Tag: Zinc

Prices of steelmaking raw materials have moved in different directions over the last 30 days, according to Steel Market Update’s latest analysis.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.

Steel prices continued to ease lower in early March – a trend seen since mid-January –  before showing signs of bottoming and inflecting up. The SMU Price Momentum Indicator for sheet products shifted from lower to neutral mid-way through the month after Nucor, Cleveland-Cliffs, and ArcelorMittal all targeted new base minimums between $825-840 per short […]

Prices of most steelmaking raw materials have moved lower over the last 30 days, according to Steel Market Update’s latest analysis.

The LME three-month price continued to strengthen through Friday, March 8, defending its position close to its five-week high and rising further to $2,262 per metric ton (mt), up 0.3%, on the day. Gains were also noted over the last week in other industrial metals, including copper, zinc, and lead. The price gains appeared to be due to weakness in the US dollar, which fell sharply against a basket of currencies after Fed Chairman Jerome Powell said on Wednesday that rate cuts were still expected this year.

Steel prices continued to ease lower throughout February, following a loss of upwards momentum in the middle of January.

Steel prices stabilized in early January before they began to inflect lower midway through last month. Tags peaked at $1,045 per short ton (st) during the first week of January, even as some mills tried to push prices higher, to no avail. Hot-rolled coil (HRC) prices ended January at an average of $1,000/st, declining by $45/st during the month.

Steel prices continued to move higher last month on the back of repeated mill price increases after tags reached a 2023 low of $645 per ton in late September. Hot-rolled coil (HRC) prices ended December at an average of $1,035 per ton ($51.75 per cwt), rising by $112 per ton during the month.

Steel prices continued to rally last month on the back of repeated mill price increases after tags reached a 2023 low of $645 per ton in late September. Hot-rolled coil (HRC) prices ended November at an average of $923 per ton ($46.15 per cwt), rising by $140 per ton during the month. The SMU Price […]

Prices of steelmaking raw materials are largely up over the over the last 30 days, as they were the month prior, according to Steel Market Update’s latest analysis.

SMU gives an overview of the steel market and economic indicators for October.

Steel prices continued to decline last month – a trend we’ve seen repeated since mid-April.

Steel prices kept falling throughout last month. Hot-rolled coil (HRC) prices ended August at $725 per ton ($36.25 per cwt) on average, having fallen by $105 per ton during the month.

SMU senior analyst David Schollert provides an overview of steel market indicators for the month of July.

Steel prices continued to erode in June, a trend that began halfway through April. Hot-rolled coil (HRC) prices ended June at $875 per ton (43.75 per cwt) on average, falling by $115 per ton throughout the month. The SMU Price Momentum Indicator for sheet products remained shifted to Neutral halfway through June, after turning Lower […]

Join us for SMU’s next Community Chat webinar with Wolfe Research managing director Timna Tanners. The webinar will be held on Wednesday, July 12, at 11 a.m. ET. It’s free for all to attend. A recording will be available to SMU members. You can register here. We’ll talk about what Tanners describes as “the myth […]

Join us for SMU’s next Community Chat webinar with Wolfe Research managing director Timna Tanners. The webinar will be held on Wednesday, July 12, at 11 am ET. It’s free for all to attend. A recording will be available to SMU members. You can register here. We’ll talk about what Tanners describes as “the myth […]

U.S. Steel and Wheeling-Nippon Steel have joined other domestic mills in reducing coating extras. Wheeling-Nippon said the new, lower extras would be effective with new orders quoted for the week ending July 22. The new extras apply to aluminized, galvanized, and galvanneal, the company said in a letter to customers dated Wednesday, June 14. One […]

Sheet prices fell at a more modest pace this week after a sharp decline last week, as business seemed somewhat curbed. After Memorial Day prices fell, leading to the sharpest price drop since June 21, 2022. Now, the slide seems to have temporarily cooled, though sources indicated it was almost exclusively due to a lack of activity. SMU’s hot-rolled […]

Go figure, in the last month, HR spot has continued to decline. The index tied to CME HR futures has given up $140/ST ($1,130/ST to $990/ST). A look at the fundamentals would appear to support the latest market direction. The list includes declining steelmaking component prices (zinc, coking coal, iron ore and scrap), a sharply […]

Sheet prices fell hard across the board this week as business ramped back up after Memorial Day. Recall that prices were steady last week largely because of a lack of activity following the holiday. SMU’s hot-rolled coil price now stands at $935 per ton ($46.75 per cwt), down $55 per ton a week ago and […]

Editor’s note: Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact Lindsey Fox at lindsey@steelmarketupdate.com. Prices of steelmaking raw materials have been largely on the decline over the last 30 days, as they were the month prior, the exception being pig […]

Steel Dynamics Inc. (SDI) has published new, lower coating extras that are effective July 3.  The Fort Wayne, Ind.-based steelmaker has reduced extras by an average of 10%, according to market participants and the new coating extras sheet.  SDI’s current extras took effect on Aug. 1, 2022. Under that schedule, a 0.07-0.054 G90 coating was […]

Steel prices continued to erode in May, following a trend that began halfway through the previous month. Hot-rolled coil (HRC) prices ended May at $990 per ton ($49.50 per cwt) on average, falling by $130 per ton throughout the month. The SMU Price Momentum Indicator for sheet products remained Lower during May after shifting to […]

What’s up with galvanized coating extras? Galvanized lead times and prices have been falling since April, according to SMU data. SMU’s galvanized base price stands at $1,170 per ton ($58.50 per cwt), down nearly 12% from $1,325 per ton last month and down 31% from $1,700 per ton from a year ago. Lead times are at […]

CME Midwest HRC futures continue to be under pressure. Every month from June through March has declined since the start of May. The July and August futures were hardest hit, dropping $50 and $53, respectively, through today’s close. These two months outpacing the others lower has flattened the curve.   Editor’s note: SMU Contributor David Feldstein […]

Steel prices peaked at the start of the month, with hot-rolled coil reaching $1,160 per ton ($58 pet cwt) on average on April 10. Tags began to decline near the month’s halfway mark and closed out the month $40 per ton lower at $1,120 per ton. The SMU Price Momentum Indicator for sheet products was […]

Directors of Canadian miner Teck Resources have unanimously turned down what it described as an “opportunistic acquisition proposal” from Glencore. The offer values the Canadian miner at around US$23 billion (€21 bn). Glencore made the move soon after Teck announced first copper production from the QB2 expansion at Quebrada Blanca, Chile. Teck’s CEO Jonathan Price […]

Teck Resources is now producing zinc with a low-carbon footprint. A new report independently reviewed by PricewaterhouseCoopers shows the extremely low-carbon footprint of refined zinc from Teck’s Trail Operations in British Columbia, Canada. The report shows that Trail Operations’ zinc generates far less CO2e (carbon dioxide equivalent) per ton than the global average: 0.93 metric […]

Galvanized sheet continues to be in high demand, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) Sheet Metal/Air Handling Council. Since the January HARDI meeting, prices have increased, lead times have extended, scrap is up, and zinc is down. Despite the roller coaster, HARDI members remain bullish on demand in general. […]