promise of CMC’s third micro mill. This is a smart growth initiative that feeds the large underlying West Coast […]
Steel Market Update is pleased to share this Premium content with Executive subscribers. For more information on how to upgrade to a Premium subscription, email Info@SteelMarketUpdate.com. July was the ninth consecutive month where imports were down by more than 20 percent compared to the same month last year, according to the latest Commerce Department data. […]
A new Danieli spooler line is in operation at the Nucor Steel Sedalia minimill in Missouri. The spool will deliver twist-free compact and regularly shaped coils at up to 30 m/s. The high-efficiency and low-cost line is for the production of rebars and rounds in coils weighing up to five tons. The spooler line consists of […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor. The U.S. Midwest sheet market was somewhat mixed this week as prices for both HR and HDG coil fell w/w, while CR coil rose by $3 /s.ton. The price of HR coil fell $5 /s.ton w/w and is at its lowest level since the prior […]
By CRU Research Analyst Eduardo Tinti, from CRU’s Steelmaking Raw Materials Monitor Last week, iron ore prices rallied, rising by $10.7 /dmt w/w. This was mainly due to very strong Chinese demand driven by high steelmaking margins, BFs operating at historic high capacity utilization rates and bullish market sentiment. Albeit rising iron ore inventories at […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]
Commercial Metals Co. has added AZZ’s Continuous Galvanized Rebar division to its portfolio of businesses. GalvaBar, located in Tulsa, Okla., produces galvanized rebar with a zinc alloy coating that provides superior corrosion protection and post-fabrication formability. The product is used in steel reinforced concrete. “We are thrilled to welcome the GalvaBar team to CMC,” said […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Sheet Products Monitor The U.S. Midwest market has continued to record lower weekly sheet prices. Our assessment of HR coil is now down $23 /s.ton since the July 1 assessment and market participants expect further price declines to emerge for all sheet products over the near […]
By CRU Analysts Irina Melkonyan and Iris Speelmanns, from CRU’s Steel Sheet Products Market Outlook Russia is among the biggest steel exporters in the world, delivering to a wide range of destinations. However, steel demand in all regions diminished as the world was hit by Covid-19 and most steel producers globally have struggled. Unlike steelmakers […]
As expected, ferrous scrap prices declined in July, adding downward pressure to already weak finished steel prices. Steel Market Update sources report that obsolete scrap traded down $10-20 per ton, while prime grades were lower by $40 across the country. Scrap supplies have increased at a greater rate than steel production, say the experts, which […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor Sheet prices in the U.S. Midwest market have fallen from their early June peak as end-user demand, although higher than April and May, remains historically low. Over the near term, sheet prices will fall further as demand is limited by weak underlying economic activity and […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor Steel sheet prices in the U.S. Midwest market were mixed this week with slight declines for both HR and HDG coil, while CR coil was slightly higher. Market contacts have noted that markets are weakening as demand has not come about as previously expected. Lead […]
By CRU Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service U.S. automaker restarts in May drove an increase in steel demand and helped to prop up sheet prices. There is concern, however, over whether there is enough new demand to support mills restarting or if manufacturers are mainly managing pent-up demand. We’ve heard […]
Commercial Metals Co. navigated through third quarter FY 2020 pandemic challenges with almost no disruption to operations or loss of productivity, achieving net sales of $1.34 billion and earnings of $64.2 million Barbara Smith, chairman of the board, president and CEO, commented, “While the effects of the COVID-19 crisis impacted our business throughout the third […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor Iron ore prices held steady in the past week as Chinese demand remained robust while seaborne supply registered another strong week. After struggling for most of 2020, shipments from Vale’s Northern System reached the highest level of the year in the past week. […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor In the U.S. Midwest market this week, sheet prices were somewhat mixed with HR coil near steady w/w while HDG coil fell by $19 /s.ton to $650 /s.ton and CR coil inched up by $4 /s.ton to $697 /s.ton. Our full HDG coil price, reflecting […]
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor In the past week, iron ore has fallen by $11 /dmt, the largest price drop since August 2019. The price fall comes after declining steel margins and slightly lower steel production levels in China. At the same time, offloading activities at Chinese ports have […]
Section 232 tariffs will likely remain in place no matter who is the White House in January, said trade attorney Lewis Leibowitz during the SMU Community Chat on June 3. Legal challenges to the tariff measures, however, could cause a change. Firms are challenging the Section 232 exclusion process that appears skewed toward U.S. steel […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor Sheet prices in the U.S. Midwest market have continued to rise with HR coil assessed at $510 /s.ton, a w/w gain of $23 /s.ton. While prices are higher, overall volume of transactions has been limited. This is due not only to low demand and plentiful […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor In the U.S. Midwest, sheet prices have continued to strengthen while plate prices have weakened further. HR coil prices increased for the third consecutive week, albeit by just $5 /s.ton to $487 /s.ton. The volume-weighted average of transactions remains below recent mill targets of $500 […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]
By CRU Analyst Nikki Ni, from CRU’s Steel Monitor Over the past month, Chinese steel demand has accelerated, resulting in lower inventories while output remained at a high level. The ongoing demand recovery has improved the Steel PMI to 45.9 in April, up by 3.7pp m/m. Despite being below the 50-mark, the consecutive m/m improvement […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) moved higher by 11.5 percent m/m to 202.4 in May. Supply constraints caused by the Covid-19 pandemic combined with either sustained or recovering scrap demand to lift prices across most of the globe, although pig iron demand was […]
Ferrous scrap prices for May have settled up $30/GT for shredded and up $40-50/GT for busheling as the coronavirus shutdowns have disrupted scrap generation and collection, resulting in extremely tight supplies. Higher scrap prices may lend support to the higher finished steel prices announced by the mills this week. The tight supply is a more […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Long Products Monitor U.S. domestic long product prices were forced lower across the board as demand weakness caused by the Covid-19 pandemic combined with a substantial m/m decline in scrap prices. Construction activity in many states was either curtailed or prohibited entirely as local governments took measures […]