The COVID-19 pandemic has resulted in weaker global demand for steelmaking raw materials. However, the cost of producing and delivering many of these commodities has also fallen. Strong demand in China is helping to buoy prices for iron ore and other materials. Table 1 summarizes the price changes through May 21 of the five materials […]
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 […]
Prices of steelmaking raw materials all declined in April, reflecting the initial impact of coronavirus shutdowns and the idling of steelmaking facilities all over the world. Generally speaking, rising supplies and lower demand are likely to keep downward pressure on iron ore, coking coal, pig iron, scrap and zinc in the months to come. Table […]
Raw materials prices are poised for a rapid decline as the dollar strengthens and the global economy slumps. Table 1 summarizes the price changes through March 18 of the five materials considered in this analysis. It reports the month/month, 3 months/3 months and 12 months/12 months changes on a percentage basis. This is likely our […]
Ferrous scrap prices surprised to the low side in March, trading sideways to up just $10 per ton, well below initial expectations of up $10-30/GT. The mills were anticipating that higher scrap prices this month would lend support to the $40 increase in finished steel prices they announced last week. “In the Ohio Valley, obsolete […]
Key Market Indicators show that the improvement in market trends in December and January translated to a jump in the present situation in February. This report is designed to be a big picture summary of data on which we have reported in detail during the month. In it we summarize 36 data streams that describe […]
Raw materials prices have been negatively impacted by the coronavirus outbreak in China. Table 1 summarizes the price changes through Feb. 19 of the five materials considered in this analysis. It reports the month/month, 3 months/3 months and 12 months/12 months changes on a percentage basis. In the last 30 days, the prices of iron […]
Prices of all five of the raw materials considered in this report advanced in the last month. Table 1 summarizes the price changes through Jan. 22 of the five materials considered in this analysis. It reports the month/month, 3 months/3 months and 12 months/12 months changes on a percentage basis. All five materials had a […]
Looking ahead to February, Steel Market Update sources predict ferrous scrap prices will decline by $10-20/GT, which has implications for finished steel prices next month. February is the shortest month of the year, so buying programs will be somewhat weaker, said CRU Senior Analyst Ryan McKinley. “It looks like the February scrap market will trade […]
Ferrous scrap prices are up another $20-30/GT in January, on top of similar increases the prior two months, lending support to the finished steel price increases announced this week. Sources put January scrap prices around the following: Shred, $315-330; HMS, $270-275; Bush, $320; and Plate, $285- $310 per ton. Scrap prices typically rise in January […]
Steel Market Update is pleased to share this Premium content with Executive level members. For more information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. Key Market Indicators showed a substantial improvement in market trends in the December data. This report is designed to be a big picture summary of data SMU has […]
Key Market Indicators showed a substantial improvement in market trends in the December data. This report is designed to be a big picture summary of data SMU has reported in detail during the month. It summarizes 36 data streams that describe the state of the steel market and provide forward guidance for steel buyers and […]
In Steel Market Update’s latest raw materials report, Table 1 summarizes the price changes through Dec. 18 of the five materials considered in this analysis. It reports the month/month, 3 months/3 months and 12 months/12 months changes on a percentage basis. Four of the five materials under consideration had a positive price movement in December. […]
By CRU North America Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose by 7.9 percent m/m to 211.1 (see chart) following price increases in nearly every market. Pervasive market tightness caused by adverse weather and higher domestic demand in major exporting markets forced buyers in import-reliant markets to accept higher […]
In the last month, the prices of three of the five raw materials tracked by Steel Market Update in this report declined, one advanced and one was unchanged. Table 1 summarizes the price changes through Nov. 20 of the five materials considered in this analysis. It reports the month/month, 3 months/3 months and 12 months/12 […]
This report is designed to be a big picture summary of data SMU has reported in detail during the month. It summarizes 36 data streams that describe the state of the steel market and provide forward guidance for steel buyers and sellers. See the end of this piece for an explanation of the Key Indicators […]
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel HR futures markets have been range-trading the last few weeks as participants have been focusing on what appears to be a […]
By CRU Senior Analysts Ryan McKinley (USA), Ryan Smith (Australia) and Erik Hedborg (UK) Part three of our three-part series: What’s next for U.S. iron ore production? In parts one and two of our series, we examined the U.S. iron ore industry and reviewed recent market developments. We also explored the dependency of U.S. iron […]
Compared to three months ago, all five of the raw materials prices considered in this report declined in October. Compared to September, there was a recovery in the prices of coking coal and zinc. Table 1 summarizes the price changes through Oct. 16 of the five materials considered in this analysis. It reports the month/month, […]
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel Near date HR futures month prices have been a bit choppy so far this month as the HR index has dropped […]
Lack of demand for ferrous scrap, especially in the Ohio Valley and Chicago market, forced prices down another $30-40/GT for October, on top of a similar decline in September, sources tell Steel Market Update. Scrap prices are their lowest in years, dropping eight out of the last 10 months. Shred prices today are around $215/GT, […]
Raw materials prices were erratic in September with four of the five considered here experiencing price reversals since August. Table 1 summarizes the price changes through Sept. 25 of the five materials considered in this analysis. It reports the month / month, 3 months / 3 months and 12 months / 12 months changes on […]
By CRU Analyst Ryan McKinley Domestic scrap prices in the U.S. fell by $30-40 /l.ton in September depending on region and grade—by about $20 /l.ton lower than was generally expected by the market. The steeper-than-expected decline was caused by a confluence of factors including ample supply, mill outages and a weakening export market. Obsolete prices were […]
Following on a small $20 increase in August, ferrous scrap prices for September are down $30 to $40 per ton as U.S. mills adjusted to lower demand and planned for upcoming fall shutdowns. “Prices fell this month amid a confluence of factors including ample supply, a weakening export market and mill outages,” reported CRU North […]
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel In the last 30 days we have seen the prices in the HR forward curve drop by an average of $70/ST […]
The price of iron ore corrected in August with a $32 per dry metric ton decline, while the four-month-long decline in the price of scrap reversed slightly. Table 1 summarizes the price changes through Aug. 21 of the five materials considered in this analysis. It reports the month / month, 3 months / 3 months […]
The surge in the price of iron ore and the decline in the price of scrap continued through mid-July, benefiting the EAF producers in the U.S. over the integrated mills Table 1 summarizes the price changes through July of the five materials considered in this analysis. It reports the month/month, 3 months/3 months and 12 […]
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel Latest HR indexes have physical trading higher at around $555/ST to $560/ST, which appears to reflect the first of the three mill […]
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Lighter volume summer market conditions prevail in the HR futures market. After six consecutive price increases, in the HR index that the […]
The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Steel From 7/11/2018 up to this Wednesday, 6/26/2019, the HR index that the CME uses to settle the HR futures contract has dropped […]