Steel prices surging to their highest levels ever has masked another potentially key market trend–a narrower spread between hot-rolled coil and galvanized base prices, according to Steel Market Update (SMU) data. SMU’s hot-rolled coil price averages $1,130 per ton ($56.50/cwt), $60 per ton above 2008’s peak of $1,070 per ton. The base price for galvanized […]
At least two more automakers with substantial North American operations have cut production because of a global microchip shortage, according to company representatives. Stellantis has scheduled “down time” at an assembly plant in Brampton, Ontario, a company spokeswoman said. The Canadian plant makes the Chrysler 300, Dodge Charger and Dodge Challenger cars. The company – […]
Flat-rolled steel prices have room to rise despite being at record levels, and any correction might not come until well into the second quarter. That was the takeaway from a conference call this morning with members of the Heating, Air Conditioning & Refrigeration Distributors International (HARDI). “I don’t remember a market like this. Maybe at […]
When will steel prices plateau? There seem to be two schools of thought on the subject. Many predict prices will peak in March/April, according to Steel Market Update’s surveys of the market. Most members of the Heating, Air Conditioning & Refrigeration Distributors International say they don’t see market prices changing direction before mid-summer. HARDI is […]
“If you’ve tried to buy steel in the last six months, it’s a very frustrating climate,” said one member of the Heating, Air Conditioning & Refrigeration Distributors International during their monthly conference call this morning. HARDI is a trade group representing wholesalers who supply galvanized and other products to the construction/HVAC market. Demand is strong […]
“If you’ve tried to buy steel in the last six months, it’s a very frustrating climate,” said one member of the Heating, Air Conditioning & Refrigeration Distributors International during their monthly conference call this morning. HARDI is a trade group representing wholesalers who supply galvanized and other products to the construction/HVAC market. Demand is strong […]
The good news still outweighs the bad news in the construction/HVAC market, report wholesalers of galvanized steel products. During their monthly conference call this morning, members of the Heating, Air Conditioning & Refrigeration Distributors International (HARDI) said demand is strong across the country and has not been diminished by the record high steel prices, at […]
Steel buyers are resigned to paying record-high steel prices, if that’s what it takes to get the material they need to keep business moving. In their monthly conference call today, members of the Heating, Air Conditioning & Refrigeration Distributors International reported that demand for HVAC and construction products has seen little slowing, though they are […]
Wholesalers who sell galvanized steel products to the construction and HVAC markets are skeptical of analysts’ predictions of a big price correction in the next few months. Judging by the persistently strong inquiries from their customers, most believe the experts underestimated steel demand as prices were on the way up and may do the same […]
Forecasts of weakness in commercial construction have not played out as analysts expected, at least not yet, contend members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI). Robust demand for HVAC and other galvanized steel products has shown no signs of abating, said members of the wholesale trade group during their monthly conference call […]
Forecasts of weakness in commercial construction have not played out as analysts expected, at least not yet, contend members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI). Robust demand for HVAC and other galvanized steel products has shown no signs of abating, said members of the wholesale trade group during their monthly conference call […]
By CRU Analyst Sam Grant, from CRU’s Steel Sheet Products Monitor Galvanized steel sheet equates to around 30% of refined zinc demand, making it the most significant first use for zinc globally. China is by far the world’s largest producer, responsible for 33% of the global total, with North East Asia, North America and Europe […]
This report examines the import share of sheet, plate, long and tubular products. As of November 2020, imports’ share of total sheet products was 11.4 percent, down from 11.8 percent in October. Imports’ share has been on a steady decline since its most recent peak of 16.6 percent this past May. The import share of […]
The upward trend in mill shipments and supply of sheet products continues, although the pace fell off as the fourth quarter carried on. After reaching bottom in June, as a result of the global pandemic, mill shipments and supply maintained a slow but steady upward trajectory through November 2020. This analysis is based on steel […]
This report is an analysis of Bureau of Labor Statistics (BLS) data and is intended to provide subscribers with a view of the competitive positions of sheet steel, aluminum, plastic and wood. The analysis includes some downstream products and a comparison of truck and rail transportation. On Jan. 15, the BLS released its series of […]
By CRU Prices Analyst George Pearson from CRU’s Steel Sheet Products Monitor HR coil import prices and lead times are now competitive with domestic mills in the U.S. and Europe. Both markets remain tight in the short-term, but this is giving buyers more optionality for forward deliveries than in previous months and some negotiation power […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Sheet Products Monitor Sheet order volume decreased in the last week across regions as several buyers have recently placed forward orders and are now covered for deliveries. Prices remain stable at a high level because mills are well-booked and lead times are long. China is slowing down ahead of its New Year holiday next week. […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor Higher steel sheet prices continue to be assessed across most global markets. Reflecting this, CRU’s Global Flat Products Steel Price Indicator (CRUspi flats), has risen for the seventh consecutive month, reaching 238.2, its highest reading since September 2008. This indicator is now 56% […]
By CRU Principal Analyst Matthew Watkins, from CRU’s Steel Sheet Products Monitor Prices in Europe have surged higher once more over the past month, though the pace of weekly increases is showing signs of changing. Overall, our 2nd Wednesday price in February is much higher m/m for all sheet products across Europe. This continues what is […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Sheet Products Monitor U.S. sheet prices have continued to increase, but this week is the lowest w/w rise since the uptrend started. In Europe, HR prices have fallen, albeit marginally, for the first time since October last year. Although we believe prices are at or near […]
By CRU Analysis Advisor Greg Wittbecker Ford announced in February that it would be all electric in Europe by 2030. This comes on the heels of General Motors stopping production of internal combustion engines (ICE) by 2035. These decisions underscore the shifting landscape in key aluminum applications and use within automotive. Die-castings have always been […]
By CRU Economist Ippolito Tarabini and Multi-Commodity Analyst Zanna Aleksahhina, from CRU’s Steel Sheet Products Monitor There is a global semiconductor shortage. It was ignited by strong demand for consumer electronics during the COVID-19 pandemic and it is now threatening auto production around the world. We expect it to reduce global vehicle output by around […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Sheet Products Monitor Chinese sheet prices reached a new high this week after a government policy notice on March 2 notifying of emissions production cuts in Tangshan province in late-February to late-March. We expect the impact of this announcement to be lower than the initial price rise suggests. In other regions, sheet prices globally have continued to rise, […]
By Greg Wittbecker, Advisor, CRU Analysis U.S. Midwest primary aluminum expressed over LME cash is 26-27 cents per pound, touted at “record levels.” In October 2014, Midwest traded premiums reached 23 cents per pound, so on paper we have set a new high….or have we? 2014: the Era of the LME Warehouse Queues We don’t […]
By CRU Analyst Kevin Bai from CRU’s Steelmaking Raw Materials Monitor China has announced that it will remove the value-added tax (VAT) rebate it has historically applied to steel exports, alongside changes in import and export tariffs. This will increase the cost of exporting and discourage export volumes, which will help loosen a tight domestic […]
By CRU Principal Analyst James Campbell, from CRU’s Steel Long Products Monitor Global long product prices have increased to the highest level since 2008. Global supply has tightened due to production cuts and changes to export tax rebates in China. Demand is strong in many regions, but Covid-19 outbreaks and seasonal patterns mean some weakness […]
By Josh Spoores, from CRU’s Steel Sheet Products Monitor One year ago, the title of our May Steel Sheet Products Monitor was “Global sheet markets move past bottom of demand cycle.” Today, global sheet consumption continues to rise, reaching levels where current global production cannot keep pace. In addition to the continued demand rebound from […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Monitor Global steel prices, as measured by the CRUspi index, have increased for the 10th consecutive month, gaining 9.4% m/m and 116% y/y. This index now stands at 301.1, a new record high. This index continues to be supported by higher finished steel prices across all regions. […]
Tex-Isle Inc. plans to build a new electric-resistance welded (ERW) pipe mill with annual capacity of 350,000 tons per year near Steel Dynamics Inc.’s (SDI’s) new flat-rolled mill in Sinton, Texas. The new pipe mill is scheduled to open in Robstown, Texas, in the third quarter of this year and will be adjacent to Tex-Isle’s […]
Plate prices usually carry a premium to hot-rolled coil tags – but that typical relationship has been turned upside down since early October. The question now: Could price hikes of at least $140 per ton announced by some North American plate mills last week help narrow the gap? The Numbers SMU’s hot-rolled coil price currently […]