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
CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]