Steel prices continued to climb through the month of August, marking one full year of increasing prices. Hot rolled steel prices increased $45 per ton ($2.25 per cwt) throughout the month, with the SMU index averaging $1,935 per ton ($96.75 per cwt) as of Tuesday. The SMU Price Momentum Indicator remains unchanged since the August 2020 adjustment to higher, indicating prices […]
By CRU Senior Analyst Helen O’Cleary, from CRU’s Steel Sheet Products Monitor The automotive industry accounts for approximately 10% of end-use sector zinc demand, in the form of galvanized steel sheet, die castings and oxide. Even before the pandemic, vehicle output and sales in some of the major producing countries were being constrained by new […]
Steel prices continued to climb through the month of July, now the 11th consecutive month prices have increased. Hot-rolled steel prices increased an average of $30 per ton ($1.50 per cwt) each week, with the SMU index averaging $1,860 per ton ($93 per cwt) as of last Tuesday. The SMU Price Momentum Indicator has remained unchanged since the […]
By CRU Senior Analyst Helen O’Cleary U.S. refined demand continues to impress through the traditionally slower summer months, with market contacts reporting still-strong off-take under long-term contracts into August. We hear that many consumers continue to take the higher end of their contracted metal tonnage, with some still buying additional spot quantities. A further increase […]
Prices for four of the seven steelmaking raw materials tracked in this SMU analysis increased from June to July, with all products following large gains in previous months. Over the last 30 days, coking coal prices increased 16% and busheling scrap prices rose 5%. Zinc and aluminum prices increased less than 1%, while shredded scrap remained flat and pig […]
Steel prices rose even higher through the month of June, now the 10th consecutive month prices have increased. Hot rolled steel prices increased an average of $30 per ton each week, reaching $1,770 per ton in SMU’s latest check of the market. The SMU Price Momentum Indicator has remained unchanged since the August 2020 adjustment […]
Editor’s note: Steel Market Update is please to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. Prices for all but one of the steelmaking raw materials tracked in this SMU analysis increased from May to June, with most products following large gains seen in […]
By CRU Principal Aluminum Analyst Guillaume Osouf The LME aluminum price has been going through a period of consolidation since it reached its last significant peak at $2,603 /t on May 10. A similar situation was observed between December 2020 and February 2021 before the rally resumed even stronger. Can we expect the same to […]
The U.S. Commerce Department has determined that coated flat-rolled steel made in Malaysia from Chinese or Taiwanese substrate circumvents U.S. anti-dumping and countervailing duties. As a result, coated product from Malaysia could be subject to duties of more than 200% if it is determined to be made from Chinese hot-rolled coil or cold-rolled coil, according […]
Steel prices continued to climb higher in May, now the ninth consecutive month prices have increased. Hot rolled steel prices increased an average of $23 per ton each week, reaching $1,590 per ton as of last week when this article was filed. The SMU Price Momentum Indicator has remained unchanged since the August 2020 adjustment […]
Prices for all of the steelmaking raw materials tracked in this SMU analysis increased from April to May, with most products following large gains seen in previous months. Over the last 30 days, pig iron and coking coal prices have increased 17-19%, respectively. In that same period, prices increased for iron ore 9%, zinc 6%, scrap 5% and […]
California Steel Industries (CS) will increase its zinc coating extras effective July 1. “Due to changing zinc costs, our galvanized coating extras have been revised,” the company said in a letter to customers on Friday, May 14. The West Coast slab re-roller last increased coating extras in early December. Zinc prices have since risen. Zinc […]
Limited supply and strong demand continued to push steel prices higher throughout April, now the eighth consecutive month in which prices have increased. Hot rolled steel prices increased an average of $25 per ton each week, reaching $1,440 per ton by the end of April, exceeding any historical price by far. The SMU Price Momentum […]
By CRU Chief Economist Jumana Saleheen and CRU Head of Fertilizers Chris Lawson, from CRU’s Steel Monitor Commodity prices have continued an upwards tear in 2021. Steel and its raw materials have seen the sharpest gains, but less well-known commodities such as fertilizers are also attracting attention. With such steep price rises, calls for a […]
Among steelmaking raw materials, the prices of iron ore, pig iron, zinc and aluminum rose through mid-April, on top of large gains seen in previous months. Prices increased as much as 10% month-over-month for those four products. Iron ore prices have reached record levels, while coking coal prices remain down. Pig iron and scrap prices […]
For the seventh consecutive month, steel prices rose throughout March, fueled by a continuation of strong demand and limited supply. Hot rolled steel prices averaged $1,300 per ton by the middle of the month, far exceeding any historical price record, and reached $1,330 by the last week of March. The SMU Price Momentum Indicator has […]
Among steelmaking raw materials, the prices of pig iron, shredded scrap, busheling scrap and aluminum rose again in March on top of large gains in previous months. Prices increased as much as 14% month-over-month for those four products. Iron ore prices are slightly down compared to levels one month prior, while coking coal prices have […]
By CRU Analyst Sam Grant, from CRU’s Zinc Monitor The U.S. COVID-19 vaccination program has continued to make impressive headway over the past month, with over 100 M doses now administered across the country. With more transmissible strains of the virus now present in the U.S., and with many states continuing to roll back containment […]
By CRU Senior Analyst Helen O’Cleary from CRU’s Zinc Monitor. Zinc use has been optimized on an ongoing basis for decades as technological advances lead to lower raw materials usage and the development of higher-performing alloys with a lower zinc content. This is particularly true of the galvanizing industry, which accounts for around 60% of […]
By CRU Senior Analyst Helen O’Cleary from CRU’s Zinc Monitor After a month of sideways trading in April, zinc’s price has entered ever more overbought territory in recent weeks, following copper’s price higher and benefiting from booming ex. China steel demand and the news this week of output cuts at zinc smelters in China’s Yunnan […]
I am going to spend some time discussing Steel Market Update this evening. I started SMU in August 2008 as a one-man show. The company has grown over the years both in size and scope. The sale of the company to CRU has turned out to be a blessing (I think for both companies), and […]
Steel prices continued their upwards climb in the month of February, fueled by strong demand and tight supply. Hot rolled steel prices surpassed $1,200 per ton in the third week of the month, reaching levels never before seen. Steel Market Update’s hot rolled price index reached $1,210 per ton by the end of February, up […]
Among steelmaking raw materials, the prices of iron ore, pig iron and steel scrap moderated through February following large gains seen in previous months. Prices declined as much as 16% month-over-month for those three products, but remain 34-57% higher compared to three months prior and as much as 87% higher than levels one year ago. […]
Among steelmaking raw materials, the prices of iron ore, pig iron and scrap saw large gains in January compared to months prior, up as much as 86 percent year over year. Coking coal prices, which rebounded compared to recent months, were still down 9 percent in January versus prices one year ago. Zinc prices have declined […]
Steel and scrap prices continued to climb throughout January, fueled by strong demand and tight supply. Hot rolled steel prices surpassed $1,000 per ton in the first week of the year, levels not seen in over a decade. Steel Market Update’s hot rolled price index reached $1,140 per ton by the end of January, up […]
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 […]
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 […]
By Greg Wittbecker, Advisor, CRU Analysis Whenever prices for key commodities such as aluminum, steel, wood or rubber start to really rise, there is a natural tendency for Procurement Officers to say, “let’s look at alternatives.” That’s their job, and if they weren’t looking at options to compensate for cost increases, they would be fired. […]
By CRU Analyst Helen O’Cleary, from CRU’s Zinc Monitor January 2021 After a turbulent start to 2021 for U.S. politics, President Biden begins his term with the unenviable task of bringing the Covid-19 outbreak under control and supporting the nascent U.S. economic recovery. He plans to start with a $1.9 trillion Covid relief plan and […]
Metal coater AZZ Inc. has acquired privately held hot-dip galvanizing and zinc electroplating company Acme Galvanizing Inc. The deal, terms of which were not disclosed, includes all of Milwaukee-based Acme’s assets. The deal will extend the reach of Fort Worth, Texas-based AZZ into the Midwest, the company said. “With the acquisition of Acme, AZZ enhances […]