US HR price premium over imports edges up
The price premium between stateside hot band and landed imports widened slightly this week.
Tag: Steel Prices (International)
Domestic HR tags maintain slight premium over landed imports
Hot-rolled (HR) coil prices ticked back up in the US this week, while tags in offshore markets moved in varying directions. Thus, the price premium between stateside hot band and imports on a landed basis widened slightly. After leveling with import prices in late August, stateside tags have been mostly stable and ahead of imports […]
Domestic CRC prices edge up, import tags mixed
The price spread between US-produced cold-rolled (CR) coil and offshore products on a landed basis widened slightly in the week ended Nov. 22.
CRU: China’s monthly steel exports reach highest level since 2015
China’s steel export volumes reached 11.2 million metric tons (mt) in October, the highest monthly level since September 2015. Steel export prices were mostly stable in China and India this week, while in Turkey steel export prices increased week over week (w/w).
Final thoughts
Thanks to everyone who attended our Steel Hedging 101 workshop in Chicago on Wednesday. I learned a lot from StoneX Group’s Spencer Johnson, who instructs the course, and from your good questions. One thing that Spencer said sticks with me as I write this column. Namely, that momentum drives steel prices more than other commodity markets. If you watch steel futures, you’ll see up days and down days. But it’s rare to see the momentum shifting back and forth within any given day.
Domestic CRC prices grow even more expensive than offshore product
The price gap between US cold-rolled (CR) coil and imported CR widened this week after falling to a 10-month low in late July.
CRU: Chinese steel export prices plunge as confidence collapses
Chinese steel export prices decreased for the eleventh week in a row, with all steel products recording losses of 2-3.7% compared to the previous week.
Cold-rolled imports still significantly cheaper than domestic product
Foreign cold-rolled coil (CR) remains much less expensive than domestic product even as prices in the US have declined at a rapid pace over the past month, according to SMU’s latest check of the market.
Stelco swings to a Q4 loss but sees better margins ahead
Canadian steelmaker Stelco swung to a loss in the fourth quarter as revenue declined due to decreased shipping volume and average selling prices.
CRU: Ore-based metallics prices follow scrap price upswing
Pig iron prices rose month over month (MoM) for all major regions, driven by rising scrap prices.
Russel Metals Q3 Earnings Slip on Volatility
Canadian metals distributor Russel Metals reported lower earnings in the third quarter as the company “navigated through volatile market conditions.”