Steel Products Prices North America
Ice Impact Still Lingering on Lakes
Written by Sandy Williams
June 11, 2014
Iron ore shipments on the Great Lakes totaled 6.4 million tons in May, nearly the same as May 2013, according to Lake Carriers’ Association. Shipments were about 600,000 tons lower than anticipated due to the idling of three US flag lakers for repairs during May due to ice damage suffered in March and April.
US port shipments of ore totaled 5.8 million tons, unchanged from last year. Shipments from Canadian terminals increased slightly to 588,000 tons.
Year to date totals for ore are down 26 percent year over year at 12.7 million tons. Ice on the Great Lakes slowed shipping well into April. Hazardous ice conditions kept Lake Superior vessels under US Coast Guard escort until May 2.
Lake Carriers’ says dredging is still needed to keep water levels at optimum for large load vessels.
“Rising water levels did allow for bigger loads than a year ago, but dredging remains very much needed. The largest iron ore cargo to move in May totaled 67,293 tons, an increase of 2,800 tons compared to a year ago. However, in May of 1997, a time when water levels were approaching near record highs and allowing vessels to load to almost their full draft, the top ore cargo totaled 69,961 tons, and before the season was out, some loads would top 72,000 tons.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products Prices North America
HRC-galvanized price gap edges higher
The premium galvanized coil carries over hot-rolled coil (HRC) coil has marginally widened in recent months. As of Sept. 16, the spread between these two products reached a three-month high of $175 per short ton (st), though it is still low by historical standards.
SMU Price Ranges: HR slips, hopes for Q4 rebound still standing
SMU’s price ranges were mixed again this week as the market continues to seek a floor amid industry hopes for a Q4 rebound.
Nucor’s hot band list price holds at $875/ton
Nucor held its hot-rolled coil list price flat again this week, according to its Monday, Sept. 15 consumer spot price (CSP) notice.
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
SMU Price Ranges: Some predict bottom is near as big discounts dry up
Sheet prices were mixed this week as some mills continued to offer significant discounts to larger buyers while others have shifted toward being more disciplined, market participants said.